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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549

AMENDMENT
NO. 1
FORM
20-F/A

o     REGISTRATION
STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

x     ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF           1934

For
the fiscal year ended December 31, 2008

OR

o     
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

o      SHELL
COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report __________

For the transition period from ___________ to _____________

Commission file number
001-14184



B.O.S. BETTER ONLINE
SOLUTIONS LTD. (Exact name of
Registrant as specified in its charter)

ISRAEL
(Jurisdiction of
incorporation or organization)

20 Freiman Street,
Rishon LeZion, 75100, Israel(Address of
principal executive offices)

Securities registered or to be registered pursuant to Section 12(b) of the Act: Ordinary Shares, nominal
value NIS 4.00 per share

Securities registered or to be registered pursuant to Section 12(g) of the Act: NONE

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: NONE



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Indicate the number of outstanding
shares of each of the issuers classes of capital or common stock as of the close of
the period covered by the annual report: 13,027,514 ordinary shares, nominal value NIS
4.00 per share, as of December 31, 2008 and 13,027,514 ordinary shares, nominal value NIS
4.00 per share, as of May 31, 2009.

Indicate by check mark if the
registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes o No x

If this report is an annual or
transition report, indicate by check-mark if the registrant is not required to file
reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes o No x

Indicate by check mark whether the
registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

Yes x No o

Indicate by check mark whether the
registrant has submitted electronically and posted on its corporate Web site, if any,
every Interactive Data File required to be submitted and posted pursuant to Rule 405 of
Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files)*.

Yes o No x

*The registrant has not yet been
phased into the interactive data requirements.

Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.
See definition of accelerated filer and large accelerated filer in Rule 12b-2
of the Exchange Act. (Check one):

|                          |                     |                        
|------------------------- | ------------------- | -----------------------
|
|
|
|
|Large accelerated filer o | Accelerated filer o | Non-accelerated filer x
|                          |                     |                        

Indicate by check mark which
financial statement item the registrant has elected to follow:

Item 17 o Item 18 x

Indicate by check mark which basis of
accounting the registrant has used to prepare the financial statements included in this
filing:

U.S.GAAP x   International Financial Reporting Standards as issued by the International
Accounting Standards Board o   Other o

If Other has been checked
in response to the previous question, indicate by check mark which financial statement
item the registrant has elected to follow.

Item 17 o Item 18  o

If this is an annual report, indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act).

Yes o No x



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# EXPLANATORY NOTE

This
Amendment No. 1 to the Annual Report on Form 20-F/A for the year ended December 31, 2008,
of B.O.S Better Online Solutions Ltd. (the Registrant) is filed in order to
submit an amended version of Exhibit 4.15  Framework Agreement between BOS 
Supply Chain Solutions (Summit), Inc. (formerly known as Summit Radio Corp.) and a
Strategic Customer. Confidential treatment has been requested with respect to portions of
Exhibit 4.15, which have been redacted, and the redacted portions have been filed
separately with the Securities and Exchange Commission.

Except as described above,
this Amendment No. 1 to the Form 20-F/A continues to speak as of June 30,
2008 and no other changes have been made to the Annual Report. This Amendment No. 1 does
not amend or update any other information set forth in the Annual Report and we have not
updated disclosures contained therein to reflect any events that occurred at a date
subsequent to the filing of the Annual Report.



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# Item 19: Exhibits

The following exhibits are filed as
part of this Annual Report:

|1.1 | Memorandum
of Association, as amended (incorporated by reference to Exhibit 1.1 of the Companys
Annual Report on Form 20-F filed with the SEC on June 28, 2006).
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------

|1.2 | Articles
of Association, as amended (incorporated by reference to Exhibit 1.2 of the Companys
Annual Report on Form 20-F filed with the SEC on June 28, 2006).
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.1 | Form
of Indemnification Agreement between the Company and its officers and directors, as
amended (incorporated by reference to Exhibit 4.1 of the Companys Annual Report on
Form 20-F filed with the SEC on June 28, 2006).
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.2 | Services
 Agreement,  dated as of April 15, 2003, between Cukierman & Co. Investment House Ltd.,
Dimex          Solutions Ltd. and the Registrant  (incorporated  by reference to the
Company's  Annual Report on Form          20-F filed on June 17, 2004).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.3 | M&A Addendum
to the Service  Agreement,  as of August 22,  2004,  between  Cukierman & Co.  Investment
         House Ltd.,  Dimex  Solutions  Ltd. and the  Registrant  (incorporated  by
reference to the  Company's          Annual Report on Form 20-F filed on June 27, 2005).
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.4 | The
 Registrant's  Israeli  2003  Share  Option  Plan  (incorporated  by  reference  to the
 Company's          Registration Statement on Form S-8 No. 333-11650).
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.5 | Share
Purchase Agreement dated as of the October 30, 2007 by and between Donald Levi and Andrew
Levi and the Registrant (incorporated by reference to the Companys Annual Report on
Form 20-F filed on June 30, 2008).
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.6 | Securities
Purchase Agreement, dated as of the December 10, 2007, by and between certain investors
and the Registrant; Registration Rights Agreement dated as of the December 10, 2007 by
and between certain investors and the Registrant; and Form of Warrant dated as of
December 31, 2007 issued by the Registrant to certain investors (incorporated by
reference to the Companys Annual Report on Form 20-F filed on June 30, 2008).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.7 | Asset
Purchase Agreement dated as of the January 29, 2008 by and between Dimex Systems (1988)
Ltd., Dimex Hagalil Ltd., and the Registrant (incorporated by reference to the Companys
Annual Report on Form 20-F filed on June 30, 2008).
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.8 | Amendment
No. 1 to Asset  Purchase  Agreement by and among the Company,  Dimex Systems (1988) Ltd.
and          Dimex Hagalil Ltd.,  dated March 23, 2009  (incorporated  by reference to
the Company's  Amendment no.          2 to Registration Statement on Form F-3 no.
333-152020).
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.9 | Finder
 Fee  Letter  by and  between  the  Company  and  T.F.E.  Holdings  Ltd.,  dated  June 3,
 2008          (incorporated by reference to the Company's Registration Statement on Form
F-3 no. 333-152020).
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.10 | Share
Purchase  Agreement and  Registration  Rights Agreement dated as of July 16, 2008 by and
between          certain  investors  and the  Registrant.  Form of  Warrant  dated as of
July 16,  2008  issued  by the          Registrant  to certain  investors  (incorporated
 by reference  to the  Company's  Amendment  no. 1 to          Registration Statement on
Form F-3 no. 333-152020).
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.11 | Share
Purchase Agreement and Registration  Rights Agreement dated as of August 25, 2008 by and
between          certain  investors  and the  Registrant.  Form of Warrant  dated as of
August 25,  2008  issued by the          Registrant  to certain  investors  (incorporated
 by reference  to the  Company's  Amendment  no. 1 to          Registration Statement on
Form F-3 no. 333-152020).
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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|4.12 | Bank
Leumi Le-Israel Agreements: Summary of Economic Terms, Form of Request to Allocate a
Credit in Israeli Currency (unlinked), and Form of Request to Allocate a Credit Framework
in Debitory Account (unlinked) (incorporated by reference to the Companys Annual
Report on Form 20-F filed on June 30, 2008).
|---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.13* | Forms
of Advised Line of Credit Note,  Continuing  Security Agreement and Continuing  Guarantee
by and          between BOS - Supply  Chain  Solutions  (Summit),  Inc.  (formerly  known
as Summit  Radio  Corp.) and JPMorgan Chase Bank.
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.14 | Credit
Line agreements by and between Bank Leumi  Le-Israel and each of Odem  Electronic
 Technologies          1992 Ltd. and Dimex  Solutions Ltd.;  Covenant  Letters and
 Subordination  Letters  (incorporated  by          reference to the Company's Amendment
no. 2 to Registration Statement on Form F-3 no. 333-152020).
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.15** | Framework
Agreement between BOS  Supply Chain Solutions (Summit), Inc. (formerly known as
Summit Radio Corp.) and a Strategic Customer. (Confidential treatment has been requested
with respect to portions of this exhibit, which have been redacted, and the redacted
portions have been filed separately with the Securities and Exchange Commission.)
|------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.16* | Form
of Loan Agreement and Registration Rights Agreement by and between certain lenders and
the Registrant. Form of Warrant issued by the Registrant to certain lenders.
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8.1 | List
of subsidiaries (incorporated by reference to Item 4C of this Annual Report on Form 20-F).
|--- | -----------------------------------------------------------------------------------------------

|11* | Statement
of Computation of Earnings Per Share
|--- | ----------------------------------------------

|12.1** | Certification
by Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities
Exchange Act of 1934.
|------ | -----------------------------------------------------------------------------------------------------------------------------

|12.2** | Certification
by Chief Financial Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities
Exchange Act of 1934.
|------ | -----------------------------------------------------------------------------------------------------------------------------

|13.1** | Certification
by Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) or Rule
15d-14(b) of the Securities Exchange Act of 1934.
|------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------

|23.1* | Consent
of Kost Forer Gabbay & Kasierer, a member of Ernst &Young Global.
|----- | -------------------------------------------------------------------------

|23.2* | Consent
of Arik Eshel, CPA & Assoc., PC
|----- | ---------------------------------------

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|* | Previously
filed.
|- | -----------------

|** | Filed
herewith.
|-- | ---------------



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# Signatures

The Registrant hereby certifies that
it meets all of the requirements for filing on Amendment No. 1 to the Form 20-F/A and that
it has duly caused and authorized the undersigned to sign this Amendment No. 1 to the
annual report on its behalf.

| | B.O.S. Better Online Solutions Ltd.
| | -----------------------------------

|                              |                             
|----------------------------- | ----------------------------
|
|
|
|
|/s/ Yuval Viner | /s/ Eyal Cohen
|Yuval Viner                   | Eyal Cohen                  
|Chief Executive Officer       | Chief Financial Officer     

Date: October 22, 2009



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