Document:

Comprehensive Associates LLC Warrant 4

    THIS
      CONVERTIBLE DEBENTURE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION
      HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
      (THE “ACT”),
      OR APPLICABLE STATE SECURITIES LAWS AND NO INTEREST THEREIN MAY BE SOLD,
      TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS (1) A REGISTRATION STATEMENT WITH
      RESPECT TO SUCH SECURITIES SHALL BE EFFECTIVE UNDER THE ACT AND ANY APPLICABLE
      STATE SECURITIES LAWS OR (2) SUCH SECURITIES ARE TRANSFERRED PURSUANT TO RULE
      144 PROMULGATED UNDER THE ACT (OR ANY SUCCESSOR RULE) OR (3) COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC. SHALL HAVE RECEIVED AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO IT THAT NO VIOLATION OF THE ACT WILL BE INVOLVED IN SUCH
      TRANSFER. 

    

    COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC.

    

    CONVERTIBLE
      DEBENTURE

    

    $200,000

    

    August
      3, 2005

    

    The
      undersigned, COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC.,
      a
      Delaware corporation (the “Company”),
      with
      offices at 45 Ludlow Street, Suite 602, Yonkers, New York 10705, promises to
      pay
      to the order of COMPREHENSIVE
      ASSOCIATES LLC,
      a New
      York limited liability company (together with its successors and assigns, the
      “Holder”),
      on
      December 31, 2006 (the “Maturity
      Date”),
      at
      the offices of the Holder located at 64 Shelter Lane, Roslyn, New York 11577,
      or
      at such other place as the Holder may designate to the Company, in writing,
      the
      principal amount of TWO
      HUNDRED THOUSAND DOLLARS
      ($200,000),
      together with interest thereon at the rate of six percent (6.0%)
      per
      annum from the date hereof.

     

    SECTION
      1. PAYMENT OF PRINCIPAL AND INTEREST.

     

    Unless
      earlier converted in accordance with the terms of Section 2 below
      or redeemed and prepaid in accordance with the terms of Section 3 below,
      the entire outstanding principal amount of this Debenture, together with any
      accrued interest thereon (the “Outstanding
      Amount”),
      shall
      be due and payable on the Maturity Date, in cash. 

     

    SECTION
      2. CONVERSION.

     

    (a)  Conversion
      Right.

     

    (i)  At
      any
      time after the date hereof, and from time to time until this Debenture is paid
      in full, the Holder may, in its sole discretion, convert all or any portion
      of
      the Outstanding Amount (the “Conversion
      Right”)
      into
      such number of shares (the “Conversion
      Shares”)
      of
      common stock of the Company, par value $.10 per share (“Common
      Stock”),
      that
      shall be obtained by dividing the portion of the Outstanding Amount to be
      converted by thirty-five cents ($0.35), subject to adjustment as provided below
      in this Section 2 (the “Conversion
      Price”).
      

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (ii)  The
      Holder shall be entitled to exercise the Conversion Right from time to time
      as
      to the Outstanding Amount upon written notice to the Company (the “Conversion
      Notice”),
      which
      notice shall be in the form attached hereto as Annex I.
      The
      date upon which the conversion shall be effective (the “Conversion
      Date”)
      will
      be the date specified in the Conversion Notice. The Holder will be deemed the
      record holder of the Conversion Shares on the Conversion Date whether or not
      the
      Company or its transfer agent is then open for business. Within one (1) day
      of
      the Conversion Date, the Company shall issue appropriate stock certificates
      to
      the Holder (or such other person or entity designated by the Holder)
      representing the aggregate number of Conversion Shares due to the Holder as
      a
      result of such conversion.
      The
      Company shall take all other necessary or appropriate actions in connection
      with
      or to effect such conversion.

     

    (iii)  The
      Company shall, at all times, reserve and keep available out of its authorized
      capital stock, solely for the purposes of issuance upon conversion of this
      Debenture, such number of its shares of Common Stock as shall be issuable upon
      the conversion of this Debenture; and if at any time the number of authorized
      shares of Common Stock shall not be sufficient to effect the conversion of
      this
      Debenture, the Company will take such corporate action as may be necessary
      to
      increase its authorized but unissued shares of Common Stock to such number
      of
      shares as shall be sufficient for such purpose; the Company shall have analogous
      obligations with respect to any other securities or property issuable upon
      conversion of this Debenture. As long as this Debenture shall be outstanding,
      the Company shall use its best efforts to cause all the shares of Common Stock
      issuable upon conversion of this Debenture to be listed and/or quoted on all
      securities exchanges and/or Nasdaq or other medium on which such shares may
      then
      be listed.

     

    (b)  Below
      Conversion Price Issuance; Stock Dividends, Etc.

     

    (i)  Sale
      of Shares Below Conversion
      Price.

     

    (A)  If
      at any
      time or from time to time after the
      date
      hereof
      the Company issues or sells shares of Common Stock or Common Stock Equivalents
      (as hereinafter defined) (other than as a dividend or other distribution on
      any
      class of stock as provided in Section 2(b)(ii)
      below,
      or
      a subdivision or combination of shares as provided in Section 2(b)(iii)
      below)
      for an Effective
      Price (as hereinafter defined) that is less than the Conversion
      Price then in effect, then, and in each such case, the then existing
Conversion
      Price shall be reduced, as of the opening of business on the date of
such
      issue or sale,
      to the
      Effective Price. For purposes hereof, 

     

    (I)  a
      “Common
      Stock Equivalent”
shall
      mean each share of Common Stock into which securities or property or rights
      are
      convertible, exchangeable or exercisable for or into shares of Common Stock,
      or
      otherwise entitle the holder thereof to receive, directly or indirectly, any
      of
      the foregoing (provided
      that the
      Conversion Price shall be adjusted to reflect any termination of such
      instruments prior to the exercise of the Conversion Right); and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    (II)  the
      “Effective
      Price”
of
      

    

    (A)  a
      Common
      Stock Equivalent shall mean the sum of (x) the fair market value of the
      consideration paid for such security plus (y) the fair market value of the
      minimum consideration, if any, to be paid for the conversion, exercise or
      exchange of such security for or into each share of Common Stock, in each case
      on a per share of Common Stock basis (provided
      that the
      Conversion Price shall be adjusted to reflect adjustments to the Effective
      Price
      based upon any change in such minimum consideration to be paid prior to the
      exercise of the Conversion Right); and 

    

    (B)  a
      share
      of Common Stock issued by the Company (other than upon the conversion, exercise
      or exchange of Common Stock Equivalents) shall be the fair market value of
      the
      consideration paid for such share of Common Stock.

    (B)  Consideration
      Received for Securities.
      For the
      purpose of making any adjustment required under this Section 2(b)(i),
      the
      consideration received by the Company for any issue or sale of securities shall
      (x) to
      the
      extent it consists of cash, be computed at the gross amount of cash received
      by
      the Company prior to deduction of any underwriting or similar commissions,
      compensation or concessions paid or allowed by the Company in connection with
      such
      issue or sale and
      without deduction of any expenses payable by the Company, and
      (y) to
      the
      extent it consists of property other than cash, be computed at the fair market
      value of that property as determined, in good faith, by the Board of Directors,
      and if
      additional
      shares of Common Stock and/or Common Stock Equivalents
      are
      issued or sold together with other stock or securities or other assets of the
      Company for a consideration which covers both, be computed as the portion of
      the
      consideration so received that may be reasonably determined, in good faith,
      by
      the Board of Directors to be allocable to such additional shares of Common
      Stock
and/or
      Common Stock Equivalents, which determination shall be subject to the approval
      of the
      Holder; provided
      that, in
      the event the Holder does not agree with the Company’s determination of the
      value of such consideration, the parties shall mutually agree upon and appoint
      an appraiser, which shall be commissioned to investigate the value of the
      property to be distributed and shall submit a notice of an appraisal of that
      value to the Company and to the
      Holder within thirty (30) days of such commission. The appraiser shall be
      instructed to determine such value without regard to income tax consequences
      to
      the recipient as a result of receiving consideration other than cash. The value
      determined by the appraiser shall be conclusive. The expense of the appraisal
      process shall be borne by the Company. 

     

    (ii)  Adjustment
      for Common Stock Dividends and Distributions.
      If, at
      any time after the date hereof, the Company makes, or fixes a record date for
      the determination of holders of Common Stock entitled to receive, a dividend
      or
      other distribution payable in additional shares of Common Stock or Common Stock
      Equivalents, in each such event, the Conversion
      Price that is then in effect shall be decreased as of the time of such issuance
      or, in the 

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

       

      event
        such record date is fixed, as of the
        close
        of business on such record date,
        by
        multiplying the Conversion
        Price then in effect by a fraction (A) the
        numerator of which is the total number of shares of Common Stock and Common
        Stock Equivalents issued and outstanding immediately prior to the time of
        such
        issuance or the
        close
        of business on such record date,
        and
(B) the
        denominator of which is the total number of shares of Common Stock and Common
        Stock Equivalents issued and outstanding immediately prior to the time of
        such
        issuance or the
        close
        of business on such record date plus
        the
        number of shares of Common Stock or Common Stock Equivalents issuable in
        payment
        of such dividend or distribution; provided,
        however,
        that if
        such record date is fixed and such dividend is not fully paid or if such
        distribution is not fully made on the date fixed therefor, the Conversion
        Price shall be recomputed accordingly as of the
        close
        of business on such record date and
        thereafter the Conversion
        Price shall be adjusted pursuant to this Section 2(b)(ii) to reflect the
        actual payment of such dividend or distribution.

    

     

    (iii)  Adjustments
      for Stock Splits, Stock Subdivisions and Combinations.
      If, at
      any time after the date hereof, the Company subdivides or combines the Common
      Stock, (A) in
      the
      case of a subdivision (including a stock split), the Conversion
      Price in effect immediately
      prior to such event
      shall be proportionately decreased and the number of shares of Common Stock
      issuable hereunder shall be proportionately increased, and (B) in
      the
      case of a combination (including a reverse stock split), the Conversion
      Price in effect immediately
      prior to such event
      shall be proportionately increased and the number of shares of Common Stock
      issuable hereunder shall be proportionately decreased. Any adjustment under
      this
      Section 2(b)(iii)
      shall
      become effective at the
      close
      of business on the date the
      subdivision or combination becomes effective.

     

    (iv)  Adjustments
      for Reclassification, Reorganization, Merger, Consolidation and
      Sale.
      In case
      of (A) any
      reclassification, reorganization, change or conversion of securities of the
      Common Stock (other than a change in par value, or from par value to no par
      value) into other shares or securities of the Company, or (B) any
      merger or consolidation of the Company with or into another entity (other than
      a
      merger or consolidation with another entity in which the Company is the
      acquiring and the surviving entity and that does not result in any
      reclassification or change of the Common Stock),
      or
(C) any
      sale
      of all or substantially all the assets of the Company, the
      Holder shall have the right to receive, in lieu of the shares of Common Stock
      into
      which this Debenture is convertible, the kind and amount of shares of stock
      and
      other securities, money and property receivable upon such reclassification,
      reorganization, change, merger, consolidation or sale upon conversion by the
      Holder of the maximum number of shares of Common Stock into which this Debenture
      could
      have been converted immediately
      prior to such reclassification,
      reorganization, change, merger, consolidation or sale, all subject to further
      adjustment as provided herein or with respect to such other securities or
      property by the terms thereof. The provisions of this clause (iv)
      shall
      similarly attach to successive reclassifications, reorganizations, changes,
      mergers, consolidations and sales.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c)  Other
      Distributions.
      In
      the
      event the Company provides the holders of its Common Stock with consideration
      that is not otherwise addressed in this Section 2
      (including,
      without limitation, declaring a distribution payable in securities, assets,
      cash
      or evidences of indebtedness issued by other persons or the Company (excluding
      cash dividends declared and paid by the Company out of retained earnings),
      then,
      in each such case, the
      Holder shall be entitled to a pro rata
      share of
      any such distribution as though the Holder was a holder of the number of shares
      of Common Stock of the Company issuable upon the conversion of this Debenture
      in
      whole as of the record date fixed for the determination of the holders of Common
      Stock of the Company entitled to receive such distribution.

     

    (d)  Recapitalizations.
      If at
      any time there occurs a recapitalization of the Common Stock (other than a
      subdivision, combination, merger, consolidation or sale of assets provided
      for
      in this Section 2),
      the
      Holder shall
      be
      entitled to receive upon conversion of this Debenture the
      number of shares of capital stock or other securities or property of the Company
      or otherwise, to which a holder of the Common Stock deliverable upon conversion
      would have been entitled on such recapitalization. In any such case, appropriate
      adjustment shall be made in the application of the provisions of this Section
      2
      with
      respect to the rights of the Holder after
      the
      recapitalization to the end that the provisions of this Section 2
      (including
      adjustment of the Conversion
      Price then in effect and the number of shares issuable upon conversion of this
      Debenture)
      shall
      be applicable after that event as nearly equivalent as may be
      practicable.

     

    (e)  No
      Impairment.
      The
      Company shall not, by amendment of its Certificate of Incorporation or By-laws
      or through any reorganization, recapitalization, transfer of assets,
      consolidation, merger, dissolution, issue or sale of securities or any other
      voluntary action, avoid or seek to avoid the observance or performance of any
      of
      the terms to be observed or performed hereunder by the Company, but will at
      all
      times in good faith assist in the carrying out of all the provisions of this
      Section 2 and in the taking of all such action as may be necessary or
      appropriate in order to protect the rights of the Holder against
      impairment.

     

    (f)  Notice
      of Adjustments.
      Whenever there shall be any change pursuant to this Section 2, the Company
      shall
      prepare a certificate setting forth, in reasonable detail, the event requiring
      the change and the kind and amount of shares of stock and other securities,
      money and property subsequently issuable upon a conversion hereof. Such
      certificate shall be signed by its chief financial officer and shall be
      delivered to the Holder or such other person as the Holder or any successor
      notice recipient may designate.

     

    (g)  Fractional
      Shares; Rounding.
      No
      fractional shares of Common Stock will be issued in connection with any
      conversion hereunder, but in lieu of such fractional shares, the number of
      shares of Common Stock to be received by the Holder upon conversion shall
be
      rounded up to the nearest whole share.
      All
      calculations under this Section 2 shall be made to the nearest cent or to
      the nearest one-hundredth of a share, as the case may be.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (h)  Registration
      Rights.
      Pursuant to a Registration Rights Agreement of even date between the Company
      and
      the Holder, the Holder has been granted certain registration rights with respect
      to the resale of the Conversion Shares. 

     

     

    SECTION
      3. REDEMPTION.

     

    The
      Company may, at its option, elect to redeem and prepay all or any portion of
      the
      outstanding principal of this Debenture, provided that all accrued interest
      thereon is paid simultaneously with the principal payment redeemed and prepaid.
      The redemption price shall be one hundred ten percent (110%) of the principal
      amount of the Debenture redeemed, plus accrued interest thereon. Any such
      election to redeem and prepay this Debenture shall be exercised by providing
      written notice thereof to the Holder (the “Redemption
      Notice”)
      not
      less than thirty (30) days prior to the date fixed in such notice as the date
      for redemption (the “Redemption
      Date”).
      The
      Redemption Notice shall indicate the principal amount to be redeemed and
      prepaid. Notwithstanding the foregoing, (a) the Holder may exercise its
      Conversion Right pursuant to Section 2 hereof at any time prior to the
      Redemption Date, (b) no Redemption Notice may be sent unless and until a
      registration statement covering the resale of the Conversion Shares (the
“Registration
      Statement”)
      has
      been filed with the Securities and Exchange Commission and such Registration
      Statement is current and effective and (c) the Company shall not be permitted
      to
      redeem and prepay any portion of the outstanding principal amount of this
      Debenture if the Registration Statement is not current and effective on the
      Redemption Date.

     

    SECTION
      4. EVENTS OF DEFAULT.

     

    The
      occurrence of any of the following events shall constitute an event of default
      (an “Event
      of Default”):

    

    (a)  a
      default
      in the payment of any portion of the principal amount of this Debenture, when
      and as the same shall become due and payable, whether on the Maturity Date,
      the
      Redemption Date or otherwise;

     

    (b)  a
      default
      in the payment of any accrued and unpaid interest on this Debenture, when and
      as
      the same shall become due and payable;

     

    (c)  a
      breach
      by the Company of any of its representations and warranties or other obligations
      under this Debenture and the failure to cure such breach within ten (10) days
      after written notice thereof by the Holder;

     

    (d)  the
      failure by the Company at ay time to reserve and keep available out of its
      authorized stock, solely for the purposes of issuance upon conversion of this
      Debenture, such number of its shares of Common Stock as shall be issuable upon
      the conversion of this Debenture;

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (e)  the
      failure by the Company to timely file any report pursuant to the Securities
      Exchange Act of 1934, as amended;

     

    (f)  at
      any
      time after the nine (9) month anniversary of the date hereof, the Registration
      Statement is not effective and current;

     

    (g)  the
      Company’s Common Stock is not listed on either the OTC Bulletin Board, Nasdaq or
      a national securities exchange;

     

    (h)  John
      Treglia is no longer serving as Chief Executive Officer of the
      Company;

     

    (i)  Paul
      Rothman is no longer serving as President of the Company;

     

    (j)  a
      distress, execution, sequestration or other process is levied or enforced upon
      the Company or sued out against, in each case, a material part of its property
      which is not discharged or challenged within sixty (60) days;

     

    (k)  the
      Company is unable to generally pay its debts as they mature or become due
      ;

     

    (l)  the
      Company ceases wholly or substantially to carry on its business or dissolves;
      

     

    (m)  the
      Company shall make a general assignment for the benefit of creditors, or shall
      admit in writing its general inability to pay, or shall generally fail to pay,
      its debts as they mature or become due, or shall petition or apply
      for the
      appointment of a trustee or other custodian, liquidator or receiver of the
      Company or of any substantial part of the assets of the Company, or shall
      commence any case or other proceeding relating to the Company under any
      bankruptcy, reorganization, arrangement, insolvency, readjustment of debt,
      dissolution or liquidation or similar law of any jurisdiction, now or hereafter
      in effect, or shall take any action to authorize or in furtherance of any of
      the
      foregoing, or if any such petition or application shall be filed or any such
      case or other proceeding shall be commenced against the Company; or

     

    (n)  a
      decree
      or
      order is
      entered appointing any such trustee, custodian, liquidator or receiver or
adjudicating the
      Company
      bankrupt or insolvent, or approving a petition in any such case or other
      proceeding, or a decree or order for relief is entered in respect of the Company
      in an involuntary case under federal bankruptcy laws as now or hereafter
      constituted.

     

    SECTION
      5. REMEDIES IN THE EVENT OF DEFAULT.

     

    (a)  In
      the
      case of an Event of Default, the Holder may in its sole discretion demand that
      the Outstanding Amount shall be and become immediately due and payable in cash
      whereupon the same shall become immediately due and payable. 

    

    (b)  The
      Company hereby waives demand and presentment for payment, notice of nonpayment,
      protest and notice of protest, diligence, filing suit, and all other notices
      

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    (c) Should
      the indebtedness represented by this Debenture or any part thereof be collected
      at law or in equity, or in bankruptcy, receivership or any other court
      proceedings (whether at the trial or appellate level), or should this Debenture
      be placed in the hands of any agent or attorneys for collection upon default
      or
      maturity, the Company agrees to pay, in addition to all other amounts due and
      payable hereunder, all costs and expenses of collection or attempting to collect
      this Debenture, including reasonable attorneys’ fees.

    

    (d)  In
      the
      case of an Event of Default, this Debenture shall bear interest after such
      default at an interest rate of sixteen percent (16%) per annum.

    

    SECTION
      6. REPRESENTATIONS AND WARRANTIES. 

     

    The
      Company represents and warrants to the Holder as follows:

     

    (a)  The
      Company has all requisite corporate power and authority to authorize and execute
      this Debenture and the certificates evidencing the Conversion Shares and to
      perform all obligations and undertakings under this Debenture; 

     

    (b)  This
      Debenture has been duly authorized and executed by the Company and is a valid
      and binding obligation of the Company enforceable in accordance with its
      terms;

     

    (c)  The
      Conversion Shares have been duly authorized and reserved for issuance by the
      Company and, when issued in accordance with the terms hereof, will be validly
      issued, fully paid and nonassessable; and

     

    (d)  Neither
      execution and delivery of this Debenture, nor the issuance of the Conversion
      Shares upon the conversion of this Debenture in accordance with the terms
      hereof, will be inconsistent with the Company’s Certificate of Incorporation or
      By-laws, as amended, and do not and will not constitute a default under any
      indenture, mortgage, contract or other instrument, judgment, decree or order
      to
      which the Company is a party or by which it is bound.

     

    SECTION
      7. COVENANTS OF THE COMPANY.

     

    (a)  The
      Company shall not incur any indebtedness for money borrowed which shall rank
      senior to this Debenture as to priority of payment. 

     

    (b)  The
      Company agrees that it will not sell, or enter into any agreement to sell,
      shares of its Common Stock or any Common Stock Equivalents without the prior
      consent of the Holder, which consent shall not be unreasonably withheld. Any
      consent given by the Holder shall not impair or otherwise affect the Holder’s
      rights under Section 2 hereof, including, without limitation, the anti-dilution
      adjustments provided for therein.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SECTION
      8. MISCELLANEOUS.

     

    (a)  This
      Debenture and all of the provisions hereof shall be binding upon and inure
      to
      the benefit of the Company, the Holder and their respective successors and
      assigns. All or any part of this Debenture may be assigned or transferred by
      the
      Holder and its assigns and transferees.

    

    (b)  All
      notices, demands and requests of any kind to be delivered to any party in
      connection with this Debenture shall be in writing and shall be deemed to have
      been duly given if personally or hand delivered or if sent by a recognized
      overnight delivery courier or by registered or certified mail, return receipt
      requested and postage prepaid, or by facsimile transmission addressed as
      follows:

     

    (i)  if
      to the
      Company, to:

     

    Comprehensive
      Healthcare Solutions, Inc.

    45
      Ludlow
      Street, Suite 602

    Yonkers,
      New York 10705

    Attention:
      John H. Treglia, Chairman of the Board & Chief Executive
      Officer

    Facsimile:
      (914) 375-3696

    

    with
      a
      copy to:

    

    Anslow
      & Jaclin, LLP

    195
      Route
      9, Suite 204

    Manalapan,
      New Jersey 07726

    Attention:
      Gregg E. Jaclin, Esq.

    Facsimile:
      (732) 577-1188

     

    (ii)   
if
      to the
      Holder, to:

    Comprehensive
      Associates LLC

    64
      Shelter Lane

    Roslyn,
      New York 11577

    Attention:
      Robyn Schreiber

    Facsimile:
      (516) 621-9172

    

    with
      a
      copy to:

    

    Certilman
      Balin Adler & Hyman, LLP

    90
      Merrick Avenue, 9th Floor

    East
      Meadow, New York 11554

    Attention:
      Fred Skolnik, Esq.

    Facsimile:
      (516) 296-7111

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    or
      to
      such other address as the party to whom notice is to be given may have furnished
      to the other party hereto in writing in accordance with provisions of this
      Section 8. Any such notice or communication shall be deemed to have been
      effectively given (i) in the case of personal or hand delivery, on the date
      of such delivery, (ii) in the case of a recognized overnight delivery
      courier, on the business day after the date when sent, (iii) in the case of
      mailing, on the third business day following that day on which the piece of
      mail
      containing such communication is posted and (iv) in the case of facsimile
      transmission, on the date of transmission.

    

    (c)  This
      Debenture represents the entire agreement between the parties hereto with
      respect to the subject matter thereof. This Debenture may not be modified or
      amended, or any of the provisions hereof waived, except by written agreement
      of
      the Company and the Holder.

    

    (d)  This
      Debenture shall be governed by and construed in accordance with the internal
      laws of the State of New York, without giving effect to principles of conflicts
      of laws. 

    

    (e)  The
      invalidity of any of the provisions of this Debenture shall not invalidate
      or
      otherwise affect any of the other provisions of this Debenture, which shall
      remain in full force and effect. 

    

    (f)  Notwithstanding
      anything to the contrary contained in this Debenture, the rate of interest
      payable on this Debenture shall never exceed the maximum rate of interest
      permitted under applicable law.

    

    (g)  The
      Company acknowledges and agrees that the obligations under this Debenture are
      unconditional and are not subject to any defense, counterclaim or right of
      offset or setoff.

    

    (h)  All
      payments made under this Debenture shall be made by electronic funds wire
      transfer in accordance with the wire transfer instructions submitted by the
      Holder as the first payment method option; however, the Holder may designate
      that payments may be made by bank or certified check, at the offices of the
      Holder set forth herein or such other place as the Holder shall designate in
      writing to the Company.

    

    (i)  The
      Company covenants to the Holder that upon receipt of a description of
      circumstances reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Debenture and, in the case of any such loss,
      theft or destruction, upon receipt of an indemnity reasonably satisfactory
      to
      the Company, or in the case of any such mutilation upon surrender and
      cancellation of such Debenture, the Company will make and deliver a new
      Debenture, of like tenor, in lieu of the lost, stolen, destroyed or mutilated
      Debenture .

    

    (j)  The
      descriptive headings of the several sections and paragraphs contained in this
      Debenture are for reference purposes only and shall not affect in anyway the
      meaning or interpretation of this Debenture .

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    (k)  The
      Company acknowledges that it has been represented by counsel in connection
      with
      this Debenture. Accordingly, any rule or law or any legal decision that would
      require the interpretation of any claimed ambiguities in this Debenture against
      the party that drafted it has no application and is expressly waived by the
      Company. The provisions of this Debenture shall be interpreted in a reasonable
      manner to give effect to the intent of the parties hereto.

    

    {Remainder
      of page intentionally left blank. Signature page
      follows.}

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the
      Company has executed and delivered this Debenture on the date first above
      written.

    

    

    COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC.

    

     

    By:
      ________________________________________

    John
      Treglia, 

    Chairman
      of the Board & Chief Executive Officer 

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ANNEX
      I

    

    

    FORM
      OF CONVERSION NOTICE

    

    

    

    

    To:
      Comprehensive Healthcare Solutions, Inc. 

    

    

    The
      undersigned owner of this Convertible Debenture hereby exercises the option
      to
      convert this Debenture, or the portion hereof below designated, into shares
      of
      Common Stock of Comprehensive Healthcare Solutions, Inc. in accordance with
      the
      terms of this Debenture and directs that the shares issuable and deliverable
      upon the conversion be issued and delivered to the registered holder hereof
      or
      its designee as indicated below.

    

    

    Dated:
      _________________________________   

    

     

    

    

    By: 
      _________________________________________       

    

    Address:_____________________________________      

    

     

    

    Taxpayer
      Identification No.: ______________________

    

    Amount
      to
      be Converted: $                                                    
           

    

    Effective
      Date of Conversion:______________________   

     

    Name
      in
      which Shares

    are
      to be
      Issued: _______________________________Comprehensive Associates LLC Warrant 5

    CONSULTING
      AGREEMENT,
      dated
      as of August 3, 2005 (the “Effective
      Date”),
      by
      and between COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC.,
      a
      Delaware corporation (the “Company”),
      and
COMPREHENSIVE
      ASSOCIATES LLC,
      a New
      York limited liability company (the “Consultant”).

    

    WHEREAS,
      the
      Company desires to engage the Consultant and the Consultant desires to be
      engaged by the Company upon the terms and conditions set forth herein.

    

    NOW
      THEREFORE,
      for
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, and the covenants and agreements set forth herein, the parties
      agree as follows:

    

    1.  Retention;
      Duties.
      Subject
      to the terms and conditions set forth herein, the Company hereby retains the
      Consultant, and the Consultant hereby accepts such retention, to act as a
      consultant with respect to the Company’s business and operations. The Consultant
      shall provide such services as shall be reasonably requested by the President
      or
      Chief Executive Officer of the Company. The Consultant shall devote such time,
      in its discretion, during regular business hours, as shall be necessary to
      perform such requested services, but in no event shall the Consultant be
      required to devote more than five (5) hours per week in performing such
      services. The Consultant may provide such services in person or by telephone
      from any location which is convenient to it. The Company acknowledges that
      the
      services of the Consultant hereunder are not full-time and that the Consultant
      shall have the right to provide services for other persons and entities during
      the Consulting Term (as hereinafter defined).

     

    2.  Term.

     

    (a)  The
      term
      of this Agreement (the “Consulting
      Term”)
      shall
      commence as of the Effective Date, and subject to Section 2(b) below, shall
      continue until the first anniversary of the Effective Date.

     

    (b)  Notwithstanding
      Section 2(a) above, the Company shall have the right to immediately terminate
      this Agreement at any time upon written notice to the Consultant. However,
      notwithstanding any such termination of this Agreement by the Company, the
      Consultant shall be entitled to retain the compensation provided for herein.
      

     

    3.  Compensation. 

     

    (a)  In
      consideration for the Consultant’s agreement to provide services hereunder,
      simultaneously herewith, the Company is issuing to the Consultant warrants
      for
      the purchase of an aggregate of five million (5,000,000) shares of the Company’s
      common stock (the “Warrants”),
      which
      Warrants shall
      be
      exercisable for a period of five (5) years commencing on the date of issuance
      and shall provide for the following exercise prices, subject to adjustment
      as
      provided for in the Warrants:

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

     

    
      	
              Warrant
                Shares

            	
              Exercise
                Price

            
	
               

            	
               

            
	
              500,000

            	
              $0.35
                per share

            
	
              500,000

            	
              $0.40
                per share

            
	
              2,000,000

            	
              $0.50
                per share

            
	
              1,000,000

            	
              $0.60
                per share

            
	
              1,000,000

            	
              $0.70
                per share

            

    

    

     

    (b)  The
      Company acknowledges and agrees that the Warrants are fully earned upon the
      execution hereof and the right to exercise the Warrants shall not be subject
      to
      any claim by the Company that the Consultant did not provide sufficient
      services, or improperly provided the services, provided for in Section 1
      hereof.

     

    4.  Independent
      Contractor.
      The
      relationship created hereunder is that of the Consultant acting as an
      independent contractor. It is expressly acknowledged and agreed that the
      Consultant shall have no authority to bind the Company to any agreement or
      obligation with any third party. 

     

    5.  Representations
      and Warranties of the Consultant.
      The
      Consultant hereby represents and warrants to the Company as
      follows:

     

    (a)  It
      has
      the power to execute and deliver this Agreement and to perform the duties and
      responsibilities contemplated hereby.

     

    (b)  Neither
      the execution of this Agreement nor its performance hereunder will (i) violate,
      conflict with or result in a breach of any provisions of, or constitute a
      default (or an event which, with notice or lapse of time or both, would
      constitute a default) under the terms, conditions or provisions of any contract,
      agreement, understanding, or other instrument or obligation to which it is
      a
      party, or by which it may be bound, or (ii) violate any order, judgment, writ,
      injunction, decree or award against or binding upon it.

     

    6.  Representations
      and Warranties of the Company.
      The
      Company hereby represents and warrants to the Consultant as
      follows:

    

    (a)  It
      is a
      corporation duly organized, validly existing and in good standing under the
      laws
      of Delaware.

     

    (b)  It
      has
      full corporate power and authority to execute and deliver this Agreement and
      to
      perform the duties and responsibilities contemplated hereby.

     

    (c)  The
      execution, delivery and performance of this Agreement has been duly authorized
      by its Board of Directors and no other corporate approvals are
      necessary.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (d)  Neither
      the execution of this Agreement nor its performance hereunder will (i) violate,
      conflict with or result in a breach of any provisions of, or constitute a
      default (or an event which, with notice or lapse of time or both, would
      constitute a default) under the terms, conditions or provisions of its
      Certificate of Incorporation or By-Laws or any contract, agreement,
      understanding or other instrument or obligation to which it is a party, or
      by
      which it may be bound, or (ii) violate any order, judgment, writ, injunction,
      decree or award against or binding upon it.

     

    7.  Notices.
      Any
      notice or other communication or delivery required or permitted to be given
      or
      made pursuant to any of the provisions of this Agreement shall be in writing
      and
      shall be deemed to have been duly given or made for all purposes when delivered
      by hand or sent by certified or registered mail (return receipt requested and
      postage prepaid), facsimile transmission or overnight mail or courier, addressed
      as follows: 

    
 

    
      
        	
                If
                  to the Company:

              	
                Comprehensive
                  Healthcare Solutions, Inc.

              
	
                 

              	
                45
                  Ludlow
                  Street, Suite 602

              
	
                 

              	
                Yonkers,
                  New York 10705

              
	
                 

              	
                Attention:
                  John H. Treglia,

              
	
                 

              	
                Chairman
                  of the Board & Chief Executive Officer

              
	
                 

              	
                Facsimile:
                  (914) 375-3696

              
	
                 

              	
                 

              
	
                with
                  a copy to:

              	
                Anslow
                  & Jaclin, LLP

              
	
                 

              	
                195
                  Route 9, Suite 204

              
	
                 

              	
                Manalapan,
                  New Jersey 07726

              
	
                 

              	
                Attention:
                  Gregg E. Jaclin, Esq.

              
	
                 

              	
                Facsimile:
                  (732) 577-1188

              
	
                 

              	
                 

              
	
                If
                  to the Consultant:

              	
                Comprehensive
                  Associates LLC

              
	
                 

              	
                64
                  Shelter Lane

              
	
                 

              	
                Roslyn,
                  New York 11577

              
	
                 

              	
                Attention:
                  Robyn Schreiber

              
	
                 

              	
                Facsimile:
                  (516) 621-9172

              
	
                 

              	
                 

              
	
                with
                  a copy to:

              	
                Certilman
                  Balin Adler & Hyman, LLP

              
	
                 

              	
                90
                  Merrick Avenue, 9th Floor

              
	
                 

              	
                East
                  Meadow, New York 11554

              
	
                 

              	
                Attention:
                  Fred Skolnik, Esq.

              
	
                 

              	
                Facsimile:
                  (516) 296-7111

              

      

    

     

    or
      at
      such other address as any party shall designate by notice to the other party
      given in accordance with this Section 7. 

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.  Governing
      Law.
      This
      Agreement shall be construed, and the legal relations between the parties hereto
      determined, in accordance with the laws of the State of New York, excluding
      choice of law principles thereof. 

     

    9.  Waiver.
      The
      waiver by either of a breach of any provision of this Agreement shall not
      operate or be construed as a waiver of any subsequent breach. 

     

    10.  Entire
      Agreement.
      This
      Agreement sets forth the entire agreement of the parties with respect to the
      subject matter hereof and supersedes all prior agreements, understandings,
      negotiations and discussions, whether written or oral, of the parties relating
      thereto. 

     

    11.  Amendment.
      Neither
      this Agreement nor any term or provision hereof may be changed, waived,
      discharged, or terminated orally, or in any manner other than by an instrument
      in writing signed by the party against whom the enforcement of the change,
      waiver, discharge, or termination is sought. 

     

    12.  Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the respective
      parties, and their successors and assigns. 

     

    13.  Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original but all of which together shall constitute one and
      the
      same investment.

     

    14.  Severability.
      If any
      provision, or part thereof, of this Agreement shall be held to be invalid or
      unenforceable, such invalidity or unenforceability shall attach only to such
      provision and not in any way affect or render invalid or unenforceable any
      other
      provisions of this Agreement, and this Agreement shall be carried out as if
      such
      invalid or unenforceable provision, or part thereof, had been reformed, and
      any
      court of competent jurisdiction is authorized to so reform such invalid or
      unenforceable provision, or part thereof, so that it would be valid, legal
      and
      enforceable to the fullest extent permitted by applicable law.

     

    15.  Headings.
      The
      headings or captions in this Agreement are for convenience of reference only
      and
      do not in any way modify, interpret or construe the intent of the parties or
      affect any of the provisions of this Agreement. 

     

    16.  Representation
      by Counsel; Interpretation.
      Each
      party acknowledges that it has been represented by counsel in connection with
      this Agreement and the transactions contemplated hereby. Accordingly, any rule
      or law or any legal decision that would require the interpretation of any
      claimed ambiguities in this Agreement against the party that drafted it has
      no
      application and is expressly waived by the parties. The provisions of this
      Agreement shall be interpreted in a reasonable manner to give effect to the
      intent of the parties hereto.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    17.  Facsimile
      Signatures. Signatures hereon which are
      transmitted via facsimile shall be deemed original signatures.

     

    

     

    {Remainder
      of page intentionally left blank. Signature page to
      follow.}

     

    

     

    
      
        
          

        

         

      

      
         

        
          

        

      

      
         

        
          

        

      

    

    IN
      WITNESS WHEREOF,
      the
      Consultant and the Company have executed this Agreement as of the day and year
      above written. 

     

    

    

    COMPREHENSIVE
      HEALTHCARE SOLUTIONS, INC.

    

    

    By:
      _____________________________________

       
      John Treglia, 

            Chairman
      of the Board
& Chief Executive Officer 

    

     

    COMPREHENSIVE
      ASSOCIATES LLC

     

    By:
      The
      Nybor Group, Inc., Managing Member

    

    

    By:_________________________________

    Robyn
      Schreiber, President

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