Demand Promissory Note between ClearPoint Business Resources, Inc. and Parker Drew dated June 6, 2008
ClearPoint Business Resources, Inc. agrees to repay Parker Drew $50,000 upon demand under this promissory note. No interest is charged until repayment is requested, after which a 5% annual interest rate applies. ClearPoint waives certain formalities related to payment demands and remains fully responsible for repayment. The agreement is effective as of June 6, 2008.
Exhibit 4.2
DEMAND PROMISSORY NOTE
| AMOUNT: | US$50,000 | |
| DATE: | June 6, 2008 | |
FOR VALUE RECEIVED, CLEARPOINT BUSINESS RESOURCES, INC. promises to pay PARKER DREW the principal amount of US$50,000 (Fifty Thousand 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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| Parker Drew | ||
