----

----

| CHYRON CORPORATION                                                       |
|--------------------------------------------------------------------------|
| (Name of Registrant as Specified In Its Charter)                         |
|                                                                     |
| (Name of Person(s) Filing Proxy Statement, if other than the Registrant) |

|   | (1) | Title of each class of securities to which transaction applies:                                                                                                                                               |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | Aggregate Number of securities to which transaction applies:                                                                                                                                                  |
|   | (3) | Per unit price or other underlying value of transaction computed pursuant to  Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):  |
|   | (4) | Proposed maximum aggregate value of transaction:                                                                                                                                                              |
|   | (5) | Total fee paid:                                                                                                                                                                                               |

|   | (1) | Amount Previously Paid:                        |
|--------|-----|-----------------------------------------------------|
|   | (2) | Form, Schedule or Registration Statement No.:  |
|   | (3) | Filing Party:                                  |
|   | (4) | Date Filed:                                    |

----

|   | Sincerely,                   |
|--------|------------------------------|
|   |                         |
|   | /s/ Michael Wellesley-Wesley |
|   | Michael Wellesley-Wesley     |
|   | President, Chief Executive   |
|   | Officer and Director         |

----

| 1.   | To elect seven (7) directors of the Company to hold office until the next Annual Meeting or until their respective successors are duly elected and qualified, or until their earlier death, resignation or removal; |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | To ratify the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2012; and |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | To transact such other business as may properly come before the Annual Meeting or any adjournments thereof. |
|----------------|-------------------------------------------------------------------------------------------------------------|

|   | By Order of the Board of Directors, |
|--------|-------------------------------------|
|   |                                |
|   | /s/ Jerry Kieliszak                 |
|   | Jerry Kieliszak                     |
|   | Corporate Secretary                 |

| IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE 2012 ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON MAY 23, 2012The Company’s Proxy Statement for the 2012 Annual Meeting of Shareholders and the Annual Report on Form 10-K for the fiscal year ended December 31, 2011, are available at www.proxyvote.com. To view these materials please have your 12-digit control number(s) available. The control number appears on your proxy card/notice. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Page   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| GENERAL INFORMATION CONCERNING THE ANNUAL MEETING                                                                                                                          | 1      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| PROPOSAL 1 - ELECTION OF DIRECTORS                                                                                                                                         | 7      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| COMPENSATION COMMITTEE REPORT                                                                                                                                              | 13     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| COMPENSATION DISCUSSION AND ANALYSIS                                                                                                                                       | 14     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| EXECUTIVE COMPENSATION                                                                                                                                                     | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| DIRECTOR COMPENSATION                                                                                                                                                      | 30     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| INDEMNIFICATION OF DIRECTORS AND OFFICERS                                                                                                                                  | 31     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 32     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| EQUITY COMPENSATION PLAN INFORMATION                                                                                                                                       | 32     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| AUDIT COMMITTEE REPORT                                                                                                                                                     | 33     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| PROPOSAL 2 - RATIFICATION OF THE APPOINTMENT OF INDEPENDENT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|   REGISTERED PUBLIC ACCOUNTING FIRM                                                                                                                              | 34     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| PRINCIPAL SHAREHOLDERS                                                                                                                                                     | 36     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                                                                                                                             | 38     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 38     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| OTHER MATTERS ARISING AT THE ANNUAL MEETING                                                                                                                                | 38     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| SHAREHOLDER PROPOSALS                                                                                                                                                      | 39     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| ANNUAL REPORT ON FORM 10-K                                                                                                                                                 | 39     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |

----

----

| ·   | you received a proxy card by mail, you may vote your shares in one of four ways: |
|--------------------|----------------------------------------------------------------------------------|

| ·   | Vote by mail by marking, signing and dating your proxy card and returning it in the business reply envelope provided and return it to Chyron Corporation, c/o Broadridge, 51 Mercedes Way, Edgewood, NY, USA 11717; or |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Vote via the Internet by going to www.proxyvote.com, have your vote instruction form in hand, and follow the simple instructions. (When voting online, you may also give your consent to have all future proxy materials delivered to you electronically.); or |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Vote via telephone by calling, toll-free, 1-800-690-6903 and have your vote instruction form in hand and follow the recorded instructions; or |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Attend and vote at the Annual Meeting in person. |
|--------------------|--------------------------------------------------|

| ·   | you are enrolled in the electronic delivery program and/or received a Notice, you may vote your shares in one of three ways: |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

| ·   | via the Internet (see instructions above); or |
|--------------------|-----------------------------------------------|

| ·   | attend and vote at the Annual Meeting in person; or |
|--------------------|-----------------------------------------------------|

| ·   | if you request to receive a paper copy of the proxy materials, you can vote by mail (see instructions above). |
|--------------------|---------------------------------------------------------------------------------------------------------------|

----

| ·   | “FOR” the election of the nominees for director; and |
|--------------------|------------------------------------------------------------------|

| ·   | “FOR” the ratification of the selection of our independent registered public accounting firm for the fiscal year ending December 31, 2012. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Proposal 1 – Election of Directors | The nominees for director who receive the most votes (also known as a “plurality” of the votes cast) will be elected. You may vote either FOR all of the nominees, WITHHOLD your vote from all of the nominees or WITHHOLD your vote from any one or more of the nominees. Votes that are withheld will not be included in the vote tally for the election of directors. Brokerage firms do not have the authority to vote customers’ unvoted shares held by the firms in street name for the election of directors. As a result, any shares not voted by a customer will be treated as a broker non-vote. Such broker non-votes will have no effect on the results of this vote. |
|------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Proposal 2 – Ratification of the Appointment of Independent Registered Public Accounting Firm | The affirmative vote of the majority of the votes cast affirmatively or negatively for this proposal is required to ratify the selection of our independent registered public accounting firm. Abstentions will have no effect on the results of this vote. Brokerage firms have authority to vote customers’ unvoted shares held by the firms in street name on this proposal. If a broker does not exercise this authority, such broker non-votes will have no effect on the results of this vote. We are not required to obtain the approval of our shareholders to select our independent registered public accounting firm. However, if our shareholders do not ratify the selection of BDO USA, LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2012, our Audit Committee of our Board of Directors will reconsider its selection. |
|-----------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                        |                                                                  | Director of the |
|-----------------------------|-----------------------------------------------------------------------|-----------------|
| Name                        | Company Position and Offices Held                                     | Company Since   |
|                        |                                                                  |            |
| Susan Clark-Johnson         | Director, Member of the Audit Committee and                           | March 2010      |
|                        |   Member of the Compensation Committee                      |            |
|                        |                                                                  |            |
| Peter F. Frey               | Director, Chairman of the Audit Committee                             | May 2008        |
|                        |                                                                  |            |
| Christopher R. Kelly        | Director, Member of the Compensation                                  | August 1999     |
|                        |   Committee, Chairman of the Corporate                      |            |
|                        |   Governance and Nominating Committee                       |            |
|                        |                                                                  |            |
| Roger L. Ogden              | Chairman of the Board of Directors,                                   | May 2008        |
|                        |   Member of the Audit Committee and Chairman                |            |
|                        |   of the Compensation Committee                             |            |
|                        |                                                                  |            |
| Robert A. Rayne             | Director, Member of the Corporate Governance                          | May 2008        |
|                        |   and Nominating Committee                                  |            |
|                        |                                                                  |            |
| Michael I. Wellesley-Wesley | President, Chief Executive Officer and Director                       | May 1995        |
|                        |                                                                  |            |
| Michael C. Wheeler          | Director, Member of the Corporate Governance and Nominating Committee | February 2006   |

----

----

----

----

----

----

----

| ·   | salary; |
|--------------------|---------|

| ·   | annual performance-based cash and/or equity awards; |
|--------------------|-----------------------------------------------------|

| ·   | long-term incentive equity awards; and |
|--------------------|----------------------------------------|

| ·   | other fringe benefits and perquisites. |
|--------------------|----------------------------------------|

----

----

----

|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   |      |   |   | Change in |   |    |      |   |   |   |   |
|-------------------------------|------------|--------|---------|---------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|-----------|--------|--------|-----------|--------|---------|-----------|--------|--------|--------|--------|
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   |      |   |   | Pension   |   |    |      |   |   |   |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   |      |   |   | Value and |   |    |      |   |   |   |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   | Non-      |   |   | Non-      |   |    |      |   |   |   |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   | Equity    |   |   | qualified |   |    |      |   |   |   |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   | Incentive |   |   | Deferred  |   |    |      |   |   |   |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   | Plan      |   |   | Compen-   |   |    | All Other |   |   |   |   |
| Name & Principal          |       |   |    |    |   |   |   |   | Stock  |   |   | Option  |   |   | Compen-   |   |   | sation    |   |    | Compen-   |   |   |   |   |
| Position                      | Year       |   | Salary1 |    |   | Bonus2 |   |   | Award3 |   |   | Award4  |   |   | sation5   |   |   | Earnings6 |   |    | sation7   |   |   | Total  |   |
|                          |       |   | ($)     |    |   | ($)    |   |   | ($)    |   |   | ($)     |   |   | ($)       |   |   | ($)       |   |    | ($)       |   |   | ($)    |   |
| (a)                           | (b)        |   | (c)     |    |   | (d)    |   |   | (e)    |   |   | (f)     |   |   | (g)       |   |   | (h)       |   |    | (i)       |   |   | (j)    |   |
| Michael                       |       |   |    |    |   |   |   |   |   |   |   |    |   |   |      |   |   |      |   |    |      |   |   |   |   |
| Wellesley-Wesley              | 2011  |   |    | 476,186 |   |   |   | 0      |   |   |   | 83,625  |   |   |      | 0      |   |      |   | 0       |      |   |   | 69,881 |   |   |   | 43,164 |   |   |   | 672,856 |   |
|  President & Chief   | 2010  |   |    | 464,207 |   |   |   | 0      |   |   |   | 64,887  |   |   |      | 0      |   |      |   | 140,346 |      |   |   | 42,171 |   |   |   | 35,387 |   |   |   | 746,998 |   |
|  Executive Officer  | 2009  |   |    | 455,175 |   |   |   | 21,420 |   |   |   | 114,596 |   |   |      | 65,472 |   |      |   | 0       |      |   |   | 31,673 |   |   |   | 53,517 |   |   |   | 741,853 |   |
|                          |       |   |    |    |   |   |   |   |   |   |   |    |   |   |      |   |   |      |   |    |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Jerry Kieliszak               | 2011  |   |    | 242,031 |   |   |   | 0      |   |   |   | 55,750  |   |   |      | 0      |   |      |   | 0       |      |   |   | 86,195 |   |   |   | 10,520 |   |   |   | 394,496 |   |
|  SVP & Chief         | 2010  |   |    | 225,356 |   |   |   | 0      |   |   |   | 43,258  |   |   |      | 0      |   |      |   | 58,693  |      |   |   | 43,761 |   |   |   | 9,734 |   |   |   | 380,802 |   |
|  Financial Officer       | 2009  |   |    | 201,058 |   |   |   | 4,731  |   |   |   | 44,643  |   |   |      | 65,472 |   |      |   | 0       |      |   |   | 32,037 |   |   |   | 8,952 |   |   |   | 356,893 |   |

| 1 Represents base salary earned during the respective fiscal year ended December 31.            |
|-------------------------------------------------------------------------------------------------|
| 2 Bonus for 2009 represents bonuses paid for salary deferral from August 2008 to February 2009. |

----

| 3 Represents the aggregate grant date fair value of time-based vesting RSUs awarded, computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. The grant date fair value of the time-based vesting RSUs equals the number of RSUs awarded times the closing market price of the Company’s Common Stock on the May 10, 2011 grant date, which was $2.23 per share. There can be no assurance that these amounts will be realized by the executive officers because they must be employed by the Company on the vesting dates in order to receive the underlying shares of Common Stock on the vesting dates. Excluded from the above table are compensation costs related to RSUs awarded to the named executive officers in 2011 and 2010 under the Medium-Term Plan (162,500 in 2011 and 162,500 in 2010 to Mr. Wellesley-Wesley, and 161,875 in 2010 to Mr. Kieliszak). These RSUs were cancelled on December 31, 2011 and no value was received by the recipients of these RSUs. Even if they were not cancelled, the possible compensation costs associated with these RSUs as measured under FASB ASC Topic 718 ($362,375 for the 2011 award and $310,375 for the 2010 award for Mr. Wellesley-Wesley, and $309,181 for the 2010 award for Mr. Kieliszak) would not have been included in the table above because the RSUs were solely performance-based awards, vesting of which would have occurred only if certain financial targets were achieved in 2012 or 2013, and the outcome of achieving such targets was not sufficiently probable at the award date or subsequently to result in recording of any current compensation expense. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4 Represents the grant date fair value of stock options awarded to the named executive officers in the years indicated, as the assumptions of which are explained in footnote 8 to the Company’s audited financial statements in our Annual Report for the year ended December 31, 2011. There can be no assurance that these amounts will ever be realized by the executive officers because, for instance, the options could expire unexercised, they could be forfeited following termination of employment, or they could be out-of-the money for their term.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 5 Represents payouts under the Incentive Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 6 Represents the actuarial increase in the present value of the named executive officer’s benefits under the Pension Plan, a tax-qualified, non-contributory defined benefit plan established to provide pension benefits to employees of the Company meeting Pension Plan eligibility criteria. Present values for 2011 are based on certain assumptions which are discussed in the narrative following the 2011 Pension Benefits table below. For additional information on the Pension Plan, refer to the footnotes to the Company’s financial statements for the year ended December 31, 2011.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 7 Represents perquisites, Company matching contributions to the 401(k) Plan and group term life insurance premiums, as itemized in the All Other Compensation table below.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

|                                                                                                                                                                                                                                                                                                                                                                                                                             |   |        |   |   |        |   |   | Company     |   |   |      |   |   |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-----------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                             |   |        |   |   | Tax         |   |   | Match on    |   |   | Life      |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Commutation |   |   | Preparation |   |   | Qualified   |   |   | Insurance |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Allowance1  |   |   | Fees2       |   |   | 401(k)Plan3 |   |   | Premiums4 |   |   | Total  |   |
| Name                                                                                                                                                                                                                                                                                                                                                                                                                             |   | ($)         |   |   | ($)         |   |   | ($)         |   |   | ($)       |   |   | ($)    |   |
| Michael Wellesley-Wesley                                                                                                                                                                                                                                                                                                                                                                                                         |   |        | 18,000 |   |        |   | 14,644 |        |   |   | 9,800     |   |   |   | 720    |   |   |   | 43,164 |   |
| Jerry Kieliszak                                                                                                                                                                                                                                                                                                                                                                                                                  |   |        | 0      |   |        |   | 0      |        |   |   | 9,800     |   |   |   | 720    |   |   |   | 10,520 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| 1 Mr. Wellesley-Wesley receives a commutation allowance of $18,000 per year, payable in bi-weekly installments, to defray his costs of commuting to work, in lieu of a leased automobile.                                                                                                                                                                                                                                        |   |
| 2 The Company reimburses Mr. Wellesley-Wesley for professional tax assistance in preparing his U.S. personal income tax returns, as a provision of his employment agreement, up to $5,000 per year. For 2011, the Compensation Committee of the Board of Directors also approved additional payments of $9,644 to Mr. Wellesley-Wesley to cover his costs in connection with an audit of a prior year’s income tax returns |   |
| 3 Represents the Company matching contributions made for the named executive officers to the Company’s 401(k) Plan. The Company provides a match equal to two-thirds of the first 6% of compensation contributed by an employee up to the IRS maximum permitted employee contribution amount.                                                                                                                              |   |
| 4 Represents Company paid premiums for group term life insurance for the named executive officers. The Company provides group term life insurance for all of its U.S. employees equal to 250% of the insured’s annual salary capped at $250,000 of insurance, except for the named executive officers for whom the insurance provided is $500,000 each.                                                                    |   |

----

|                                                                                                                                                                                                                                |   | Target |   |   | Payout   |   |         |   |   |   |    |   |   |   |    |   | Actual   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|----------|--------|--------------|--------|--------|--------|---------|--------|--------|--------|---------|--------|----------|--------|
|                                                                                                                                                                                                                                |   | As a   |   |   | Range as |   |         | Target |   |   | Maximum |   |   | Actual |    |   | Award as |   |
|                                                                                                                                                                                                                                |   | % of   |   |   | a % of   |   |         | Award  |   |   | Award   |   |   | Award  |    |   | a % of   |   |
| Name                                                                                                                                                                                                                                |   | Salary |   |   | Salary   |   |         | ($)    |   |   | ($)     |   |   | ($)1   |    |   | Salary   |   |
|                                                                                                                                                                                                                                |   |   |   |   |     |   |         |   |   |   |    |   |   |   |    |   |     |   |
| Michael Wellesley-Wesley                                                                                                                                                                                                            |   |   | 70     | %      |     |   | 0% - 105     | %      |   |   | 334,554 |   |   |   | 501,831 |   |     |   | 0 |   |   |   | 0 | % |
| Jerry Kieliszak                                                                                                                                                                                                                     |   |   | 60     | %      |     |   | 0% - 90 | %      |   |   | 146,160 |   |   |   | 219,240 |   |     |   | 0 |   |   |   | 0 | % |
|                                                                                                                                                                                                                                |   |   |   |   |     |   |         |   |   |   |    |   |   |   |    |   |     |   |   |   |   |   |   |   |
| 1 No award was paid to the named executive officers in 2012 for fiscal 2011 because the minimum target achievement percentage of 75% was not attained for either of the two financial performance conditions of the Incentive Plan. |   |

|                     |      |   |                              |   |   | Estimated |   |    |      |   |   |       |   |
|--------------------------|-----------|--------|-----------------------------------|--------|--------|-----------|--------|---------|-----------|--------|--------|------------|--------|
|                     |      |   |                              |   |   | future    |   |    | All other |   |   | Grant      |   |
|                     |      |   |                              |   |   | payouts   |   |    | stock     |   |   | date       |   |
|                     |      |   |                              |   |   | under     |   |    | awards:   |   |   | fair value |   |
|                     |      |   |                              |   |   | equity    |   |    | number    |   |   | of stock   |   |
|                     |      |   |                              |   |   | incentive |   |    | of shares |   |   | units and  |   |
|                     |      |   | Estimated future payouts under    |   |   | plan      |   |    | of stock  |   |   | option     |   |
|                     |      |   | non-equity incentive plan awards1 |   |   | awards2   |   |    | or units3 |   |   | awards4    |   |
|                     | Grant     |   | Threshold                         |   |   | Target    |   |    | Maximum   |   |   | Target     |   |   |   |   |   |   |   |
| Name                     | Date      |   | ($)                               |   |   | ($)       |   |    | ($)       |   |   |       | (#)    |   |   |   | (#) |   |   | ($) |   |
| (a)                      | (b)       |   | (c)                               |   |   | (d)       |   |    | (e)       |   |   | (g)        |   |   | (i) |   |   | (l) |   |
| Michael Wellesley-Wesley | 1/1/2011  |   |                              | 0      |   |      |   | 334,554 |      |   |   | 501,831    |   |   |   |   |   |   |   |   |   |   |   |   |
|                     | 5/10/2011 |   |                              |   |   |      |   |    |      |   |   |       |   |   |   |   |   |   |   | 37,500 |   |   |   | 83,625 |   |
|                     | 5/10/2011 |   |                              |   |   |      |   |    |      |   |   |       |   |   |   | 162,500 |   |   |   |   |   |   |   | 0 | 5  |
| Jerry Kieliszak          | 1/1/2011  |   |                              | 0      |   |      |   | 146,160 |      |   |   | 219,240    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                     | 5/10/2011 |   |                              |   |   |      |   |    |      |   |   |       |   |   |   |   |   |   |   | 25,000 |   |   |   | 55,750 |   |

| 1 Represents the threshold, target and maximum annual awards under the Incentive Plan that could have been earned for 2011 if these levels had been achieved. The targeted performance condition-based awards under our Incentive Plan were 70% of base salary for Mr. Wellesley-Wesley and 60% of base salary for Mr. Kieliszak. See the “Compensation Discussion and Analysis - Annual Performance-Based Cash and/or Equity Awards” section above for the terms and conditions of the Incentive Plan and the Non-Equity Incentive Plan table above for the actual awards earned by the named executive officers and the form and amount of payouts.                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2 Represents the target award of 162,500 RSUs under the Medium-Term Plan to Mr. Wellesley-Wesley. These RSUs were cancelled on December 31, 2011 and no value was received by the recipients of these RSUs. These were solely performance-based awards, vesting of which would have occurred only if certain financial targets were achieved in 2012 or 2013. The outcome of achieving such targets was not sufficiently probable at the award date or subsequently to result in recording of any of the above compensation costs in the Company’s results of operations. These performance-based RSUs would only have vested if one or both performance conditions were to be achieved, these being achievement of a designated level of revenues in 2012 or 2013, achievement of which would have been worth half of the target award, and the other being achievement of a designated level of operating income, before share-based compensation expense, in 2012 or 2013, achievement of which would have been worth half of the target award. |
| 3 Represents the number of time-based vesting RSUs granted. Each RSU, if and when it vests, results in the issuance of one share of Company Common Stock. These RSUs vest in equal amounts in each of May 2012, 2013 and 2014, on the condition that the named executive officer is employed by the Company on the vesting date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

| 4 Represents the grant date fair value of the annual management equity RSU awards shown in column (i) computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures, on the date of grant by multiplying the number of shares of Common Stock underlying the RSU award by the closing market price of a share of the Company’s Common Stock on the grant date, which was $2.23 per share.                                                                                                                                                                                                                                                                                                                                                              |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5 Excluded from grant date fair value is the compensation cost value of $362,375 for the RSU grants shown in column (g), as measured at the award date under FASB ASC Topic 718. These RSUs were cancelled on December 31, 2011 and no value was received by the recipients of these RSUs. None of this compensation cost has been recorded in the Company’s audited financial statements in our Annual report for the year ended December 31, 2011 because the RSUs were solely performance-based awards, vesting of which would have occurred only if certain financial targets were achieved in 2012 or 2013, and the outcome of achieving such targets was not sufficiently probable at the award date or subsequently to result in recording of any current compensation expense. |

----

|                     |   | Option Awards1 |   | Stock Awards2 |          |
|--------------------------|--------|----------------|--------|---------------|---------------|
|                     |   | Number of      |   |          | Number of     |   |   |   |   |   |   | Number of |   |   | Market |   |
|                     |   | Securities     |   |          | Securities    |   |   |   |   |   |   | Shares or |   |   | Value of |   |
|                     |   | Underlying     |   |          | Underlying    |   |   |   |   |   |   | Units of |   |   | Shares or |   |
|                     |   | Unexercised    |   |          | Unexercised   |   |   | Option |   | Option |   | Stock That |   |   | Units of Stock |   |
|                     |   | Options        |   |          | Options       |   |   | Exercise |   | Expiration |   | Have Not |   |   | That Have Not |   |
| Name                     |   | Exercisable    |   |          | Unexercisable |   |   | Price |   | Date |   | Vested |   |   | Vested |   |
|                     |   |           | (#)    |          |          |   | (#) |   |   | ($) |   |   |   |   | (#) |   |   | ($) |   |
| (a)                      |   | (b)            |   |          | (c)           |   |   | (e) |   | (f) |   | (g) |   |   | (h) |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael Wellesley-Wesley |   |           | 1,667  |          |          |   | 0 |   |   |   | 0.855 |   | 7/31/2012 |   |   |   |   |   |   |   |
|                     |   |           | 50,000 |          |          |   | 0 |   |   |   | 0.660 |   | 2/21/2013 |   |   |   |   |   |   |   |
|                     |   |           | 78,334 |          |          |   | 0 |   |   |   | 2.010 |   | 5/18/2014 |   |   |   |   |   |   |   |
|                     |   |           | 50,000 |          |          |   | 0 |   |   |   | 1.020 |   | 6/3/2015 |   |   |   |   |   |   |   |
|                     |   |           | 50,000 |          |          |   | 0 |   |   |   | 2.760 |   | 5/18/2016 |   |   |   |   |   |   |   |
|                     |   |           | 50,000 |          |          |   | 0 |   |   |   | 2.430 |   | 5/16/2017 |   |   |   |   |   |   |   |
|                     |   |           | 75,000 |          |          |   | 0 |   |   |   | 5.480 |   | 5/19/2018 |   |   |   |   |   |   |   |
|                     |   |           | 37,500 |          |          |   | 37,500 |   |   |   | 1.310 |   | 5/13/2019 |   |   |   |   |   |   |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 24,779 |   |   |   | 34,445 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 25,000 |   |   |   | 34,753 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 37,500 |   |   |   | 52,129 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jerry Kieliszak          |   |           | 25,000 |          |          |   | 0 |   |   |   | 1.830 |   | 5/23/2012 |   |   |   |   |   |   |   |   |
|                     |   |           | 16,667 |          |          |   | 0 |   |   |   | 0.810 |   | 12/13/2012 |   |   |   |   |   |   |   |   |
|                     |   |           | 8,334  |          |          |   | 0 |   |   |   | 1.050 |   | 11/7/2013 |   |   |   |   |   |   |   |   |
|                     |   |           | 33,334 |          |          |   | 0 |   |   |   | 2.010 |   | 5/18/2014 |   |   |   |   |   |   |   |   |
|                     |   |           | 25,000 |          |          |   | 0 |   |   |   | 1.020 |   | 6/3/2015 |   |   |   |   |   |   |   |   |
|                     |   |           | 33,334 |          |          |   | 0 |   |   |   | 2.760 |   | 5/18/2016 |   |   |   |   |   |   |   |   |
|                     |   |           | 33,334 |          |          |   | 0 |   |   |   | 2.430 |   | 5/16/2017 |   |   |   |   |   |   |   |   |
|                     |   |           | 50,000 |          |          |   | 0 |   |   |   | 5.480 |   | 5/19/2018 |   |   |   |   |   |   |   |   |
|                     |   |           | 37,500 |          |          |   | 37,500 |   |   |   | 1.310 |   | 5/13/2019 |   |   |   |   |   |   |   |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 9,653 |   |   |   | 13,419 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 16,667 |   |   |   | 23,169 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   | 25,000 |   |   |   | 34,753 |   |
|                     |   |           |   |          |          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

| 1 The date of grant of each of the above options is ten years prior to the above option expiration dates. The unexercisable options above vest over three years at one-third of the total grant each anniversary date from date of grant, except for the May 13, 2009 grant which vests over four years at one-fourth of the total grant on each anniversary date from date of grant.                                                                                                                                                                                                                                                                                                                                                                        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2 Represents time-based vesting RSUs granted on November 9, 2009, May 26, 2010 (2010 annual management equity award) and May 10, 2011 (2011 annual management equity award), respectively, for both of the above named executive officers, valued for the above disclosure purposes at closing market price of $1.39 per share for the Company’s Common Stock at December 30, 2011. The November 9, 2009 RSUs vest in equal amounts each quarter for 12 consecutive quarters commencing in the first quarter of 2010. The May 26, 2010 annual management equity award RSUs vest in equal portions in each of May 2011, 2012 and 2013. The May 10, 2011 annual management equity award RSUs vest in equal portions in each of June 2012, 2013 and 2014. |

----

|                                                                                                                                                                                                                                                                                    |   | Option Awards        |   |   | Stock Awards   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------|----------------|--------|
|                                                                                                                                                                                                                                                                                    |   | Number of shares     |   |   | Value realized |   |   | Number of shares |   |   | Value realized |   |
| Name                                                                                                                                                                                                                                                                                    |   | acquired on exercise |   |   | on exercise1   |   |   | acquired on vesting |   |   | on vesting2 |   |
|                                                                                                                                                                                                                                                                                    |   |                 | (#)    |   |           | ($)    |   |   |   | (#) |   |   | ($) |   |
| (a)                                                                                                                                                                                                                                                                                     |   | (b)                  |   |   | (c)            |   |   | (d) |   |   | (e) |   |
| Michael Wellesley-Wesley                                                                                                                                                                                                                                                                |   |                 | 12,018 |   |           |   | 12,685 |   |   |   | 37,278 |   |   |   | 82,862 |   |
| Jerry Kieliszak                                                                                                                                                                                                                                                                         |   |                 | 0      |   |           |   | 0 |   |   |   | 17,986 |   |   |   | 39,381 |   |
|                                                                                                                                                                                                                                                                                    |   |                 |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| 1 Amount shown represents the difference between the option exercise price and the closing market price of the Company’s Common Stock on the exercise date, multiplied by the number of shares acquired on exercise.                                                         |   |
| 2 Amounts shown in this column equal the number of shares of the Company’s Common Stock acquired on vesting of RSUs multiplied by the closing market price of the Company’s Common Stock on the vesting date. These amounts represent taxable wages to the recipients. |   |

|                                                                                                                                                                                                                                                                                    |                                 |   | Number of Years |   |   | Present Value of |   |    | Payments    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|--------|-----------------|--------|--------|------------------|--------|---------|-------------|--------|
|                                                                                                                                                                                                                                                                                    |                                 |   | of Credited     |   |   | Accumulated      |   |    | During Last |   |
| Name                                                                                                                                                                                                                                                                                    | Plan Name                            |   | Service1        |   |   | Benefit          |   |    | Fiscal Year |   |
|                                                                                                                                                                                                                                                                                    |                                 |   |            | (#)    |   |             | ($)    |    |        | ($)    |   |
| (a)                                                                                                                                                                                                                                                                                     | (b)                                  |   | (c)             |   |   | (d)              |   |    | (e)         |   |
| Michael Wellesley-Wesley                                                                                                                                                                                                                                                                | Chyron Employees’ Pension Plan |   |            | 7.5    |   |             |   | 235,840 |        |   |   | 0 |   |
| Jerry Kieliszak                                                                                                                                                                                                                                                                         | Chyron Employees’ Pension Plan |   |            | 8.5    |   |             |   | 257,138 |        |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                    |                                 |   |            |   |   |             |   |    |        |   |   |   |   |
| 1 As of December 31, 2011, the number of years and months that both named executive officer has worked for the Company, in arriving at these numbers of years of credited service, is as follows: Mr. Wellesley-Wesley, 8 years, 10 months; and, Mr. Kieliszak, 9 years, 9 months. |                                 |

----

----

| ·   | If the Company desires not to renew the Agreement or offers to renew the Agreement on terms less favorable to Mr. Wellesley-Wesley than those in the Agreement or for a period of less than 1 year, then the Company will pay him a transitional payment of his base salary for an additional 6 months, Company health benefits, any accrued but unpaid award under the annual performance-based award plan, and a monthly commutation payment of $1,500 per month for an additional 6 months so that he could assist the Company in an orderly transition to a new CEO. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | If the Company offers to extend the Agreement for a period of not less than 1 year on terms and conditions that are no less favorable than contained in the agreement and Mr. Wellesley-Wesley declines to accept such extension, then there would be no further severance payments or transitional payment due to him at the end of the employment term specified in the Agreement. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | If the Company does not extend the Agreement, then all of his vested options would have an exercise period equal to the remaining term of such options without regard to any shorter exercise period in the stock option plan. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | If he is terminated for cause, then he would receive his base salary to the effective date of his termination, any accrued but unpaid award under the annual Incentive Plan, any accrued but unpaid commutation payment, and any unreimbursed expenses. “Cause” means he is convicted of a felony crime, willfully commits any act or willfully omits to take any action in bad faith and to the material detriment of the Company, commits an act of active and deliberate fraud against the Company, or materially breaches any term of the Agreement and fails to correct the breach within 10 days written notice of its commission. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | If he is physically or mentally incapacitated or disabled or otherwise unable to fulfill his duties for 120 consecutive days, and he is unable to resume his duties after 30 days notice from the Company, then he would receive the pro rata portion of his base salary not previously paid through the date of termination, any accrued but unpaid award under the |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | If he dies, the Company would pay the pro rata portion of his base salary not previously paid through the date of his death, any accrued but unpaid award under the annual Incentive Plan and any unreimbursed expenses. Any amount provided for under any insurance policy or similar instrument will also be paid by the insurer. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | If the Company terminates him for any reason other than described above or as a result of a change-in-control as defined in his change-in-control agreement, or he resigns for good reason (as defined below), then the Company would pay or provide him: (i) his base salary for the longer of the remainder of the employment term following the date of termination or 6 months; (ii) all unvested equity-based awards, other than performance-based equity awards, would immediately vest and options would have an exercise period equal to the remaining term of such options without regard to any shorter exercise period set forth in the relevant stock option plan as a result of termination, and any performance-based equity awards will vest as provided for in the equity award agreement notwithstanding that he is no longer employed by the Company on such date; (iii) an amount, grossed up for federal, state and local taxes, in lieu of participation in the Company’s life, long-term disability and health insurance plans for the remaining term of the agreement; (iv) any accrued but unpaid base salary and award under the annual Incentive Plan; and, (v) any previously incurred but unpaid business expenses and commutation payment, and other amounts due him. These amounts would be paid in accordance with Company policy as if he had not been terminated, except the benefits described in item (iii) of the previous sentence would be paid in a lump sum within 20 business days from the date of termination. “Good reason” means a reduction in his base salary or the cap, if any, on his incentive pay; his assignment to any duties inconsistent in any material respect with his position (including status, offices, titles, and reporting requirements), authority, duties or responsibilities which result in a material diminution in such position, authority, or duties. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ·   | “change–in-control” is defined as: (i) the acquisition, directly or indirectly, by any individual, entity or group, or a Person (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”)), of ownership of 30% or more of either (a) the then outstanding shares of Common Stock of the Company (the “Outstanding Company Common Stock”) or (b) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); (ii) individuals who, as of the date of the change-in-control agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date of the change-in-control agreement whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, as a member of the Incumbent Board, any such individual whose initial assumption of office occurs as result of either an actual or   |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | “cause” is defined as (i) being convicted of a felony crime; (ii) willfully committing any act or willfully omitting to take any action in bad faith and to the material detriment to the Company; (iii) committing an act of active and deliberate fraud against the Company; or (iv) materially breaching any term of the agreement or any written policy of the Company that could expose the Company to significant damages (including, but not limited to breach of the Company’s anti-discrimination or harassment policies) and failing to correct such breach within 10 days after written notice thereof; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | “severance event” is defined as termination of employment of the named executive officer if his termination is related to a change in control and is either without cause or is a resignation for good reason; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | “good reason” is defined as the named executive officer giving notice of his resignation as a result of: (i) a reduction in his base salary or the cap, if any, on his incentive pay; (ii) his assignment to any duties inconsistent in any respect with his position (including status, offices, titles and reporting requirements), authority, duties or responsibilities which result in a diminution in such position, authority, duties or responsibilities, whether immediately prior to or after the occurrence of a severance event; (iii) the taking of any action by the Company which would adversely affect his participation in, or materially reduce his benefits under any plans, including incentive pay plans or programs, offered by the Company prior to the severance event; or (iv) in the event of or after the occurrence of a severance event, requiring him to be based at any office or location other than in New York City or Long Island (or in the case of Mr. Wellesley-Wesley, other than in New York City, Long Island, or London, England) |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |      |    |   |       |   |    |      |   |   |      |   |   | Early    |   |   |   |   |    |   |   |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|---------|--------|------------|--------|---------|-----------|--------|--------|-----------|--------|--------|----------|--------|--------|--------|--------|---------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |      |    |   | Incentive  |   |    |      |   |   |      |   |   | Vesting  |   |   |   |   |    |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |      |    |   | Plan       |   |    |      |   |   |      |   |   | of       |   |   | Tax    |   |    |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Severance |    |   | Award      |   |    | Severance |   |   | Accrued   |   |   | Stock    |   |   | Gross  |   |    | Excise |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Salary1   |    |   | Severance2 |   |    | Benefits3 |   |   | Vacation4 |   |   | Options5 |   |   | Up6    |   |    | Tax7   |   |   | Total  |   |
| Name                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | ($)       |    |   | ($)        |   |    | ($)       |   |   | ($)       |   |   | ($)      |   |   | ($)    |   |    | ($)    |   |   | ($)    |   |
| Michael Wellesley-Wesley                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |      | 482,850 |   |       |   | 337,995 |      |   |   | 27,019    |   |   |     | 18,574 |   |   |   | 124,318 |   |   |   | 20,383 |   |   |   | 123,167 |   |   |   | 1,134,306 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |      |    |   |       |   |    |      |   |   |      |   |   |     |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jerry Kieliszak                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |      | 244,800 |   |       |   | 146,880 |      |   |   | 27,019    |   |   |     | 9,417  |   |   |   | 74,335  |   |   |   | 20,383 |   |   |   | 0 |   |   |   | 522,833 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |      |    |   |       |   |    |      |   |   |      |   |   |     |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 1 Amounts represent base salary in effect at December 31, 2011.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| 2 Assumes for this purpose that the target annual Incentive Plan awards for 2012 at 100% achievement would be the greater amount of 2012 projected awards versus 2011 actual awards. The 2012 projected award is shown above. The 2011 and 2012 annual Incentive Plan’s terms specify that the awards paid under the plans will be in cash to the extent of the required withholding and payroll taxes on the awards, and the balance of the awards will be payable in Common Stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| 3 Amounts represent management estimates based on existing life, long-term disability and health insurance plan premiums. Actual amounts would be costs charged by third party insurers to provide comparable benefits to those provided by the Company for the twelve month period following termination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| 4 Amounts represent dollar value of actual accrued vacation at December 31, 2011.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| 5 The value of the vesting acceleration was calculated as follows: (a) for stock options, multiplying the number of unvested in-the-money option shares as of December 31, 2011 by the spread between the closing price of the Company’s Common Stock as of December 31, 2011, which was $1.39 per share, and the exercise price of such unvested options; and (b) for RSUs, the number of unvested time-based RSUs as of December 31, 2011 times the closing price of the Company’s Common Stock as of December 31, 2011. Each of the above named executive officers held 37,500 unvested stock options at December 31, 2011 that were in-the-money options at an exercise price per share of $1.31 which if exercised at these values would have resulted in a gain on exercise of $3,000 for both named executive officers. Messrs. Wellesley-Wesley and Kieliszak held 87,279 and 51,320 unvested RSUs subject to time-based vesting, respectively. These RSUs would have had a value of $121,318 and $71,335, respectively, as reported in the Outstanding Equity Awards at Fiscal Year-End table above, as of December 31, 2011. |   |
| 6 The tax gross-up is estimated as that required to compensate for an estimated 43% effective tax rate (federal, state, local, social security and Medicare taxes) on the severance benefits amounts.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| 7 The change in control agreements for each of the named executive officers state that the Company will hold each harmless, on an after-tax basis, from any taxes, costs, expenses, penalties, fines, interest or other liabilities (the “409A penalties”) that might result from any non-compliance with Section 409A of the Code in connection with payments made under the agreements. The Company estimates that only $347,088 of payments to Mr. Wellesley-Wesley would be subject to 409A excise tax and interest in a scenario in which the change in control payments made to him were determined to not be in compliance with Section 409A of the Code. We are required to report this information to disclose what the effect would be if 409A were not complied with. However, we believe that the change in control agreements as structured comply with the requirements of 409A and we intend to comply with 409A to the fullest extent possible, and, therefore, we believe the aforementioned 409A penalties would likely not be incurred.                                                                                  |   |

----

|                  |   | Fees Earned or |   |   | Stock   |   |   |   |   |
|-----------------------|--------|----------------|--------|--------|---------|--------|--------|--------|--------|
| Name                  |   | Paid in Cash   |   |   | Awards1 |   |   | Total  |   |
|                  |   | ($)            |   |   | ($)     |   |   | ($)    |   |
| (a)                   |   | (b)            |   |   | (c)     |   |   | (h)    |   |
| Susan Clark-Johnson2  |   |           | 20,000 |   |    |   | 33,242 |   |   |   | 53,242 |   |
| Peter F. Frey3        |   |           | 25,000 |   |    |   | 38,783 |   |   |   | 63,783 |   |
| Christopher R. Kelly4 |   |           | 25,000 |   |    |   | 38,783 |   |   |   | 63,783 |   |
| Roger L. Ogden5       |   |           | 40,000 |   |    |   | 55,404 |   |   |   | 95,404 |   |
| Robert A. Rayne6      |   |           | 20,000 |   |    |   | 33,242 |   |   |   | 53,242 |   |
| Michael C. Wheeler7   |   |           | 20,000 |   |    |   | 33,242 |   |   |   | 53,242 |   |

| 1 Represents the aggregate grant date fair value, of RSUs awarded to the named directors on the grant date of January 3, 2011. Each RSU was settled for one share of the Company’s Common Stock on the vesting date, January 3, 2012. The grant date fair value has been computed in accordance with FASB ASC Topic 718 excluding the effect of estimated forfeitures. The grant date fair value of each RSU equals the number of RSUs awarded times the closing market price of the Company’s Common Stock on the grant date, which was $2.12 per share. The above named directors held the following number of RSUs and stock options, respectively, at December 31, 2011: Susan Clark-Johnson, 15,680 and 0; Peter F. Frey, 18,294 and 30,000; Christopher R. Kelly, 18,294 and 66,670; Roger L. Ogden, 26,134 and 40,000; Robert A. Rayne, 15,680 and 30,000; and Michael C. Wheeler, 15,680 and 65,895. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

| 2 Member of the Audit Committee and Member of the Compensation Committee.                                       |
|-----------------------------------------------------------------------------------------------------------------|
| 3 Chairman of the Audit Committee.                                                                              |
| 4 Member of the Compensation Committee and Chairman of the Corporate Governance and Nominating Committee.       |
| 5 Chairman of the Board of Directors, Member of the Audit Committee and Chairman of the Compensation Committee. |
| 6 Member of the Corporate Governance & Nominating Committee.                                                |
| 7 Member of the Corporate Governance & Nominating Committee.                                                |

----

|                                                                                                                                                                                                                                                     |   |              |      |   |           |   |   | Number of securities  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|----------------|--------|--------|-----------------------|--------|
|                                                                                                                                                                                                                                                     |   | Number of         |      |   | Weighted       |   |   | remaining available   |   |
|                                                                                                                                                                                                                                                     |   | securities to be  |      |   | average        |   |   | for future issuance   |   |
|                                                                                                                                                                                                                                                     |   | issued upon       |      |   | exercise price |   |   | under equity          |   |
|                                                                                                                                                                                                                                                     |   | exercise of       |      |   | of outstanding |   |   | compensation plans    |   |
|                                                                                                                                                                                                                                                     |   | outstanding stock |      |   | stock options, |   |   | (excluding securities |   |
|                                                                                                                                                                                                                                                     |   | options, warrants |      |   | warrants and   |   |   | reflected in          |   |
| Plan Category                                                                                                                                                                                                                                            |   | and rights2       |      |   | rights3        |   |   | column (a))           |   |
|                                                                                                                                                                                                                                                     |   |              | (#)       |   |           | ($)    |   |                  |   | (#) |   |
|                                                                                                                                                                                                                                                     |   | (a)               |      |   | (b)            |   |   | (c)                   |   |
| Equity compensation plans approved by shareholders1                                                                                                                                                                                                      |   |              | 3,753,322 |   |           |   | 2.34   |                  |   |   | 2,175,861 |   |
|                                                                                                                                                                                                                                                     |   |              |      |   |           |   |   |                  |   |   |   |   |
| Equity compensation plans not approved by shareholders                                                                                                                                                                                                   |   |              | 0         |   |           |   | 0      |                  |   |   | 0 |   |
|                                                                                                                                                                                                                                                     |   |              |      |   |           |   |   |                  |   |   |   |   |
| Total                                                                                                                                                                                                                                                    |   |              | 3,753,322 |   |           |   | 2.34   |                  |   |   | 2,175,861 |   |
|                                                                                                                                                                                                                                                     |   |              |      |   |           |   |   |                  |   |   |   |   |
| 1 These plans consist of our 2008 Long-Term Incentive Plan and our 1999 Incentive Compensation Plan. No further awards may be made under the 1999 Incentive Compensation Plan.                                                                      |   |
| 2 Includes 3,224,879 vested but unexercised, and unvested, stock options, and 528,443 unvested RSUs, each of which, if vested, would be settled by the issuance of one share of Common Stock.                                                       |   |
| 3 The weighted average exercise price for all stock options only is $2.34 per share. The exercise price for all RSUs outstanding is zero per share. The weighted average exercise price for all stock options and RSUs combined is $2.01 per share. |   |

----

|   | 1. | Reviewing the financial reports and other financial related information released by the Company to the public, or in certain circumstances, governmental bodies; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Reviewing the Company’s system of internal controls regarding finance, accounting, business conduct and ethics and legal compliance that management and the Board have established; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Reviewing the Company’s accounting and financial reporting processes; |
|--------|----|-----------------------------------------------------------------------------|

|   | 4. | Reviewing and appraising with management the performance of the Company’s independent registered public accountants; and, |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Providing an open avenue of communication between the independent registered public accountants and the Board. |
|--------|----|----------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                   |   | For Year Ended December 31, |               |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------------------|
|                                                                                                                                                                                                   |   | 2011                        | 2010               |   |
| Audit Fees1                                                                                                                                                                                            |   | 235,660                     | 232,355            |   |
| Audit-Related Fees2                                                                                                                                                                                    |   | 54,175                      | 51,730             |   |
| Tax Fees3                                                                                                                                                                                              |   |   53,910          |   36,875 |   |
|                                                                                                                                                                                                   |   | 343,745                     | 320,960            |   |
|                                                                                                                                                                                                   |   |                        |               |   |
| 1 Consists of fees and expenses for audit of the Company’s annual financial statements and SAS 100 review of quarterly financial statements included in our Quarterly Reports on Form 10-Q. |
| 2 Consists primarily of fees and expenses for employee benefit plans audits.                                                                                                                      |
| 3 Consists of fees and expenses for tax compliance, advice and planning.                                                                                                                          |

----

| ·   | Audit services include audit work performed in the preparation of financial statements, as well as work that generally only the independent registered public accounting firm can reasonably be expected to provide, including comfort letters, statutory audits, and attest services and consultation regarding financial accounting and/or reporting standards. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Audit-Related services are for assurance and related services that are traditionally performed by the independent registered public accounting firm, including due diligence related to mergers and acquisitions, employee benefit plan audits, and special procedures required to meet certain regulatory requirements. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Tax services include all services performed by the independent registered public accounting firm’s tax personnel except those services specifically related to the audit of the financial statements, and includes fees in the areas of tax compliance, tax planning, and tax advice. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                      | Shares Beneficially Owned2 |
|-------------------------------------------|----------------------------|
| Name and Address of Beneficial Owner      | Number                     | Percent3 |
|                                      |                       |   |
| Entities affiliated with LMS Capital plc4 | 2,938,678                  | 17.45% |
| and Robert A. Rayne11                     |                       |   |
| 100 George Street                         |                       |   |
| London, W1U 8NU                           |                       |   |
| England, U.K.                             |                       |   |
|                                      |                       |   |
| Christopher R. Kelly5                     | 2,413,258                  | 14.29% |
| 800 Fifth Avenue, Suite 4100              |                       |   |
| Seattle, WA 98104                         |                       |   |
|                                      |                       |   |
| Michael I. Wellesley-Wesley6              | 1,578,784                  | 9.17% |
| c/o Chyron Corporation                    |                       |   |
| 5 Hub Drive                               |                       |   |
| Melville, New York 11747                  |                       |   |

|                                         | Shares Beneficially Owned2 |
|----------------------------------------------|----------------------------|
| Name of Beneficial Owner                     | Number                     | Percent3 |
|                                         |                       |   |
| Robert A. Rayne4,11                          | 2,938,678                  | 17.45% |
|                                         |                       |   |
| Christopher R. Kelly5                        | 2,413,258                  | 14.29% |
|                                         |                       |   |
| Michael I. Wellesley-Wesley6                 | 1,578,784                  | 9.17% |
|                                         |                       |   |
| Jerry Kieliszak7                             | 299,592                    | 1.75% |
|                                         |                       |   |
| Peter F. Frey8                               | 190,219                    | 1.13% |
|                                         |                       |   |
| Roger L. Ogden9                              | 134,410                    | * |
|                                         |                       |   |
| Michael C. Wheeler10                         | 105,181                    | * |
|                                         |                       |   |
| Susan Clark-Johnson12                        | 33,286                     | * |
|                                         |                       |   |
| All current directors and executive officers |                       |   |
| as a group (8 persons)                       | 7,693,408                  | 43.44% |

----

| 1  These tables are based upon information supplied by Schedules 13D and 13G, if any, filed with the Securities and Exchange Commission (the “SEC”) and/or the beneficial owner.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 2  Beneficial ownership is determined in accordance with the rules of the SEC. In computing the number of shares beneficially owned by a person and the percentage of ownership of that person, shares of Common Stock subject to equity awards exercisable within 60 days of March 1, 2012 are deemed outstanding. To the Company’s knowledge, except as set forth in the footnotes to this table and subject to applicable community property laws, each person named in the table has sole voting and investment power with respect to the shares set forth opposite such person’s name.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 3  In calculating the percent of the outstanding shares of Common Stock, 16,815,322 shares of Common Stock which were outstanding on March 1, 2012, as well as, where applicable, all shares issuable on the exercise of equity awards within 60 days of March 1, 2012 held by the particular beneficial owner that are included in the column to the left of this column, are deemed to be outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 4  Includes 1,238,464 shares beneficially owned by LMS Tiger Investments Limited (“Tiger”), 134,680 shares beneficially owned by Lion Investments Ltd. (“Lion”), and 1,410,720 shares beneficially owned by Westpool Investment Trust plc (“Westpool”). Tiger, Lion and Westpool are investment companies wholly-owned by LMS Capital plc (“LMS”). By virtue of this relationship, LMS is an indirect beneficial owner of the securities owned by Tiger, Lion and Westpool. Mr. Robert A. Rayne, a director of the Company, is a non-executive director and a principal shareholder of LMS and shares voting and investment control over these shares with two other directors of LMS. Mr. Rayne disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein. The amount shown also includes 124,814 shares owned directly by Mr. Rayne and stock options owned by Mr. Rayne for 30,000 shares that may be acquired upon the exercise of options exercisable within 60 days of March 1, 2012. The total of 2,938,678 is reported in the above table as beneficially owned by both LMS and Mr. Rayne. See note 11 below. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 5  Includes 2,139,572 shares owned by Christopher R. Kelly and 207,016 shares beneficially owned by Mr. Kelly as follows: Kelly Children’s Trust, 24,315; Oona Andrea Kelly (daughter), 73,240; Isabella Van Cortland Kelly (daughter), 64,840; Marco Kelly (son), 24,621; Christopher R. Kelly Family Foundation, 10,000; and, Kelly Foundation of Washington, 10,000. The total shown in the above table also includes 66,670 shares that may be acquired by Mr. Kelly upon the exercise of options exercisable within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 6  Includes 892,715 shares directly owned by Sun Life Pension Management and Paris Investments Limited for which Mr. Wellesley-Wesley is deemed to be the beneficial owner, 78,038 shares directly owned by Liberty SIPP Limited and Michael Wellesley-Wesley, 101,936 shares directly owned by him, 43,733 shares owned in his account in the Company’s 401(k) Plan, and 63,666 shares directly owned by his spouse. Also includes 392,501 shares that may be acquired upon the exercise of options exercisable and 6,195 shares that may be acquired upon the vesting of RSUs within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 7  Includes 27,841 shares owned directly and 6,834 shares owned in his account in the Company’s 401(k) Plan. Also includes 262,503 shares that may be acquired upon the exercise of options exercisable and 2,414 shares that may be acquired upon the vesting of RSUs within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 8  Includes 160,219 shares owned directly and 30,000 shares that may be acquired upon the exercise of options exercisable within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 9  Includes 94,410 shares owned directly and 40,000 shares that may be acquired upon the exercise of options exercisable within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10  Includes 39,286 shares owned directly and 65,895 shares that may be acquired upon the exercise of options exercisable within 60 days of March 1, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 11  Mr. Rayne owns 124,814 shares directly and stock options for 30,000 shares that may be acquired upon the exercise of options exercisable within 60 days of March 1, 2012. Mr. Rayne is also affiliated with LMS which beneficially owns 2,783,864 shares. See note (4) above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 12  Includes 33,286 shares owned directly.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

----

----

|   | By Order of the Board of Directors,             |
|--------|-------------------------------------------------|
|   |                                            |
|   | /s/ Michael Wellesley-Wesley                    |
|   | Michael Wellesley-Wesley                        |
|   | President, Chief Executive Officer and Director |
|   |                                            |
|   | Melville, New York                              |
|   | April 6, 2012                                   |

----

----

----