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|  UNITED STATES                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| SECURITIES AND EXCHANGE COMMISSION                                                                                                                                                                                                                                                                                                                                                                                                                               |
| WASHINGTON, D.C. 20549                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| FORM 10-K                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| [ X ]  Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934                                                                                                                                                                                                                                                                                                                                                            |
| For the fiscal year ended December 31, 2010                                                                                                                                                                                                                                                                                                                                                                                                                      |
| OR                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| [    ]  Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934                                                                                                                                                                                                                                                                                                                                   |
| For the transition period from _____ to _______                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Commission File Number: 001-09014                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| CHYRON CORPORATION                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (Exact name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| New York                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 11-2117385 |
| (State or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                   |   | (I.R.S. Employer Identification No.) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| 5 Hub Drive, Melville, New York                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 11747 |
| (Address of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                                                         |   | (Zip Code) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Registrant's telephone number, including area code: (631) 845-2000                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Securities registered pursuant to Section 12(b) of the Act:                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Common Stock, par value $0.01 per share                                                                                                                                                                                                                                                                                                                                                                                                                          |   | NASDAQ Global Market |
| (Title of Class)                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | (Name of exchange on which registered) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| Securities registered pursuant to Section 12(g) of the Act:   None                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.     Yes[  ]      No[x]                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.     Yes[  ]      No[x]                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes[x]      No[  ]                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes[   ]      No[   ] |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   [ x]                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Large accelerated filer [  ]                                                                                                                                                                                                                                                                                                                                                                                                                      | Accelerated filer[  ] | Non-accelerated filer [  ] | Smaller reporting company [x] |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes [  ]   No [x]                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| The aggregate market value of the Company's voting and non-voting common equity held by non-affiliates of the Company (without admitting that any person whose shares are not included in such calculations is an affiliate) on June 30, 2010 was $18,250,135.The number of shares outstanding of the issuer's common stock, par value $.01 per share, on March 18, 2011 was 16,221,704.                                                                         |
|  DOCUMENTS INCORPORATED BY REFERENCE                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Portions of the proxy statement for the Annual Meeting of Shareholders to be held May 10, 2011 are incorporated by reference into Part III.                                                                                                                                                                                                                                                                                                                      |

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| ·   | create online or offline, high definition (HD) or standard definition (SD), mono- or stereoscopic graphics containing text, logos, images, three dimensional (3D) elements, movies, clips and flipbooks by applying special effects, animation, 3D transformations, lighting, digital video effects (DVE), multi-layer compositing and audio; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | perform real-time playout of graphics without the necessity of time- and resource-consuming file conversion and/or platform changes; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------|

| ·   | perform instant update of text and data using a variety of Chyron and third-party tools, manage clips, stills and other assets in a central storage location, making the assets network- and web-accessible, use our Chyron Asset Management InterOperability (CAMIO) solution to enable journalists and producers to quickly create and update graphics for immediate playout; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | create graphics on the web, using the Chyron-hosted AXIS Graphics SaaS applications; |
|--------------------|--------------------------------------------------------------------------------------|

| ·   | order graphics on the web, using the Chyron-hosted AXIS order management service; |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | automate channel branding to enable facilities to pre-program promos, snipes, coming-ups, etc., that display automatically updated information and graphics without the necessity of recreating each graphic with the new information;  |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | play clips from a dedicated clip server that can operate under automation; |
|--------------------|----------------------------------------------------------------------------|

| ·   | produce live-data tickers and crawls on dedicated systems; and |
|--------------------|----------------------------------------------------------------|

| ·   | enable direct talent interaction with live broadcasts using telestration tools. |
|--------------------|---------------------------------------------------------------------------------|

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|   | · | our broadcast customers do not continue to order our products at the same rate or in the same quantities following their transition to HD, or their budgets for such products are reduced or eliminated, |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | we fail to increase sales of our AXIS Graphics solutions in sufficient amounts to offset any declines in sales of our traditional broadcast products, |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | we fail to complete and introduce new product designs and services in a timely manner, |
|--------|--------|----------------------------------------------------------------------------------------|

|   | · | we are unable to have these new products manufactured or developed according to design specifications, |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | we do not open the appropriate marketing/sales channels for our hosted and non-broadcast products, |
|--------|--------|----------------------------------------------------------------------------------------------------|

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|   | · | maximize visibility and adoption of our products and services through distribution arrangements, |
|--------|--------|--------------------------------------------------------------------------------------------------|

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|   | · | managing foreign dealers and foreign customers, which may be state corporations or government agencies, |
|--------|--------|---------------------------------------------------------------------------------------------------------|

|   | · | changes in tax laws, tariffs, environmental directives, freight rates and governmental royalties, |
|--------|--------|---------------------------------------------------------------------------------------------------|

|   | · | technical standards which may differ and/or be more stringent that those of the United States, and would cause us to incur expenses associated with obtaining required certifications. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | authorizing the issuance of "blank check" preferred stock that could be issued by our board of directors to increase the number of outstanding shares, issue shares of stock with voting, liquidation and other rights in preference to the rights of common shareholders and thwart a takeover attempt, |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | establishing advance notice requirements for nominations of candidates for election to our board of directors or for proposing matters that can be acted upon by our shareholders at shareholder meetings. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ITEM 5.   MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED |
|--------|------------------------------------------------------------------------------|

|   |  SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY |
|--------|----------------------------------------------------------|

|   |  SECURITIES |
|--------|------------------|

|                         | High   | Low    |
|------------------------------|--------|--------|
| Year ended December 31, 2010 |   |   |
|   Fourth quarter   | $2.35  | $1.45  |
|   Third quarter    | 1.95   | 1.26   |
|   Second quarter   | 2.20   | 1.70   |
|   First quarter    | 2.25   | 1.83   |
|                         |   |   |
| Year ended December 31, 2009 |   |   |
|   Fourth quarter   | $2.19  | $1.54  |
|   Third quarter    | 2.80   | 1.10   |
|   Second quarter   | 1.78   | 1.10   |
|   First quarter    | 1.83   | 0.80   |

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|               |   |   |   |   |   |   |   |
|--------------------|--------|--------|--------|--------|--------|--------|--------|
|               |   | 12/05  | 12/06  | 12/07  | 12/08  | 12/09  | 12/10  |
|               |   |   |   |   |   |   |   |
| Chyron Corporation | 100.00 | 195.08 | 297.81 | 81.97  | 113.66 | 120.22 |
| Russell MicroCap   |   | 100.00 | 116.54 | 107.22 | 64.57  | 82.31  | 106.09 |
| Peer Group         |   | 100.00 | 75.60  | 64.99  | 25.72  | 32.59  | 40.34  |

----

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|     |              | % of   |              | % of   |
|----------|-------------------|--------|-------------------|--------|
|     | 2010              | Total  | 2009              | Total  |
| Product  | $21,452           | 77%    | $20,807           | 81%    |
| Services |   6,275 | 23%    |   4,807 | 19%    |
|     | $27,727           |   | $25,614           |   |

----

|                              | 2010             | 2009                            |
|-----------------------------------|------------------|---------------------------------|
| Foreign exchange transaction loss | $  (2) | $(52)                           |
| Other                             | (37)             |     6  |
|                              | $(39)            | $(46)                           |

----

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|                               | Payments Due by Period            |
|------------------------------------|-----------------------------------|
|                               |                              | Less Than | One to | Three to | More Than |
| Contractual Obligations            | Total                             | One Year | Three Years | Five Years | Five Years |
|                               |                              |   |   |   |   |
| Operating lease obligations        | $5,910                            | $   629 | $1,330 | $1,359 | $2,592 |
| Pension obligations (1)            | 2,223                             | 704 | 1,519 |   |   |
| Purchase commitments for inventory | 1,738                             | 1,738 |   |   |   |
| Term Loan (2)                      | 462                               | 326 | 136 |   |   |
| Capital lease obligations          |      115 |      34 |      58 |      23 |            |
| Total                              | $10,448                           | $3,431 | $3,043 | $1,382 | $2,592 |

| (1)   | Lower than expected investment performance could accelerate or increase the amount of payment of required contributions in future years. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | If an event of default were to occur, that is not cured, the bank could demand repayment. |
|-----------------|-------------------------------------------------------------------------------------------|

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|   | ITEM 7A.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|--------|--------------------------------------------------------------------------------------|

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| Financial Statements:                                               | Page   |
|---------------------------------------------------------------------|--------|
|                                                                |   |
| Report of BDO USA, LLP, Independent Registered Public               |   |
|   Accounting Firm                                         | 52     |
|                                                                |   |
| Consolidated Balance Sheets at December 31, 2010 and 2009           | 53     |
|                                                                |   |
| Consolidated Statements of Operations for the Years Ended           |   |
|   December 31, 2010 and 2009                              | 54     |
|                                                                |   |
| Consolidated Statements of Cash Flows for the Years Ended           |   |
|   December 31, 2010 and 2009                              | 55     |
|                                                                |   |
| Consolidated Statements of Shareholders' Equity for the Years Ended |   |
|   December 31, 2010 and 2009                              | 56     |
|                                                                |   |
| Notes to the Consolidated Financial Statements                      | 57     |

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|                                                                                  | December 31,                                  |
|---------------------------------------------------------------------------------------|-----------------------------------------------|
| Assets                                                                                | 2010                                | 2009   |
| Current assets:                                                                       |                                          |   |
|   Cash and cash equivalents                                                 | $  5,565                       | $  5,238  |
|   Accounts receivable, net                                                  | 4,141                                    | 3,477  |
|   Inventories, net                                                          | 2,218                                    | 2,515  |
|   Deferred taxes                                                            | 2,869                                    | 2,490  |
|   Prepaid expenses and other current assets                            |      775        |       943  |
|     Total current assets                                          | 15,568                                   | 14,663  |
|                                                                                  |                                          |   |
| Property and equipment, net                                                           | 1,575                                    | 2,106  |
| Intangible assets, net                                                                | 763                                      | 885  |
| Goodwill                                                                              | 2,066                                    | 2,066  |
| Deferred taxes                                                                        | 17,343                                   | 17,705  |
| Other assets                                                                     |       106  |       148  |
| TOTAL ASSETS                                                                          | $37,421                                  | $37,573  |
|                                                                                  |
| Liabilities and Shareholders' Equity                                                  |                                          |
| Current liabilities:                                                                  |                                          |   |
|   Accounts payable and accrued expenses                                     | $  3,296                       | $  3,059  |
|   Deferred revenue                                                          | 2,846                                    | 2,442  |
|   Current portion of pension liability                                      | 704                                      |  -  |
|   Current portion of term loan                                              | 326                                      | 326  |
|   Capital lease obligations                                                 |       34   |       35  |
|     Total current liabilities                                     | 7,206                                    | 5,862  |
|                                                                                  |                                          |   |
| Pension liability                                                                     | 1,519                                    | 2,327  |
| Deferred revenue                                                                      | 642                                      | 634  |
| Term loan                                                                             | 136                                      | 461  |
| Other liabilities                                                                     |     308              |     205  |
|     Total liabilities                                             |  9,811                              |  9,489  |
|                                                                                  |                                          |   |
| Commitments and contingencies                                                         |                                          |   |
|                                                                                  |                                          |   |
| Shareholders' equity:                                                                 |                                          |   |
|   Preferred stock, par value without designation                            |                                          |   |
|    Authorized - 1,000,000 shares, Issued - none                        |                                          |   |
|   Common stock, par value $.01                                              |                                          |   |
|    Authorized - 150,000,000 shares                                     |                                          |   |
|     Issued and outstanding - 16,053,945 and 15,864,205            |                                          |   |
|        at December 31, 2010 and 2009, respectively | 161                                      | 159  |
|   Additional paid-in capital                                                | 81,793                                   | 80,087  |
|   Accumulated deficit                                                       | (53,857)                                      | (51,461) |
|   Accumulated other comprehensive loss                                      |     (487)                 |     (701) |
|      Total shareholders' equity                              | 27,610                                   | 28,084  |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                            | $37,421                                  | $37,573  |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Year Ended December 31,                       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2010                                | 2009    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Product revenues                                                                                                                        | $21,452                                  | $20,807  |
| Service revenues                                                                                                                        |   6,275                        |   4,807  |
| Total revenues                                                                                                                          | 27,727                                   | 25,614  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Cost of sales                                                                                                                           |   8,507                        |   8,017  |
| Gross profit                                                                                                                            | 19,220                                   | 17,597  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Operating expenses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                          |   |
|   Selling, general and administrative                                                                                         | 15,008                                   | 14,031  |
|   Research and development                                                                                                    |   6,648                        |   7,118  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Total operating expenses                                                                                                                | 21,656                                   | 21,149  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Operating loss                                                                                                                          | (2,436)                                       | (3,552) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Interest expense                                                                                                                        | (59)                                          | (57) |
| Other (loss), net                                                                                                                       |      (39)            |       (46) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Loss before income taxes                                                                                                                | (2,534)                                       | (3,655) |
|    Income tax benefit, net                                                                                               |       138  |      538  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Net loss                                                                                                                                | $(2,396)                                 | $(3,117) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Net loss per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                          |   |
|    Basic                                                                                                                 | $  (0.15)                      | $  (0.20) |
|    Diluted                                                                                                               | $  (0.15)                      | $  (0.20) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                          |   |
| Weighted average shares used in computing net loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                          |   |
|   per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                          |   |
|     Basic                                                                                                           | 15,969                                   | 15,765  |
|     Diluted                                                                                                         | 15,969                                   | 15,765  |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Year Ended December 31,                 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2010                                    | 2009 |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                    |   |
|   Net loss                                                                                                                                            | $(2,396)                                | $(3,117) |
|   Adjustments to reconcile net loss to net cash                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                    |   |
|    provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                    |   |
|    Depreciation and amortization                                                                                                                 | 1,043                              | 1,071  |
|    Deferred tax asset allowance                                                                                                                  | 136                                |   |
|    Deferred income tax benefit                                                                                                                   | (278)                                   | (544) |
|    Share-based compensation expense                                                                                                              | 1,770                              | 1,505  |
|    Shares issued for 401(k) match                                                                                                                | 217                                | 234  |
|    Inventory provisions                                                                                                                          | 255                                | 297  |
|    Other                                                                                                                                         | 49                                 | 24  |
|  Changes in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                    |   |
|    Accounts receivable                                                                                                                           | (664)                                   | (278) |
|    Inventories                                                                                                                                   | 42                                 | 41  |
|    Prepaid expenses and other assets                                                                                                             | 200                                | (175) |
|    Accounts payable and accrued expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (42)                                    | 484  |
|    Deferred revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 412                                | 591  |
|    Other liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    327              |    611  |
|   Net cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1,071                              |    744  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                    |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                    |   |
|   Acquisition of property and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (387)                                   | (1,605) |
|   Net cash used in investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (387)                                   | (1,605) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                    |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                    |   |
|   Proceeds from term loan                                                                                                                             | -                             | 977  |
|   Proceeds from exercise of stock options                                                                                                             | 1                             | 34  |
|   Payments on term loan                                                                                                                               | (325)                                   | (190) |
|   Payments on capital lease obligations                                                                                                               |     (33)            |    (44) |
|   Net cash (used in) provided by financing activities                                                                                                 |   (357)                       |    777  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                    |   |
|   Change in cash and cash equivalents                                                                                                                 | 327                                | (84) |
|   Cash and cash equivalents at beginning of  year                                                                                           | 5,238                              | 5,322  |
|   Cash and cash equivalents at end of year                                                                                                            | $5,565                             | $5,238  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                    |   |
| SUPPLEMENTAL CASH FLOW INFORMATION:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                    |   |
|   Interest paid                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $     59  | $     57  |
|   Taxes refunded                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (24)                                    | (5) |
|   Assets acquired under capital lease                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 54                                 | 84  |
|   Deferred pension gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (226)                                   | (84) |

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|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 | Accumulated                                                              |                                               |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|---------------------------------------------|-----------------------------------------|--------------------------------------------------------------------------------------|--------------------------------------------------------------------------|----------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                       |                              |                                        | Additional                              |                                                                                 | Other                                                                    |                                               |
|                                                                                                                                                                                                                                                                                                                       | Common Stock                      | Paid-In                                     | Accumulated                             | Comprehensive                                                                        |                                                                     |
|                                                                                                                                                                                                                                                                                                                       | Shares                            | Amount                                      | Capital                                 | (Deficit)                                                                            | Income (loss)                                                            | Total                                              |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Balance at January 1, 2009                                                 | 15,663                            | $   157                      | $78,316                            | $(48,344)                                                                            | $    (795)                                           | $29,334                                       |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Net loss                                                                   |                              |                                        |                                    | (3,117)                                                                              |                                                                     | (3,117)                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Deferred pension gain, net of tax                                                                                                                                                                                                                                                                                          |                              |                                        |                                    |                                                                                 | 84                                                                  | 84                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Cumulative translation adjustment                                                                                                                                                                                                                                                                                          |                              |                                        |                                    |                                                                                 | 10                                                                  |        10  |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Total comprehensive loss                                                   |                              |                                        |                                    |                                                                                 |                                                                     | (3,023)                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Share-based compensation                                                   |                              |                                        | 1,505                              |                                                                                 |                                                                     | 1,505                                         |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Shares issued upon exercise of stock                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
|   options                                                        | 37                                |                                        | 34                                 |                                                                                 |                                                                     | 34                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Shares issued for 401(k) match                                                                                                                                                                                                                                                                                             |      164 |        2 |      232  |                |              |       234       |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Balance at December 31, 2009                                                                                                                                                                                                                                                                                               | 15,864                            |    159                       | 80,087                             | (51,461)                                                                             |   (701)                                                        | 28,084                                        |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Net loss                                                                   |                              |                                        |                                    | (2,396)                                                                              |                                                                     | (2,396)                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Deferred pension gain, net of tax                                                                                                                                                                                                                                                                                          |                              |                                        |                                    |                                                                                 | 226                                                                 | 226                                           |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Cumulative translation adjustment                                                                                                                                                                                                                                                                                          |                              |                                        |                                    |                                                                                 | (12)                                                                     |       (12)           |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Total comprehensive loss                                                   |                              |                                        |                                    |                                                                                 |                                                                     | (2,182)                                            |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Share-based compensation                                                   |                              |                                        | 1,491                              |                                                                                 |                                                                     | 1,491                                         |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Shares issued upon exercise of stock                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
|   options                                                        | 1                                 |                                        |                                    |                                                                                 |                                                                     | -                                             |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Shares issued for vesting of restricted                                                                                                                                                                                                                                                                                    | 75                                | 1                                           | (1)                                     |                                                                                 |                                                                     | -                                             |
|   stock units                                                    |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Shares issued for 401(k) match                                                                                                                                                                                                                                                                                             |      114 |       1       |      216  |                |                   |       217       |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
|                                                                                                                                                                                                                                                                                                                       |                              |                                        |                                    |                                                                                 |                                                                     |                                               |
| Balance at December 31, 2010                                                                                                                                                                                                                                                                                               | 16,054                            | $  161                            | $81,793                            | $(53,857)                                                                            | $  (487)                                                       | $27,610                                       |

----

----

| Machinery and equipment | 3-10 years                                                                   |
|-------------------------|------------------------------------------------------------------------------|
| Furniture and fixtures  | 5-10 years                                                                   |
| Leasehold improvements  | Shorter of the life of improvement or  remaining life of the lease |

----

----

----

|                                                         | Year Ended December 31,                                       |
|--------------------------------------------------------------|---------------------------------------------------------------|
|                                                         | 2010                                                     | 2009 |
| Basic weighted average shares outstanding                    | 15,969                                                        | 15,765 |
|    Effect of dilutive stock options           |           - |           - |
| Diluted weighted average shares outstanding                  | 15,969                                                        | 15,765 |
|                                                         |                                                          |   |
| Weighted average shares which are not included               |                                                          |   |
|   in the calculation of diluted earnings per share |                                                          |   |
|   because their impact is antidilutive             |                                                          |   |
|      Stock options                  | 3,336                                                         | 3,460 |
|      Restricted stock units         |  1,194                                                   |     130 |
|                                                         |  4,530                                                   |  3,590 |

----

----

|             | December 31,    |
|------------------|--------------------------------|
|             | 2010                           | 2009 |
| Finished goods   | $   312         | $   492 |
| Work-in-progress | 259                            | 308 |
| Raw material     | 1,647                          | 1,715 |
|             | $2,218                         | $2,515 |

----

|                            | 2010                             |                      |
|---------------------------------|----------------------------------|---------------------------|
|                            | Gross                            | Accumulated               | Net | Estimated |
|                            | Amount                           | Amortization              | Amount | Useful Life |
| Tradenames                      | $   304           | $  60           | $244 | 15 years |
| Proprietary technology          | 620                              | 186                       | 434 | 10 years |
| Non-compete agreement           | 25                               | 25                        | - | 3 years |
| Customer relationships          | 170                              | 101                       | 69 | 10 years |
| Domain name and related website |      23 |     7 |   16 | 15 years |
|                            | $1,142                           | $379                      | $763 |   |

|                            | 2009                             |                      |                             |
|---------------------------------|----------------------------------|---------------------------|----------------------------------|
|                            | Gross                            | Accumulated               | Net                              | Estimated |
|                            | Amount                           | Amortization              | Amount                           | Useful Life |
| Tradenames                      | $   304           | $   40     | $   264           | 15 years |
| Proprietary technology          | 620                              | 124                       | 496                              | 10 years |
| Non-compete agreement           | 25                               | 16                        | 9                                | 3 years |
| Customer relationships          | 170                              | 71                        | 99                               | 10 years |
| Domain name and related website |      23 |     6 |      17 | 15 years |
|                            | $1,142                           | $ 257                | $885                             |   |

| 2011       | $105 |
|------------|------|
| 2012       | 99   |
| 2013       | 95   |
| 2014       | 92   |
| 2015       | 89   |
| Thereafter | 283  |

|                                                                         | December 31,    |
|------------------------------------------------------------------------------|--------------------------------|
|                                                                         | 2010                           | 2009 |
| Machinery and equipment                                                      | $4,322                         | $4,031 |
| Furniture and fixtures                                                       | 694                            | 1,439 |
| Leasehold improvements                                                       |    162          |    232 |
|                                                                         | 5,178                          | 5,702 |
| Less: Accumulated depreciation                                               |                           |   |
|           and amortization | 3,603                          | 3,596 |
|                                                                         | $1,575                         | $2,106 |

----

|                                          | December 31,    |
|-----------------------------------------------|--------------------------------|
|                                          | 2010                           | 2009 |
| Accounts payable                              | $1,401                         | $1,839 |
| Accrued salaries, and other employee benefits | 1,304                          | 711 |
| Accrued warranty (Note 13)                    | 50                             | 50 |
| Accrued medical costs                         | 256                            | 269 |
| Other                                         |    285          |    190 |
|                                          | $3,296                         | $3,059 |

----

| 2011 | $326 |
|------|------|
| 2012 | 136  |

|                                    | 2010   | 2009  |
|-----------------------------------------|--------|-------|
| Expected volatility                     | 73.82% | 91.6% |
| Risk-free interest rate                 | 1.70%  | 2.39% |
| Expected dividend yield                 | 0.00%  | 0.00% |
| Expected life (in years)                | 5.81   | 6.0   |
| Estimated fair value per option granted | $1.18  | $1.02 |

|                                |                |                                      | Weighted                 |                                      |
|-------------------------------------|---------------------|-------------------------------------------|--------------------------|-------------------------------------------|
|                                |                | Weighted                                  | average                  |                                      |
|                                | Number              | average                                   | remaining                | Aggregate                                 |
|                                | of                  | exercise                                  | contractual              | intrinsic                                 |
|                                |  options  |    price    |  life (years)  |    value    |
| Outstanding at January 1, 2010      | 3,324,094      | $2.55                                     |                     |                                      |
|   Granted                 | 232,560        | 1.84                                      |                     |                                      |
|   Exercised               | (517)               | 1.70                                      |                     |                                      |
|   Forfeited and cancelled |  (144,564)     | 4.17                                      |                     |                                      |
| Outstanding at December 31, 2010    | 3,411,573      | 2.39                                      | 6.20                     | $(642,359)                                |
| Exercisable at December 31, 2010    | 2,386,867      | 2.50                                      | 5.23                     | $(706,846)                                |

----

|                           |            |   | Weighted average |
|--------------------------------|-----------------|--------|------------------|
|                           |            |   | grant date       |
|                           | Shares          |   | fair value       |
| Nonvested at January 1, 2010   | 225,000    |   | $1.70            |
| Granted                        | 1,819,990  |   | 1.91             |
| Vested                         | (74,999)        |   | 1.70             |
| Forfeited and cancelled        |  (100,000) |   | 1.66             |
| Nonvested at December 31, 2010 | 1,869,991  |   | 1.90             |

|                                | 2010        | 2009        |
|-------------------------------------|----------------------------|----------------------------|
| Cost of sales                       | $   166,480 | $   164,680 |
| Research and development            | 565,629                    | 571,670                    |
| Selling, general and administrative | 1,037,584                  |    768,506  |
|                                | $1,769,693                 | $1,504,856                 |

----

|              | Foreign                          |   | Pension                                      |   | Accumulated                                        |
|-------------------|----------------------------------|--------|----------------------------------------------|--------|----------------------------------------------------|
|              | Currency                         |   | Benefit                                      |   | Other                                              |
|              | Translation                      |   | Costs,                                       |   | Comprehensive                                      |
|              | Adjustments                      |   | Net of Tax                                   |   | Income (Loss)                                      |
| January 1, 2009   | $   (23)          |   | $  (772)                           |   | $   (795)                           |
| Change for period |     10  |   |       84  |   |        94  |
| December 31, 2009 | (13)                             |   | (688)                                        |   | (701)                                              |
| Change for period |    (12)           |   |     226             |   |    214                         |
| December 31, 2010 | $   (25)          |   | $  (462)                           |   | $   (487)                           |

|                                         | December 31,                                       |
|----------------------------------------------|----------------------------------------------------|
|                                         | 2010                                     | 2009   |
| Deferred tax assets:                         |                                               |   |
|   Net operating loss carryforwards | $17,027                                            | $17,366 |
|   Inventory                        | 2,181                                              | 2,161 |
|   Other liabilities                | 1,539                                              | 1,040 |
|   Fixed assets                     | 255                                                | 250 |
|   Other temporary differences      |         99 |      131 |
|                                         | 21,101                                             | 20,948 |
| Deferred tax valuation allowance             |       889            |      753 |
|                                         | $20,212                                            | $20,195 |

----

|                          | 2010                                   | 2009                                                    |
|-------------------------------|----------------------------------------|---------------------------------------------------------|
| Current:                      |                                   |                                                    |
|   State and foreign | $   (28)                | $   (29)                                 |
|   Federal           |      22  |      23                   |
|                          |      (6)      |      (6)                       |
| Deferred:                     |                                   |                                                    |
|   State             | 14                                | 43                                                 |
|   Federal           |    266             |    501                              |
|                          |    280             |    544                              |
| Valuation allowance           |  (136)                            |         -  |
| Income tax benefit, net       | $   138            | $   538                             |

|                                                                                                                                                                                                                                                                                                                                                  | 2010                   |                  | 2009   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|-----------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                  | Amount                 | %           |   | Amount | %   |
| Federal income tax at                                                                                                                                                                                                                                                                                                                                 |                   |                  |   |   |   |
|  statutory rate                                                              | $  862  | 34.0             |   | $1,243  | 34.0  |
| Permanent differences                                                             | (605)                  | (23.9)                |   | (575) | (14.4) |
| International taxes and rate                                                                                                                                                                                                                                                                                                                          |                   |                  |   |   |   |
|  differentials and other                                                     | 17                | 0.7              |   | (130) | (4.9) |
| Effect of increase in valuation                                                                                                                                                                                                                                                                                                                       |                   |                  |   |   |   |
|  allowance for deferred tax assets                                                                                                                                                                                                                                                                                                               |  (136)            |  (5.4)           |   |         -  |        -  |
|                                                                                                                                                                                                                                                                                                                                                  | $  138  |   5.4  |   | $   538  |  14.7  |

----

| ·   | Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. |
|--------------------|--------------------------------------------------------------------------------------------------------------------|

| ·   | Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                  | 2010                                            | 2009                                            |
|-----------------------------------------------------------------------|-----------------------------------------------------------|-----------------------------------------------------------|
| Reconciliation of projected benefit obligation:                       |                                                      |                                                      |
|   Obligation at January 1                                   | $  6,496                                   | $  5,688                                   |
|   Service cost                                              | 337                                                  | 404                                                  |
|   Interest cost                                             | 336                                                  | 329                                                  |
|   Actuarial (gain) loss                                     | (400)                                                     | 250                                                  |
|   Benefit payments                                          |    (903)                                   |    (175)                                   |
| Obligation at December 31                                             | $  5,866                                   | $  6,496                                   |
|                                                                  |                                                      |                                                      |
| Reconciliation of fair value of plan assets:                          |                                                      |                                                      |
|   Fair value of plan assets at January 1                    | $  4,169                                   | $  3,778                                   |
|   Actual return on plan assets                              | 277                                                  | 566                                                  |
|   Employer contributions                                    | 100                                                  | -                                                    |
|   Benefit payments                                          |    (903)                                   |    (175)                                   |
| Fair value of plan assets at December 31                              | $  3,643                                   | $  4,169                                   |
|                                                                  |                                                      |                                                      |
| Funded Status:                                                        |                                                      |                                                      |
|   Funded (unfunded) status at December 31                   | $ (2,223)                                            | $ (2,327)                                            |
|                                                                  |                                                      |                                                      |
|                                                                  |                                                      |                                                      |
| Projected benefit obligation                                          | $   5,866                             | $   6,496                             |
| Accumulated benefit obligation                                        | 5,422                                                | 5,545                                                |
| Fair value of plan assets                                             | 3,643                                                | 4,169                                                |
|                                                                  |                                                      |                                                      |
| Amounts recognized in consolidated                                    |                                                      |                                                      |
|   balance sheets:                                           |                                                      |                                                      |
|     Prior service credit                          | $        43  | $        69  |
|     Net loss                                      |     (760)                             |  (1,138)                                             |
|     Accumulated other comprehensive income (loss) | (717)                                                     | (1,069)                                                   |
|                                                                  |                                                      |                                                      |
| Net periodic benefit cost in excess of                                |                                                      |                                                      |
|   accumulated contributions                                 |  (1,506)                                             |  (1,258)                                             |
| Net amount recognized in consolidated                                 |                                                      |                                                      |
|   balance sheet                                             | $ (2,223)                                            | $ (2,327)                                            |

----

|                                                                        | 2010                             | 2009                             |
|-----------------------------------------------------------------------------|----------------------------------|----------------------------------|
| Components of net periodic pension cost:                                    |                             |                             |
|   Service cost                                                    | $  337            | $  403            |
|   Interest cost                                                   | 336                         | 329                         |
|   Expected return on plan assets                                  | (299)                            | (256)                            |
|   Actuarial loss                                                  | -                           | 67                          |
|   Amortization of prior service credit                            |  (25)                       |   (25)                 |
|   Net periodic benefit cost                                       |  349                   |   518             |
|                                                                        |                             |                             |
| Other changes in plan assets and benefit obligations                        |                             |                             |
|   recognized in other comprehensive income:                       |                             |                             |
|     Net actuarial gain                                  | (378)                            | (59)                             |
|     Amortization of net loss                            | -                           | (67)                             |
|     Amortization of prior service cost                  |     25  |     25  |
|     Total loss (gain) recognized in other comprehensive |                             |                             |
|       (income) loss                           | (353)                            |  (101)                      |
|                                                                        |                             |                             |
| Total recognized in net periodic benefit cost and other                     |                             |                             |
|   comprehensive (income) loss                                     | $    (4)     | $  417            |

| Weighted-average assumptions used to determine net                 |   |   |
|--------------------------------------------------------------------|--------|--------|
|   periodic benefit cost for the years ended December 31: |   |   |
|     Discount rate                              | 6.00%  | 6.20%  |
|     Expected long-term return on plan assets   | 7.50%  | 7.50%  |
|     Rate of compensation increase              | 3.50%  | 4.00%  |
|                                                               |   |   |
| Weighted-average assumptions used to determine pension             |   |   |
|   benefit obligation as of December 31:                  |   |   |
|     Discount rate                              | 5.61%  | 6.00%  |
|     Rate of compensation increase              | 2.00%  | 4.00%  |

----

|                      | Target             |   | Actual     |
|---------------------------|--------------------|--------|------------|
|                      | Allocation Range   |   | Allocation |
| Asset Category            | 2010               |   | 2010       | 2009 |
| Equity securities         | 55% (+/- 1 to 5%)  |   | 58%        | 55% |
| Debt securities           | 35% (+/- 1 to 5%)  |   | 32%        | 30% |
| Cash and cash equivalents | 10% (+/- 1 to 10%) |   | 10%        | 15% |

| 2011         | $   187 |
|--------------|------------------------|
| 2012         | 186                    |
| 2013         | 462                    |
| 2014         | 235                    |
| 2015         | 204                    |
| 2016 to 2020 | 2,530                  |

|                                | Level 1          | Level 2                                                               | Level 3                                                    | Total       |
|-------------------------------------|----------------------------|---------------------------------------------------------------------------------|----------------------------------------------------------------------|-------------|
| Government and other                |                       |                                                                            |                                                                 |        |
|   fixed income securities | $   312,418 | $ 840,707                                                                  | $           - | $1,153, 125 |
|                                |                       |                                                                            |                                                                 |        |
| Equities                            | 2,098,522                  |              - |            -  | 2,098,522   |
|                                | $2,410,940                 | $ 840,707                                                                  | $           - | $3,251,647  |

----

|                           | 2010             | 2009                        |
|--------------------------------|-----------------------|-----------------------------|
| Balance at beginning of period | $  50  | $   50  |
| Provisions                     | 19               | 9                      |
| Warranty services provided     | (19)                  |    (9)       |
|                           | $  50  | $   50  |

|                                                                                                                                                                                                                                           | Operating              | Capital                                 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|-----------------------------------------|
| 2011                                             | $   629 |    $   34 |
| 2012                                             | 653                    | 38                                      |
| 2013                                             | 677                    | 20                                      |
| 2014                                             | 688                    | 13                                      |
| 2015                                             | 671                    | 10                                      |
| thereafter                                       | 2,592                  | -                                       |

----

|                              | 2010              | 2009              |
|-----------------------------------|-------------------|-------------------|
| Revenues from external customers: |              |              |
|    United States   | $20,732           | $18,525           |
|    Europe          | 4,295             | 4,686             |
|    Other           |   2,700 |   2,403 |
|                              | $27,727           | $25,614           |

----

----

| ·   | pertain to the maintenance of records that in reasonable detail accurately and fairly reflect our transactions and dispositions of our assets; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | provide reasonable assurance that our transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition or disposition of our assets that could have a material effect on the financial statements. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ExhibitNumber |  Description                                                                                                                                                                                                                                                                                                        |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                                                                                                                                                                                                     |
| 3.1           | Restated Certificate of Incorporation filed with the State of New York on December 27, 1991 (previously filed as Exhibit 3(a) to the Registrant's Annual Report on Form 10-K for the fiscal year ended June 30, 1991 (File No. 000-05110) and incorporated herein by reference)                                          |
| 3.2           | Certificate of Amendment of the Restated Certificate of Incorporation filed with the State of New York on February 7, 1997 (previously filed as Exhibit 3(c) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1996 (File No. 001-09014) and incorporated herein by reference)       |
| 3.3           | Certificate of Amendment of the Restated Certificate of Incorporation filed with the State of New York on September 19, 2007 (previously filed as Exhibit 3(i) to the Registrant's Current Report on Form 8-K filed with the Commission on September 24, 2007 (File No. 001-09014) and incorporated herein by reference) |
| 3.4           | Amended and Restated By-Laws (previously filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the Commission on May 15, 2009 (File No. 001-09014) and incorporated herein by reference)                                                                                                        |
| 10.1*         | Indemnification Agreement between Chyron Corporation and Christopher R. Kelly effective as of August 30, 1999 (previously filed as Exhibit 10(f) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (File No. 001-09014) and incorporated herein by reference)                   |
| 10.2*         | Indemnification Agreement between Chyron Corporation and Michael Wellesley-Wesley effective as of November 19, 1996 previously filed as Exhibit 10(xx) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1996 (File No. 001-09014) and incorporated herein by reference)             |
| 10.3*         | Indemnification Agreement between Chyron Corporation and Jerry Kieliszak effective as of March 1, 2002 (previously filed as Exhibit 10(s) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (File No. 001-09014) and incorporated herein by reference)                          |

----

| 10.4*  | Indemnification Agreement between Chyron Corporation and Kevin Prince effective as of October 1, 2004 (previously filed as Exhibit 10(h) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2004 (File No. 001-09014) and incorporated herein by reference)                                                          |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.5*  | Indemnification Agreement between Chyron Corporation and Michael Wheeler effective as of February 1, 2006( previously filed as Exhibit 10(g) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 (File No. 001-09014) and incorporated herein by reference)                                                      |
| 10.6*  | Indemnification Agreement between Chyron Corporation and Peter Frey effective as of May 14, 2008 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on May 20, 2008 (File No. 001-09014) and incorporated herein by reference)                                                                  |
| 10.7*  | Indemnification Agreement between Chyron Corporation and Roger L. Ogden effective as of May 14, 2008 (previously filed as Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the Commission on May 20, 2008 (File No. 001-09014) and incorporated herein by reference)                                                         |
| 10.8*  | Indemnification Agreement between Chyron Corporation and Robert A. Rayne effective as of May 14, 2008 (previously filed as Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed with the Commission on May 20, 2008 (File No. 001-09014) and incorporated herein by reference)                                                             |
| 10.9*  | Indemnification Agreement between Chyron Corporation and Susan Clark-Johnson effective as of March 10, 2010 (previously filed as Exhibit 10.30 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (File No. 001-09014) and incorporated herein by reference)                                                    |
| 10.10* | Indemnification Agreement between Chyron Corporation and Dawn Johnston effective as of April 3, 2002 (previously filed as Exhibit 10(i) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 (File No. 001-09014) and incorporated herein by reference)                                                           |
| 10.11* | Indemnification Agreement between Chyron Corporation and Michael Wellesley-Wesley, Trustee, Chyron Corporation Employee's Pension Plan, dated February 1, 2003 (previously filed as Exhibit 10(j) to the Registrant's Annual Report for the fiscal year ended December 31, 2007 (File No. 001-09014) and incorporated herein by reference)              |
| 10.12* | Indemnification Agreement between Chyron Corporation and Jerry Kieliszak, Trustee, Chyron Corporation Employee's Pension Plan, dated March 1, 2002  (previously filed as Exhibit 10(ac) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (File No. 001-09014) and incorporated herein by reference) |
| 10.13* | Amended and Restated Employment Agreement by and between Chyron Corporation and Michael Wellesley-Wesley effective as of September 1, 2010 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on August 9, 2010 (File No. 001-09014) and incorporated herein by reference)                      |
| 10.14* | Change in Control Agreement between Michael Wellesley-Wesley and Chyron Corporation dated September 19, 2008 (previously filed as Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the Commission on September 24, 2008 (File No. 001-09014) and incorporated herein by reference)                                                |
| 10.15* | First Amendment to Change in Control Agreement by and between Chyron Corporation and Michael Wellesley-Wesley dated June 11, 2010 (previously filed as Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the Commission on June 14, 2010 (File No. 001-09014) and incorporated herein by reference)                                |
| 10.16* | Change in Control Agreement between Chyron Corporation and Jerry Kieliszak dated October 26, 2007 (previously filed as Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the Commission on October 31, 2007 (File No. 001-09014) and incorporated herein by reference)                                                             |

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| 10.17* | Amendment to Change in Control Agreement by and between Chyron Corporation and Jerry Kieliszak and dated June 11, 2010 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on June 14, 2010 (File No. 001-09014) and incorporated herein by reference)                       |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.18* | Change in Control Agreement between Chyron Corporation and Kevin Prince dated October 26, 2007 (previously filed as Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed with the Commission on October 31, 2007 (File No. 001-09014) and incorporated herein by reference)                                            |
| 10.19* | Amendment to Change in Control Agreement by and between Chyron Corporation and Kevin Prince dated June 11, 2010 (previously filed as Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed with the Commission on June 14, 2010 (File No. 001-09014) and incorporated herein by reference)                              |
| 10.20* | Terms of Severance Agreement between Chyron Corporation and Jerry Kieliszak dated October 26, 2007 (previously filed as Exhibit 10.5 to the Registrant's Current Report on Form 8-K filed with the Commission on October 31, 2007 (File No. 001-09014) and incorporated herein by reference)                                        |
| 10.21* | Chyron Corporation 1999 Incentive Compensation Plan (previously filed as Exhibit 1 to the Registrant's Definitive Proxy Statement on Schedule 14A filed with the Commission on April 7, 1999 (SEC File No. 000-05110) and incorporated herein by reference)                                                                         |
| 10.22* | Chyron Corporation 2008 Long-Term Incentive Plan approved on May 14, 2008 and amended on May 19, 2010 (previously filed as Exhibit 99.1 to the Registrant's Current Report on Form 8-K filed with the Commission on May 25, 2010 (File No. 001-09014) and incorporated herein by reference)                                         |
| 10.23* | Chyron Corporation Employees Severance Plan amended August 9, 2006 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on August 14, 2006 (File No. 001-09014) and incorporated herein by reference)                                                                         |
| 10.24  | Loan and Security Agreement between Silicon Valley Bank and Chyron Corporation dated as of June 19, 2008 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on June 23, 2008 (File No. 001-09014) and incorporated herein by reference)                                     |
| 10.25  | First Loan Modification Agreement between Silicon Valley Bank and Chyron Corporation dated April 16, 2009 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on June 18, 2009 (File No. 001-09014) and incorporated herein by reference)                                    |
| 10.26  | Second Loan Modification Agreement between Silicon Valley Bank and Chyron Corporation dated June 18, 2009 (previously filed as Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the Commission on June 18, 2009 (File No. 001-09014) and incorporated herein by reference)                                    |
| 10.27  | Third Loan Modification Agreement between Silicon Valley Bank and Chyron Corporation dated March 24, 2010 and effective as of March31, 2010 (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on March 30, 2010 (File No. 001-09014) and incorporated herein by reference) |
| 10.28  | Asset Purchase Agreement by and among Chyron Corporation, AXIS Graphics, LLC, and Pyburn Films, Inc. (previously filed as Exhibit 10.1 the Registrant's Current Report on Form 8-K filed with the Commission on January 17, 2008 (File No. 001-09014) and incorporated herein by reference)                                         |
| 10.29  | Subordinated 5% Promissory Note issued by Chyron Corporation to AXIS Graphics, LLC (previously filed as Exhibit 10.2 the Registrant's Current Report on Form 8-K filed with the Commission on January 17, 2008 (File No. 001-09014) and incorporated herein by reference)                                                           |
| 10.30  | Second Amendment to Lease by and between Rechler Equity B-1 LLC and Chyron Corporation dated January 20, 2009 (previously filed as exhibit 10.29 to the Registrant's Annual Report on Form 10-K filed with the commission on March 25, 2009 (File No. 001-09014) and incorporated herein by reference)                              |

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| 10.31* | Consulting Agreement between Chyron Corporation and Eugene Weber dated December 19, 2008 (previously filed as Exhibit 99.1 to the Registrant's Current Report on Form 8-K filed with the Commission on December 19, 2008 (File No. 001-09014) and incorporated herein by reference)    |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.32* | 2009 Chyron Corporation Salary Deferral Plan for Highly Compensated Employees (previously filed as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the Commission on December 18, 2008 (File No. 001-09014) and incorporated herein by reference)               |
| 10.33* | Form of Restricted Stock Unit Award under the Chyron Corporation 2008 Long-Term Incentive Plan (previously filed as Exhibit 10.1 the Registrant's Current Report on Form 8-K filed with the Commission on November 13, 2009 (File No. 001-09014) and incorporated herein by reference) |
| 10.34* | Chyron Corporation Non-Employee Director Compensation Policy adopted December 9, 2009                                                                                                                                                                                                  |
| 21.1   | Subsidiaries of the Registrant**                                                                                                                                                                                                                                                       |
| 23.1   | Consent of BDO USA, LLP **                                                                                                                                                                                                                                                             |
| 31.1   | Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**                                                                                                                                                                               |
| 31.2   | Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**                                                                                                                                                                               |
| 32     | Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**                                                                                                                                              |

| * | Management contract or compensatory plan or arrangement |
|---|---------------------------------------------------------|

|    ** | Filed herewith |
|----------------------|----------------|

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|                 | CHYRON CORPORATION                    |
|----------------------|---------------------------------------|
|                 |                                  |
| Date: March 23, 2011 | /s/ Michael Wellesley-Wesley          |
|                 | Michael Wellesley-Wesley              |
|                 | President and Chief Executive Officer |
|                 | (Principal Executive Officer)         |

| Signature                    |   | Title                                     | Date           |
|------------------------------|--------|-------------------------------------------|----------------|
|                         |   |                                      |           |
| /s/ Michael Wellesley-Wesley |   | President, CEO and Director               | March 23, 2011 |
| Michael Wellesley-Wesley     |   | (principal executive officer)             |           |
|                         |   |                                      |           |
| /s/ Jerry Kieliszak          |   | Senior Vice President and Chief Financial | March 23, 2011 |
| Jerry Kieliszak              |   | Officer (principal financial officer)     |           |
|                         |   |                                      |           |
| /s/ Roger L. Ogden           |   | Chairman of the Board of Directors        | March 23, 2011 |
| Roger L. Ogden               |   |                                      |           |
|                         |   |                                      |           |
| /s/ Susan Clark-Johnson      |   | Director                                  | March 23, 2011 |
| Susan Clark-Johnson          |   |                                      |           |
|                         |   |                                      |           |
| /s/ Peter F. Frey            |   | Director                                  | March 23, 2011 |
| Peter F. Frey                |   |                                      |           |
|                         |   |                                      |           |
| /s/ Christopher R. Kelly     |   | Director                                  | March 23, 2011 |
| Christopher R. Kelly         |   |                                      |           |
|                         |   |                                      |           |
| /s/ Robert A. Rayne          |   | Director                                  | March 23, 2011 |
| Robert A. Rayne              |   |                                      |           |
|                         |   |                                      |           |
| /s/ Michael C. Wheeler       |   | Director                                  | March 23, 2011 |
| Michael C. Wheeler           |   |                                      |           |
|                         |   |                                      |           |
| /s/ Dawn R. Johnston         |   | Corporate Controller                      | March 23, 2011 |
| Dawn R. Johnston             |   |                                      |           |

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