<SEC-DOCUMENT>0001019056-12-000741.txt : 20120601
<SEC-HEADER>0001019056-12-000741.hdr.sgml : 20120601
<ACCEPTANCE-DATETIME>20120601165905
ACCESSION NUMBER:		0001019056-12-000741
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120601
FILED AS OF DATE:		20120601
DATE AS OF CHANGE:		20120601
EFFECTIVENESS DATE:		20120601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAXOR CORP
		CENTRAL INDEX KEY:			0000027367
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				132682108
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22684
		FILM NUMBER:		12884025

	BUSINESS ADDRESS:	
		STREET 1:		350 FIFTH AVENUE
		STREET 2:		SUITE 7120
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10118
		BUSINESS PHONE:		2122440555

	MAIL ADDRESS:	
		STREET 1:		350 5TH AVENUE
		STREET 2:		SUITE 7120
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10118

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDANT CORP
		DATE OF NAME CHANGE:	19730823
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>daxor_def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0"><HR ALIGN="LEFT" NOSHADE SIZE="6" STYLE="color: black; width: 100%"></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 14pt Times New Roman, Times, Serif"><B>UNITED STATES</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 14pt Times New Roman, Times, Serif"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 12pt Times New Roman, Times, Serif"><B>Washington, D.C. 20549</B></P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"><BR>
</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 18pt Times New Roman, Times, Serif"><B>SCHEDULE 14A</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>(Rule 14a-101)</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 12pt Times New Roman, Times, Serif"><B>Information Required
in Proxy Statement</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 12pt Times New Roman, Times, Serif"><B>Schedule 14A Information</B></P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"><BR>
</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Proxy Statement Pursuant
to Section 14(a) of the Securities</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Exchange Act of 1934</P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"><BR>
</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant&#160;&#160;&#160;&#160;&#160;</FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by a Party other than the Registrant&#160;&#160;&#160;&#160;&#160;</FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="text-indent: 0pt; margin: 0pt 0"><BR>
</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Check the appropriate box:</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt times new roman; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%; font-family: wingdings; text-indent: 0pt">o</TD>
    <TD STYLE="text-align: left; width: 95%; font-family: Times New Roman, Times, Serif; text-indent: 0pt">Preliminary Proxy Statement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-family: wingdings; text-indent: 0pt">o</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif; font-weight: bold; text-indent: 0pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-family: wingdings; text-indent: 0pt">x</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif; text-indent: 0pt">Definitive Proxy Statement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-family: wingdings; text-indent: 0pt">o</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif; text-indent: 0pt">Definitive Additional Materials</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-family: wingdings; text-indent: 0pt">o</TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif; text-indent: 0pt">Soliciting Material Pursuant to &#167;240.14a-12</TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; font-size: 10pt; font-family: times new roman">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 2px solid; width: 100%; font-size: 24pt; font-weight: bold; text-align: center; text-indent: 0pt">DAXOR CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; text-indent: 0pt">(Name of Registrant as Specified In Its Charter)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 2px solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; text-indent: 0pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</TD></TR>
</TABLE>
<P STYLE="text-indent: 0pt; margin: 0pt 0"><BR>
</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Payment of Filing Fee (Check
the appropriate box):</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; font-size: 10pt; font-family: times new roman">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%; font-family: wingdings; text-indent: 0pt">x</TD>
    <TD STYLE="text-align: left; width: 95%; text-indent: 0pt">No fee required.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-family: wingdings; text-indent: 0pt">o</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-align: left; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; font-size: 10pt; font-family: times new roman">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%; text-indent: 0pt">1)</TD>
    <TD STYLE="text-align: left; width: 90%; text-indent: 0pt">Title of each class of securities to which transaction applies:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">2)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Aggregate number of securities to which transaction applies:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">3)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">4)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Proposed maximum aggregate value of transaction:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">5)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Total fee paid:</TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;Fee
paid previously with preliminary materials.</FONT></P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;Check
box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of
its filing.</FONT></P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0pt 0">&#160;</P>

<P STYLE="text-align: left; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; font-size: 10pt; font-family: times new roman">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%; text-indent: 0pt">1)</TD>
    <TD STYLE="text-align: left; width: 90%; text-indent: 0pt">Amount Previously Paid:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">2)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Form, Schedule or Registration Statement No.:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">3)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Filing Party:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">4)</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">Date Filed:</TD></TR>
</TABLE>

<P STYLE="text-align: left; margin: 0pt 0; font: 8pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: center; margin: 0pt 0"><HR ALIGN="LEFT" NOSHADE SIZE="6" STYLE="color: black; width: 100%"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAXOR CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>350 FIFTH AVENUE, SUITE 7120</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEW YORK, NY 10118</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO BE HELD JUNE 27, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOTICE IS HEREBY GIVEN that the Annual Meeting
of Shareholders of DAXOR CORPORATION (the &ldquo;Company&rdquo;) will be held at the principal office of the Company, 350 Fifth
Avenue (Empire State Building), Suite 7120, New York City, on Wednesday, June 27, 2012 at 10:00 a.m., Eastern Standard Time, for
the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 3%">1.</TD>
    <TD STYLE="width: 88%">To elect a board of six directors, each to serve for a term of one year or until his successor shall have been duly elected and qualified.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD>Ratification of Independent Auditors: Rotenberg Meril Solomon Bertiger &amp; Guttilla, PC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>3.</TD>
    <TD>Proposal to approve the current compensation levels of the Company&rsquo;s named executives.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%">By Order of the Board of Directors,</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Diane M. Meegan</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>Corporate Secretary</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IF YOU DO NOT EXPECT TO BE PRESENT AT THE MEETING AND WISH
YOUR SHARES TO BE VOTED, PLEASE SIGN, DATE AND MAIL THE ACCOMPANYING FORM OF PROXY AS PROMPTLY AS POSSIBLE IN THE ENCLOSED ENVELOPE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 81%; font-weight: bold; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: center">PAGE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A001">ABOUT THE MEETING</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A002">What is the purpose of the annual meeting?</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">3-4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A003">Who is entitled to vote?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A004">What constitutes a quorum?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A005">How do I vote?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A006">Can I change my vote after I submit my proxy card?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A007">What are the Board&rsquo;s recommendations?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A008">What is the Company&rsquo;s policy with respect to Board member attendance at the Annual meeting of stockholders?</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A009">STOCK OWNERSHIP</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A010">How much Daxor stock does the Company directors, director nominees and named executive officers own?</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">4-5</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A011">Section 16(a) Beneficial Ownership Reporting Compliance</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A012">ITEM 1- ELECTION OF THE BOARD OF DIRECTORS</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">6-8</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A013">NAMED EXECUTIVE OFFICERS</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A014">Company Officers</A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A015">IDANT LABORATORY&nbsp; DIRECTORS</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">9-10</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A016">STOCK OPTIONS</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">10</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A017">THE AUDIT COMMITTEE</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A017">Audit Committee Charter</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">10</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A018">Audit Committee Requirements</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">10</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A019">Audit Committee Responsibilities</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A020">Investment Risk Management</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A021">Processes</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A022">Additional Authority</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A023">Meetings</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">11</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A024">Reporting Requirements</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">12</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A025">Report of the Audit Committee</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">12</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A026">EXECUTIVE COMPENSATION</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A026">Report of the Compensation Committee</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">13</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A027">Compensation Discussion and Analysis</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">13</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A028">Executive Compensation Table</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">14</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><A HREF="#A029">Stock Option Grants</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">15</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A030">DIRECTORS COMPENSATION</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">15-16</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A031">FEES PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">16</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold"><A HREF="#A032">STOCK OPTION PLAN</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">16</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt"><A HREF="#A033">ITEM 2- RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt"><A HREF="#A034">ITEM 3 &ndash; PROPOSAL TO APPROVE THE CURRENT LEVELS OF COMPENSATION FOR THE COMPANY&rsquo;S NAMED EXECUTIVES</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold; padding-left: 10pt; text-indent: -10pt"><A HREF="#A035">OTHER MATTERS &amp; ADDITIONAL INFORMATION</A></TD>
    <TD STYLE="font-weight: bold; text-align: center">17-18</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAXOR CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>350 Fifth Avenue, Suite 7120</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10118</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The accompanying proxy is solicited by and
on behalf of the Board of Directors of Daxor Corporation, a New York Corporation (the &ldquo;Company&rdquo;), for use at the Annual
Meeting of Shareholders to be held at the principal office of the Company, 350 Fifth Avenue, Suite 7120, New York City, on Wednesday,
June 27, 2012 at 10:00 a.m., Eastern Standard Time (the &ldquo;Meeting&rdquo;), or any adjournment thereof. Shareholders of record
at the close of business on April 30, 2012 will be entitled to vote at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A001"></A><B>ABOUT THE MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><A NAME="A002"></A><I>What is the purpose of the annual meeting?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the Company&rsquo;s annual meeting, stockholders
will act upon the matters outlined in the accompanying notice of meeting, including the election of directors. In addition, the
Company&rsquo;s management will report on the performance of the Company during 2011 and respond to questions from the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><A NAME="A003"></A><I>Who is entitled to vote?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only stockholders of record at the close
of business on the record date, April 30, 2012 are entitled to receive notice of the annual meeting and to vote the shares of common
stock that they held on that date at the meeting, or at any time and date to which the annual meeting may be properly adjourned
or postponed. Each outstanding share entitles its holder to cast one vote on each matter to be voted upon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A004"></A><B><I>What constitutes a quorum?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The presence at the meeting, in person or
by proxy, of the holders of a majority of the shares of common stock outstanding on the record date will constitute a quorum, permitting
the meeting to conduct its business. As of the record date April 30, 2012, 4,195,702 shares of common stock of the Company were
outstanding. Proxies received but marked as abstentions and broker non-votes will be included in the calculation of the number
of shares considered to be present at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A005"></A><B><I>How do I vote?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will solicit proxies by mail.
Arrangements will be made with brokerage houses and other custodians, nominees, and fiduciaries to forward solicitation material
to the beneficial owners of the shares held of record by such persons, and the Company will reimburse them for the reasonable out-of-pocket
expenses incurred by them in doing so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A006"></A><B><I>Can I change my vote after I submit my proxy card?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares represented by the accompanying
proxy will be voted as directed with respect to the election of directors or, if no direction is indicated, will be voted in favor
of election as directors of the nominees listed below. Each proxy executed and returned by a shareholder may be revoked at any
time hereafter by giving written notice of such revocation to the Secretary of the Company, except as to any matter or matters
upon which, prior to such revocation, a vote shall have been cast pursuant to the authority conferred by such proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A007"></A><B><I>What are the Board&rsquo;s recommendations?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless you give other instructions on your
proxy card, the persons named as proxy holders on the proxy card will vote in accordance with the recommendation of the Board of
Directors. The Board&rsquo;s recommendation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">is set forth together with the description of each item in this
proxy statement. In summary, the Board recommends a vote for election of the nominated slate of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Annual Report on Form10-K for the year
ended December 31, 2011 is posted on the Company website at <U>www.Daxor.com</U> and is available by request from any shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board of Directors of the Company, on
the recommendation of its audit committee consisting of a majority of independent directors, has selected the firm of Rotenberg
Meril Solomon Bertiger &amp; Guttilla, P.C. Certified Public Accountants, as the principal accountants for the current fiscal year.
They have served in such capacity since 2005. The audit committee continues to recommend a vote for Rotenberg Meril Solomon Bertiger
&amp; Guttilla, P.C. to serve as Daxor&rsquo;s independent auditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A008"></A><B><I>What is the Company&rsquo;s policy with respect to Board
Member attendance at the Annual Meeting of stockholders?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Board members are encouraged to attend the Company&rsquo;s annual
meetings of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A009"></A><B>STOCK OWNERSHIP OF MANAGEMENT AND CERTAIN
BENEFICIAL HOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A010"></A><B><I>How much stock does the Company&rsquo;s directors, director
nominees and named executive officers own?</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 30, 2012, the Company had issued
and outstanding 4,195,702 shares of common stock, par value $.01 per share (&ldquo;Common Stock&rdquo;), each of which entitled
the holder to one vote. Voting is not cumulative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth certain information
as of the Record Date, concerning the ownership of the Common Stock by (a) each person who, to the Company&rsquo;s knowledge, beneficially
owned on that date more than 5% of the outstanding Common Stock, (b) each of the Company&rsquo;s directors and the Named Executive
Officers (as defined below) and (c) all current directors, director nominees and executive officers of the Company as a group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 20pt; text-indent: -10pt">Name of Beneficial Owner (a) (b)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid">Number of Shares Beneficially Owned(b)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Percent of Common Stock(b)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="width: 54%; text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Joseph Feldschuh, Chairman, CEO, President, And Director(c)</TD><TD STYLE="width: 3%; color: red; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 18%; border-bottom: Black 1pt solid; color: red; text-align: right"><FONT STYLE="color: Black">3,107,854</FONT></TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: red; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; color: red; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 18%; border-bottom: Black 1pt solid; color: red; text-align: right"><FONT STYLE="color: Black">73.32</FONT></TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: red; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Robert Willens, Director(d)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,164</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">*&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Martin S. Wolpoff, Director(e)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,000</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">*&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">James A. Lombard, Director(f)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,500</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">*&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Bernhard Saxe, Esq., Director(g)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,000</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">*&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Mario Biaggi, Jr., Esq., Director(g)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,000</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">*&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid; text-indent: -10pt; padding-left: 20pt">Philip N. Hudson(h)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">147,200</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="color: red; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: red; text-align: right"><FONT STYLE="color: Black">3.47</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: red; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 20pt">All directors, director nominees and officers as a Group (7 persons) (i)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-left: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right">3,284,718</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77.50</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Philip Hudson was re-elected to the Board of Directors at the
Company&rsquo;s annual meeting on June 23, 2010. He is resigning from the Board in order to be able to devote more time to personal
matters. He is presently serving as an unpaid consultant to the Company and may run for re-election to the Board of Directors at
a future date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; font-family: Symbol; text-align: right; vertical-align: top">*</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%; text-align: left">Indicates less than 1%.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(a)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Unless otherwise indicated, the address of each person listed is c/o Daxor Corporation, 350 Fifth Avenue, Suite 7120, New York, New York 10118.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and generally includes voting or investment power with respect to securities. In accordance with SEC rules, shares of Common Stock issuable upon the exercise of options or warrants which are currently exercisable or which become exercisable within 60 days following the Record Date are deemed to be beneficially owned by, and outstanding with respect to, the holder of such warrant. Except as indicated by footnote, and subject to community property laws where applicable, to the knowledge of the Company, each person listed is believed to have sole voting and investment power with respect to all shares of Common Stock beneficially owned by such person.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(c)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Includes 3,082,854 shares of Common Stock and 25,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; text-align: right; vertical-align: top">(d)</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 84%; text-align: left">Includes 14,164 shares of Common Stock and 6,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(e)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Includes 4,000 shares of Common Stock and 1,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(f)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Includes 1,500 shares of Common Stock and 1,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(g)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consists of 1,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(h)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Includes 146,200 shares of Common Stock and 1,000 shares of Common Stock issuable upon the exercise of options issued under the Company&rsquo;s 2004 Stock Option Plan (the &ldquo;2004 Option Plan&rdquo;).</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; vertical-align: top">(i)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">See Footnotes (c) through (h).</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Directors, including the President, have options totaling 36,000
shares of Daxor stock exercisable at prices ranging from $11.39 to $19.11 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Number of Options</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; text-indent: -10pt">Name</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Granted</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="width: 81%; text-align: left; padding-left: 10pt; text-indent: -10pt">Joseph Feldschuh, M.D</TD><TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">25,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Robert Willens</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Bernhard Saxe, Esq.&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Mario Biaggi Jr., Esq.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Martin Wolpoff</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">James Lombard</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Philip Hudson</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><A NAME="A011"></A>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B>
Based upon a review of the filings with the Securities and Exchange Commission, the Company believes that all of the Company&rsquo;s
directors and executive officers complied during 2011 with the reporting requirements of Section 16(a) of the Securities Act of
1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A012"></A><B>Item I. Election of the Board of Directors </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board of Directors has an Audit Committee.
The Board does not have a standing nominating committee or a charter with respect to the process for nominating directors for election
to the Company&rsquo;s Board of Directors. The Company qualifies as a &ldquo;controlled company&rdquo; under NYSE Amex rules, as
Joseph Feldschuh, M.D. controls more than 50% of the Company&rsquo;s voting power, as evidenced by the Company&rsquo;s ownership
records. As a result, The NYSE Amex continued listing standards do not require the Company to have a nominating committee, compensation
and stock option committee, or a written charter. Shareholders and members of the Company&rsquo;s Board submit nominees for election
to the Company&rsquo;s Board of Directors to Dr. Feldschuh for his consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shareholders are being asked to elect an
entire board of six directors to serve on the Board of Directors of Daxor Corporation to hold office until the next annual meeting
or until their successors shall have been duly elected and shall have qualified. The proxies will vote all proxies received &ldquo;FOR&rdquo;
the election as directors of the nominees listed below if no direction to the contrary is given. In the event that any nominee
is unable to serve, the proxy solicited herewith may be voted, at the discretion of the management, for the election of another
person in his stead. The Board of Directors knows of no reason to anticipate that this will occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the name, age, current and
past five years business experience, directorship, and positions held with the Company by each person standing for re-election
as director.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 40%">Principal Occupation and</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 22%; text-align: center">Director Continuously</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">Name and Age</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Position with the Company</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Since</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD>Joseph Feldschuh, M.D., 77</TD>
    <TD>&nbsp;</TD>
    <TD>Chairman of the Board of Directors and President of the Company (1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1974</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>James Lombard, 78</TD>
    <TD>&nbsp;</TD>
    <TD>Director of Administrative Services Division, New York City Council (Retired), Director (2)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1989</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD>Martin S. Wolpoff, 69</TD>
    <TD>&nbsp;</TD>
    <TD>Educational Consultant, Director, Administration Community School District (Retired), Director (3)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1989</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Robert Willens, 65</TD>
    <TD>&nbsp;</TD>
    <TD>President &amp; CEO, Robert Willens LLC(4)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2002</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD>Bernhard Saxe, Esq., 72</TD>
    <TD>&nbsp;</TD>
    <TD>Partner, Foley &amp; Lardner, LLP (retired 2/04) Registered Patent Attorney(5)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Mario Biaggi, Jr., Esq., 54</TD>
    <TD>&nbsp;</TD>
    <TD>Partner, Biaggi &amp; Biaggi Graduate of Columbia College Graduate of Columbia Law School Former judicial delegate in Bronx County(6)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">(1)</TD>
    <TD STYLE="width: 95%"><B>Joseph Feldschuh, M.D.</B> has been President of Daxor since 1974. He is on the staff of Montefiore Medical Center. From 1966 to 1983, Dr. Feldschuh was Director of the Cardiac Metabolic Laboratory at Metropolitan Hospital. He has been a Clinical Associate Professor in both medicine and pathology at New York Medical College and an Assistant Clinical Professor at Cornell Medical School. He performed the basic research at the College of Physicians and Surgeons (Columbia University) on the measurement and prediction of normal human blood volume. He is the co-inventor of the BVA-100 Blood Volume Analyzer and the inventor of the quantitative injection kit for the BVA-100. Originally trained in Endocrinology, he is Board Certified in Cardiology and Internal Medicine. Dr. Feldschuh is the Chief Scientist for the Company. He has been personally involved in measuring blood volume on more than 4,000 patients during his medical career. In addition to his duties as Chief Scientist of Daxor, Dr. Feldschuh is also responsible for managing the Company&rsquo;s investment portfolio.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(2)*</TD>
    <TD><B>James A. Lombard</B> holds an undergraduate degree in Business Administration (BBA) from Iona College and a Masters Degree (MBA) in Marketing, Banking, and Finance from New York University Graduate School of Business Administration. Mr. Lombard has retired as Director, Administrative Services Division of the City Council of New York and actively participates in civic and community affairs. Prior to joining the City Council, he worked in the banking industry and held various administrative positions with Citicorp and other major banks.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(3)*</TD>
    <TD><B>Martin S. Wolpoff</B> holds B.A., M.A. and M.S. degrees from the City University of New York.&nbsp; He has been active in community affairs since the 1970's.&nbsp; He has served on his local community board for three decades.&nbsp; He served as Chair of the Board for three years and had been Chair of the Health, Hospitals and Social Services; Education; and Libraries Committees.&nbsp; He was elected to his community school board three times, serving as a board member for nine years and as it's President for three.&nbsp; Mr. Wolpoff sat as a member of a Community Development Corporation board for almost 10 years and was a former member of a Health Systems Agency Board, as well as having been a member and Vice-Chair of the Community Advisory Board for a New York City hospital.&nbsp; He was the non-medical member of the Institutional Review Board of a local hospital.&nbsp; He also served as a member of the board of a volunteer ambulance corps.&nbsp; Mr. Wolpoff is retired from the New York City public school system, having served from 1965 to 2002 as an educator, supervisor and administrator.&nbsp; He is currently an educational consultant and has served as an adjunct university professor.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(4)*</TD>
    <TD><B>Robert Willens</B> started an independent consulting firm for investors in early 2008 called Robert Willens LLC. Prior to that he was a Managing Director in the Capital Markets Department at Lehman Brothers, Inc., in New York where he specialized in tax and accounting issues and in this capacity advised most areas of the firm regarding the optimal structures for corporate capital transactions. He has been instrumental in developing certain financial &ldquo;products&rdquo; with a view towards insuring that these products will provide clients with the desired tax and accounting results. Prior to joining Lehman Brothers in 1987, Mr. Willens was a tax partner in the New York office of what was then known as Peat Marwick. Mr. Willens is a prolific author and has written <U>Taxation of Corporate Capital Transactions</U>, as well as over 200 articles for various professional journals. Each year for the past 10 years, Mr. Willens has been named to <U>Institutional Investor&rsquo;s </U>&ldquo;All-American Research&rdquo; Team. Mr. Willens has been selected, on four different occasions, as one of the 100 &ldquo;Most Influential Accountants&rdquo; in the United States by <U>Accounting Today </U>. Mr. Willens serves as Adjunct Professor (Finance Department) at Columbia University&rsquo;s Graduate School of Business where he teaches the course entitled &ldquo;Investment Banking Tax Factors.&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">* (member of the Audit Committee)</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">(5)</TD>
    <TD STYLE="width: 95%"><B>Bernhard Saxe, Esq.</B> is a retired partner&nbsp;in the intellectual property practice group of&nbsp;Foley &amp; Lardner, LLP, and former&nbsp;Vice President of Patent Affairs and Corporate Secretary of Immunomedics, Inc.&nbsp; He is a registered patent attorney and a member of&nbsp;&nbsp;the American Intellectual Property Law Association, American Bar Association and American Chemical Society.&nbsp; He received his J.D. from George Washington University;Ph.D. from Columbia University; and&nbsp;B.A. from Johns Hopkins University in chemistry. Dr. Saxe was named one of the top 10 patent prosecuting attorneys&nbsp;&nbsp;by IP Law and Business<I>, </I>has authored multiple articles pertaining to patent law and&nbsp;&nbsp;given many seminars and lectures&nbsp;on patent law and strategy.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(6)</TD>
    <TD><B>Mario Biaggi, Jr. Esq.</B> is a graduate of Fordham Prep where he was a Maroon Key Honor Society Member as well as Columbia College and Columbia Law School where he was the winner of the Frank Hogan Scholarship named in honor of the legendary Manhattan District Attorney. He graduated Phi Beta Kappa, Cum Laude from Columbia College. Mr. Biaggi was admitted to the bar of the State of New York and later established the law firm of Biaggi &amp; Biaggi with his brother. Mr. Biaggi is an accomplished civil trial attorney who has worked for a variety of public and private clients including the State of New York and the United Federation of Teachers. Mr. Biaggi was elected and re-elected as a judicial delegate in Bronx County and is a past member of the Board of Directors of the Abbott House, a childcare agency and residential treatment center.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* (Member of the Audit Committee)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A013"></A><B>NAMED EXECUTIVE OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A014"></A><B>JOSEPH FELDSCHUH, MD, </B>Dr. Feldschuh has been President
and Chief Executive Officer of Daxor since 1974. He is on the staff of Montefiore Medical Center. From 1966 to 1983, Dr. Feldschuh
was Director of the Cardiac Metabolic Laboratory at Metropolitan Hospital. He has been a Clinical Associate Professor in both medicine
and pathology at New York Medical College and an Assistant Clinical Professor at Cornell Medical School. He performed the basic
research at the College of Physicians and Surgeons (Columbia University) on the measurement and prediction of normal human blood
volume. He is the co-inventor of the BVA-100 Blood Volume Analyzer and the inventor of the quantitative injection kit for the BVA-100.
Originally trained in Endocrinology, he is Board Certified in Cardiology and Internal Medicine. Dr. Feldschuh is the Chief Scientist
for the Company. He has been personally involved in measuring blood volume on more than 4,000 patients during his medical career.
In addition to his duties as Chief Scientist of Daxor, Dr. Feldschuh is also responsible for managing the Company&rsquo;s investment
portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>STEPHEN FELDSCHUH,</B> Vice President
of Marketing and Development<B> </B>earned his undergraduate degree in Business Administration (BS) from Boston University in 1988.
He obtained his Master&rsquo;s degree (MBA) in Finance from Baruch College in 1997. After graduating college, he worked for Bear
Stearns &amp; Merrill Lynch as a Commodity Broker &amp; Futures Trader. From 1992 to 1997, he joined Daxor as Operations Manager
with various responsibilities including Quality Assurance of the laboratory. From mid 1997 to 1999, Mr. Feldschuh was a financial
analyst doing Mergers &amp; Acquisitions in the staffing industry for Headway Corporate Resources. Mr. Feldschuh then worked for
Delia&rsquo;s Inc. as a Financial Controller until 2001 when he rejoined Daxor Corporation as Vice President&#9;of Operations. In 2003, Mr. Feldschuh was named Chief Financial Officer and Vice President of Operations. In January, 2007, he
was named Chief Operating Officer and relinquished the title of Chief Financial Officer. In October 2011, he was named Vice President
of Marketing and Business Development and relinquished the title of Chief Operating Officer. Stephen Feldschuh is the son of Dr.
Joseph Feldschuh, President and CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>DAVID FRANKEL, </B>Promoted to Chief
Financial Officer on January 1, 2007,<B> </B>joined Daxor Corporation at the end of 2005 as the Corporate Treasurer. Prior to joining
the Company, Mr. Frankel was employed as a Controller at Strategic Workforce Solutions in New York. Prior to that, Mr. Frankel
was the Controller at Stern Stewart &amp; Co. from 1997 to 2004, where he oversaw accounting for nine overseas offices and directly
supervised a staff of six in the firm&rsquo;s New York Office. Mr. Frankel earned his Bachelors Degree (BBA) in Public Accounting
from Hofstra University and is licensed as a CPA in New York State.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>EVERIS ENGSTROM, </B>Vice President
of Engineering (Left Daxor on August 19, 2011)<B> </B>has over twenty years of research &amp; development and operations management
experience in the medical device and consumer electronics industries. He has a broad range of expertise in systems engineering,
operations management, financial analysis, electromechanical design, software engineering, failure analysis and manufacturing processes.
He was in charge of Daxor&rsquo;s Oak Ridge Operations (DORO) and responsible for coordinating construction of the BVA-100 manufacturing
facility. His responsibilities included coordination of other sub-contractors involved in the manufacturing of the BVA system.
Prior to joining Daxor, Mr. Engstrom was the Project Manager/Group Manager of Hardware Engineering for Beckman Coulter. In this
position, he led a thirty seven person research and development group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A015"></A><B>IDANT LABORATORIES DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ROBERT ROSENTHAL, M.D., </B>serves as Lab Director and Blood
Bank Director. Dr. Rosenthal is a graduate of Columbia College where he received his A.B., and Columbia College of Physicians &amp;
Surgeons where he received his M.D. Dr. Rosenthal served as a Captain in the U.S. Army Medical Corps. And has had affiliations
with Beth Israel Hospital, LI Jewish Hospital, Mt. Sinai Hospital, and Harlem Hospitals, among others. He is the author of over
70 publications, mostly papers, with several abstracts and a few chapters in books. Among his many accomplishments is the discovery
of Clotting Factor XI, also known as the Rosenthal Factor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ARIEL DISTENFELD, M.D., </B>serves as Assistant
Laboratory Director. Dr. Distenfeld is a graduate of NYU School of Medicine and served his internship and residency at
Bellevue Hospital. He is Board Certified in Hematoogy and Internal Medicine, and is the author/co-author of 10 publications
appearing in such prestigious publications as the <I>Journal of the American Medical Association</I> (JAMA), <I>American
Journal of Surgical Pathology</I> and <I>Annals of Internal Medicine.</I> Dr. Distenfeld is also the founder of the second
autologous blood bank in t he United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>DONALD MARGOULEFF, M.D., </B>serves as Medical Director and
Quality Director for Idant. Dr. Margouleff received his B.S. from Tufts College and his M.D. from the University of Bem in Switzerland.
He served as Captain in the United States Air Force as Chief, Department of Medicine, and is American Board of Internal Medicine
and American Board of Nuclear Medicine certified. He is the co-author of two books, and co-author of 37 abstracts and 9 presentations
presented at various medical conferences and seminars such as the Congress of Nuclear Medicine and Biology and the Society for
Magnetic Resonance Imaging.He served as the Chief of Nuclear Medicine at North Shore University Hospital from 1967 to 2006.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>GARY FISCHMAN, PhD., </B>serves as Assistant Laboratory Director.
Dr. Fischman is a graduate of Thomas Jefferson University in Philadelphia where he received his Phd. in Pathology and Hunter College
at CUNY where he received his Bachelors Degree in Physiology. Dr. Fischman is a licensed Podiatrist, receiving that degree from
Temple University School of Podiatry in Philadelphia. Dr. Fischman also serves the Daxor&rsquo;s Quality Assurance Manager for
the Volumex kit batches which are used on conjunction with the BVA-100 Blood Volume Analyzer, and is the Manager of the Blood Volume
Division of Idant Laboratories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A016"></A><B>STOCK OPTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2011, there are 42,800
stock options outstanding with strike prices ranging from $11.39 to $19.80 per share. Of these outstanding stock options, 33,800
were vested as of December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company records any compensation expense associated with stock options in accordance with FASB ASC 718, &quot;Compensation &ndash;
Stock Compensation.&quot; </FONT>Under the fair value recognition provision of FASB ASC 718, stock-based compensation cost is estimated
at the grant date based on the fair value of the award. The Company estimates the fair value of stock options granted using the
Black-Scholes-Merton option pricing model.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company recorded $9,731 of share
based compensation expense in 2011 and $0 in 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A017"></A><B>AUDIT COMMITTEE CHARTER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee&rsquo;s function is one of
oversight, recognizing that the Company&rsquo;s management is responsible for preparing the Company&rsquo;s financial statements,
and the independent auditor is responsible for auditing those statements. In adopting this charter, the Board acknowledges that
the Committee members are not employees of the Company. They are also not providing expert or special assurance as to the Company&rsquo;s
financial statements to any professional certification as to the external auditor&rsquo;s work or auditing standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each member of the Committee shall be entitled
to rely on the integrity of those persons and organizations within and outside the Company that provides information to the Committee
and the accuracy and completeness of the financial and other information provided to the Committee by such persons or organizations,
absent actual knowledge to the contrary. The Company stock is listed on the NYSE Amex and is governed by listing standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the Audit Committee Charter is available at <U>www.daxor.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A018"></A><B>AUDIT COMMITTEE REQUIREMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each member qualifies as independent as
defined in the Corporate Governance Guidelines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The registrant has one member or our Audit
Committee who is a financial expert. He is Robert Willens. Mr. Willens is a CPA and a former tax partner at KPMG. He was also a
Managing Director in the Equity Research Department at Lehman Brothers for 20 years. He has been an adjunct professor at the Columbia
University Graduate School of Business since 1993. He has written over 600 articles which have appeared in professional journals
such as <I>The Journal of Taxation</I>, <I>Tax Notes, the Journal of Accountancy and the Journal of Corporate Taxation.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A019"></A><B>AUDIT COMMITTEE RESPONSIBILITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee&rsquo;s responsibilities
must comply with Rule 10A-3(b) (2), (3), (4) and (5) under the Securities Exchange Act of 1934. The Audit Committee will discuss
with management the Company&rsquo;s earnings press releases prior to their release, including the use of &ldquo;pro-forma&rdquo;
or &ldquo;adjusted&rdquo; non GAAP information, as well as financial information and earnings guidance provided to analysts and
ratings agencies. It has been and is the current policy of the company to use information only in accordance with GAAP standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A020"></A><B>INVESTMENT RISK MANAGEMENT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Members of the Board of Directors have the
power to approve the Company&rsquo;s investment policy. Such policies are formally reviewed by the Board of Directors at least
once a year. The Audit Committee reviews investment results on a monthly basis. All individual investment decisions are made solely
by Dr. Feldschuh. Additional information concerning our investment policies can be found in our Annual Report on Form 10-K for
2011 which was filed on March 28<FONT STYLE="color: red">,</FONT> 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A021"></A><B>PROCESSES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Management shall prepare annually, for review
and approval by the Audit Committee, detailed procedures and processes for carrying on the Audit Committee&rsquo;s duties and responsibilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A022"></A><B>ADDITIONAL AUTHORITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee shall have the authority
to direct an investigation by the independent auditors into any matter related to the Company&rsquo;s business and affairs. In
addition, the Audit Committee shall have the authority to utilize internal company resources, and to retain such outside counsel
and/or other resources as it deems necessary at any time in carrying out the duties of the Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A023"></A><B>MEETINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee will meet on an as needed basis, but not
less frequently than quarterly. Meetings will be called as needed to discuss any significant issues, including those related to
the review of any financial statements by the Company&rsquo;s independent auditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It is intended that any management representative
present at any meeting of the Audit Committee withdraw for a period at the end of each meeting so as to permit discussion in private
with the independent auditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A024"></A><B>REPORTING REQUIREMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On an annual basis, the Audit Committee
will report to the Board of Directors that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font: 10pt Symbol; text-align: center">&middot;</TD>
    <TD STYLE="width: 94%">The Company&rsquo;s audited financial statements have been reviewed and discussed with the independent auditors, including all required SAS No. 61 communications</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: center">&middot;</TD>
    <TD>The Audit Committee has executed its responsibility to oversee the independent auditors. In particular, the Audit Committee shall (a) require (and shall so report to the Board) that the relationships between such accountants and the Company and (b) engage in a dialogue with such auditors concerning whether the provision of permitted non-audit services is compatible with maintaining the auditor&rsquo;s independence, taking into account the opinions of management and internal auditors.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: center">&middot;</TD>
    <TD>The Company&rsquo;s financial statements are filed on a timely basis.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: center">&middot;</TD>
    <TD>The required Audit Committee duties and responsibilities have been met for the most recently completed fiscal year.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A025"></A><B>REPORT OF THE AUDIT COMMITTEE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee of Daxor Corporation (the &ldquo;Committee&rdquo;)
is composed of three directors who, in the judgment of the Board of Directors, meet the independence requirements of our charter
and the NYSE Amex rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee operates under a charter adopted by the Board
of Directors. The primary function of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the Audit Committee is to assist the Board of Directors in its
oversight of the Company&rsquo;s financial reporting processes. Management is responsible for the Company&rsquo;s financial statements
and overall reporting process, including the system of internal controls. The independent auditors are responsible for conducting
annual audits and quarterly reviews of the Company&rsquo;s financial statements and expressing an opinion as to the conformity
of the annual financial statements with generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Committee submits the following report pursuant to SEC rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font: 10pt Symbol; text-align: right">&middot;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 88%">The Committee has reviewed and discussed with management and with Rotenberg Meril Solomon Bertiger &amp; Guttilla, P.C. (&quot;RMSBG&quot;), the Company&rsquo;s independent registered public accounting firm, the audited financial statements of the Company for the year ended December 31, 2011 (the &ldquo;Financial Statements&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: right">&middot;</TD>
    <TD>&nbsp;</TD>
    <TD>RMSBG has advised the management of the Company and the Committee that it has discussed with them all the matters required to be discussed by Statement of Auditing Standards No. 114, which include among other items, matters related to the conduct of the audit of the Financial Statements.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: right">&middot;</TD>
    <TD>&nbsp;</TD>
    <TD>The Committee has received the written disclosures and the letter required by PCOAB Rule 3526, &quot;Communication with Audit Committees Concerning Independence&quot; (which relates to the auditor&rsquo;s independence from the Company and its related entities) from RMSBG. It has discussed RMSBG&rsquo;s independence with them.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Symbol; text-align: right">&middot;</TD>
    <TD>&nbsp;</TD>
    <TD>Based upon the aforementioned review, discussions and representations of RMSBG and the unqualified audit opinion presented by RMSBG on the Financial Statements, the Committee recommended to the Board of Directors that the Financial Statements be included in the Company&rsquo;s Annual Report on Form&nbsp;10-K, and that RMSBG be selected as the independent registered public accounting firm for the Company for fiscal 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&#9;&#9;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">Members of the Audit Committee:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 20pt">Robert Willens, Chairman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 20pt">James Lombard</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 20pt">Martin S. Wolpoff</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A026"></A><B>REPORT OF THE COMPENSATION COMMITTEE ON EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Joseph Feldschuh M.D., the President and Chief Executive Officer
of Daxor, directly owns 73.48% of the Company&rsquo;s outstanding stock. Dr. Feldschuh is responsible for determining the annual
salary and other compensation for executive officers and all other employees of the company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Before the end of each year, the Chief Operating Officer and
Chief Financial Officer prepare a schedule of recommended incentive bonuses and salary increases for executive officers and all
other employees for Dr. Feldschuh to review. The recommendations are based on factors such as the individual&rsquo;s contribution
to the overall success of the company, potential for advancement, and compensation history.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After making any adjustments required by Dr. Feldschuh, bonuses
are generally paid by the end of the year, with raises taking effect on January 1 of the next year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A027"></A><B>COMPENSATION DISCUSSION AND ANALYSIS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This section provides information regarding
the compensation program for our Chief Executive Officer, Chief Operating Officer and other key executives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The overall objectives of Daxor&rsquo;s executive compensation
programs are to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-family: Symbol; text-align: center">&middot;</TD>
    <TD STYLE="width: 91%">Align interests of management and shareholders.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Symbol; text-align: center">&middot;</TD>
    <TD>Retain key personnel.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt"><I>Base Salary and Other Compensation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">The annual salaries for the named executive
officers may be low compared to other Companies because of our ongoing operating losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">Since Dr. Feldschuh owns more than 50% of Daxor stock, the Company
is considered a controlled corporation. As a result, he could be seen as having more discretion than most Chief Executive Officers
in determining his annual compensation. He also functions as the Chief Scientist for the Company and directly supervises the scientific
development process of our products as well as the ongoing development of scientific research protocols. He also regularly interacts
with physicians at various medical institutions who are using the Blood Volume Analyzer. In reviewing the salaries of Chief Scientific
Officers at pharmaceutical and scientific companies, many of these individuals earn annual salaries from $300,000 to over $1,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">In addition to the roles described above, Dr. Feldschuh also
has sole responsibility for determining the strategy for the Company&rsquo;s investment portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">Dr. Feldschuh has deliberately elected to draw a salary that
is well below what the Company believes is the market rate for someone with his responsibilities and qualifications. It is the
belief of the Board of Directors that annual compensation of two or three times what he is currently earning could easily be justified.
The decision to keep his annual compensation at well below market rate has been made as part of an effort to preserve capital in
light of the Company&rsquo;s ongoing losses from operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20pt; text-indent: 20pt">The Board of Directors reviews Dr. Feldschuh&rsquo;s compensation
each year. The Board of Directors votes on his salary at this time. The Board of Directors is in agreement that his annual compensation
is well below market rate for someone with his experience and qualifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A028"></A><B>EXECUTIVE COMPENSATION TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth certain information
concerning the compensation of our Chief Executive Officer and each of our other named executive officers for the years ended December
31, 2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: bottom">Name &amp; Position</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Year</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Salary ($)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Bonus ($)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">All Other Compensation</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Total Compensation</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD ROWSPAN="2" STYLE="width: 35%; text-align: left; vertical-align: top">Joseph Feldschuh, M.D., Chief Executive Officer and President <BR>(All Other Compensation represents automobile expenses)</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">2011</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">280,000</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">45,000</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">13,406</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">338,406</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">275,769</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">40,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8,682</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">324,451</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: top">Stephen Feldschuh, VP of Marketing&nbsp; and Development (All Other Compensation represents automobile allowance)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">196,708</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">6,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">202,708</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">180,865</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">10,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">6,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">196,865</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: top">David Frankel, CFO &nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">127,500</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">135,500</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(234,249,232)">
    <TD>&nbsp;</TD>

    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">127,019</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">7,000</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">134,019</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: top">Everis Engstrom, VP of Engineering (Left Daxor on August 19, 2011)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">118,114</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">118,114</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">141,269</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">141,269</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A029"></A><B>STOCK OPTION GRANTS IN 2011</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1,000 Stock Options were granted to David Frankel on May 16,
2011 at an exercise price of $11.91. This was the only Stock Option Grant made to a named executive officer in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Aggregate Option Exercises in Last Fiscal Year and Year-End
Option Values</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth certain information
concerning the year-end value of stock options of our Chief Executive Officer and the other named executive officers at December
31, 2011. During the year ended December 31, 2011, none of the named executive officers exercised any options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; border: Black 1pt solid">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; text-align: center; vertical-align: bottom"><B>Name</B></TD>
    <TD STYLE="width: 21%; text-align: center; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>Number
    of Securities Underlying Unexercised Options Exercisable</B></TD>
    <TD STYLE="width: 24%; text-align: center; vertical-align: bottom"><B>Number of Securities Underlying Unexercised Options
    Unexercisable</B></TD>
    <TD STYLE="width: 16%; text-align: center; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>Option
    Exercise Price</B></TD>
    <TD STYLE="width: 19%; text-align: center; vertical-align: bottom"><B>Option Expiration Date</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid"><B>Joseph Feldschuh</B></TD>
    <TD STYLE="text-align: center; border: Black 1pt solid"><B>25,000</B></TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid"><B>0</B></TD>
    <TD STYLE="text-align: center; border: Black 1pt solid"><B>$11.39-$16.10</B></TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid"><B>May 2012 - March 2013</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold"><B>David Frankel</B></TD>
    <TD STYLE="text-align: center; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>1,000</B></TD>
    <TD STYLE="text-align: center"><B>1,000</B></TD>
    <TD STYLE="text-align: center; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>$11.91</B></TD>
    <TD STYLE="text-align: center"><B>May 2006</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A030"></A><B>DIRECTORS COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In June 2011, all six outside directors attended the annual
meeting and were paid $1,000 each for the meeting and a board meeting which took place on the same day. Every Director who attended
was paid $750 for each board meeting which took place respectively in March, September and December 2011. Any Director who participates
in a meeting via teleconference instead of attending receives $375 for the meeting. The Company also reimburses Directors for any
travel expense incurred to attend meetings. An employee director receives no fees for Board participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The compensation paid to current and former Directors in 2011
is set forth in the following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; border: Black 1pt solid">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: left; vertical-align: bottom">Name</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; border-right: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>Fees Paid</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Option Awards ($)</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; border-right: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Total</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Options</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Held</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Robert Willens</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; $&nbsp;3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">$ 2,368</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; $&nbsp;5,618</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">6,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">James Lombard</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">999</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">4,249</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">1,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Martin Wolpoff</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;1,184</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 4,434</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">1,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Bernhard Saxe, Esq.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 1,750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 1,750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">1,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Phillip N. Hudson</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">1,184</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">4,434</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">1,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Mario Biaggi, Jr., Esq.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">1,000</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In June 2010, five of the six outside directors who attended
the annual meeting were paid $1,000 each for the meeting and a board meeting which took place on the same day. Every Director who
attended was paid $750 for each board meeting which took place respectively in March, September and December 2010. Any Director
who participates in a meeting via teleconference instead of attending receives $375 for the meeting. The Company also reimburses
Directors for any travel expense incurred to attend meetings. An employee director receives no fees for Board participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -40pt; text-indent: 0.5in">The compensation paid to current and former Directors in 2010
is set forth in the following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; border: Black 1pt solid">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: left; vertical-align: bottom">Name</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; border-right: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>Fees Paid</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Option Awards ($)</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; border-right: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Total</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Options</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Held</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Robert Willens</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp;$&nbsp;3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">$&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; $&nbsp;3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">4,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">James Lombard</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">3,250</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Martin Wolpoff</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">0</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Stanley Epstein, M.D.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Bernhard Saxe, Esq.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 1,750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border: Black 1pt solid">&nbsp; 1,750</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-bottom: Black 1pt solid">1,000</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold">Phillip N. Hudson</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-right: Black 1pt solid; border-left: Black 1pt solid">2,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(234,249,232)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; border-top: Black 1pt solid">Mario Biaggi, Jr., Esq.</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 1,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid">&nbsp;0</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp; 1,500</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: right; border-top: Black 1pt solid">1,000</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A031"></A><B>FEES PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&#9;Audit Fees.&#9;</I></B>The aggregate fees for professional
services rendered by RMSBG for the audit of our annual financial statements included in our Form 10-K for the year ended December
31, 2011 and for the review of financial statements included in our Form 10-Q&rsquo;s for the quarters ended March 31, 2011, June
30, 2011 and September 30, 2011 were $129,000.Comparable fees for the 2010 audit and three quarterly reviews amounted to approximately
$133,000.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Audit Related Fees.&#9;</I></B>The aggregate fees for
services rendered by RMSBG related to SEC administrative hearings and related services and totaled approximately $11,000 in 2011.
Comparable fees in 2010 were approximately $19,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Tax Fees</I></B><I>. </I>The aggregate fees paid to RMSBG
for tax compliance, tax planning and related services amounted to approximately $55,000 in 2011 and $ 61,000 in 2010.&nbsp; Services
in 2011 included those related to tax audits by the Internal Revenue Service for the 2008 tax year and the State of New York for
2008 and 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>All Other Fees</I></B><I>. </I>There were no other fees
paid to RMSBG for services rendered in 2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A NAME="A032"></A><B>STOCK OPTION PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 1994, the Company adopted a stock option
plan under Section 422(b) of the Internal Revenue Code wherein options would be granted to key employees, officers, and directors
where the exercise would at least equal the fair market value on the date of the grant. The 1994 Company Stock Option Plan expired
in June 2004. Under the non-qualified stock option plan adopted in 2004, in accordance to Section 422 (b) of the Internal Revenue
Code, options are granted to key employees, officers, directors, and consultants where the exercise equals at least 110% of the
fair market value on the date of the grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to adjustment as provided in the Plan, the stock to
be offered shall consist of shares of theCompany&rsquo;s authorized but not issued Common Stock, $.01 par value, and the aggregate
amount of stock to be delivered upon exercise of all options granted under the Plan shall not exceed 200,000 of such shares, or
5% of the Company&rsquo;s outstanding shares, whichever is the larger number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 11%; text-align: left"><A NAME="A033"></A><B>ITEM 2:</B></TD><TD STYLE="width: 3%"></TD><TD STYLE="text-align: left; width: 86%"><B>RATIFICATION
                                                                                        OF SELECTION OF INDEPENDENT REGISTERED
                                                                                        PUBLIC ACCOUNTANTS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee of the Board has selected
Rotenberg Meril Solomon Bertiger &amp; Guttilla, (RMSB&amp;G) PC, Certified Public Accountants, to serve as the independent registered
public accountants for the fiscal year ending December 31, 2012 RMSB&amp;G is familiar with our operations and the Audit Committee
is satisfied with the professional reputation of RMSB&amp;G in the auditing field, its personnel, their qualifications and independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 11%; text-align: left"><A NAME="A034"></A><B>ITEM 3:</B></TD><TD STYLE="width: 3%"></TD><TD STYLE="text-align: left; width: 86%"><B>PROPOSAL TO APPROVE THE CURRENT LEVELS OF COMPENSATION FOR THE COMPANY&rsquo;S
NAMED EXECUTIVES.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The American Recovery and Reinvestment Act of 2009 (the
&ldquo;ARRA&rdquo;) was enacted on February 17, 2009. Pursuant to the ARRA, the Company seeks a non-binding advisory vote
from its shareholders to approve the compensation of our executives as described under &ldquo;Executive Compensation
&ndash; Compensation Discussion and Analysis&rdquo; and the tabular disclosure regarding named executive officer compensation
in this proxy statement (see pages 16 to 17).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This proposal, commonly known as a &ldquo;Say
on Pay&rdquo; proposal, gives our shareholders the opportunity to express their views on the company&rsquo;s executive compensation.
Because your vote is advisory, it will not be binding upon the Board. However, the Board of Directors<B> </B>will take into account
the outcome of the vote when making future executive compensation decisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this proxy statement,
the Company knows of no business that will be presented for consideration at the annual meeting other than the items referred to
above. If any other matter is properly brought before the meeting for action by the stockholders, proxies in the enclosed form
returned to the Company or other custodians<B> </B>will be voted in accordance with the recommendation of the Board of Directors
or, in the absence of such a recommendation, in accordance with the judgment of the proxy holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="A035"></A><B>ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Stockholder Proposals for the 2013 Annual Meeting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Stockholders interested in presenting a
proposal for consideration at the Company&rsquo;s annual meeting of stockholders in 2013 may do so by following the procedures
prescribed in Rule 14a-8 under the Securities Exchange Act of 1934 and the Company&rsquo;s by-laws. To be eligible for inclusion
in the proxy statement, the stockholder proposals must be received by the Company&rsquo;s President no later than December 15,
2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Stockholders interested in presenting a
proposal at the Company&rsquo;s annual meeting of stockholders outside the procedures prescribed in Rule 14a-8 (i.e. a proposal
to be presented at the annual meeting of stockholders in 2013 but not included in the Company&rsquo;s proxy statement) must be
received by the Company&rsquo;s President no later than January 30, 2013 to be considered timely. Under the SEC&rsquo;s proxy voting
rules, the Company may exercise discretionary voting authority on stockholder proposals received after such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 35%; text-align: right"></TD><TD STYLE="width: 50%">By Order of the Board of Directors,</TD><TD STYLE="text-align: left; width: 15%"></TD>
</TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: right"></TD><TD>Diane M. Meegan</TD><TD STYLE="text-align: left">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="text-align: right"></TD><TD>Corporate Secretary</TD><TD STYLE="text-align: left">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><B>A
COPY OF THE COMPANY&rsquo;S ANNUAL REPORT OR FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2011 MAY BE OBTAINED BY SHAREHOLDERS SOLICITED
HEREBY (WITHOUT CHARGE) UPON WRITTEN REQUEST TO <FONT STYLE="font-variant: small-caps">Diane M. Meegan</FONT>, INVESTOR RELATIONS,
DAXOR CORPORATION, 350 FIFTH AVENUE, SUITE 7120, NEW YORK, NEW YORK, 10118. THE 10-K IS ALSO ACCESSIBLE THROUGH THE COMPANY WEBSITE
<U>WWW.DAXOR.COM</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: right; margin-bottom: 0pt">18</P>

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