Document:

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                                                                   EXHIBIT 10.26

                             IRREVOCABLE UNDERTAKING

To:      Transworld Healthcare (UK) Limited (the "COMPANY")
         Stone Business Park
         Brooms Road, Stone
         Staffordshire ST15 0TL

         Transworld Healthcare Inc.
         555 Madison Avenue
         New York, NY 10022

         Triumph Partners III, L.P.
         28 State Street
         37th Floor
         Boston, MA 02109

                                                                  April 22, 2002

Dear Sirs,

1.   UNDERTAKING

     I, the undersigned, upon issue to me of 684,258 shares of common stock of
     Transworld Healthcare Inc., hereby irrevocably and unconditionally
     undertake not to exercise any rights attaching, now or in the future
     (including any rights in respect of voting, conversion, transfer or
     otherwise), to the redeemable shares of 0.01p each in the capital of the
     Company held by me (the "REDEEMABLE SHARES") until such time as any offer
     is made by the Company to purchase or redeem such Redeemable Shares at
     their nominal value (the "OFFER") and in such event, I hereby agree that I
     will accept the Offer and will exercise such rights in order to comply with
     the terms of the Offer. For the avoidance of doubt, if the Offer is made
     but the related purchase or redemption is not completed for any reason, I
     hereby irrevocably and unconditionally undertake not to exercise any rights
     attaching, now or in the future (including any rights in respect of voting,
     conversion, transfer or otherwise), to the Redeemable Shares.

2.   GOVERNING LAW AND SUBMISSION TO JURISDICTION

     This undertaking (and any dispute, controversy, proceedings or claim of
     whatever nature arising out of or in any way relating to this undertaking
     or its formation) shall be governed by and construed in accordance with
     English law.

                                      -1-
<PAGE>

                                                                   EXHIBIT 10.26

Signed as a deed            )
by TIMOTHY AITKEN           )     /s/ Timothy Aitken
in the presence of          )

Witness Name: GRAHAM NEWTON       /s/ Graham Newton

Address: 59 BOTTELS ROAD
         WARBOYS
         CAMBS
         PEZB LRZ
         England

     [Signature page to Irrevocable Undertaking delivered by Timothy Aitken]

                                      -2-<PAGE>

                                                                   EXHIBIT 10.27

                             IRREVOCABLE UNDERTAKING

To:      Transworld Healthcare (UK) Limited (the "COMPANY")
         Stone Business Park
         Brooms Road, Stone
         Staffordshire ST15 0TL

         Transworld Healthcare Inc.
         555 Madison Avenue
         New York, NY 10022

         Triumph Partners III, L.P.
         28 State Street
         37th Floor
         Boston, MA 02109

                                                                  April 22, 2002

Dear Sirs,

1.   UNDERTAKING

     I, the undersigned, upon issue to me of 487,099 shares of common stock of
     Transworld Healthcare Inc., hereby irrevocably and unconditionally
     undertake not to exercise any rights attaching, now or in the future
     (including any rights in respect of voting, conversion, transfer or
     otherwise), to the redeemable shares of 0.01p each in the capital of the
     Company held by me (the "REDEEMABLE SHARES") until such time as any offer
     is made by the Company to purchase or redeem such Redeemable Shares at
     their nominal value (the "OFFER") and in such event, I hereby agree that I
     will accept the Offer and will exercise such rights in order to comply with
     the terms of the Offer. For the avoidance of doubt, if the Offer is made
     but the related purchase or redemption is not completed for any reason, I
     hereby irrevocably and unconditionally undertake not to exercise any rights
     attaching, now or in the future (including any rights in respect of voting,
     conversion, transfer or otherwise), to the Redeemable Shares.

2.   GOVERNING LAW AND SUBMISSION TO JURISDICTION

     This undertaking (and any dispute, controversy, proceedings or claim of
     whatever nature arising out of or in any way relating to this undertaking
     or its formation) shall be governed by and construed in accordance with
     English law.

                                      -1-
<PAGE>

                                                                   EXHIBIT 10.27

Signed as a deed                   )
by SARAH EAMES                     )    /s/  Sarah L. Eames
in the presence of                 )

Witness Name: /s/ Scott Eames

Address: 5 Westwood Ct.
         Harrison NY 10528

      [Signature page to Irrevocable Undertaking delivered by Sarah Eames]

                                       -2-<PAGE>

                                                                   EXHIBIT 10.28

                            STOCK PURCHASE AGREEMENT

         This Stock Purchase Agreement (this "Agreement") is made as of this
22nd day of April, 2002 by and between Transworld Healthcare, Inc., a New York
corporation (the "Company"), and Triumph Partners III, L.P. and Triumph III
Investors, L.P. (together, "Triumph"), and Hyperion TWH Fund II LLC, a Delaware
limited liability company ("Hyperion," and Triumph and Hyperion each an
"Investor" and, collectively, the "Investors").

         THE PARTIES HEREBY AGREE AS FOLLOWS:

         1. Purchase and Sale of Shares.

              1.1 Sale and Issuance of Shares. Subject to the terms and
         conditions of this Agreement, at the Closing (as hereinafter defined),
         the Investors agree to purchase and the Company agrees to sell and
         issue to the Investors an aggregate of 750,000 shares (the "Shares") of
         common stock, par value $.01 per share, of the Company (the "Common
         Stock") at a price of $4.25 per Share, for an aggregate purchase price
         of $3,187,500 divided between the Investors as set forth on Schedule I
         hereto.

              1.2 Closing. The purchase and sale of the Shares shall take place
         at the offices of Brown Raysman Millstein Felder & Steiner LLP, 900
         Third Avenue, New York, New York 10022, on the date of the satisfaction
         of the conditions set forth in Sections 4 and 5, or at such other time
         and place as the Company and the Investors mutually agree upon orally
         or in writing (which time and place are designated as the "Closing").
         At the Closing, in addition to satisfying the other conditions set
         forth herein, the Company shall deliver to the Investors one or more
         certificates representing the Shares, against delivery to the Company
         by the Investors of wire transfers in the aggregate amount of
         $3,187,500.

         2. Representations and Warranties of the Company. The Company hereby
represents and warrants to, and agrees with, the Investors that:

              2.1 Organization, Good Standing and Qualification. The Company is
         a corporation duly organized, validly existing and in good standing
         under the laws of the State of New York. The Company has all requisite
         power and authority to own, lease, license and use its properties and
         assets and to carry on its business as now conducted and as proposed to
         be conducted. The Company has all requisite power and authority to
         enter into and perform this Agreement and the transactions contemplated
         hereby.

              2.2 Authorization. All corporate action on the part of the Company
         and its officers, directors and shareholders necessary for the
         authorization, execution and delivery of this Agreement, the
         performance of all obligations of the Company hereunder and the
         authorization, sale, issuance and delivery of the Shares has been
         taken. This Agreement constitutes the valid and legally binding
         obligation of the Company, enforceable in accordance with its terms,
         except (i) as enforceability may be limited by applicable bankruptcy,
         insolvency, reorganization, moratorium and other laws of general
         application affecting enforcement of creditors' rights generally, and
         (ii) as enforceability

<PAGE>

         may be limited by laws relating to the availability of specific
         performance, injunctive relief or other equitable remedies.

              2.3 Valid Issuance of Shares.

              (a) The Shares, when issued, sold and delivered in accordance with
         the terms hereof and for the consideration expressed herein, (i) will
         be duly and validly issued and fully paid and nonassessable, (ii) will
         be free of any pledges, liens, security interests, claims or other
         encumbrances of any kind, (iii) will be issued in compliance with all
         applicable federal and state securities laws, and (iv) will not be
         issued in violation of any preemptive rights of shareholders. The
         Shares have been duly and validly reserved for issuance.

              (b) The outstanding shares of Common Stock are all duly and
         validly authorized and issued, fully paid and nonassessable, and were
         issued in compliance with all applicable federal and state securities
         laws.

              2.4 Governmental Consents. No consent, approval, order or
         authorization of, or registration, qualification, designation,
         declaration or filing with, any federal, state or local governmental
         authority on the part of the Company or any of its subsidiaries is
         required in connection with the consummation of the transactions
         contemplated by this Agreement.

              2.5 Compliance with Other Instruments. The execution, delivery and
         performance of this Agreement and the consummation of the transactions
         contemplated hereby will not result in a violation of, or be in
         conflict with, or constitute, with or without the passage of time or
         the giving of notice or both, a default under, any provision of the
         Company's certificate of incorporation, as amended, or bylaws, as
         amended, or any judgment, order, writ or decree, or any contract,
         agreement or instrument, or require any consent, waiver or approval
         thereunder, or give rise to a right to terminate or accelerate the
         performance required thereby, or constitute an event which results in
         the creation of any lien, charge or encumbrance upon any asset of the
         Company. The execution, delivery and performance of this Agreement, and
         the consummation of the transactions contemplated hereby, will not
         constitute a "change of control" under any agreement or contract or
         give rise to any right to receive severance or similar payments.

              2.6 Registration Rights Agreement. The Shares being acquired by
         Hyperion hereunder shall be treated as "Registrable Shares" for
         purposes of the Registration Rights Agreement entered into between the
         Company and Hyperion Partners II L.P. in 1996 and Hyperion shall be
         entitled to the benefits thereof. At the Closing, the Company will
         enter into a Registration Rights Agreement with Triumph with respect to
         the Shares (the "Registration Rights Agreement") in substantially the
         form attached as Exhibit A hereto .

         3. Representations and Warranties of each Investor. Each Investor
hereby represents and warrants to the Company, solely with respect to itself,
that:

              3.1 Authorization. Such Investor has all requisite power and
         authority to enter into this Agreement. This Agreement has been duly
         executed and delivered and

                                        2
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         constitutes the Investor's valid and legally binding obligation,
         enforceable in accordance with its terms, except (i) as enforceability
         may be limited by applicable bankruptcy, insolvency, reorganization,
         moratorium and other laws of general application affecting enforcement
         of creditors' rights generally and (ii) as enforceability may be
         limited by laws relating to the availability of specific performance,
         injunctive relief or other equitable remedies.

              3.2 Purchase Entirely for Own Account. The Shares to be purchased
         by such Investor will be acquired for investment for its own account,
         and, except as contemplated by the Registration Rights Agreement or
         otherwise in accordance with applicable securities laws, not with a
         view to the resale or distribution of any part thereof and without the
         present intention of selling, granting any participation in, or
         otherwise distributing the same.

              3.3 Investment Experience. Such Investor can bear the economic
         risk of its investment and has such knowledge and experience in
         financial or business matters that it is capable of evaluating the
         merits and risks of the investment in the Shares.

              3.4 Restricted Securities. Such Investor understands that the
         Shares it is purchasing are characterized as "restricted securities"
         under the federal securities laws inasmuch as they are being acquired
         from the Company in a transaction not involving a public offering and
         that under such laws and applicable regulations such securities may be
         resold without registration under the Act, only in certain limited
         circumstances. In this connection, such Investor represents that it is
         familiar with Rule 144 of the Securities and Exchange Commission, as
         presently in effect, and understands the resale limitations imposed
         thereby and by the Act.

              3.5 Legends. Such Investor understands that the certificates
         evidencing the Shares will bear the following legend:

                   "THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
              THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE
              SECURITIES LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN
              MAY BE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN
              EXEMPTION THEREFROM UNDER SUCH ACT OR SUCH LAWS AND THE RULES AND
              REGULATIONS THEREUNDER."

              The Shares shall not be required to bear such legend if an opinion
         of counsel reasonably satisfactory to the Company is delivered to the
         Company to the effect that neither the legend nor the restrictions on
         transfer contained in this Agreement are required to insure compliance
         with the Act. Whenever, pursuant to the preceding sentence, any
         certificate for any of the Shares is no longer required to bear the
         foregoing legend, the Company may, and if requested by the holder
         thereof, shall, issue to the holder, at the Company's expense, a new
         certificate not bearing the foregoing legend.

         4. Conditions to each Investor's Obligations at Closing. The
obligations of each Investor under this Agreement are subject to the fulfillment
on or before the Closing of each of the following conditions:

                                       3
<PAGE>

              4.1 Representations and Warranties. The representations and
         warranties of the Company contained in Section 2 shall be true in all
         material respects on and as of the Closing with the same effect as
         though such representations and warranties had been made on and as of
         the Closing.

              4.2 Performance. The Company shall have performed and complied
         with all agreements, covenants, obligations and conditions contained in
         this Agreement in all material respects that are required to be
         performed or complied with by it on or before the Closing.

              4.3 Compliance Certificate. The President or Chief Executive
         Officer of the Company shall deliver to each Investor at the Closing a
         certificate certifying that the conditions specified in Sections 4.1,
         4.2, 4.4, 4.5 and 4.8 have been fulfilled.

              4.4 Qualifications; Litigation. All authorizations, approvals or
         permits, if any, of any governmental authority or regulatory body that
         are required in connection with the lawful issuance and sale of the
         Shares pursuant to this Agreement shall be duly obtained and effective
         as of the Closing. There shall not have been instituted or threatened
         any legal proceeding relating to, or seeking to prohibit or otherwise
         challenge, this Agreement or the consummation of the transactions
         contemplated by this Agreement, or seeking to obtain substantial
         damages with respect thereto.

              4.5 Consents. All consents and waivers that are required in
         connection with the Closing under this Agreement, and the consummation
         of the transactions contemplated hereby, shall be duly obtained and
         effective as of the Closing.

              4.6 Proceedings and Documents. All corporate and other proceedings
         in connection with the transactions contemplated at the Closing shall
         have taken place and all documents incident thereto shall have been
         prepared and executed, and each Investor shall have received all such
         counterpart original and certified or other copies of such documents.

              4.7 Opinion of Company Counsel. Brown Raysman Millstein Felder &
         Steiner LLP, counsel for the Company, shall have delivered an opinion
         which is addressed to each Investor, dated as of the Closing, as to the
         matters referred to in Sections 2.1, 2.2 and 2.3(a).

              4.8 Related Documents. The Investors shall have received executed
         copies of (i) the Tax Bonus, Tax Loan and Tax Indemnification Agreement
         between Transworld Healthcare (UK) Limited ("TWUK"), the Company and
         Timothy Aitken, (ii) the Tax Bonus, Tax Loan and Tax Indemnification
         Agreement between Transworld Healthcare (UK) Limited, the Company and
         Sarah Eames, (iii) the Irrevocable Undertaking by Mr. Aitken to TWUK,
         the Company and Triumph Partners III, L.P., (iv) the Irrevocable
         Undertaking by Ms. Eames to TWUK, the Company and Triumph Partners III,
         L.P., (v) the Promissory Note in the principal amount of $550,000 from
         Mr. Aitken to TWUK, (vi) the Promissory Note in the principal amount of
         $390,000 from Ms. Eames to TWUK, (vii) the Pledge and Security
         Agreement between Mr. Aitken and TWUK, (viii) the

                                       4
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         Pledge and Security Agreement between Ms. Eames and TWUK, and (ix) the
         Registration Rights Agreement (collectively, the "Related Documents").

         5. Conditions to the Company's Obligations at the Closing. The
obligations of the Company to the Investors under Section 1 of this Agreement
are subject to the fulfillment on or before the Closing of the following
conditions, any of which may be waived by the Company:

              5.1 Representations and Warranties. The representations and
         warranties of each Investor contained in Section 3 shall be true in all
         material respects on and as of the Closing with the same effect as
         though such representations and warranties had been made on and as of
         the date of the Closing.

              5.2 Payment of Purchase Price. Each Investor shall have delivered
         the purchase price specified in Section 1.2 and Schedule I hereto.

              5.3 Performance. Each Investor shall have performed and complied
         with all agreements, covenants, obligations and conditions contained in
         this Agreement in all material respects that are required to be
         performed or complied with by it on or before the Closing.

              5.4 Qualifications; Litigation. All authorizations, approvals or
         permits, if any, of any governmental authority or regulatory body that
         are required in connection with the lawful issuance and sale of the
         Shares pursuant to this Agreement shall be duly obtained and effective
         as of the Closing. There shall not have been instituted or threatened
         any legal proceeding relating to, or seeking to prohibit or otherwise
         challenge, this Agreement or the consummation of the transactions
         contemplated by this Agreement, or seeking to obtain substantial
         damages with respect thereto.

              5.5 Related Documents. The Company shall have received, in form
         and substance reasonably satisfactory to the Company, duly executed
         copies of the Related Documents.

              5.6 Consents. All consents and waivers that are required in
         connection with the Closing under this Agreement, and the consummation
         of the transactions contemplated hereby, shall be duly obtained and
         effective as of the Closing.

         6. Covenants of the Company. The Company covenants and agrees with each
Investor as follows:

              6.1 Advice of Changes. The Company will promptly advise each
         Investor in writing of any event occurring subsequent to the date of
         this Agreement which would render any representation or warranty of the
         Company contained in this Agreement, if made on or as of the date of
         such event or the date of the Closing, untrue or inaccurate in any
         material respect.

              6.2 Listing Application. The Company shall prepare and file with
         the American Stock Exchange an Additional Listing Application, in the
         form and within the

                                       5
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         time period prescribed by the American Stock Exchange, with respect to
         the listing of the Shares.

              6.3 Use of Proceeds. The Company shall use the purchase price set
         forth in Section 1.1 for the purposes described in the Related
         Documents.

         7. Indemnification. The Company agrees to indemnify each Investor and
its general partner or managing member, and each officer, director, employee,
partner, agent and affiliate of such Investor and its general partner or
managing member (the "Indemnified Parties") for, and hold each Indemnified Party
harmless from and against: (i) any and all damages, losses, claims and other
liabilities of any and every kind, including, without limitation, judgments and
costs of settlement, and (ii) any and all out-of-pocket costs and expenses of
any and every kind, including, without limitation, reasonable fees and
disbursements of one counsel for such Indemnified Parties (selected jointly by
the Investors) (all of which expenses periodically shall be reimbursed as
incurred), in each case, arising out of or suffered or incurred in connection
with (A) any investigative, administrative or judicial proceeding or claim
brought or threatened relating to or arising out of the Investor's purchase of
the Shares, or this Agreement and the Registration Rights Agreement or the
transactions contemplated hereby and thereby, (B) any material inaccuracy or
alleged inaccuracy in any representation or warranty of the Company made in this
Agreement or any material breach or alleged breach by the Company of any
covenant or agreement made in this Agreement or the Registration Rights
Agreement or (C) any Indemnified Party exercising its rights to indemnification
under this Section 7 against the Company.

         8. Termination.

              8.1 Termination Prior to Closing. This Agreement may be terminated
         at any time prior to the Closing:

              (a) by the mutual consent of the Investors and the Company; or

              (b) by the Investors, if there has been a material
         misrepresentation or material breach on the part of the Company in any
         of the representations, warranties, covenants or agreements of the
         Company set forth herein, or if there has been any material failure on
         the part of the Company to comply with its obligations hereunder, after
         written notice from either of the Investors to the Company and the
         Company having 30 days thereafter in which to cure, or by the Company
         if there has been a material misrepresentation or material breach on
         the part of either Investor in any of the representations, warranties,
         covenants or agreements of either Investor set forth herein, or if
         there has been any material failure on the part of either Investor to
         comply with its obligations hereunder, after written notice from the
         Company to the Investors and the Investors having 30 days thereafter in
         which to cure.

              8.2 Liability Upon Termination.

              (a) In the event of termination of this Agreement pursuant to
         Section 8.1(a), no party hereto shall have any liability or further
         obligation to any other party hereto except as provided in Sections 7,
         9.7 and 9.8.

                                       6
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              (b) In the event of termination pursuant to Section 8.1(b), (i) if
         any Investor is the non-breaching party, such Investor shall be
         entitled to reimbursement of expenses as set in Section 9.8 and (ii)
         the non-breaching party shall have the right to pursue all rights and
         remedies available to it hereunder or otherwise provided at law or
         equity, including without limitation, the right to seek specific
         performance and money damages.

         9. Miscellaneous.

              9.1 Survival of Warranties. The warranties, representations,
         covenants and agreements of the Company and the Investors contained in
         or made pursuant to this Agreement shall survive the execution and
         delivery of this Agreement and the Closing. Neither any investigation
         by or on behalf of the Investors, nor the receipt by the Investors of
         any data or information from the Company, shall in any way affect the
         right of the Investors to rely on the representations, warranties,
         covenants and agreements of the Company or the right of the Investors
         to terminate this Agreement as provided in Section 8.

              9.2 Successors and Assigns. Each Investor and each assignee of
         each Investor may, without the consent of the Company, assign its
         rights under this Agreement, in whole or in part, in connection with
         any sale or transfer to an affiliate or a partner, and the terms and
         conditions of this Agreement shall inure to the benefit of and be
         binding upon the respective successors and assigns of the parties.
         Nothing in this Agreement, express or implied, is intended to confer
         upon any party other than the parties hereto or their respective
         successors and assigns any rights, remedies, obligations or liabilities
         under or by reason of this Agreement, except as expressly provided in
         this Agreement.

              9.3 Governing Law. This Agreement shall be governed by and
         construed under the laws of the State of New York as applied to
         agreements among New York residents entered into and to be performed
         entirely within New York.

              9.4 Counterparts. This Agreement may be executed in two or more
         counterparts, each of which shall be deemed an original, but all of
         which together shall constitute one and the same instrument.

              9.5 Titles and Subtitles. The titles and subtitles used in this
         Agreement are used for convenience only and are not to be considered in
         construing or interpreting this Agreement.

              9.6 Notices. Unless otherwise provided, any notice required or
         permitted under this Agreement shall be given in writing and shall be
         deemed effectively given upon receipt by the party to be notified or
         five days after deposit with the United States Post office, by
         registered or certified mail, postage prepaid and addressed to the
         party to be notified (i) if to the Company, at the following address:

                                       7
<PAGE>

                         555 Madison Avenue, 30th Floor
                         New York, New York 10022
                         Attn: Mr. John B. Wynne
                         Telecopy No.: (212) 750-7221

                         with a copy to:

                         Brown Raysman Millstein Felder & Steiner
                         LLP
                         900 Third Avenue
                         New York, New York 10022
                         Attn: Leslie J. Levinson, Esq.
                         Telecopy No.: (212) 894-2900

         (ii) if to Triumph, at the following address:

                         28 State Street, 37th Floor
                         Boston, Massachusetts 02109
                         Attn: Mr. Frederick S. Moseley IV
                         Telecopy No.: (617) 557-6014

                         with a copy to:

                         Goodwin Procter LLP
                         Exchange Place
                         53 State Street
                         Boston, Massachusetts 02109
                         Attn: Ettore A. Santucci, Esq.
                         Telecopy No.: (617) 523-1231

         (ii) if to Hyperion, at the following address:

                         50 Charles Lindbergh Parkway
                         Uniondale, New York 11553
                         Attn: Mr. Scott Shay
                         Telecopy No.: (516) 745-6787

                         with a copy to:

                         Proskauer Rose LLP
                         1585 Broadway
                         New York, New York 10036
                         Attn: Bruce Lieb, Esq.
                         Telecopy No.: (212) 969-3000

         or at such other address as any of the parties may designate by 10
         days' advance written notice to the other parties.

              9.7 No Finder's Fee. Each party represents that it is not, and
         will not be, obligated for any finder's fee or commission in connection
         with this transaction.

                                       8
<PAGE>

              Each Investor agrees to indemnify and hold harmless the Company
         from any liability for any commission or compensation in the nature of
         a finder's fee (and the costs and expenses of defending against such
         liability or asserted liability) for which such Investor or any of its
         officers, employees or representatives is responsible.

              The Company agrees to indemnify and hold harmless each Investor
         from any liability for any commission or compensation in the nature of
         a finder's fee (and the costs and expenses of defending against such
         liability or asserted liability) for which the Company or any of their
         respective officers, employees or representatives is responsible.

              9.8 Expenses. The Company agrees to pay all out-of-pocket fees and
         reasonable expenses incurred by the Investors in connection with this
         Agreement and the transactions contemplated hereby (whether or not the
         transactions contemplated hereby are consummated) including, without
         limitation, the reasonable fees and expenses of counsel for the
         Investors incurred in connection with this Agreement and the
         transactions contemplated hereby (including, without limitation, any
         legal fees and expenses relating to any future waiver, consent or
         amendment, whether or not any such future action is given or
         consummated).

              9.9 Amendments and Waivers. Any term of this Agreement may be
         amended and the observance of any term of this Agreement may be waived
         (either generally or in a particular instance and either retroactively
         or prospectively), only with the written consent of the Investors and
         the Company.

              9.10 Severability. If one or more provisions of this Agreement are
         held to be unenforceable under applicable law, such provision shall be
         excluded from this Agreement and the balance of this Agreement shall be
         interpreted as if such provision were so excluded and shall be
         enforceable in accordance with its terms.

              9.11 Entire Agreement. This Agreement constitutes the entire
         agreement between the parties hereto with respect to the subject matter
         hereof.

              9.12 Equitable Adjustments. Prior to the consummation of the
         Closing, all number of Shares referred to herein shall be equitably
         adjusted to account for stock splits, stock dividends, mergers and
         similar corporate events.

                                  [END OF TEXT]

                                        9
<PAGE>

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

                                       "COMPANY"

                                       TRANSWORLD HEALTHCARE, INC.

                                       By: /s/ John B. Wynne
                                           ------------------------------------
                                           Name:  John B. Wynne
                                           Title: Vice President and Chief
                                                  Financial Officer

                                       "THE INVESTORS"

                                       TRIUMPH PARTNERS III, L.P.

                                       By: Triumph III Advisors, L.P.,
                                           its General Partner

                                       By: /s/ Frederick S. Moseley IV
                                           ------------------------------------
                                           Name:  Frederick S. Moseley IV
                                           Title: President

                                       TRIUMPH III INVESTORS, L.P.

                                       By: Triumph III Investors, Inc.,
                                           its General Partner

                                       By: /s/ Frederick S. Moseley IV
                                           -------------------------------------
                                           Name:  Frederick S. Moseley IV
                                           Title: President

                                       10
<PAGE>

                                       HYPERION TWH FUND II LLC

                                       By: /s/ Scott A. Shay
                                           -------------------------------------
                                           Name:  Scott A. Shay
                                           Title: a Managing Member

                                       11
<PAGE>

                                   Schedule I
                                   ----------

    Name of Investor                  Number of Shares          Purchase Price
    ----------------                  ----------------          --------------

Triumph Partners III, L.P.                 370,500                 $1,574,625

Triumph III Investors, L.P.                  4,500                    $19,125

Hyperion TWH Fund II LLC                   375,000                 $1,593,750

           TOTAL                           750,000                 $3,187,500

                                       12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}]]