On July 26, 2018, the independent members of the Board of Directors of ITUS Corporation appointed Mr. Lewis H. Titterton, Jr., an existing member of the Board of Directors, as the lead independent director of the Company. As the Lead Independent Director, Mr. Titterton’s responsibilities will include presiding at meetings of the Board at which the Chairman of the Board is not present, including executive sessions of the independent directors, and serving as a liaison between the Chairman of the Board and the independent directors. Mr. Titterton will continue to serve as the chairman of the Audit Committee and a member of the Compensation Committee of the Company.