Robert M. Budin Retires from Research Frontiers Board Of Directors

Budin is retiring from its Board of Directors effective as of December 31, 2009.
 
Mr. Budin noted that "It has been a privilege to be part of Research Frontiers' development as the SPD light-control industry was born and has come of age. I have served on the Research Frontiers Board of Directors for twenty-two years and enjoyed participating in the birth of this industry which has so many benefits in terms of energy-savings, aesthetics, comfort and safety. Now that the technology is in production, the pace of its growth is accelerating, and new Board members have joined to help the Company during its next phase of development. I leave the Company with strong leadership and good business partners to help it achieve its great potential as a world-transforming technology."
 
Robert L. Saxe, Chairman of Research Frontiers' Board of Directors and founder of the Company, noted that "Bob Budin became involved with Research Frontiers right before its public offering and led a group of investors which enabled Research Frontiers to become a public company and to develop SPD light-control technology into a budding industry. Now a number of the world's largest glass and chemical companies have become licensed to use Research Frontiers SPD-Smart light control technology, and are building businesses around this important technology. Bob Budin has helped me guide our Company through its early formative years, and has contributed to our success. We greatly appreciate his many years of service to our Company."
 
Mr. Budin, age 77, has been a director of the Company since 1987. Mr. Budin was a Senior Vice President of Harold C. Brown & Co., Inc. until his retirement in 1990. Mr. Budin was a stockbroker and had been employed at Harold C. Brown & Co., Inc. since 1963. Mr. Budin served on the Company's Nominating and Corporate Governance, Compensation, and Audit Committees.