UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~September~~October 177, 2009

ClearPoint Business Resources, Inc.

(Exact name of registrant as specified in its charter)

Delaware		000-51200		30-0429020
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1600 Manor Drive, Suite 110, Chalfont, PA		18914
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code:

(215) 997-7710

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01

Entry into a Material Definitive Agreement.

As previously disclosed in the filings of ClearPoint Business Resources, Inc.’s (the “Company”) ~~filings~~ with the Securities and Exchange Commission, on ~~April~~August 2514, ~~2008~~2009, ~~Alliance~~the ~~Consulting~~Company ~~Group~~entered ~~Associates,~~into ~~Inc.~~an ~~(“Alliance”)~~Amended ~~filed~~and aRestated ~~complaint~~Revolving inCredit ~~the~~Agreement ~~Court of~~(the ~~Common~~“Loan ~~Pleas~~Agreement”) ~~(Montgomery~~with ~~County,~~ComVest ~~Pennsylvania)~~Capital, ~~against~~LLC ~~ClearPoint~~(“ComVest”). The ~~Resources,~~Loan ~~Inc.,~~Agreement provided that the Company’s ~~wholly-owned~~Board ~~subsidiary~~of Directors (the “~~CPR~~Board”) should, on ~~alleging~~or ~~that~~prior ~~CPR~~to ~~failed~~September ~~to honor~~28, ~~certain~~2009, ofinclude ~~its~~two ~~contractual~~(2) ~~obligations~~members todesignated ~~pay~~by ComVest, ~~Alliance~~each ~~for~~to ~~services rendered~~be ~~under~~placed awithin ~~Professional~~separate ~~Services~~classes ~~Master~~of ~~Agreement,~~the ~~dated~~Board ~~June~~and ~~18, 2007. Namely,~~each ~~Alliance~~of ~~alleged~~whom will ~~that~~be ~~CPR~~unaffiliated ~~had~~with ~~failed~~and toindependent ~~pay approximately~~of ~~$600,000~~ComVest.

On ~~September~~October 177, 2009, ~~CPR~~the Company and ~~Alliance~~ComVest ~~Global Services, LLC, as successor to Alliance,~~ entered into a ~~Settlement~~Letter ~~Agreement~~Amendment ~~and Release of Claims~~ (the “~~Settlement Agreement~~Amendment”)~~. Pursuant~~ to the ~~Settlement~~Loan Agreement, ~~CPR paid~~pursuant ~~$50,000~~ to ~~Alliance~~which ~~and~~the parties agreed to ~~pay Alliance an aggregate of $150,000 in~~ 24extend ~~equal monthly installments beginning on April 15, 2010. In~~ the ~~event~~ ~~CPR~~Company’s ~~fails~~obligation to ~~make~~have ~~any~~such ~~payment~~directors ~~due~~serve ~~under~~on the ~~Settlement~~Board ~~Agreement, Alliance~~until ~~may,~~December ~~after providing CPR with prior written notice and five business days’ opportunity to cure~~27, ~~confess judgment against CPR in the amount of $300,000~~2009.

The ~~Settlement Agreement also includes various other provisions customary for an agreement of this nature. The~~ foregoing is a summary of the material provisions of the ~~Settlement Agreement~~Amendment. This summary is not intended to be complete and is qualified in its entirety by reference to the ~~Settlement Agreement~~Amendment, attached hereto as Exhibit 10.1.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures set forth in Item 1.01 above are incorporated by reference into this Item 2.03.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.	Description
10.1	~~Settlement~~Letter ~~Agreement~~Amendment &to ~~Release~~the ofAmended ~~Claims~~and ~~dated~~Restated ~~September~~Revolving ~~17,~~Credit ~~2009~~Agreement by and between ~~Alliance~~ComVest ~~Global Services~~Capital, LLC, ~~as successor to Alliance Consulting Group Associates, Inc.,~~ and ClearPoint Business Resources, Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: ~~September~~October 238, 2009

CLEARPOINT BUSINESS RESOURCES, INC. By: /s/ ~~Michael~~John ~~Traina~~G. Phillips Name: ~~Michael~~John ~~Traina~~G. Phillips Title: Chief ~~Executive~~Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
10.1	~~Settlement~~Letter ~~Agreement~~Amendment &to ~~Release~~the ofAmended ~~Claims~~and ~~dated~~Restated ~~September~~Revolving ~~17,~~Credit ~~2009~~Agreement by and between ~~Alliance~~ComVest ~~Global Services~~Capital, LLC, ~~as successor to Alliance Consulting Group Associates, Inc.,~~ and ClearPoint Business Resources, Inc.

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