Document:

Exhibit 4.6

Form of
Subordinated Note

(FACE OF SECURITY)

[Each Global Security shall bear
substantially the following legend:

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS SECURITY IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

[If the Security has original issue discount
for U.S. federal income tax purposes, insert tax legend:

[FOR PURPOSES OF SECTIONS  1272 , 1273,
and 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“THE CODE”),  THIS SECURITY IS BEING ISSUED WITH
ORIGINAL ISSUE DISCOUNT.  THE AMOUNT OF ORIGINAL ISSUE DISCOUNT (AS DEFINED IN SECTION 1273(A)(1) OF THE CODE AND TREASURY
REGULATION SECTION 1.1273-1(A)) WITH RESPECT TO THIS SECURITY IS ______, THE ISSUE DATE (AS DEFINED IN SECTION 1275(A)(2) OF THE
CODE AND TREASURY REGULATION SECTION 1.1273-2(A)(2)) OF THIS SECURITY IS _______, THE ISSUE PRICE (AS DEFINED IN SECTION 1273(B)
OF THE CODE AND TREASURY REGULATION SECTION 1.1273-2(A)) OF THIS SECURITY IS _______, AND THE YIELD TO MATURITY (AS DEFINED IN
TREASURY REGULATION SECTION 1.1272-1(B)) OF THIS SECURITY IS _______.] ]

 

    	 

    	 

    

 

FRANKLIN STREET PROPERTIES CORP.

[ Title of Security ]

	No. [   ]	CUSIP No.:  [   ]
	 	[Common Code][ISIN]:   [    ]
	 	[$   ]

Franklin Street Properties
Corp., a Delaware corporation (“Issuer”, which term includes any successor corporation), for value received promises
to pay to [If the Security is a Global Security -- CEDE & CO.][If the Security is not a Global Security -- __________]
or registered assigns, the principal sum of __________ on __________,____ (the “Maturity Date”) [If the Security
is to bear interest prior to maturity, insert--, and to pay interest thereon from _____________ or from the most recent interest
payment date to which interest has been paid or duly provided for, [semiannually in arrears on ______ and ______ in each year],
commencing _________, ____ (each, an “Interest Payment Date”) at the rate of [___% per annum], until the principal
hereof is paid or made available for payment [If applicable insert--, and (to the extent that the payment of such interest
shall be legally enforceable) at the rate of ___% per annum on any overdue principal and on any overdue installment of interest].
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture
(as defined below), be paid to the Holder in whose name this Security (or one or more predecessor Securities) is registered at
the close of business on the record date for such interest, which shall be the _______ or ________ (whether or not a Business Day),
as the case may be, next preceding such Interest Payment Date (each, an “Interest Record Date”). Interest will be computed
on the basis of [a 360-day year of twelve 30-day months].]

[If the Security is
not to bear interest prior to maturity, insert--The principal of this Security shall not bear interest except in the case of
a default in payment of principal upon acceleration, upon redemption or at maturity and, in each such case, the overdue principal
of this Security shall bear interest at the rate of ___% per annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or
duly provided for. Interest on any overdue principal shall be payable on demand.]

Reference is made to
the further provisions set forth on the reverse of this Security contained herein, which will for all purposes have the same effect
as if set forth at this place.

    	 

    	 

    

IN WITNESS WHEREOF,
the Issuer has caused this Security to be signed manually or by facsimile by its duly authorized officer under its corporate seal.

FRANKLIN STREET PROPERTIES CORP.

By:    _____________________________________

Name: _______________________________

Title: ________________________________

Attest:

By: __________________________

Name: ________________________

Title: _________________________

 

This is one of the
Securities of the series designated herein and referred to in the within-mentioned Indenture.

Dated:  [   ]

____________, as Trustee

By:   _____________________________________

Title: ________________________________

 

 

    	 

    	 

    

(REVERSE
OF SECURITY)

FRANKLIN
STREET PROPERTIES CORP.

[ Title
of Security ]

		1.	Indenture

This Security is one
of a duly authorized issue of debentures, notes or other evidence of indebtedness (hereinafter called the “Securities”)
of the Issuer of the series hereinafter specified, which series is initially limited in aggregate principal amount to [$]____________,
all of such Securities issued and to be issued under an Indenture dated as of ________, _____ (the “Indenture”) between
the Issuer and __________________________ as trustee (the “Trustee”). Capitalized terms herein are used as defined
in the Indenture unless otherwise indicated. The terms of the Securities include those stated in the Indenture and those made part
of the Indenture by reference to the Trust Indenture Act of 1939, as in effect on the date of the Indenture. The Securities are
subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms.
To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Security and the terms of
the Indenture, the terms of the Indenture shall control.

This Security is one
of a series of Securities designated pursuant to the Indenture [and an [Supplemental Indenture] dated _____, _____, issued
pursuant to Section 2.01 and Section 2.03 thereof (the “Supplement”)] as ________________. The Securities are general
unsecured obligations of the Issuer. The Issuer may, subject to the provisions of the Indenture and applicable law, issue additional
Securities of any series under the Indenture.

		2.	Method of Payment.

The Issuer shall pay
interest on the Securities (except defaulted interest) to the persons who are the registered Holders at the close of business on
the Interest Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security
subsequent to such Interest Record Date and prior to such Interest Payment Date. Holders must surrender Securities to the Trustee
to collect principal payments. The Issuer shall pay Principal and interest in money of [the United States] that at the time
of payment is legal tender for payment of public and private debts. [However, the payments of interest, and any portion of the
Principal (other than interest payable at maturity or on any redemption or repayment date or the final payment of Principal) shall
be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by __________ [a./p.m.], New York
City time (or such other time as may be agreed to between the Issuer and the Paying Agent or the Issuer), directly to a Holder
(by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to
such payment date requesting that such payment will be so made and designating the bank account to which such payments shall be
so made and in the case of payments of Principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating
the same principal amount as the unredeemed principal amount of the Securities surrendered.]

    	 

    	 

    

		3.	Redemption.

[The Securities
of this series may be redeemed at any time [on or after ______, ______], as a whole or in part, at the option of
the Issuer, upon mailing notice of such redemption not less than 30 and not more than 60 days to the Holders of such Securities,
at a redemption price equal to ___________.]

		4.	Paying Agent and Security Registrar

Initially, the Trustee
will act as Paying Agent and Security Registrar.  The Issuer may change any Paying Agent or Security Registrar without
notice to the Holders.

		5.	Denominations; Transfer; Exchange.

The Securities are
in registered form, without coupons, in denominations of [$1,000] and multiples of [$1,000]. A Holder shall register
the transfer of or exchange Securities in accordance with the Indenture. The Issuer may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable
in connection therewith as permitted by the Indenture. [The Issuer need not register the transfer of or exchange (a) any Securities
for a period of fifteen (15) days preceding the first mailing of notice that such Securities are to be redeemed, or (b) any Securities
selected, called or being called for redemption in whole or in part, except, in the case of any Security to be redeemed in part,
the portion thereof not to be so redeemed.]

		6.	Persons Deemed Owners.

The registered Holder
of a Security shall be treated as the owner of it for all purposes.

		7.	Unclaimed Funds.

If funds for the payment
of principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the Issuer. After
that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.

		8.	Defeasance.

The Indenture [as
amended by the Supplement] contains provisions for defeasance at any time of (a) the entire indebtedness of the Issuer on this
Security and (b) certain restrictive covenants and the related Events of Default, upon compliance by the Issuer with certain conditions
set forth therein, which provisions [apply] to this Security.

		9.	Amendment; Supplement; Waiver.

Subject to certain
exceptions, the Securities of this series, [the Supplement] and the provisions of the Indenture relating to the Securities of this
series may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount
of the Securities of this series then outstanding, and any existing Default or Event of Default, other than the non-payment of
the principal amount of or interest on the Securities of this series, or compliance with certain provisions may be waived with
the consent of the Holders of a majority in aggregate principal amount of all the Securities of this series, then outstanding.
Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Securities to, among
other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of
certificated Securities, or make any other change that does not adversely affect the rights of any Holder of a Security.

    	 

    	 

    

		10.	Defaults and Remedies.

If an Event of Default
(other than certain bankruptcy Events of Default with respect to the Issuer) occurs and is continuing, the Trustee or the Holders
of at least 25% in aggregate principal amount of Securities of this series then outstanding (voting as a separate class) by notice
in writing to the Issuer (and also to the Trustee if such notice is given by the Holders) may declare [the entire principal]
of the Securities of this series and the interest accrued thereon, if any, to be due and payable immediately in the manner and
with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer occurs and is continuing,
then [the entire principal] of the Securities then outstanding and interest accrued thereon, if any, shall become due and
payable immediately in the manner and with the effect provided in the Indenture.  Holders of Securities may not enforce
the Indenture or the Securities except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the
Securities unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided,
Holders of a majority in aggregate principal amount of the Securities then outstanding to direct the Trustee in its exercise of
any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of Default
if it determines that withholding notice is in their interest.

		11.	Subordination.

Reference is made to
the Indenture, including, without limitation, provisions subordinating the payment of principal of and premium, if any, and interest
on the Securities to the prior payment in full of all Senior Indebtedness as defined in the Indenture.  Such further
provisions shall for all purposes have the same effect as though fully set forth at this place.

		12.	Trustee Dealings with Issuer.

The Trustee under the
Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the
Issuer as if it were not the Trustee.

		13.	No Recourse Against Others.

No stockholder, director,
officer, employee or incorporator, past, present or future as such, of the Issuer or any predecessor or successor corporation thereof
shall have any liability for any obligation under the Securities or the Indenture or for any claim based on, in respect of or by
reason of, such obligations or their creation. Each Holder of a Security by accepting a Security waives and releases all such liability.
The waiver and release are part of the consideration for the issuance of the Securities.

    	 

    	 

    

		14.	Authentication.

This Security shall
not be valid until the Trustee manually signs the certificate of authentication on this Security.

		15.	Abbreviations and Defined Terms.

Customary abbreviations
may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by
the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

		16.	CUSIP Numbers.

Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on
the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers
as printed on the Securities and reliance may be placed only on the other identification numbers printed hereon.

		17.	Governing Law.

The laws of the State
of New York shall govern the Indenture and this Security thereof, and for all purposes this Security shall be governed by and construed
in accordance with the laws of such State without regard to any principle of conflict of laws that would require or permit the
application of the laws of any other jurisdiction, except as may otherwise be required by mandatory provisions of law.

 

    	 

    	 

    

ASSIGNMENT
FORM

I or we assign and
transfer this Security to

	 
	(Print or type name, address and zip code of assignee or transferee)
	 
	 
	(Insert Social Security or other identifying number of assignee or transferee)

and irrevocably appoint ______________________________________________
agent to transfer this Security on the books of the Issuer.  The agent may substitute another to act for him.

	Dated:	 	 	Signed:	 
	 	 	 	 	(Signed exactly as name appears on the other side of this Security)

Signature

Guarantee: ______________________________________

Participant in a recognized Signature Guarantee Medallion
Program (or other 

signature guarantor program reasonably acceptable to the Trustee)Exhibit 10.1

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

THIS EXECUTIVE
EMPLOYMENT AGREEMENT (this “Agreement”) is made as of January 12, 2015 (the Effective Date”), by
and between Corporate Resource Services, Inc., a Delaware corporation (the “Company”), and Joseph P. Ciavarella
(the “Employee”). Certain definitions are set forth in Section 4 of this Agreement.

 

1.           Employment.

 

(a)           Positions
and Duties. The Company agrees to employ the Employee and the Employee accepts such employment for the period beginning as
of the date hereof and ending upon termination pursuant to Section 1(c) hereof (the “Employment Period”). The
Employee shall serve as Chief Financial Officer of the Company, and shall have the normal duties and responsibilities of such an
employee, including day to day responsibility for accounting and financial matters, subject to the normal power of the Board and
of the President and Chief Executive Officer (“CEO”). The Employee will report directly or indirectly to the
President, CEO or the Board of the Company. The Company may from time to time and in its sole discretion, redefine or reclassify
the Employee’s title, responsibilities, duties or obligations under this Agreement, however, the Company shall not materially
alter the terms of this Agreement without the written approval of the Employee pursuant to Section 7 hereof.

 

(b)           Compensation
and Benefits.

 

(i)            Salary.
  During the Employment Period, the Company will pay the Employee a base salary of $320,000 per annum, less applicable withholdings,
which shall be payable in arrears in regular periodic installments according to Company’s normal payroll practices (the “Annual
Base Salary”).

 

(ii)           Bonus.  
The Employee will be eligible for a discretionary bonus based on the Employee’s performance if and when determined by the
Company’s President, CEO and/or Board of Directors. 

 

(iii)          Options.  
Upon Board approval the Employee shall granted a 10-year option, exercisable for 150,000 shares with a strike price equal to the
closing price on the business day prior to the date of grant exercisable, which shall vest on an annual basis ratably over three
years beginning on the first anniversary of the effective date of his employment agreement, at the closing share price on the date
prior to the effective date, subject to the terms of the Company’s Standard Option agreement.

 

(iv)          Car
Allowance.   During the Employment Period, the Company shall pay to the Employee the amount of $500 monthly for the expenses
incurred by the Employee for the cost of maintaining an automobile for business use, including lease costs, gas, maintenance and
insurance.

 

(iv)          Other
Benefits.   In addition, during the Employment Period, the Employee will be entitled to participate in such plans and programs
as the Company may adopt from time to time in accordance with the terms of those plans and programs.

 

(v)           Paid
Time Off/Vacation.   Employee will be entitled to 20 days of paid time off/vacation in accordance with the Company’s policies.

 

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(vi)          Expenses.
  Company shall pay or reimburse Employee, in accordance with Company’s reimbursement policy, for any expenses reasonably incurred
by Employee in furtherance of Employee’s duties hereunder, including, but not limited to, expenses for reasonable traveling,
meals and hotel accommodations, upon submission by Employee of vouchers or itemized lists prepared in compliance with such rules
and policies as Company may from time to time adopt and as may be required in order to permit such payments as proper deductions
to Company under the Internal Revenue Code and the rules and regulations adopted now or hereafter in effect.

 

(c)           Termination.
  The Employment Period will continue for a term of two years from the date hereof, subject to automatic one-year renewals, unless
earlier terminated by the first to occur of (i) the Employee’s resignation or death, (ii) termination by the Company with
Cause, (iii) termination by the Company without cause; or (iv) written notice by one party to the other of intent not to renew,
received no later than 60 days prior to the expiration of the Agreement. If the Employee’s employment is terminated by the
Company without cause, then during the twelve month period commencing on the date of termination (the “Severance Period”),
the Company will pay the Employee severance at a rate equal to the Employee’s Annual Base Salary then in effect, payable
in equal installments on the Company’s regular salary dates (the “Severance Payments”), and the Employee
shall receive the same car allowance, and other benefits, if any, that the Employee was receiving at the time his employment terminated. 

 

2.           Confidential
Information.   The Employee acknowledges that the information and data obtained by him during the course of his performance under
this Agreement concerning the business and affairs of the Company and its Affiliates are the property of the Company, including
information concerning acquisition opportunities in or reasonably related to the Company’s business or industry of which
the Employee becomes aware during the Employment Period. Therefore, the Employee agrees that he will not disclose to any unauthorized
person outside the ordinary course of business or use for his own account any of such information or data without the Board’s
written consent, unless and to the extent that the aforementioned matters become generally known to and available for use by the
public other than as a result of the Employee’s acts or omissions to act. The Employee agrees to deliver to the Company at
the termination of his employment, or at any other time the Company may request in writing, all of the information and data specified
in the first sentence of this Section 7, including memoranda, notes, plans, records, reports and other documents (and copies thereof)
containing confidential information of the Company and its Affiliates which he may then possess or have under his control, and
which are then not otherwise generally known to and available for use by the public other than as a result of the Employee’s
acts or omissions to act.

 

3.           Assignment
of Rights.   The Employee will have no proprietary interest in the software, artwork, reports, or any other work product which
the Employee develops during the course of the Employee’s employment, and the Employee agrees that such work product is work
made for hire and that the Company shall have all proprietary rights in it, including all patent, copyright and trade secret rights
inherent therein and appurtenant thereto. By this Agreement the Employee assigns and agrees to assign to the Company and the Company’s
successors, assigns or nominees all of the Employee’s right, title and interest in the Employee’s work product and
any developments, designs, inventions, improvements, trade secrets, trademarks, algorithms, computer routines, programs, copyrightable
subject matter or proprietary information which you have made or conceived, or may make or conceive, either by the Employee or
with others while providing services to the Company or with the use of the Company’s materials or facilities or relating
to any of the Company’s actual or anticipated business, research, development, product, service or activity, or suggested
by or resulting from any task assigned to the Employee or work performed by the Employee for or on the Company’s behalf.
The Employee further agrees to execute and deliver all such further papers as may be necessary, including original applications
and applications for

 

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renewal, extensions or reissues or patents, trademark registrations
or copyright registrations, in any and all countries, to vest title for such items in the Company and its successors, assigns or
nominees.

 

4.           Non-Competition;
Non-Solicitation.   The Employee agrees that during the Employee’s employment and for twelve months following the termination
of the Employee’s employment for any reason, the Employee will not, directly or indirectly, as an officer, director, employee,
stockholder, partner, or consultant, become associated with any other company, firm, business or person engaged in a business competitive
with the Company which operates in the same geographic areas as the Company. Employee further agrees that during the Employee’s
employment and for twelve months following the termination of the Employee’s employment for any reason, the Employee will
not, directly or indirectly, solicit or accept any business or employment from any customers of the Company with whom the Employee
had direct contact within the twelve months before termination of the Employee’s employment. The Employee further agrees
that during your employment and for twelve months following the termination of your employment for any reason, the Employee will
not, directly or indirectly, solicit or hire for employment (as employees, contractors, consultants, etc.) with any company or
firm, any of the Company’s employees, consultants, subcontractors or other agents.

 

4.           Definitions.

 

“Affiliate” of any particular
person or entity means any other person or entity controlling, controlled by or under common control with such particular person
or entity.

 

“Cause” means (i) the commission
of a felony or a crime involving moral turpitude, (ii) conduct which brings the Company or any of its Subsidiaries into substantial
public disgrace or disrepute, or (iii) substantial and repeated material failure to perform duties of the office held by the Employee
as reasonably directed by the Board, and such failure is not cured within 30 days after the Employee receives notice thereof from
the Board.

 

5.           Notices.
  Any notice provided for in this Agreement must be in writing and must be either personally delivered, sent by first class mail
(postage prepaid and return receipt requested), or sent by reputable overnight courier service (charges prepaid) to the recipient
at the addresses set forth below, or at such address or to the attention of such other Person as the recipient party has specified
by prior written notice to the sending party. Notices will be deemed to have been given hereunder when delivered personally, three
days after deposit in the U.S. mail, and one day after deposit with a reputable overnight courier service.

  

If to the Company:

 

Corporate Resource Services, Inc.

160 Broadway

New York, NY 10038

Attention: John Messina

 

or to such other address or to the attention of such other person
as the recipient party has specified by prior written notice to the sending party.

 

6.           Choice
of Law.  All questions concerning the construction, validity and interpretation of this Agreement will be governed by and construed
in accordance with the internal laws of the State of New York.

 

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7.           Amendment
and Waiver.   This Agreement sets forth the entire understanding of the parties. The provisions of this Agreement may be amended
and waived only with the prior written consent of the Company and the Employee.

 

8.           Arbitration.  
Any dispute between the parties, other than a claim for injunctive relief, which shall be brought in the state or federal courts
in New York County, shall be decided by arbitration held before a single arbitrator for the American Arbitration Association, under
the then existing Commercial Arbitration Rules of that Association. Where permitted pursuant to such rules, such arbitration shall
be governed by the Association's expedited arbitration procedures. The arbitration shall be held at the offices of the American
Arbitration Association in New York, New York. The arbitrator shall have plenary authority to issue decisions and awards as provided
by the law of the State of New York or the applicable federal law. The arbitrator shall issue a written decision on all claims
presented and shall determine a prevailing party and a losing party with respect to the arbitration and shall award costs and attorneys’
fees to the prevailing party.

 

9.           Public Statements; Nondisparagement.   Employee shall not make any public statements or disclosures regarding the terms of Employee’s
employment with the Company or its Affiliates, this Agreement or the termination of Employee’s employment (for any reason
whatsoever) which are not pre-approved in writing by the Company. Further, Employee shall not make, at any time during or after
Employee’s employment with the Company or its Affiliates, any public statement that would libel, slander, disparage, denigrate
or criticize the Company or its Affiliates, their customers or any of their respective past or present officers, directors, employees
or agents. Notwithstanding this Section, nothing contained herein shall limit or impair the ability of any party to provide truthful
testimony in response to any validly issued subpoena.

 

10.         Section
409(a).   This Agreement shall be interpreted and applied in all circumstances in a manner that is consistent with the intent
of the parties that, to the extent applicable, amounts earned and payable pursuant to this Agreement shall constitute short-term
deferrals exempt from the application of Section 26 USC § 409A (“Section 409A”) and, if not exempt, that amounts
earned and payable pursuant to this Agreement shall not be subject to the premature income recognition or adverse tax provisions
of Section 409A. Any payments to be made under this Agreement upon a termination of employment shall only be made if such termination
of employment constitutes a "separation from service" under Section 409A. Notwithstanding the foregoing, CRS makes no
representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall CRS
be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Employee on account
of non-compliance with Section 409A.

 

10.         Execution.
  This Agreement may be executed (including by facsimile or scanned electronic mail transmission) in counterparts, each of which
shall be deemed to be an original and all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Executive Employment Agreement as of the date first written above.

 

	Employee:	 	Corporate Resource Services, Inc.	 
	 	 	 	 
	/s/ Joseph P. Ciavarella	 	/s/ John P. Messina, Sr.	 
	Joseph P. Ciavarella	 	By: John P. Messina, Sr.	 
	 	 	Title: Chief Executive Officer	 

 

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