Document:

<PAGE>

                                                                   EXHIBIT 10.37

                              EMPLOYMENT AGREEMENT

         This Employment Agreement (the "AGREEMENT"), dated as of March 10, 2003
(the "EFFECTIVE DATE"), is made and entered by and between Carol Hannah (the
"EXECUTIVE") and HERBALIFE INTERNATIONAL, INC., a Nevada corporation ("PARENT"),
and HERBALIFE INTERNATIONAL OF AMERICA, INC., a California corporation
("OPERATING COMPANY") (collectively, Parent and Operating Company are referred
to herein as the "COMPANY"). This Agreement amends, restates and replaces in its
entirety that certain Employment Agreement among the parties hereto dated as of
August 20, 2000, as the same may have been amended or modified.

                                    RECITALS

         A.       The Company is engaged primarily in the distribution of weight
                  management, nutritional and personal care products through a
                  "multi-level" marketing system.

         B.       The Company desires to be assured of the services of Executive
                  by employing Executive in the capacity and on the terms set
                  forth below.

         C.       Executive desires to commit himself or herself to serve the
                  Company on the terms herein provided.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the foregoing and of the respective
covenants and agreements set forth below, the parties hereto agree as follows:

1.       Employment Period. The Company shall continue to employ Executive and
         Executive shall continue in the employ of the Company for the period
         commencing on the Effective Date and ending on the date that is three
         (3) years thereafter, unless sooner terminated in accordance with the
         provisions of this Agreement (the "TERM"). After the Term, the parties
         may (but shall be under no obligation to), by written agreement, renew
         or extend the term of the Agreement for an additional period or
         periods. The term of each renewal period of this Agreement is referred
         to herein as a "RENEWAL PERIOD"; and references to the "TERM" shall
         mean the period beginning on the Effective Date and ending on the date
         of termination of Executive's services for the Company, whether at the
         end of the Term or a Renewal Term or otherwise in accordance with the
         provisions of this Agreement. Upon expiration of the Term, except as
         expressly set forth herein (including in Section 5 and Section 6), this
         Agreement and all of its provisions shall terminate and shall cease to
         have any force or effect.

2.       Duties.

         (a)      During the Term, Executive shall serve as a Co-President of
                  the Company, with such authority and duties as are assigned to
                  Executive from time to time by the

<PAGE>

                  Board of Directors of Parent (the "BOARD") or the Chief
                  Executive Officer of Parent ("CEO") that are substantially
                  similar to the authority and duties currently vested in
                  Executive by the Board. Each of the undersigned acknowledges
                  and agrees that the Company may, subsequent to the Effective
                  Date, hire a CEO, and that any such CEO hiring may result in a
                  readjustment of Executive's title, authority, duties and
                  responsibilities for the Company; provided that in no event
                  shall Executive's title, authority, duties and
                  responsibilities for the Company be reduced, in the aggregate,
                  below the level of such title, authority, duties and
                  responsibilities vested in Executive in his or her capacity as
                  the Executive Vice President of Sales of the Company prior to
                  his or her promotion to Co-President. Executive will work
                  principally in the Los Angeles, California offices of the
                  Company, but will also conduct such business travel as is
                  reasonably required to fulfill his or her duties hereunder.
                  During the Term, Executive shall report to the Board and/or
                  the CEO.

         (b)      During the Term, Executive shall devote substantially all his
                  or her working time, attention, skill and efforts to the
                  business and affairs of the Company, will use his or her best
                  efforts to promote the success of the Company's business, and
                  shall not enter the employ of or serve as a consultant to, any
                  other company; provided, however, the foregoing shall not
                  preclude Executive from devoting a reasonable amount of time
                  to managing Executive's investments and personal affairs and
                  to charitable and civic activities.

3.       Compensation and Related Matters.

         (a)      Salary. During the Term, Executive shall receive a salary at
                  the per annum rate of Seven Hundred Twelve Thousand Five
                  Hundred Dollars ($712,500), payable semi-monthly or otherwise
                  in accordance with the Company's payroll practices for senior
                  executives. Executive's annual base salary shall be subject to
                  review from time to time for possible increases by the Board.
                  Executive's base salary, as increased from time to time, shall
                  be referred to as the "BASE SALARY."

         (b)      Expenses. The Company shall reimburse Executive for all
                  reasonable travel and other reasonable out-of-pocket business
                  expenses incurred by Executive in the performance of his or
                  her duties under this Agreement upon evidence of payment and
                  otherwise in accordance with the Company's policies and
                  procedures in effect from time to time.

         (c)      Employee Benefits. During the Term, Executive shall be
                  entitled to participate in or receive benefits under each
                  benefit plan or arrangement made available by the Company to
                  its senior executives (including, without limitation, those
                  relating to group medical, dental, vision, long-term
                  disability and life insurance) on terms no

                                        2

<PAGE>

                  less favorable than those generally applicable to senior
                  executives of the Company, subject to and on a basis
                  consistent with the terms, conditions and overall
                  administration of such plans and subject to the Company's
                  right to modify, amend or terminate any such plan or
                  arrangement. Executive's individual participation levels in
                  the Company's and its affiliates' equity compensation
                  arrangements (including stock option plans) will be determined
                  by the Board in its sole discretion. In the event the Company
                  or its affiliates decide to grant Executive any stock options
                  or other equity compensation, any such stock options or equity
                  compensation will be made pursuant to separate written
                  agreements between Executive and the Company or its
                  affiliates.

         (d)      Bonus. Notwithstanding any provision in this Agreement to the
                  contrary, Executive agrees that he or she shall cease to be a
                  participant of and shall not be entitled to any additional
                  compensation or payments under the 1994 Performance-Based
                  Annual Incentive Compensation Plan (the "1994 PLAN") for any
                  period after June 30, 2002 and that the termination of
                  participation in the 1994 Plan will not cause any additional
                  benefit to be payable to Executive as a result of such
                  termination. Executive and the Board have separately
                  established Executive's bonus opportunity and bonus objectives
                  for the calendar year ended December 31, 2003. For all
                  calendar years during the Term following the calendar year
                  ended December 31, 2003, Executive's bonus opportunity will be
                  not less than the amount of Executive's bonus opportunity for
                  the calendar year ended December 31, 2003, it being agreed
                  that Executive's individual bonus objectives will be
                  established on an annual basis by the Board in its good faith
                  discretion.

         (e)      Vacation. Executive shall be entitled to five (5) weeks paid
                  vacation during each year of the Term. Unused vacation in any
                  year shall carry over to subsequent years without limitation,
                  unless otherwise provided in a vacation pay policy that is
                  generally applicable to the senior executives of the Company.

         (f)      Deductions and Withholdings. All amounts payable or which
                  become payable hereunder shall be subject to all deductions
                  and withholding required by law.

4.       Termination. Executive's services for the Company and the Term of this
         Agreement may be terminated under the following circumstances:

         (a)      Death. Executive's services hereunder shall terminate upon his
                  or her death. In the case of Executive's death, the Company
                  shall pay (in accordance with Section 4(f) hereof) to
                  Executive's beneficiaries or estate, as appropriate, (i) his
                  or her then current accrued and unpaid Base Salary through his
                  or her date of death as well as 100% of any accrued and unpaid
                  bonus for any years preceding the year of termination (it
                  being expressly agreed that except as hereinafter provided,

                                        3

<PAGE>

                  Executive shall have no rights to receive a bonus in respect
                  of the year in which termination occurs), (ii) an additional
                  amount equal to one year of Base Salary and Executive's bonus
                  for the year of termination (it being agreed that Executive's
                  bonus for the year of termination to be paid under this
                  Section 4(a) shall be deemed to be equal to one year of Base
                  Salary), and (iii) other benefits and payments (including,
                  without limitation, reimbursement of expenses incurred
                  conducting Company business pursuant to Section 3(b)) to which
                  Executive is then entitled hereunder. Executive, his
                  beneficiaries or his estate, as appropriate, shall be entitled
                  to no other compensation under this Agreement following, or as
                  a result of, a termination under these circumstances.

         (b)      Disability.

                  (i)      If a Disability (as defined below) of Executive
                           occurs during the Term, the Board may give Executive
                           written notice of its intention to terminate his or
                           her employment. In such event, Executive's services
                           with the Company shall terminate as of the date of
                           such notice. In the case of a termination as a result
                           of a Disability, the Company shall pay (in accordance
                           with Section 4(f) hereof) to Executive (i) his or her
                           then current accrued and unpaid Base Salary through
                           the effective date of his or her termination as well
                           as 100% of any accrued and unpaid bonus for any years
                           preceding the year of termination (it being expressly
                           agreed that except as hereinafter provided, Executive
                           shall have no rights to receive a bonus in respect of
                           the year in which termination occurs), (ii) an
                           additional amount equal to one year of Base Salary
                           and Executive's bonus for the year of termination (it
                           being agreed that Executive's bonus for the year of
                           termination to be paid under this Section 4(b) shall
                           be deemed to be equal to one year of Base Salary),
                           and (iii) other benefits and payments (including,
                           without limitation, reimbursement of expenses
                           incurred conducting Company business pursuant to
                           Section 3(b)) to which Executive is then entitled
                           hereunder. Executive and his or her beneficiaries, as
                           appropriate, shall be entitled to no other
                           compensation under this Agreement following, or as a
                           result of, a termination under these circumstances.

                  (ii)     For the purpose of this Section 4(b), "DISABILITY"
                           shall mean Executive's inability to perform his or
                           her duties for the Company on a full-time basis for
                           120 consecutive days or a total of 180 days in any
                           twelve (12) month period as reasonably determined by
                           the Board.

         (c)      Termination by the Company for Cause. The Board may terminate
                  Executive's services hereunder for Cause (as defined below) at
                  any time upon written notice to Executive. In such event,
                  Executive's services shall terminate as of the date of

                                        4

<PAGE>

                  such notice. In the case of Executive's termination for Cause,
                  the Company shall pay (in accordance with Section 4(f) hereof)
                  to Executive (i) his or her then current accrued and unpaid
                  Base Salary through the effective date of his or her
                  termination as well as 100% of any accrued and unpaid bonus
                  for any years preceding the year of termination (it being
                  expressly agreed that Executive shall have no rights to
                  receive a bonus in respect of the year in which termination
                  occurs) and (ii) other benefits and payments (including,
                  without limitation, reimbursement of expenses incurred
                  conducting Company business pursuant to Section 3(b)) to which
                  Executive is then entitled hereunder. Executive and his or her
                  beneficiaries, as appropriate, shall be entitled to no other
                  compensation under this Agreement following, or as a result
                  of, a termination under these circumstances. For purposes of
                  this Agreement, the Board shall have "CAUSE" to terminate
                  Executive's services hereunder in the event of any of the
                  following acts or circumstances: (i) Executive's commission of
                  a felony or any other act or omission involving dishonesty,
                  disloyalty or fraud with respect to the Company or any of its
                  affiliates or any of their distributors, suppliers or other
                  material business relations; (ii) conduct by Executive which
                  could reasonably be expected to bring the Company or any of
                  its affiliates into substantial public disgrace or disrepute;
                  (iii) Executive's substantial and repeated failure to perform
                  Executive's lawful duties as contemplated in Section 2 of this
                  Agreement; (iv) Executive's gross negligence or willful
                  misconduct with respect to any material aspect of the business
                  of the Company or any of its affiliates; (v) Executive's
                  failure to comply in any material respect (including, without
                  limitation, the making of any certifications required
                  thereunder) with applicable laws, including, without
                  limitation, the Securities Act of 1933, as amended, the
                  Securities Exchange Act of 1934, as amended, the
                  Sarbanes-Oxley Act of 2002, as amended, or any of the rules
                  and regulations promulgated under any of the foregoing laws;
                  or (vi) any material breach of this Agreement or any material
                  breach of any other written agreement between Executive and
                  the Company's affiliates governing Executive's equity
                  compensation arrangements (i.e., any agreement with respect to
                  Executive's stock and/or stock options of any of the Company's
                  affiliates).

         (d)      Termination by Executive. Executive may terminate his or her
                  employment hereunder for any reason or no reason, provided
                  that Executive first gives the Company a written notice of
                  termination at least fifteen (15) calendar days prior to the
                  effective date of any such termination. In the event Executive
                  terminates his or her employment, the Company shall pay (in
                  accordance with Section 4(f) hereof) to Executive (i) his or
                  her current accrued and unpaid Base Salary through the
                  effective date of his or her termination as well as 100% of
                  any accrued and unpaid bonus for any year preceding the year
                  of termination (it being expressly agreed that Executive shall
                  have no rights to receive a bonus in respect of the year in
                  which termination occurs) and (ii) other benefits and payments
                  (including,

                                        5

<PAGE>

                  without limitation, reimbursement of expenses incurred
                  conducting Company business pursuant to Section 3(b)) to which
                  Executive is then entitled hereunder. Executive and his or her
                  beneficiaries, as applicable, shall be entitled to no other
                  compensation under this Agreement following, or as a result
                  of, a termination under these circumstances.

         (e)      Termination by the Company Without Cause. The Board may
                  terminate Executive's services hereunder without Cause at any
                  time upon written notice to Executive. In such event,
                  Executive's services shall terminate as of the date of such
                  notice. In the event Executive's services hereunder are
                  terminated by the Company without Cause, and subject to
                  Executive's compliance with the terms of Section 5 and Section
                  6 herein, the Company shall pay (in accordance with Section
                  4(f) hereof) to Executive (i) his or her then current accrued
                  and unpaid Base Salary through the effective date of his
                  termination as well as 100% of any accrued and unpaid bonus
                  for any years preceding the year of termination (it being
                  expressly agreed that except as hereinafter provided,
                  Executive shall have no rights to receive a bonus in respect
                  of the year in which termination occurs), (ii) an additional
                  amount equal to one year of Base Salary and Executive's bonus
                  for the year of termination (it being agreed that Executive's
                  bonus for the year of termination to be paid under this
                  Section 4(e) shall be deemed to be equal to one year of Base
                  Salary), and (iii) other benefits and payments (including,
                  without limitation, reimbursement of expenses incurred
                  conducting Company business pursuant to Section 3(b)) to which
                  Executive is then entitled hereunder. In addition, during the
                  one (1) year period immediately following the date of
                  termination, the Company shall continue to afford to Executive
                  the group medical, dental, vision, long-term disability and
                  life insurance specified in Section 3(c) above. Executive and
                  his or her beneficiaries, as applicable, shall be entitled to
                  no other compensation under this Agreement following, or as a
                  result of, a termination under these circumstances. Executive
                  shall have no duty to seek to mitigate the above severance
                  benefits in the event of termination hereunder without Cause,
                  and, subject to Executive's compliance with Section 5 and
                  Section 6 herein, any compensation derived by Executive from
                  alternative employment or otherwise shall not reduce the
                  Company's obligations hereunder.

         (f)      Payments to Executive. Subject to Executive's continuing
                  compliance with the provisions of Section 5 and Section 6
                  herein, any amounts payable to Executive upon his or her
                  termination of employment under this Section 4 shall be paid
                  at such times as such amounts would have otherwise been
                  payable to Executive had Executive's employment not been
                  terminated.

         (g)      Resignation of Offices. Promptly following any termination of
                  Executive's employment with the Company (other than by reason
                  of Executive's death),

                                        6

<PAGE>

                  Executive shall promptly deliver to the Company reasonably
                  satisfactory written evidence of Executive's resignation as a
                  member of the board of directors and/or any office (e.g.,
                  office of Co-President) with the Company or any of its
                  affiliates. The Company shall be entitled to withhold payment
                  of any amounts otherwise due pursuant to this Section 4 until
                  Executive has complied with the provisions of this Section
                  4(g).

         (h)      Release. As a precondition to the Company's obligations to
                  make any of the payments specified in Sections 4(a), 4(b) or
                  4(e) of this Agreement, Executive or his or her guardian,
                  estate or heirs, as appropriate, shall execute and deliver to
                  the Company an enforceable and fully effective (i.e., there
                  shall be no further unsatisfied conditions to the
                  effectiveness thereof) general release in form and substance
                  reasonably satisfactory to the Company.

         (i)      Employee Benefit Plan Rights. Following any termination of
                  Executive's employment with the Company, any rights that may
                  exist in Executive's favor to payment of any amount under any
                  employee benefit plan or arrangement of the Company other than
                  those set forth in this Agreement shall be made in accordance
                  with the terms and conditions of any such employee benefit
                  plan or arrangement.

5.       Confidential and Proprietary Information.

         (a)      The parties agree and acknowledge that during the course of
                  Executive's employment, Executive has been given and will have
                  access to and be exposed to trade secrets and confidential
                  information in written, oral, electronic and other forms
                  regarding the Company and its affiliates (which includes but
                  is not limited to all of its business units, divisions and
                  affiliates) and their business, equipment, products and
                  employees, including, without limitation: the identities of
                  the Company's and its affiliates' distributors and customers
                  and potential distributors and customers (hereinafter referred
                  to collectively as "DISTRIBUTORS"), including, without
                  limitation, the identity of Distributors that Executive
                  cultivates or maintains while providing services at the
                  Company or any of its affiliates using the Company's or any of
                  its affiliates' products, name and infrastructure, and the
                  identities of contact persons with respect to those
                  Distributors; the particular preferences, likes, dislikes and
                  needs of those Distributors and contact persons with respect
                  to product types, pricing, sales calls, timing, sales terms,
                  rental terms, lease terms, service plans, and other marketing
                  terms and techniques; the Company's and its affiliates'
                  business methods, practices, strategies, forecasts, pricing,
                  and marketing techniques; the identities of the Company's and
                  its affiliates' licensors, vendors and other suppliers and the
                  identities of the Company's and its affiliates' contact
                  persons at such licensors, vendors and other

                                        7

<PAGE>

                  suppliers; the identities of the Company's and its affiliates'
                  key sales representatives and personnel and other employees;
                  advertising and sales materials; research, computer software
                  and related materials; and other facts and financial and other
                  business information concerning or relating to the Company or
                  any of its affiliates and their business, operations,
                  financial condition, results of operations and prospects.
                  Executive expressly agrees to use such trade secrets and
                  confidential information only for purposes of carrying out his
                  duties for the Company and its affiliates, and not for any
                  other purpose, including, without limitation, not in any way
                  or for any purpose detrimental to the Company or any of its
                  affiliates. Executive shall not at any time, either during the
                  course of his or her employment hereunder or after the
                  termination of such employment, use for himself or herself or
                  others, directly or indirectly, any such trade secrets or
                  confidential information, and, except as required by law,
                  Executive shall not disclose such trade secrets or
                  confidential information, directly or indirectly, to any other
                  person or entity. Trade secret and confidential information
                  hereunder shall not include any information which (i) is
                  already in or subsequently enters the public domain, other
                  than as a result of any direct or indirect disclosure by
                  Executive, (ii) becomes available to Executive on a
                  non-confidential basis from a source other than the Company or
                  any of its affiliates, provided that such source is not
                  subject to a confidentiality agreement or other obligation of
                  secrecy or confidentiality (whether pursuant to a contract,
                  legal or fiduciary obligation or duty or otherwise) to the
                  Company or any of its affiliates or any other person or entity
                  or (iii) is approved for release by the board of directors of
                  the Company or any of its affiliates or which the board of
                  directors of the Company or any of its affiliates makes
                  available to third parties without an obligation of
                  confidentiality.

         (b)      All physical property and all notes, memoranda, files,
                  records, writings, documents and other materials of any and
                  every nature, written or electronic, which Executive shall
                  prepare or receive in the course of his or her employment with
                  the Company and which relate to or are useful in any manner to
                  the business now or hereafter conducted by the Company or any
                  of its affiliates are and shall remain the sole and exclusive
                  property of the Company and its affiliates, as applicable.
                  Executive shall not remove from the Company's premises any
                  such physical property, the original or any reproduction of
                  any such materials nor the information contained therein
                  except for the purposes of carrying out his or her duties to
                  the Company or any of its affiliates and all such property
                  (except for any items of personal property not owned by the
                  Company or any of its affiliates), materials and information
                  in his or her possession or under his or her custody or
                  control upon the termination of his or her employment shall be
                  immediately turned over to the Company and its affiliates, as
                  applicable.

                                        8

<PAGE>

         (c)      All inventions, improvements, trade secrets, reports, manuals,
                  computer programs, tapes and other ideas and materials
                  developed or invented by Executive during the period of his or
                  her employment, either solely or in collaboration with others,
                  which relate to the actual or anticipated business or research
                  of the Company or any of its affiliates which result from or
                  are suggested by any work Executive may do for the Company or
                  any of its affiliates or which result from use of the
                  Company's or any of its affiliates' premises or property
                  (collectively, the "DEVELOPMENTS") shall be the sole and
                  exclusive property the Company and its affiliates, as
                  applicable. Executive assigns and transfers to the Company his
                  or her entire right and interest in any such Development, and
                  Executive shall execute and deliver any and all documents and
                  shall do and perform any and all other acts and things
                  necessary or desirable in connection therewith that the
                  Company or any of its affiliates may reasonably request.

         (d)      The provisions of this Section 5 and Section 6 shall survive
                  any termination of this Agreement and termination of
                  Executive's employment with the Company.

6.       Non-Solicitation.

         (a)      Executive acknowledges that in the course of his employment
                  for the Company he or she has become and will continue to
                  become familiar with the Company's and its affiliates' trade
                  secrets and other confidential information concerning the
                  Company and its affiliates. Accordingly, Executive agrees
                  that, during the Term and for a period of twelve (12) months
                  immediately thereafter (the "NONSOLICITATION PERIOD"), he or
                  she will not directly or indirectly through another entity (i)
                  induce or attempt to induce any employee or Distributor of the
                  Company or any of its affiliates to leave the employment of,
                  or cease to maintain its distributor relationship with, the
                  Company or such affiliate, or in any way interfere with the
                  relationship between the Company or any such affiliate and any
                  employee or Distributor thereof, (ii) hire any person who was
                  an employee of the Company or any of its affiliates at any
                  time during the Nonsolicitation Period or enter into a
                  distributor relationship with any person or entity who was a
                  Distributor of the Company or any of its affiliates at any
                  time during the Nonsolicitation Period, (iii) induce or
                  attempt to induce any Distributor, supplier, licensor,
                  licensee or other business relation of the Company or any of
                  its affiliates to cease doing business with the Company or
                  such affiliate, or in any way interfere with the relationship
                  between such Distributor, supplier, licensor, licensee or
                  business relation and the Company or any of its affiliates
                  (including, without limitation, making any negative statements
                  or communications about the Company or any of its affiliates)
                  or (iv) use any trade secrets or other confidential
                  information of the Company or any of its affiliates to
                  directly or indirectly participate in any means or manner in
                  any Competitive Business, wherever

                                        9

<PAGE>

                  located. "COMPETITIVE BUSINESS" means the development,
                  marketing, distribution or sale of weight management products,
                  nutritional supplements or personal care products through
                  multi-level marketing or other direct selling channels.
                  "PARTICIPATE" includes any direct or indirect interest in any
                  enterprise, whether as an officer, director, employee,
                  partner, sole proprietor, agent, representative, independent
                  contractor, executive, franchisor, franchisee, creditor,
                  owner, distributor or otherwise; provided that the foregoing
                  activities shall not include the passive ownership (i.e.,
                  Executive does not directly or indirectly participate in the
                  business or management of the applicable entity) of less than
                  2% of the stock of a publicly-held corporation whose stock is
                  traded on a national securities exchange and which is not
                  primarily engaged in a Competitive Business.

         (b)      As long as Executive is employed by the Company, Executive
                  agrees that he or she will not, except with the express
                  written consent of the Board, become engaged in, render
                  services for, or permit his or her name to be used in
                  connection with any business other than the business of the
                  Company and its affiliates.

         (c)      Executive has agreed to be bound by the covenants contained in
                  this Section 6 for the purpose of preserving for the Company's
                  and its affiliates' benefit the goodwill, confidential and
                  proprietary information and going concern value of the Company
                  and its affiliates and their respective business
                  opportunities, and to protect the value of the capital stock
                  of the Company acquired by WH Holdings (Cayman Islands) Ltd.
                  pursuant to that certain Agreement and Plan of Merger dated
                  April 10, 2002, by and among WH Holdings (Cayman Islands)
                  Ltd., Herbalife International, Inc. and WH Acquisition Corp.
                  WH Holdings (Cayman Islands) Ltd. and each of its affiliates
                  are intended third party beneficiaries of the provisions of
                  Sections 5 and 6 of this Agreement.

7.       Injunctive Relief. Executive and the Company (a) intend that the
         provisions of Sections 5 and 6 be and become valid and enforceable, (b)
         acknowledge and agree that the provisions of Sections 5 and 6 are
         reasonable and necessary to protect the legitimate interests of the
         business of the Company and its affiliates and (c) agree that any
         violation of Section 5 or 6 will result in irreparable injury to the
         Company and its affiliates, the exact amount of which will be difficult
         to ascertain and the remedies at law for which will not be reasonable
         or adequate compensation to the Company and its affiliates for such a
         violation. Accordingly, Executive agrees that if Executive violates or
         threatens to violate the provisions of Section 5 or 6, in addition to
         any other remedy which may be available at law or in equity, the
         Company shall be entitled to specific performance and injunctive
         relief, without posting bond or other security, and without the
         necessity of proving actual damages. In addition, in the event of a
         violation or threatened violation by Executive of Section 5 or 6 of
         this Agreement, the Nonsolicitation Period will be tolled

                                       10

<PAGE>

         until such violation or threatened violation has been duly cured. If,
         at the time of enforcement of Sections 5 or 6 of this Agreement, a
         court holds that the restrictions stated therein are unreasonable under
         circumstances then existing, the parties hereto agree that the maximum
         period, scope or geographical area reasonable under such circumstances
         shall be substituted for the stated period, scope or area.

8.       Assignment; Successors and Assigns. Executive agrees that he or she
         shall not assign, sell, transfer, delegate or otherwise dispose of,
         whether voluntarily or involuntarily, any rights or obligations under
         this Agreement, nor shall Executive's rights hereunder be subject to
         encumbrance of the claims of creditors. Any purported assignment,
         transfer, delegation, disposition or encumbrance in violation of this
         Section 8 shall be null and void and of no force or effect. Nothing in
         this Agreement shall prevent the consolidation or merger of the Company
         with or into any other entity, or the sale by the Company of all or any
         portion of its properties or assets, or the assignment by the Company
         of this Agreement and the performance of its obligations hereunder to
         any successor in interest or any affiliated entity, and Executive
         hereby consents to any and all such assignments. Subject to the
         foregoing, this Agreement shall be binding upon and shall inure to the
         benefit of the parties and their respective heirs, legal
         representatives, successors, and permitted assigns, and, except as
         expressly provided herein, no other person or entity shall have any
         right, benefit or obligation under this Agreement as a third party
         beneficiary or otherwise.

9.       Governing Law; Jurisdiction and Venue. This Agreement shall be
         governed, construed, interpreted and enforced in accordance with the
         substantive laws of the State of California without regard to the
         conflicts of law principles thereof. Suit to enforce this Agreement or
         any provision or portion thereof may be brought in the federal or state
         courts located in Los Angeles, California.

10.      Severability of Provisions. In the event that any provision or any
         portion thereof should ever be adjudicated by a court of competent
         jurisdiction to exceed the time or other limitations permitted by
         applicable law, as determined by such court in such action, then such
         provisions shall be deemed reformed to the maximum time or other
         limitations permitted by applicable law, the parties hereby
         acknowledging their desire that in such event such action be taken. In
         addition to the above, the provisions of this Agreement are severable,
         and the invalidity or unenforceability of any provision or provisions
         of this Agreement or portions thereof shall not affect the validity or
         enforceability of any other provision, or portion of this Agreement,
         which shall remain in full force and effect as if executed with the
         unenforceable or invalid provision or portion thereof eliminated.
         Notwithstanding the foregoing, the parties hereto affirmatively
         represent, acknowledge and agree that it is their intention that this
         Agreement and each of its provisions are enforceable in accordance with
         their terms and expressly agree not to challenge the validity or
         enforceability of this Agreement or any of its provisions, or portions
         or aspects

                                       11

<PAGE>

         thereof, in the future. The parties hereto are expressly relying upon
         this representation, acknowledgement and agreement in determining to
         enter into this Agreement.

11.      Warranty. As an inducement to the Company to enter into this Agreement,
         Executive represents and warrants that he or she is not a party to any
         other agreement or obligation for personal services, and that there
         exists no impediment or restraint, contractual or otherwise, on his or
         her power, right or ability to enter into this Agreement and to perform
         his or her duties and obligations hereunder. As an inducement to
         Executive to enter into this Agreement, Company represents and warrants
         that the person signing this Agreement for the Company has been duly
         authorized to do so by all necessary corporate action and has the
         corporate power and authority to execute this Agreement on the
         Company's behalf. The execution and delivery of this Agreement and the
         consummation of the transactions contemplated have been duly and
         effectively authorized by all necessary corporate action of the
         Company.

12.      Notices. All notices, requests, demands and other communications which
         are required or may be given under this Agreement shall be in writing
         and shall be deemed to have been duly given when received if personally
         delivered; when transmitted if transmitted by telecopy, electronic or
         digital transmission method upon receipt of telephonic or electronic
         confirmation; the day after it is sent, if sent for next day delivery
         to a domestic address by recognized overnight delivery service (e.g.,
         Federal Express); and upon receipt, if sent by certified or registered
         mail, return receipt requested. In each case notice will be sent to:

         (a)      If to the Company:

                  Herbalife International, Inc.
                  Herbalife International of America, Inc.
                  1800 Century Park East
                  Los Angeles, California 90067
                  Attention: Board of Directors
                  Telecopy: (310) 557-3906

         (b)      with a copy to:

                  Herbalife International, Inc.
                  Herbalife International of America, Inc.
                  1800 Century Park East
                  Los Angeles, California 90067
                  Attention: General Counsel

                                       12

<PAGE>

                  Telecopy: (310) 557-3906

         (c)      if to Executive, to:

                  c/o Herbalife International, Inc.
                  1800 Century Park East
                  Los Angeles, California 90067
                  Telecopy: (310) 557-3906

         (d)      with a copy to:

                  Troy & Gould Professional Corporation
                  1801 Century Park East, 16th Floor
                  Los Angeles, California 90067
                  Attention: Dale E. Short
                  Telecopy: (310) 201-4746

         or to such other place and with other copies as either party may
designate as to itself, himself or herself by written notice to the others.

13.      Cumulative Remedies. All rights and remedies of either party hereto are
         cumulative of each other and of every other right or remedy such party
         may otherwise have at law or in equity, and the exercise of one or more
         rights or remedies shall not prejudice or impair the concurrent or
         subsequent exercise of other rights or remedies.

14.      Counterparts. This Agreement may be executed in several counterparts,
         each of which will be deemed to be an original, but all of which
         together shall constitute one and the same Agreement.

15.      Entire Agreement. The terms of this Agreement are intended by the
         parties to be the final expression of their agreement with respect to
         the subject matter hereof and supersedes (and may not be contradicted
         by, modified or supplemented by) any prior or contemporaneous
         agreement, written or oral, with respect thereto. The parties further
         intend that this Agreement shall constitute the complete and exclusive
         statements of its terms and that no extrinsic evidence whatsoever may
         be introduced in any judicial, administrative or other legal proceeding
         to vary the terms of this Agreement. Executive further acknowledges
         that this Agreement supersedes any prior agreement with respect to the
         subject matter hereof (including without limitation, Executive's
         employment agreement with the Company dated August 20, 2000, as the
         same may have been amended). Further, Executive acknowledges that he or
         she has been paid his benefit under the Herbalife International, Inc.
         Senior Executive Change in Control Plan and that, upon such payment to
         Executive, such plan was terminated in accordance with its terms.

                                       13

<PAGE>

16.      Amendments; Waivers. This Agreement may not be modified, amended, or
         terminated except by an instrument in writing, approved by the Board
         and signed by Executive and a member of the Board other than Executive.
         As an exception to the foregoing, the parties acknowledge and agree
         that the Company shall have the right, in its sole discretion, to
         reduce the scope of any covenant or obligation of Executive set forth
         in Sections 5 or 6 of this Agreement or any portion thereof, effective
         immediately upon receipt by Executive of written notice thereof from
         the Company. No waiver of any of the provisions of this Agreement,
         whether by conduct or otherwise, in any one or more instances, shall be
         deemed to be construed as a further, continuing or subsequent waiver of
         any such provision or as a waiver of any other provision of this
         Agreement. No failure to exercise and no delay in exercising any right,
         remedy or power hereunder shall preclude any other or further exercise
         of any other right, remedy or power provided herein or by law or in
         equity.

17.      Representation of Counsel; Mutual Negotiation. Each party has had the
         opportunity to be represented by counsel of its choice in negotiating
         this Agreement. This Agreement shall therefore be deemed to have been
         negotiated and prepared at the joint request, direction and
         construction of the parties, at arm's-length, with the advice and
         participation of counsel, and shall be interpreted in accordance with
         its terms without favor to any party.

18.      Indemnification. Executive shall be indemnified by the Company to the
         maximum extent permissible from time to time under the Nevada General
         Corporation Law, including with respect to advancement of expenses.

19.      Suit to Enforce. In any action or proceeding to enforce any provision
         of this Agreement, the prevailing party shall be entitled, in addition
         to other remedies, to recover its, his or her attorney's fees and costs
         of suit.

                                       14

<PAGE>

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

                                    HERBALIFE INTERNATIONAL, INC.

                                    By: /s/ Brian Kane
                                       -----------------------------------------

                                    Name: Brian Kane
                                         ---------------------------------------

                                    Title: Co-President
                                          --------------------------------------

                                    HERBALIFE INTERNATIONAL OF AMERICA, INC.

                                    By: /s/ Brian Kane
                                       -----------------------------------------

                                    Name: Brian Kane
                                         ---------------------------------------

                                    Title: Co-President
                                          --------------------------------------

                                    EXECUTIVE

                                    By: /s/ Carol Hannah
                                       -----------------------------------------
                                            Carol Hannah<PAGE>
                                                                   EXHIBIT 10.38

                      NON-STATUTORY STOCK OPTION AGREEMENT

               AGREEMENT (this "Agreement") entered into as of the 10th day of
March, 2003, by and between WH Holdings (Cayman Islands) Ltd., a Cayman Islands
company (the "Company"), and the undersigned employee (the "Employee") of the
Company or its Subsidiaries.

               WHEREAS, pursuant to the WH Holdings (Cayman Islands) Ltd. Stock
Option Plan (the "Plan"), the Committee designated under the Plan desires to
grant to the Employee an option to acquire Common Shares, par value $0.001 per
share, of the Company; and

               WHEREAS, the Employee desires to accept such option subject to
the terms and conditions of this Agreement.

               NOW, THEREFORE, in consideration of the premises and of the
mutual covenants and agreements contained herein, the Company and the Employee,
intending to be legally bound, hereby agree as follows:

               1. Grant of Option. On the terms and conditions hereinafter set
forth, the Company hereby grants to the Employee an option to purchase all (or
any part) of (i) 1,207,583 Shares at an exercise price of $0.44 per share and
(ii) 603,792 Shares at an exercise price of $1.76 per share (the aforementioned
clauses (i) and (ii) collectively, the "Option"). This Option is granted as of
the date hereof (the "Grant Date"). The Option is a Non-Statutory Stock Option.
This Option is granted pursuant to the Plan, and is governed by the terms and
conditions of the Plan. All defined terms used herein, unless specifically
defined in this Agreement, have the meanings assigned to them in the Plan.
Employee has previously been provided with a copy of that certain Private
Placement Memorandum dated July 15, 2002 regarding the offering of the Company's
12% Series A Cumulative Convertible Preferred Shares, as supplemented by
Supplements Nos. 1, 2 and 3 thereto (collectively, the "PPM"). To the Company's
knowledge, the disclosure of the Company's share ownership set forth in the PPM
beneath the caption "Share Ownership" therein accurately sets forth, in all
material respects, the share ownership of the Company as of the dates indicated
therein.

               2. Time of Exercise of Option.

        (a) The Option will become vested and exercisable (pro rata according to
the number of Shares exercisable at the relevant exercise prices specified
above) fifteen percent (15%) as of the date hereof, and thereafter, in quarterly
5% increments (pro rata according to the number of Shares exercisable at the
relevant exercise prices specified

                                       1
<PAGE>

above) commencing on June 30, 2003 and on each subsequent last day of each
following calendar quarter until the Option becomes fully vested and exercisable
as of June 30, 2007.

               (b) Notwithstanding the preceding or any other provision in this
Agreement or the Plan to the contrary, in the event that the Sponsors sell, for
cash, 100% of their investments in the debt and equity securities of the Company
and each of its Subsidiaries (whether by sale to an independent third party
(i.e., excluding either Sponsor, the Company or any of their respective
affiliates) or in connection with a liquidating distribution in connection with
a sale of all or substantially all of the assets of the Company) in connection
with either: (i) a Change in Control or (ii) an Initial Public Offering, the
previously unexercisable portion of the Option will immediately become 100%
vested and exercisable immediately prior to the closing of any such transaction.
In such event, Employee shall have the right, by giving notice five days before
such closing, to exercise the Option, in whole or in part, effective as of and
conditioned upon such closing. For purposes of the Plan and this Agreement,
"Sponsors" means Whitney & Co., LLC, Golden Gate Private Equity, Inc. and the
respective investment funds managed by each of them.

               3. Term of Options and Repurchase Rights.

               (a) The Option will expire 10 years from the date hereof, but
will be subject to earlier termination as provided below.

               (b) Upon Employee's termination of employment with the Company or
any of its Subsidiaries for whatever reason:

                      (i) the unexercisable portion of the Option hereby granted
will terminate on the date of such termination.

                      (ii) the exercisable portion of the Option hereby granted
will be treated as follows:

                             (A) Subject to the repurchase rights described in
(c) below and the Shareholders' Agreement, if the Employee is terminated for any
reason except for Cause, the exercisable portion of the Option hereby granted
will be exercisable for 30 days following the termination, unless the Employee
terminates employment on account of a "disability" as defined in Code Section
22(e) or if the Employee dies, in which case, such Employee or such Employee's
personal representative, respectively, may exercise the exercisable portion of
the Option hereby granted for 90 days following the termination of employment on
account of such disability or the Employee's death.

                                       2
<PAGE>

                             (B) If the Employee is terminated for Cause, the
exercisable portion of the Option hereby granted will terminate on the date of
such termination.

               (c) The Company has the right to repurchase the Shares acquired
upon the exercise of Options for a period of 90 days after the Employee
terminates employment or 90 days after the Shares for which the Option is
exercised are acquired, whichever is later (the "Repurchase Period").
Notwithstanding anything to the contrary in the Shareholders' Agreement, the
purchase price per Share payable under Section 6(a) or (b) of the Shareholder's
Agreement where such Termination (as defined in the Shareholders' Agreement):

                      (i) was due to resignation or for Cause shall be the
amount equal to the lesser of: (A) the Fair Market Value at the time of such
termination; or (B) the relevant exercise price for such Shares;

                      (ii) was without Cause or because of death, disability or
Retirement (as defined below) shall be the amount equal to the greater of: (A)
the Fair Market Value at the time of such termination; or (B) the relevant
exercise price for such Shares.

               (d) For purposes of this Agreement, (i) "Cause" shall have the
meaning ascribed to such term in any written employment agreement between
Employee and the Company or one or more of its Subsidiaries, as the same may be
amended or modified from time to time and (ii) "Retirement" shall mean
Employee's resignation from the service of the Company or its Subsidiaries, so
long as Employee does not engage in any employment or consulting activities with
any third party which require in excess of 10 hours per week during the
Repurchase Period.

               (e) The Company's repurchase option set forth in Section 4(c)
above shall terminate upon the consummation of an Initial Public Offering.

               4. Manner of Exercise of Option. The Option may be exercised by
delivery, via first class mail, fax or electronic mail of a Notice of Option
Exercise and related forms to the Company stating the number of Shares with
respect to which the Option is being exercised and accompanied by payment of the
Total Exercise Cost in cash or by check, bank draft or money order payable to
the order of the Company. The Company will cooperate in any reasonable manner
(including cooperating with Employee's broker) to allow Employee to exercise the
Option in any expedient manner, so long as such cooperation does not violate
applicable law or could not result in any adverse consequences to the Company.

                                       3
<PAGE>

               5. Non-Transferability. The right of the Employee to exercise the
Option (as and when exercisable) may not be assigned or transferred by the
Employee other than (i) by will or the laws of descent and distribution or (ii)
with the prior written approval of the Committee (not to be unreasonably
withheld), for estate planning purposes. The Option may be exercised and the
Shares may be purchased during the lifetime of the Employee only by the Employee
(or the Employee's legal representative in the event that the Employee's
employment is terminated due to "disability" as defined in Code Section 22(e) or
any other permitted transferee of the Option). Any attempted assignment or
transfer, except as hereinabove provided, including without limitation any
purported assignment, whether voluntary or by operation of law, pledge,
hypothecation or other disposition contrary to the provisions hereof, or any
levy of execution, attachment, trustee process or similar process, whether legal
or equitable, upon the Option, will in each instance be null and void.

               6. Representation Letter and Investment Legend.

               (a) In the event that for any reason the issuance of the Shares
to be issued upon exercise of an exercisable Option will not be effectively
registered under the Securities Act upon any date on which the Option is
exercised, the Employee (or the person exercising the Option pursuant to
Paragraph 6) will give a written representation to the Company in the form of
paragraph 1 of Exhibit A attached hereto, and the Company will place the
Securities Act legend described in paragraph 2 of Exhibit A upon any certificate
for the Shares issued by reason of such exercise.

               (b) The Company will be under no obligation to qualify Shares or
to cause a registration statement or a post-effective amendment to any
registration statement to be prepared for the purpose of covering the issuance
of Shares.

               7. Adjustments of Shares and Options.

               (a) In the event of any change in the outstanding Shares by
reason of an acquisition, spin-off or reclassification, recapitalization or
merger, combination or exchange of Shares or other corporate exchange, Change of
Control or similar event, the Committee shall adjust appropriately the number or
kind of Shares or securities subject to the Option and exercise prices related
thereto and make such other revisions to the Option as it deems are equitably
required.

               (b) With respect to any merger or consolidation of the Company
into another corporation, the sale or exchange of all or substantially all of
the assets of the Company, a Change of Control or the recapitalization,
reclassification, liquidation or dissolution of the Company or any other similar
fundamental transaction involving the Company or any of its Subsidiaries (any of
the foregoing, a "Qualifying Event"), the

                                       4
<PAGE>

Committee shall provide either: (i) that the Option cannot be exercised after
such Qualifying Event, provided that nothing in this Section 7(b) shall prohibit
Employee from exercising any then exercisable portion of the Option (including
any portion thereof which will become exercisable by virtue of such Qualifying
Event) prior to, or simultaneously with, the occurrence of such Qualifying Event
and that, upon the occurrence of such Qualifying Event, the Option will
terminate and be of no further force or effect and no longer be outstanding;
(ii) that the Option will remain outstanding after such Qualifying Event, and
from and after the consummation of such Qualifying Event, the Option will be
exercisable for the kind and amount of securities and/or other property
receivable as a result of such Qualifying Event by the holder of a number of
Shares for which the Option could have been exercised immediately prior to such
Qualifying Event; or (iii) the then exercisable portion of the Option (including
any portion thereof which will become exercisable by virtue of such Qualifying
Event) will be repurchased by the Company at a specific price (it being agreed
that, with respect to each Share for which all or any portion of the Option is
then exercisable, such specific price shall be equal to the Fair Market Value of
such Share less the applicable Exercise Price) and that, upon the occurrence of
such Qualifying Event, the Option will terminate and be of no further force or
effect and no longer be outstanding. In the event of any conflict or
inconsistency between the terms and conditions of this Section 7(b) and the
terms and conditions of Section 8 of the Plan, the terms and condition of this
Section 7(b) shall control.

               8. No Special Employment Rights. Nothing contained in this
Agreement will be construed or deemed by any person under any circumstances to
bind the Company or any of its Subsidiaries to continue the employment of the
Employee for the period within which this Option may vest or for any other
period.

               9. Rights as a Shareholder. The Employee will have no rights as a
shareholder with respect to any Shares which may be purchased upon the exercise
of this Option unless and until a certificate or certificates representing such
Shares are duly issued and delivered to the Employee.

               10. Withholding Taxes. The Employee hereby agrees, as a condition
to any exercise of the Option, to provide to the Company an amount sufficient to
satisfy its obligation to withhold certain federal, state and local taxes
arising by reason of such exercise (the "Withholding Amount"), if any, by (a)
authorizing the Company to withhold the Withholding Amount from the Employee's
cash compensation, or (b) remitting the Withholding Amount to the Company in
cash; provided that, to the extent that the Withholding Amount is not provided
by one or a combination of such methods, the Company may at its election
withhold from the Shares delivered upon exercise of the Option that number of
Shares having a Fair Market Value as of the date immediately prior to the
issuance of such Shares equal to the Withholding Amount.

                                       5
<PAGE>

               11. Execution of Shareholders' Agreement. The Employee
acknowledges that, in connection with his or her prior or future purchase of
Shares of the Company, unless such Shareholders' Agreement is no longer in
effect, he or she will execute and deliver the Shareholders' Agreement or a
joinder or counterpart signature page thereto. The Employee further agrees that
all Shares acquired by such Employee upon exercise of the Option will be subject
to the terms and conditions of the Shareholders' Agreement, if then in effect,
as modified hereby.

               12. Lock-Up Agreements. The Employee agrees that notwithstanding
anything to the contrary contained in this Agreement, in the event of an Initial
Public Offering or any other public offering of securities of the Company,
except to the extent that: (a) the Employee sells his or her Shares obtained
upon the exercise of the Option to the underwriters of the Company's securities
in connection with such offering or (b) the underwriters do not require the
following restrictions of all of the Company's directors and officers, such
Employee shall not (i) offer, hedge, pledge, sell or contract to sell any such
Shares, (ii) sell any option or contract to purchase any Shares, (iii) purchase
any option or contract to sell any Shares, (iv) grant any option, right or
warrant for the sale of any Shares, or (v) lend or otherwise dispose of or
transfer any Shares during the longer of (A) any black-out period requested by
underwriters conducting any such public offering of securities on behalf of the
Company and (B) during the seven days prior to and during the 180 day period
beginning on the effective date of such initial public offering or other public
offering of securities; provided, however, that such Employee shall, in any
event, be entitled to sell his or her Shares commencing on the expiration of the
black-out period described in the aforementioned clause (A) or (B).

                                    *********

                         [Signatures on Following Page]

                                       6
<PAGE>

                                OPTION AGREEMENT

                           Counterpart Signature Page

               IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed, by its officer thereunto duly authorized, and the Employee has
executed this Agreement, all as of the day and year first above written.

WH HOLDINGS                                 EMPLOYEE
(CAYMAN ISLANDS) LTD.

By: /s/ STEPHAN KALUZNY                     /s/ BRIAN KANE
   --------------------------------         ------------------------------------
    Title: Director                         BRIAN KANE

Stephan Kaluzny
-----------------------------------         Address:
(print name)

                                            c/o Herbalife International, Inc.
                                            1800 Century Park East
                                            Los Angeles, CA 90067
                                            Facsimile Number: (310) 557-3906

                                       7
<PAGE>

                                    EXHIBIT A

TO:  WH HOLDINGS (CAYMAN ISLANDS) LTD.

               The undersigned hereby irrevocably exercises the right to
purchase ______________ of the Common Shares, par value $0.001 per share
("Common Shares") of WH Holdings (Cayman Islands) Ltd., a Cayman Islands company
(the "Company"), evidenced by the attached Option, and herewith makes payment of
the relevant exercise price with respect to such shares in full, all in
accordance with the conditions and provisions of said Option.

               1. The undersigned hereby represents and warrants to and agrees
with the Company as follows:

               (a) The undersigned understands and acknowledges that an
investment in the Common Shares issuable upon exercise of this Option involves a
high degree of risk and that there are limitations on the liquidity of the
Common Shares issuable upon exercise of this Option. The undersigned is able to
bear the economic risk of an investment in the Common Shares issuable upon
exercise of this Option. The undersigned has adequate means of providing for the
undersigned's current needs and contingencies; is able to afford to hold the
Common Shares issuable upon exercise of this Option for an indefinite period;
and has such knowledge and experience in financial and business matters such
that the undersigned is capable of evaluating the merits and risks of the
investment in the Common Shares issuable upon exercise of this Option;

               (b) The undersigned is acquiring the Common Shares issuable upon
exercise of this Option for its own account for investment and not as a nominee
and not with a present view to the distribution thereof in violation of the
Securities Act of 1933, as amended (the "1933 Act"). The undersigned understands
that the undersigned must bear the economic risk of this investment indefinitely
unless such shares are registered pursuant to the 1933 Act and any applicable
state securities laws, or an exemption from such registration is available. The
undersigned has no plan or intention to sell the Common Shares issuable upon
exercise of this Option at any predetermined time, and has made no predetermined
arrangements to sell such shares;

               (c) The undersigned will not make any sale, transfer or other
disposition of the Common Shares issuable upon exercise of this Option in
violation of (1) the 1933 Act, the Securities Exchange Act of 1934, as amended,
any other applicable Federal or state securities laws or the rules and
regulations of the Securities and Exchange Commission or of any state securities
commissions or similar state authorities promulgated under any of the foregoing,
or (2) any applicable securities laws of jurisdictions outside the United States
and the rules and regulations thereunder.

                                       1
<PAGE>

               2. The undersigned agrees not to offer, sell, transfer or
otherwise dispose of any of the Common Shares obtained on exercise of the
Option, except in accordance with the provisions of the Option, and consents
that the following legend may be affixed to the stock certificates for the
Common Shares hereby subscribed for, if such legend is applicable:

        "THE SALE, TRANSFER OR ENCUMBRANCE OF THE SECURITIES REPRESENTED BY THIS
        CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS OF A SHAREHOLDERS'
        AGREEMENT, DATED AS OF JULY 31, 2002 AMONG WH HOLDINGS (CAYMAN ISLANDS)
        LTD. AND CERTAIN HOLDERS OF ITS OUTSTANDING SHARE CAPITAL, AS SUCH
        AGREEMENT MAY BE AMENDED. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO
        COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE
        TO THE SECRETARY OF WH HOLDINGS (CAYMAN ISLANDS) LTD.

        The securities represented hereby have not been registered under the
        Securities Act of 1933, as amended (the "1933 Act"), or any provincial
        or state securities law, and may not be sold, transferred, pledged,
        hypothecated or otherwise disposed of until a registration statement
        under the 1933 Act and applicable provincial or state securities laws
        shall have become effective with regard thereto, or an exemption from
        registration under the 1933 Act or applicable provincial or state
        securities laws is available in connection with such offer, sale or
        transfer."

               3. The undersigned requests that stock certificates for such
shares be issued, and a new option agreement representing any unexercised
portion hereof be issued in the name of the registered holder and delivered to
the undersigned at the address set forth below:

Dated:

-----------------------------------
Signature of Registered Holder

-----------------------------------
Name of Registered Holder (Print)

                                       2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]