IEEE P802.3cg established a new pair of Ethernet physical layer devices (PHY), one of which, the short-reach 10BASE-T1S, uses 4B/5B mapping over Differential Manchester Encoding to maintain a data rate of 10 Mb/s at MAC/PLS interface, while providing in-band signaling between transmitter and receivers. However, 10BASE-T1S does not have any error correcting capability built into it. As a response to emerging building, industrial, and transportation requirements, this paper outlines research that leads to the possibility of establishing low-complexity, backward-compatible Forward Error Correction with per-frame configurable guaranteed burst error and erasure correcting capabilities over any 10BASE-T1S Ethernet network segment. The proposed technique combines a specialized, systematic Reed-Solomon code and a novel, three-tier, technique to avoid the appearance of certain inadmissible codeword symbols at the output of the encoder. In this way, the proposed technique enables error and erasure correction, while maintaining backwards compatibility with the current version of the standard.