Document:

<PAGE>

                                                                  EXHIBIT 10.22

              TAX BONUS, TAX LOAN AND TAX INDEMNIFICATION AGREEMENT

         This TAX BONUS, TAX LOAN AND TAX INDEMNIFICATION AGREEMENT (the
"Agreement") is dated as of April 22, 2002 by and among Transworld Healthcare
(UK) Limited, a limited company incorporated in England and Wales (the
"Company"), Transworld Healthcare, Inc. a New York corporation ("TWUS") and
Sarah L. Eames ("Employee").

                                    RECITALS

         WHEREAS, the Employee currently holds the number of redeemable shares
of 0.01 pence each in the capital of the Company (the "Redeemable Shares"), and
which are redeemable into ordinary shares of the Company of 5p each, set forth
on Schedule A hereto.

         WHEREAS, the Employee and the Company have entered into an Irrevocable
Undertaking regarding restrictions on exercising the Redeemable Shares until the
Company makes Employee an offer to purchase or redeem such Redeemable Shares.

         WHEREAS, the Employee desires to sell, and the Company desires to
purchase, all of Employee's Redeemable Shares to the Company at their nominal
value in accordance with Article 17 of the UK Charter.

         WHEREAS, the TWUS wishes (i) to pay Employee a cash bonus and (ii) to
make Employee a loan, and the Company wishes to indemnify Employee for certain
United States, New York State, and New York City (as applicable) income taxes,
in each case in connection with income taxes that become due as a result of the
Issuance (as defined below).

         WHEREAS, TWUS is issuing the number of shares of common stock, par
value $0.01 per share, of TWUS ("TWUS Common Stock") set forth on Schedule A
hereto to Employee as compensation simultaneous with the execution of this
Agreement (the "Issuance").

         WHEREAS, the parties hereto acknowledge that certain of the
indemnification obligations provided for in this Agreement are subject to the
approval of certain of the Company's existing lenders, as described in further
detail herein.

         NOW, THEREFORE, in consideration of the premises and of the respective
representations, warranties, covenants and agreements set forth herein, the
parties hereto hereby agree as follows:

         1. DEFINITIONS. As used in this Agreement, the following terms shall
have the following respective meanings:

         "Additional Loan Amount" has the meaning set forth in Section 6(a)
hereof.

         "AHG" means Allied Heathcare Group Limited.

         "Cash Bonus Amount" is the amount identified on Schedule A hereto.

<PAGE>

         "Closing" has the meaning set forth in Section 10 hereof.

         "Code" means the Internal Revenue Code of 1986, as amended.

         "Compensatory Issuance Income Amount" is the amount identified on
Schedule A hereto.

         "Corporate Group" means the Company, TWUS and AHG.

         "Excess Taxable Compensation Income" has the meaning set forth in
Section 6 hereto.

         "Final Determination" means a determination by an administrative agency
or judicial court with respect to which the time for appeal or further contest
has expired, or to which agreement or settlement with respect thereto has been
reached by Employee and such agency or court to an extent and in a manner
reasonably satisfactory to the Company.

         "Income Taxes" means income taxes imposed by the United States, New
York State, and, if applicable, New York City on Employee's Taxable Compensation
Income, together with the hospital insurance excise tax imposed by Code Section
3111(b).

         "Issuance" has the meaning set forth in the Recitals hereto.

         "Loan Amount" is the amount identified on Schedule A hereto.

         "Redeemable Shares" has the meaning set forth in the Recitals hereto.

         "Redeemable Share Amount" has the meaning set forth in Section 2
hereto.

         "Reportable Compensatory Issuance Income Amount" has the meaning set
forth in Section 5 hereto

         "Stock Purchase Agreement Closing" means the closing (including the
funding thereof) of the Stock Purchase Agreement by and among TWUS, Hyperion TWH
Fund II LLC, Triumph Partners III, L.P., and Triumph III Investors, L.P., dated
April 22, 2002 with respect to the purchase of an aggregate amount of $3,187,500
of TWUS Common Stock.

         "Taxable Compensation Income" means the aggregate amount of taxable
compensation income required to be included by Employee in Employee's gross
income for United States federal, New York State, and, if applicable, New York
City income tax purposes pursuant to Section 83(a) of the Code (and any
corresponding New York State and New York City income tax provisions) solely as
a result of Employee's receipt of TWUS Common Stock in the Issuance.

         "TWUS" has the meaning set forth in the Recitals hereto.

         "TWUS Common Stock" has the meaning set forth in the Recitals hereto.

         "UK Charter" means the articles of association of the Company.

                                       2
<PAGE>

         2. PURCHASE OF REDEEMABLE SHARES; RECEIPT OF CASH BONUS AND LOAN
AMOUNT. Subject to the terms and conditions of this Agreement, and in
particular, but not limited to, Section 6(b), and in reliance on the
representations, warranties and covenants set forth herein, the Company agrees
(subject to compliance with applicable laws) to purchase, and the Employee
agrees to sell, all of Employee's issued and outstanding Redeemable Shares at
their nominal value in accordance with Article 17 of the UK Charter.
Notwithstanding anything in the UK Charter or in any documentation governing the
Redeemable Shares to the contrary, the Employee shall sell [his/her] Redeemable
Shares by: (a) executing a stock transfer form duly transferring such Redeemable
Shares to the Company (b) surrendering the share certificates representing such
Redeemable Shares (or an indemnity for lost certificates in a form acceptable to
the Company) to the Company and (b) receiving from the Company (pound)294 (the
"Redeemable Share Amount"). Such sale shall occur when provided in Section
10(d).

         3. CASH PAYMENT BY COMPANY. At the Closing, TWUS will pay to Employee
cash in an amount equal to the sum of the Cash Bonus Amount plus the Loan
Amount. Employee shall execute and deliver to the TWUS a promissory note in the
form of Exhibit A attached hereto, in a principal amount equal to the Loan
Amount.

         4. PLEDGE AND SECURITY AGREEMENT. The Employee agrees to enter into a
pledge and security agreement in the form of Exhibit B, attached hereto (the
"Pledge Agreement"), pursuant to which the Employee will grant TWUS a security
interest in the Collateral (as defined in the Pledge Agreement) as specified
therein in order to secure the Employee's obligations under the promissory note
executed by the Employee pursuant to Section 3 of this Agreement.

         5. TAX TREATMENT; PREPARATION OF TAX RETURNS. All United States, state,
local and foreign tax returns filed after the date of this Agreement by any
member of the Corporate Group or Employee shall be prepared and filed on a basis
consistent with (i) the treatment of the receipt of the Cash Bonus Amount as
compensation income paid to Employee by TWUS, (ii) the treatment of the Issuance
as compensation income paid to Employee by TWUS in an amount equal to the (x)
product of the number of shares of TWUS Common Stock received in the Issuance
and (y) the average of the high and low trading prices of TWUS Common Stock as
reported on the American Stock Exchange on the date of issuance (the "Reportable
Compensatory Issuance Income Amount") for purposes of the Code and subject to
the provisions of Code Section 83, and (iii) the treatment of the Redeemable
Shares as non-qualified stock options. Without limiting the foregoing, Employee
shall include in Employee's United States federal, New York State, and, if
applicable, New York City gross income compensation income for 2002 an amount
equal to the Cash Bonus Amount plus the Reportable Compensatory Issuance Income
Amount. Each party covenants and agrees that it will not take or assert any
position on any tax return, report or otherwise which is inconsistent with the
positions stated in the preceding sentence; provided, however, that nothing
herein shall prevent or prohibit Employee or any member of the Corporate Group
from complying with applicable laws.

         6. INDEMNIFICATION FOR ADDITIONAL INCOME TAXES.

              (a) The parties agree that following a Final Determination that
         Employee must include Taxable Compensation Income in excess of the
         Compensatory Issuance Income Amount in gross income, (such excess
         amount, "Excess Taxable Compensation

                                       3
<PAGE>

         Income") the Company shall indemnify Employee for (i) 100% of any
         resulting increase in Income Taxes, (ii) interest, penalties and
         additions with respect to such increase, (iii) reasonable legal,
         accounting and similar fees and expenses incurred by Employee in
         connection with tax contests relating to any such increase in Income
         Taxes, and (iv) any United States, New York State, and, if applicable,
         New York City taxes payable by Employee as a result of payments
         pursuant to this Section 6; provided, however, that the Company shall
         forward to Employee any such amounts attributable to Excess Taxable
         Compensation Income due to the difference between the Compensatory
         Issuance Income Amount and the Reportable Compensatory Issuance Income
         Amount at least five days prior to the date Employee files the
         appropriate United States, New York State, and, if applicable, New York
         City tax returns, as contemplated in Section 5 in New York State, and
         if applicable New York City; and provided further, that the Company
         shall not be obligated to make any payments or loans under this Section
         6 in excess of $377,629 in the aggregate . Notwithstanding anything to
         the contrary contained in this Agreement, with respect to any amounts
         paid to Employee pursuant to this Section 6, an amount equal to 20% of
         the Excess Taxable Compensation Income shall be considered to be an
         additional Loan Amount, up to a maximum additional Loan Amount of
         $119,132 (the "Additional Loan Amount"). Accordingly, the Company shall
         not be required to forward to the Employee (or the relevant taxing
         authority) any such amounts unless and until the Employee has executed
         and delivered to the Company a promissory note in the form of Exhibit A
         in a principal amount equal to the Additional Loan Amount.

              (b) Notwithstanding anything to the contrary contained herein, the
         Company shall have no obligations or liabilities with respect to the
         purchase provisions of Section 2 and the indemnification provisions of
         Section 6(a) unless and until the Company has received the requisite
         consents pursuant to (i) that certain credit agreement originally dated
         December 17, 1999 made between, among others, Allied Healthcare Group
         Limited, certain of its subsidiaries as Borrowers and/or Guarantors and
         Barclays Bank PLC as agent and security agent, as amended, stated and
         restated from time to time, (ii) that certain credit agreement
         originally dated December 17, 1999 made between, among others, AHG,
         certain of its subsidiaries as Borrowers and/or Guarantors, BNP Paribas
         as agent and Barclays Bank PLC as security agent, as amended, stated
         and restated from time to time, and (iii) that certain intercreditor
         deed originally dated December 17, 1999 made between, among others, the
         parties to the agreements described in paragraphs (i) and (ii) above,
         as amended, stated and restated from time to time.

         7. INDEMNIFICATION BY EMPLOYEE; WITHHOLDING.

              (a) Employee shall indemnify and hold harmless each member of the
         Corporate Group to the extent that any such member is required by law
         to withhold any amount with respect to Employee's Taxable Compensation
         Income, Excess Taxable Compensation Income or any amount paid by the
         Company to Employee under this Agreement; provided that Employee's
         liability under this Section 7(a) shall not exceed the lesser of (i)
         the actual amount paid to Employee pursuant to Section 3 and Section 6
         hereof after subtracting any withholding by any member of the Corporate
         Group pursuant to Section 7(b) hereof, and (ii) the amount owed by
         Employee for Income Taxes after

                                       4
<PAGE>

         deducting the amounts thereof withheld by any member of the
         Corporate Group and the amount thereof actually paid by Employee.

              (b) The Company or any other member of the Corporate Group may
         withhold from any amount owed or to be paid to Employee under this
         Agreement any amount required by law to be withheld for taxes or
         otherwise, including, without limitation, as a result of the Issuance,
         or such greater amount as may be requested by Employee. Amounts
         withheld by the Company or any other member of the Corporate Group from
         any payment pursuant to Section 3 or Section 6 hereof shall be timely
         paid to the appropriate taxing authority, and such payments shall be
         treated as having been paid to Employee by the Company for purposes of
         this Agreement.

         8. COOPERATION AND EXCHANGE OF INFORMATION. Each party hereto agrees to
provide the other party hereto with such cooperation and information as such
other party shall reasonably request in connection with the preparation or
filing of any tax return or claim for tax refund not inconsistent with this
Agreement or in conducting any audit or other proceedings in respect of Income
Taxes or to carry out the provisions of this Agreement.

         9. REPRESENTATION BY EMPLOYEE. Employee hereby represents and warrants
that none of the transactions contemplated by this agreement will subject
Employee to any income tax in any jurisdiction other than the United States, New
York State, or New York City.

         10. THE CLOSING; DELIVERIES.

              (a) Upon the terms and subject to the conditions of this
         Agreement, the consummation of the transactions contemplated by this
         Agreement (the "Closing") shall take place at the offices of Brown
         Raysman Millstein Felder & Steiner LLP, 900 Third Avenue, New York, NY
         10022, on the date of the Stock Purchase Agreement Closing, unless
         another date and/or place is agreed in writing by each of the parties
         hereto.

              (b) At the Closing, TWUS shall deliver or cause to be delivered to
         the Employee (unless previously delivered), the following:

                   (i) a duly executed pledge and security agreement by and
              between TWUS and the Employee in the form attached hereto as
              Exhibit B; and

                   (ii) cash in the form of immediately available funds in an
              amount equal to the Cash Bonus Amount plus the Loan Amount.

              (c) Deliveries by the Employee. At the Closing, the Employee shall
         deliver to TWUS (unless previously delivered), the following:

                   (i) a duly executed promissory note from the Employee to TWUS
              in the form attached hereto as Exhibit A;

                   (ii) a pledge and security agreement by and between the
              Company and the Employee in the form attached hereto as Exhibit B
              that has been duly executed by the Employee and the affiliates of
              the Employee.

                                       5
<PAGE>

              (d) Notwithstanding the foregoing, but subject always to Section
         6(b), immediately following the receipt of necessary approval of the
         stockholders of the Company, the Employee and the Company shall
         complete the purchase and sale of the Redeemable Shares in accordance
         with Section 2. At such time, (i) the Company shall deliver or cause to
         be delivered to Employee cash in the form of immediately available
         funds in an amount equal to the Redeemable Share Amount, and (ii) the
         Employee shall deliver to the Company a duly executed stock transfer
         form transferring the Redeemable Shares to the Company, and the share
         certificates representing such Redeemable Shares (or an indemnity for
         lost certificates in a form acceptable to the Company).

         11. GENERAL PROVISIONS.

              (a) FURTHER ASSURANCES. Each party hereto shall cooperate
         reasonably with the other parties, and execute and deliver, or use its
         reasonable best efforts to cause to be executed and delivered, all
         instruments, including instruments of conveyance, assignment and
         transfer, and to make all filings with, and to obtain all consents,
         approvals or authorizations of, any governmental or regulatory
         authority or any other person under any permit, license, agreement,
         indenture or other instrument, and take all such other actions as such
         party may reasonably be requested to take by any other party hereto
         from time to time, consistent with the terms of this Agreement, in
         order to effectuate the provisions and purposes of this Agreement.

              (b) ENTIRE AGREEMENT. This Agreement, the promissory note
         delivered by the Employee at Closing, and the pledge and security
         agreement delivered at Closing shall constitute the entire agreement
         between the parties hereto with respect to the subject matter hereof,
         superseding all previous negotiations, commitments and writings with
         respect to such subject matter.

              (c) GOVERNING LAW. This Agreement shall be governed by, and
         construed in accordance with, the laws of the State of New York,
         regardless of the laws that might otherwise govern under applicable
         principles of conflicts of laws thereof.

              (d) NOTICES. All notices and other communications given or made
         pursuant hereto shall be in writing and shall be deemed to have been
         duly given or made as of the date delivered or sent if delivered
         personally or sent by telecopier or sent by prepaid overnight carrier
         to the parties at the following addresses (or at such other addresses
         as shall be specified by the parties by like notice):

                                       6
<PAGE>

                      (i)   if to the Company:

                            Transworld Healthcare (UK) Limited
                            Stone Business Park
                            Brooms Road
                            Stone
                            Staffordshire STI5 OTL
                            Fax: 01755 819 031

                      (ii)  if to TWUS:

                            Transworld Healthcare, Inc.
                            555 Madison Ave.
                            New York, NY  10022
                            Attn: Jack Wynne
                            Fax:  (212) 750-7221

                      (iii) if to Employee:

                            5 Westford Court
                            Harrison, NY  10528

              (e) AMENDMENT AND MODIFICATION. This Agreement may be amended,
         modified or supplemented, and rights hereunder may be waived, only by a
         written agreement signed by the Employee and duly authorized officers
         of the Company and TWUS. No waiver of any term, provision or condition
         of or failure to exercise or delay in exercising any rights or remedies
         under this Agreement, in one or more instances, shall be deemed to be,
         or construed as, a further or continuing waiver of such term,
         provision, condition, right or remedy or as a waiver of any other term,
         provision or condition of, or right or remedy under, this Agreement.

              (f) COUNTERPARTS. For the convenience of the parties, this
         Agreement may be executed in any number of separate counterparts, each
         such counterpart being deemed to be an original instrument, and all
         such counterparts shall together constitute the same agreement.

              (g) EFFECT OF HEADINGS; CONSTRUCTION. The descriptive headings in
         this Agreement have been inserted for convenience only and shall not be
         deemed to limit or otherwise affect the construction of any provision
         thereof or hereof. The parties have participated jointly in the
         negotiation and drafting of this Agreement (including the promissory
         note and pledge and security agreement contemplated to be entered into
         at Closing) with counsel sophisticated in investment transactions. In
         the event an ambiguity or question of intent or interpretation arises,
         this Agreement and the agreements, documents and instruments executed
         and delivered in connection herewith shall be construed as if drafted
         jointly by the parties and no presumption or burden of proof shall
         arise favoring or disfavoring any party by virtue of the authorship of
         any provisions of this Agreement and the agreements, documents and
         instruments executed and delivered in connection herewith.

                                       7
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the date first set forth above individually or by their duly
authorized representatives.

                                            TRANSWORLD HEALTHCARE (UK) LIMITED

                                            By: /s/ Tim Aitken
                                                --------------------------------
                                                Name:  Timothy M. Aitken
                                               Title: Chairman/CEO

                                            TRANSWORLD HEALTHCARE, INC.

                                            By: /s/ Tim Aitken
                                                --------------------------------
                                                Name:  Timothy M. Aitken
                                                Title: Chairman/CEO

                                            EMPLOYEE

                                            By: /s/ Sarah L. Eames
                                                --------------------------------
                                                Name: Sarah L. Eames

                                       8
<PAGE>

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                                  Aitken          Eames          Total
                                                  ------          -----          -----
<S>                                              <C>            <C>            <C>
A.   Redeemable Shares                           4,130,000      2,940,000      7,070,000
B.   TWUS Shares in Issuance                       684,258        487,099      1,171,357
C.   Compensatory Issuance Income Amount(1)     $2,737,032     $1,948,396     $4,685,428
D.   Estimated Total Tax Payable                $1,439,233       $873,267     $2,312,500
E.   Loan Amount(2)                               $550,000       $390,000       $940,000
F.   Estimated Gross Up Amount(3)                 $512,030       $362,970       $875,000
G.   Cash Bonus Amount(4)                       $1,401,263       $846,237     $2,247,500
H.   Total to be paid by Company at             $1,951,263     $1,236,237     $3,187,500
       Closing (Line "E" plus Line "G")
</TABLE>

---------
(1)  Based on assumed price of TWUS Common Stock of $4.00.
(2)  Negotiated Amount.
(3)  Calculated as sum of Line "G" plus Line "E" less Line "D".
(4)  Negotiated amounts.<PAGE>

                                                                   EXHIBIT 10.23

                                 PROMISSORY NOTE

                              Dated: April 30, 2002

         FOR VALUE RECEIVED, the undersigned (hereinafter called the "Maker")
hereby promises to pay to Transworld Healthcare, Inc., a New York corporation
("TWUS" and, in its capacity as lender, the "Lender"), or its registered
assigns, at its office at 555 Madison Avenue, 30th Floor, New York, NY 10022, or
at such other address as the Lender or any subsequent holder of this Promissory
Note shall stipulate in written notice to the Maker, the principal amount of __
Dollars and ___ Cents (the "Principal," plus any accrued but unpaid interest
and, less any principal amount repaid, the "Outstanding Principal Balance"),
with interest, compounding annually, on the Outstanding Principal Balance at the
fixed rate of four and sixty-five one-hundredths percent (4.65%) per annum. This
Promissory Note is being issued to evidence a certain loan made by the Lender on
a recourse basis (as set forth herein), the proceeds of which will be used by
the Maker to pay United States federal, New York state, and, if applicable, New
York City income taxes imposed on the Maker's Taxable Compensation Income.
Capitalized terms not otherwise defined herein shall have the meanings specified
in the Tax Bonus, Tax Loan and Tax Indemnification Agreement dated April 22,
2002 herewith by and between the Maker, TWUS and TWUK (as amended, modified or
otherwise supplemented from time to time, the "Indemnification Agreement").

         SECTION 1. PAYMENT.

         1.1. Maturity Date. The Maker shall be required to pay to the Lender
the unpaid Principal plus all unpaid, accrued interest on the earlier to occur
of: (a) April 30, 2007, and (b) the date on which the Maker has sold or
otherwise disposed of all of the TWUS Common Shares received pursuant to the
Issuance (the "Shares") (such date, the "Maturity Date").

         1.2. Interest. Interest shall accrue commencing on the date hereof and
shall be due and payable in full at the Maturity Date, or at such other times as
the Outstanding Principal Balance (or portions thereof) becomes due and payable
in accordance with the terms hereof.

         1.3. Prepayment. The Maker shall have the right to prepay the
Outstanding Principal Balance of this Promissory Note at any time, in whole or
in part, without the consent of the Lender and without penalty or premium. Upon
a Mandatory Prepayment Event (as defined below), the Maker shall be required to
pay to the Lender, as a prepayment of this Promissory Note, an amount equal to
the Mandatory Prepayment Amount (as defined below). For purposes of this
Promissory Note, a "Mandatory Prepayment Event" means the sale or disposition of
any of the Shares. For purposes of this Promissory Note, the "Mandatory
Prepayment Amount" equals the product of (x) the then Outstanding Principal
Balance plus all unpaid accrued interest on the Outstanding Principal Balance
and (y) a fraction, the numerator of which is the number of Shares sold or
disposed by the Maker and the denominator of which is the total number of Shares
held by the Maker immediately prior to such sale of disposal.

<PAGE>

         1.4. Application of Payments. The amount of any payment received or
set-off made by the Lender with respect to any amount owed pursuant to this
Promissory Note shall be applied, as of the date such payment is received or
such set-off is made, to reduce an equivalent percentage of (a) the Outstanding
Principal Balance and (b) unpaid accrued interest as of the date of such
payment. Each of the Lender and any subsequent holder of this Promissory Note
agrees, by its acceptance hereof, that before disposing of this Promissory Note
or any part hereof it will make a notation hereon of all principal payments
previously made hereunder and of the date to which interest hereon has been
paid; provided, however, that the failure to make a notation of any payment made
on this Promissory Note shall not limit or otherwise affect the obligation of
the Maker hereunder with respect to payments of principal or interest on this
Promissory Note.

         SECTION 2. SECURITY. All amounts due under this Promissory Note are and
shall be secured pursuant to the terms of the Pledge Agreement. The holder of
this Promissory Note is entitled to the benefits of the Pledge Agreement and the
security referred to therein, to which reference is hereby made for a
description of the properties and rights included in such security, the nature
of such security and the rights of the parties with respect to such security.
The Lender may enforce the agreements of the Maker contained therein and
exercise the remedies provided for thereby or otherwise available in respect
thereof, all in accordance with the terms thereof.

         SECTION 3. CONSIDERATION. In order to induce the Lender to accept this
Promissory Note and with full knowledge that the Lender will rely on the
representations and agreements contained herein, the Maker hereby represents,
warrants and agrees that this Promissory Note is a valid and binding obligation
of the undersigned, enforceable against the undersigned in accordance with its
terms and the Maker agrees that he will make indefeasible payment in full of all
amounts due under this Promissory Note as and when due hereunder in accordance
with the terms of this Promissory Note without claiming or asserting any
set-off. The obligations represented by this Promissory Note shall be absolute
irrespective of any set-off, claim, counterclaim, defense or other right which
the Maker may have against anyone for any reason whatsoever.

         SECTION 4. EVENTS OF DEFAULT. In case an Event of Default (as defined
in the Pledge Agreement) shall occur and be continuing, the entire unpaid amount
of principal and interest due under this Promissory Note may become or may be
declared to be due and payable in the manner and with the effect provided in the
Pledge Agreement.

         SECTION 5. MISCELLANEOUS.

         5.1. Waiver of Presentment and Jury Trial. The Maker and any endorser
of this Promissory Note hereby expressly waive presentment for payment, demand,
notice of nonpayment and dishonor, protest, notice of protest and notice of any
other kind and waive trial by jury in any action or proceeding arising on, out
of, under or by reason of this Promissory Note.

<PAGE>

         5.2. Information. The Maker hereby acknowledges that neither TWUS nor
any of its affiliates has made any representations or recommendations whatsoever
to the Maker concerning TWUS (including, without limitation, the financial
condition, prospects or any other matters relating to TWUS) or the Maker's
purchase of the Shares, except as set forth in the Indemnification Agreement.
The Maker assumes all responsibility of keeping himself or herself informed of
the affairs and business of TWUS and its subsidiaries. The Maker acknowledges
and agrees that Lender does not have any obligation to inform the Maker of any
matter relating to TWUS and its subsidiaries or their business and affairs.

         5.3. Successors and Assigns. This Promissory Note shall be binding upon
and enforceable against the Maker and his heirs, successors and assigns. The
Maker shall not have the right to assign all or any part of its rights or
obligations under this Promissory Note without the consent of the Lender, which
consent may be withheld in the sole discretion of the Lender. The Lender may
assign its rights and obligations under this Promissory Note without having to
obtain the consent of the Maker.

         5.4. Obligations Independent. The obligations of the Maker hereunder
and under the Pledge Agreement shall not be contingent upon or affected by any
similar undertaking of any other employee of TWUS, TWUK or their subsidiaries.

         5.5. Governing Law. The rights and liabilities of the parties hereto
shall be determined in accordance with the laws of the State of New York,
without regard to conflict of law principles.

         5.6. No Waiver, Remedies. No failure to exercise and no delay in
exercising, on the part of the Lender, any right, remedy, power or privilege
hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, power or
privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

         5.7. Severability. If any provision of this Promissory Note is invalid
or unenforceable under any applicable law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such applicable law. Any provision hereof which may be
held invalid or unenforceable under any applicable law shall not affect the
validity or enforceability of any other provision hereof, and to this extent the
provisions hereof shall be severable.

         5.8. Amendment. Except as expressly provided herein, this Promissory
Note may not be amended or otherwise modified except by a written instrument
signed by the Maker and the Lender.

         5.9. Notices. All notices and other communications hereunder shall be
in writing and delivered, telecopied, or mailed (certified mail, return receipt
requested, postage prepaid) as described in the Indemnification Agreement.

<PAGE>

         5.10. Recourse. The obligations of the Maker under this Promissory Note
and the Pledge Agreement, are personal obligations of the Maker, and the Lender
shall have recourse to the Maker or his property for payment, satisfaction, or
discharge of such obligations.

         IN WITNESS WHEREOF, the Maker has caused this Promissory Note to be
executed as of the date hereof.

                                              ---------------------------------
                                              [Employee]

<PAGE>

                         TRANSACTION ON PROMISSORY NOTE
                         ------------------------------

<TABLE>
<CAPTION>

                                                                              Outstanding
                              Amount of                Amount of               Principal
                               Principal             Interest Paid              Balance                Notation
          Date               Paid This Date            This Date               This Date               Made By
          ----               --------------            ---------               ---------               -------
<S>                      <C>                      <C>                      <C>                     <C>

</TABLE>

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"}]]