EXHIBIT 10.1

Network-1 Security Solutions, Inc.
445 Park Avenue, Suite 1018
New York, N.Y.  10022

 

 
March 16, 2011

 

 

Corey M. Horowitz
c/o Network-1 
445 Park Avenue, Suite 1018
New York, N.Y.  10022

 
Re:
Amendment to Employment Agreement

Dear Corey:

This letter shall serve to amend Secton 5b(ii) or your Employment Agreement,
dated June 8, 2009, with Network-1 Security Solutions, Inc. (“Network-1”) so
that all references in Section 5(b)(ii) to Additional Bonus Compensation and
Royalty Bonus Compensation payable to you from patents other than the Remote
Power Patent shall be amended from 12.5% to 10%.  In consideration of your
agreement to reduce the aforementioned percentage the Board of Directors of
Network-1 has authorized a payment of $250,000 to you.
 
 

 
Very truly yours,
 

Network-1 Security Solutions, Inc.

By:  /s/ David Kahn

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David Kahn, Chief Financial Officer

 

Agreed and Accepted:

/s/ Corey M. Horowitz

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Corey M. Horowitz