People: Wave Systems Corp (WAVX.O)

Dr. John E. Bagalay Jr., Ph.D. is Independent Chairman of the Board of Wave Systems Corp., since March 2003. He is member of the Board of Directors since 1993. Chairman of the Board of Directors of the Company since March 2003. He is also Executive-in-Residence, EuroUS Ventures LLP, a venture capital company, since November 2005; Director of Special Projects in the Life Sciences at the Boston University Technology Commercialization Institute from November 2003 to November 2005; Senior Advisor to the Chancellor of Boston University from January 1998 to November 2003; Managing Director of BU Ventures, a university venture capital company, from September 1989 to January 1998. Mr. Bagalay has served as a member of the Board of Directors for over sixteen years. Also, as a result of his service as a director of Integrated Freight Corp. (a public company), including membership on its audit committee, he is in a position to share with the Board of Directors his experience with governance issues facing public companies.