Demand Promissory Note between ClearPoint Business Resources, Inc. and Michael D. Traina dated June 6, 2008
ClearPoint Business Resources, Inc. agrees to repay Michael D. Traina $109,449 upon his request. No interest is charged until repayment is demanded, after which a 5% annual interest rate applies. The company waives certain formalities related to payment demands, making it easier for Mr. Traina to collect the debt. This agreement is effective as of June 6, 2008.
Exhibit 4.1
DEMAND PROMISSORY NOTE
| AMOUNT: | US$109,449 | |
| DATE: | June 6, 2008 | |
FOR VALUE RECEIVED, CLEARPOINT BUSINESS RESOURCES, INC. promises to pay MICHAEL D. TRAINA the principal amount of US$109,449 (One Hundred Nine Thousand Four Hundred Forty-Nine U.S. Dollars) on demand. No interest shall accrue on the unpaid principal balance of this Note until demand, with interest at the rate of 5% per annum after demand.
ClearPoint Business Resources, Inc. waives presentment, demand, notice of dishonour and protest or further notice of any kind and agrees that he shall remain liable in respect of this Note as if presentment, demand, notice of dishonour and protest had been duly made or given.
| FULL VALUE RECEIVED: | ||
| CLEARPOINT BUSINESS RESOURCES, INC. | ||
| By: |
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| Name: |
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| Title: |
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| ACKNOWLEDGED AND ACCEPTED: | ||
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| Michael D. Traina | ||
