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Filing Details

Accession Number:: 0000919574-10-007053
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-16 17:28:07
Reporting Period:: 2010-12-14

Filing Date:: 2010-12-16
Accepted Time:: 2010-12-16 17:28:07
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1065078	Network 1 Security Solutions Inc	NSSI	Services-Prepackaged Software (7372)	113027591

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1176208	G A Jonathan Auerbach	101 Park Avenue 48Th Floor New York NY 10178	No	No	Yes	No
1353316	Hound Partners, Llc	101 Park Avenue 48Th Floor New York NY 10178	No	No	Yes	No
1375882	Hound Performance, Llc	101 Park Avenue 48Th Floor New York NY 10178	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock $.01 Par Value Per Share	Disposition	2010-12-14	40	$1.70	659,781	No	4	S	Indirect	By Hound Partners, LP
Common Stock $.01 Par Value Per Share	Disposition	2010-12-14	48	$1.70	982,371	No	4	S	Indirect	By Hound Partners Offshore Fund, LP
Common Stock $.01 Par Value Per Share	Disposition	2010-12-14	12	$1.70	175,331	No	4	S	Indirect	By Hound Partners, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Hound Partners, LP
No	4	S	Indirect	By Hound Partners Offshore Fund, LP
No	4	S	Indirect	By Hound Partners, LLC

Footnotes

The securities may be deemed to be beneficially owned by (a) Hound Performance, LLC, the general partner of Hound Partners, LP; (b) Hound Partners, LLC, the investment manager of Hound Partners, LP and (c) Jonathan Auerbach, the managing member of Hound Performance, LLC and Hound Partners, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his or its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
The securities may be deemed to be beneficially owned by (a) Hound Performance, LLC, the general partner of Hound Partners Offshore Fund, LP; (b) Hound Partners, LLC, the investment manager of Hound Partners Offshore Fund, LP and (c) Jonathan Auerbach, the managing member of Hound Performance, LLC and Hound Partners, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his or its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
The securities may be deemed to be beneficially owned by (a) Hound Partners, LLC; (b) a separately managed account managed by Hound Partners, LLC and (c) Jonathan Auerbach, the managing member of Hound Partners, LLC. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his or its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.