NETWORK-1 TECHNOLOGIES, INC. — Director's Dealing 2010

Dec 20, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETWORK 1 SECURITY SOLUTIONS INC (NSSI-OTC)
CIK: 0001065078
Period of Report: 2010-12-16

Reporting Person: HOROWITZ COREY M (Director, CEO and Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-16	Common Stock, $.01 par value per share	S	20300	$1.56	Disposed	1252785	Direct
2010-12-16	Common Stock, $.01 par value per share	S	42600	$1.60	Disposed	1210185	Direct
2010-12-16	Common Stock, $.01 par value per share	S	12100	$1.56	Disposed	1198085	Direct
2010-12-20	Common Stock, $.01 par value per share	G	45000	—	Disposed	1153085	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.01 par value per share	2042800	Indirect

Footnotes

F1: Represents the sale of a portion of the shares underlying an incentive stock option exercised by Corey M. Horowitz on December 10, 2010.

F2: The shares are owned directly by CMH Capital Management Corp. and indirectly by Corey M. Horowitz. CMH Capital Management Corp. is an entity in which Corey Horowitz is the sole officer, director and shareholder.

F3: Represents a gift of securities to two trusts and a custodian account, all for the benefit of the children of the reporting person.