Document:

Form of Warrant

 WARRANT AGREEMENT 
  
 THIS WARRANT AGREEMENT (the “Agreement”) is entered into as of July [    ], 2004
by and between WORLD HEALTH ALTERNATIVES, INC., a Florida corporation (the “Company”) and the Holders (the “Holders”) identified on the Schedule of Holders attached hereto as Exhibit A (the “Schedule of
Holders”). 
  
 WITNESSETH: 
  
 WHEREAS, pursuant to that certain Stock and Warrant Purchase Agreement dated
as of July     , 2004 by and among the Company and the Holders (the “Purchase Agreement”), the Company has agreed to sell to the Holders, and the Holders have agreed to purchase from the Company, up to
5,000,000 shares of Common Stock (as defined below) and warrants to purchase up to 1,500,000 shares of the Common Stock (the “Warrants”); and 
  

WHEREAS, it is a condition to the closing of the purchase and sale transactions set forth in the Purchase Agreement that the Company execute and
deliver this Agreement and provide for the terms and conditions applicable to the Warrants set forth herein. 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 Section 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to
them in the Purchase Agreement. 
  
 “Board of
Directors” means the board of directors of the Company. 
  
 “Cashless Exercise” has the meaning set forth in Section 3(c). 
  
 “Charter” means the Articles of Incorporation of the Company, as amended from time to time. 
  
 “Closing Price” has the meaning set forth in Section 9(b). 
  
 “Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations thereunder.

  
 “Common Stock” means (a) the common stock,
par value $0.0001 per share, of the Company and (b) any other capital stock into which such common stock is reclassified or reconstituted. 
  
 “Company Stock Plan” means the 2003 Stock Grant Plan of the Company. 
  
 “Convertible Securities” means instruments of indebtedness or any shares of capital stock or securities of
the Company which are directly or indirectly convertible or exchangeable, with 

  

 
or without payment of additional consideration in cash or property, for shares of Common Stock, either immediately or upon the onset of a specified date or
the happening of a specified event. 
  
 “Election to
Purchase” has the meaning set forth in Section 3(a). 
  
 “Exercise Amount” has the meaning set forth in Section 3(a). 
  
 “Exercise Payment” has the meaning set forth in Section 3(a). 
  
 “Exercise Price” has the meaning set forth in Section 2. 
  
 “Expiration Date” means the third (3rd) anniversary of the date hereof. 
  
 “Fair Market Value” means either (i) the Market Price (as
defined below), if any, of a share of Common Stock or (ii) if no Market Price exists, the value (which shall not take into effect any minority discounts) of a share of Common Stock as determined by a nationally recognized investment banking firm or
accounting firm designated by a Two-Thirds Interest and reasonably acceptable to the Company; provided that if the parties cannot agree on such a firm, the Company and a Two-Thirds Interest (as defined below) shall each choose a nationally
recognized investment banking firm, which shall choose a third nationally recognized firm and that third firm shall determine the Fair Market Value, which determination shall be final and binding on all of the parties hereto. The cost relating to
retaining any such firm(s) pursuant to this definition shall be borne by the Company. 
  
 “Initial Exercise Price” has the meaning set forth in Section 2. 
  
 “Mandatory Exercise Date” has the meaning set forth in Section 9(a). 
  
 “Mandatory Exercise Event” has the meaning set forth in Section 9(a). 
  
 “Mandatory Exercise Notice” has the meaning set forth in
Section 9(a). 
  
 “Market Price” of any security
means the value determined in accordance with the following provisions: 
  
 (i) if such security is listed on a national securities exchange registered under the Exchange Act, a price equal to the average of the closing sales prices for such security on such exchange for each day during the
twenty (20) consecutive trading days immediately preceding the date in question; and 
  
 (ii) if such security is not so listed, and such security is quoted on the Nasdaq National Market, the Nasdaq Small Cap Market or the OTC
Bulletin Board, a price equal to the average of the closing bid and asked prices for such security quoted on such system each day during the twenty (20) consecutive trading days immediately preceding the date in question. 
  
 “Options” means all options, warrants and other rights for
the purchase or other acquisition of Common Stock or Convertible Securities. 
  

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 “Principal Office” means the Company’s principal office as set forth in Section
10(g) hereof or such other principal office of the Company in the United States of America as the Company may designate in a notice to the Holders. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement dated as of the date hereof between the Company and the Holders.

  
 “Regulatory Requirement” has the meaning set
forth in Section 6(b). 
  
 “Stock Combination”
has the meaning set forth in Section 7. 
  
 “Stock
Dividend” has the meaning set forth in Section 7. 
  
 “Stock Subdivision” has the meaning set forth in Section 7. 
  
 “Trading Day” has the meaning set forth in Section 9(b). 
  
 “Transaction” has the meaning set forth in Section 7(b). 
  
 “Two-Thirds Interest” has the meaning set forth in Section 7. 
  
 “Warrant Shares” means (a) the fully paid and nonassessable
shares of Common Stock issued upon exercise of the Warrants in accordance with the terms and conditions hereunder and (b) all other shares of the Company’s capital stock issued with respect to such shares by way of stock dividend, stock split
or other reclassification or in connection with any merger, consolidation, recapitalization or other reorganization affecting the Company’s capital stock. 
  

Section 2. Issuance of Warrant. In connection with the Purchase Agreement and subject to the terms and conditions of this Agreement, the Company
hereby issues and delivers to the Holders Warrants in the form attached hereto as Exhibit B to purchase up to 1,500,000 shares of Common Stock subject to adjustment or readjustment from time to time as provided herein, at a base exercise
price per share equal to $3.50 (the “Initial Exercise Price”), subject to adjustment or readjustment from time to time as provided herein (the “Exercise Price”). 
  
 Section 3. Exercise of Warrant. 
  
 (a) Exercise. At any time on or after the date hereof
and before the Expiration Date, a Holder, in accordance with the terms hereof, may exercise its Warrant, in whole or in part (except as to a fractional share), by (i) delivering such Warrant to the Company during normal business hours on any
Business Day at the Company’s Principal Office, together with an election to purchase in the form attached hereto as Exhibit C (the “Election to Purchase”), duly executed by such Holder, specifying the number of Warrant
Shares (without giving effect to any adjustment thereto) to be issued to such Holder as a result of such exercise (the “Exercise Amount”), (ii) surrendering the Warrant to the Company, properly endorsed by such Holder (or if the
Warrant has been destroyed, stolen or has otherwise been misplaced, by delivering to the Company an affidavit of loss duly executed by such Holder), and (iii) subject to Section 3(c), by tendering payment for the Warrant Shares designated by the
Exercise Notice in an amount equal to the product of (A) the Exercise Price times (B) the Exercise Amount (the “Exercise  

  

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Payment”). If the Expiration Date is not a Business Day, then such Warrant may be exercised on the next succeeding Business Day.

  
 (b) Payment of Exercise
Price. Payment of the Exercise Payment shall be made to the Company in cash or other immediately available funds, or as provided in Section 3(c), or by a combination thereof. In the case of payment of all or a portion of the Exercise Payment
pursuant to Section 3(c), the direction by a Holder to make a Cashless Exercise (as defined below) shall serve as accompanying payment for that portion of the Exercise Price. 
  
 (c) Net Exchange. 
  
 (i) If at any time after the date hereof the Company fails to maintain an effective Shelf Registration
Statement with respect to the Warrant Shares in accordance with the terms and conditions of the Registration Rights Agreement, a Holder may elect, in lieu of exercising or converting any Warrant pursuant to the terms of Section 3(b), to exchange
such Warrant pursuant to this Section 3(c) (a “Cashless Exercise”), in whole or in part (except as to a fractional share), during normal business hours on any Business Day that such registration statement is not effective on or
prior to the Expiration Date, by (i) delivering to the Company an Election to Purchase, duly executed by the Holder, specifying the number of Warrant Shares (without giving effect to any adjustment thereto) to be issued to the Holder as a result of
such exchange and (ii) surrendering such Warrant to the Company, properly endorsed by the Holder (or if the Warrant has been destroyed, stolen or has otherwise been misplaced, by delivering to the Company an affidavit of loss duly executed by the
Holder), and the Holder shall thereupon be entitled to receive the number of Warrant Shares equal to the product of (A) the number of Warrant Shares issuable upon exercise of such Warrant (or, if only a portion of such Warrant is being exercised,
issuable upon the exercise of such portion) for cash, determined as provided in Section 3(b), times (B) a fraction, the numerator of which is the Fair Market Value per share of Common Stock at the time of such exercise minus the
Exercise Price in effect at the time of such exercise, and the denominator of which is the Fair Market Value per share of Common Stock at the time of such exercise, such number of shares so issuable upon such exchange to be rounded up or down to the
nearest whole number of shares of Common Stock. 
  
 (ii) The “exchange” of any Warrant pursuant to this Section 3(c) is intended to qualify as a recapitalization within the meaning of Section 368(a)(1)(E) of the Code. 
  
 (iii) For all purposes of any Warrant (other than this Section 3(c)), any reference herein to the
“exercise” of such Warrant shall be deemed to include a reference to the exchange of such Warrant into Common Stock in accordance with the terms of this Section 3(c). 
  
 (d) Issuance of Shares of Common Stock. Upon receipt by the Company of a Holder’s Warrant at the
Principal Office for exercise with respect to the Exercise Amount, and accompanied by payment of the Exercise Payment as aforesaid, such Holder shall be deemed to be the holder of record of the Warrant Shares issuable upon such exercise,
notwithstanding that 

  

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certificates representing such Warrant Shares may not then be actually delivered. As soon as practicable after exercise of such Warrant in accordance Section
3(a), but in no event later than five (5) Business Days after such exercise, the Company shall at its expense issue and cause to be delivered to, or upon the written order of, such Holder a certificate or certificates for the Exercise Amount,
subject to any reduction as provided in Section 3(c), if applicable. 

  
 (e) Fractional Shares. The Company shall not be required to deliver fractions of shares of Common Stock upon exercise of any
Warrant. If any fraction of a share of Common Stock would be deliverable upon exercise of a Warrant, the Company may, in lieu of delivering such fraction of a share of Common Stock, make a cash payment to the affected Holder in an amount equal to
the proportionate amount of the Fair Market Value per share as of the Business Day immediately preceding the date of exercise of such Warrant. 
  
 (f) Partial Exercise. In the event of a partial exercise of any Warrant, the Company shall issue to the affected Holder a Warrant
in like form for the unexercised portion thereof following the issuance of a certificate or certificates for Warrant Shares in the amount of the Exercise Amount pursuant to Section 3(d). 
  
 (g) No Rights or Liabilities as a Stockholder. Except as expressly set forth herein, nothing
contained herein or in any Warrant shall be construed as conferring upon any Holder any rights as a stockholder of the Company or as imposing any obligation on such Holder to purchase any securities or as imposing any liabilities on such Holder as a
stockholder of the Company, whether such obligation or liabilities are asserted by the Company or creditors of the Company. 
  
 Section 4. Payment of Taxes. The Company shall pay all stamp taxes attributable to the initial issuance of Warrant Shares or other securities
issuable upon the exercise of each Warrant, excluding any tax or taxes which may be payable because of the transfer involved in the issuance or delivery of any certificates for shares or other securities in a name other than that of the Holder in
respect of which such shares or securities are issued. 
  
 Section
5. Replacement Warrant. If any Warrant is mutilated, lost, stolen or destroyed, the Company shall issue and deliver in exchange and substitution for and upon cancellation of the mutilated Warrant, or in lieu of and in substitution for the
Warrant lost, stolen or destroyed, a new Warrant of like tenor and representing an equivalent right or interest upon receipt of (i) evidence reasonably satisfactory to the Company of such loss, theft or destruction of such Warrant and (ii) an
indemnity reasonably satisfactory to the Company; provided, however, that if the Holder is a financial institution or other institutional investor an indemnity agreement of such Holder shall constitute such reasonably satisfactory
indemnity. 
  
 Section 6. Covenants of the Company.

  
 (a) Reservation of Authorized Common
Stock. The Company shall at all times reserve and keep available out of the aggregate of its authorized but unissued shares of capital stock such number of its duly authorized shares of Common Stock and other securities as shall be sufficient to
enable the Company at any time to fulfill all of its obligations under this Agreement and the Warrants. 
  

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 (b) Affirmative Actions to Permit Exercise and Realization of Benefits. If any
shares of Common Stock reserved or to be reserved for the purpose of issuance as Warrant Shares, or any shares or other securities reserved or to be reserved for the purpose of issuance pursuant to Section 7 hereof, require registration with or
approval of any governmental authority under any federal or state law, statute, rule, regulation, guideline, order, court or administrative ruling, request or directive, or any rule or regulation of the Nasdaq National Market (whether or not having
the force of law and whether or not failure to comply therewith would be unlawful) (collectively, a “Regulatory Requirement”) before such Warrant Shares or other shares or other securities may be validly issued and delivered upon
exercise of any Warrant, then the Company covenants and agrees that it will, at its sole cost and expense, promptly secure such registration or approval, as the case may be. 
  
 (c) Regulatory Requirements and Restrictions. In the event of any reasonable determination by any
Holder that, by reason of any Regulatory Requirement, such Holder is effectively restricted or prohibited from holding its Warrant or the related Warrant Shares (including any shares of capital stock or other securities distributable to such Holder
in any merger, reorganization, readjustment or other reclassification), or otherwise realize upon or receive the benefits intended to be conferred on such Holder under its Warrant, then the Company shall take and shall use its reasonable efforts to
cause its shareholders to take, such actions as such Holder may deem reasonably necessary to permit such Holder to comply with such Regulatory Requirement. All costs of taking such action, whether by the Company, the affected Holder or otherwise,
shall be borne by such Holder. Such action to be taken may include, without limitation, the Company’s authorization of one or more new classes of non-voting or other capital stock for which such Warrant may be exercised, and such modifications
and amendments to the Charter, this Agreement, the applicable Warrant or any other documents and instruments related to or executed in connection herewith or with such Warrant as may be deemed reasonably necessary by such Holder. Such Holder shall
give written notice to the Company of any such determination and the action or actions it deems necessary to comply with such Regulatory Requirement, which notice and determination shall be conclusive absent manifest error, and the Company shall
take all reasonable steps necessary to comply with such determination as expeditiously as possible. 
  
 (d) Validly Issued Shares. The Company covenants and agrees that all shares of Common Stock that may be issued and delivered upon
exercise of the Warrant shall upon issuance and delivery by the Company be duly authorized and validly issued, fully paid and nonassessable and not subject to any preemptive or other similar rights that have not been waived, free from all taxes,
liens and charges with respect to the issuance or delivery thereof and otherwise free of all other security interests, encumbrances and claims of any nature whatsoever. 
  
 (e) Securities Law Reporting Requirements. The Company covenants and agrees that it will comply with
the reporting requirements of Sections 13 and 15(d) of the Exchange Act and with all other public information reporting requirements of the Commission (including Rule 144 promulgated under the Securities Act) from time to time in effect and relating
to the availability of an exemption from the Securities Act for the sale of restricted securities. 
  

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 (f) No Impairment. The Company will not, by amendment of its Charter or through
any reorganization, recapitalization, transfer of assets, consolidation, merger, share exchange, dissolution or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Agreement, including without
limitation the adjustments required under Section 7 hereof, and will at all times in good faith assist in the carrying out of all such terms. Without limiting the generality of the foregoing and notwithstanding any other provision of this Agreement
to the contrary, the Company (a) will not increase the par value of any shares of Common Stock receivable on the exercise of any Warrant above the amount payable therefor on such exercise and (b) will take all such action as may be necessary or
appropriate so that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock on the exercise of any Warrant. The Company covenants and agrees that it shall not, without the prior written consent of each Holder,
enter into or agree to become subject to any term, condition, provision or agreement that would restrict in any material way the performance of the Company’s obligations under this Agreement or any Warrant issued hereunder. The Company
represents to each Holder that the Company is not subject to or bound by any such term, condition, provision or agreement as of the date hereof. 
  
 Section 7. Adjustments and Notices. 
  
 (a) Adjustments. The Exercise Price and the number of Warrant Shares issuable upon the exercise of each Warrant, after taking into
consideration any prior adjustments pursuant to this Section 7, shall be subject to adjustment and readjustment from time to time as follows. 
  
 (i) Stock Subdivisions and Combinations. In case at any time or from time to time the Company shall: 
  
 (A) take a record of the holders of its Common Stock for
the purpose of entitling them to receive a dividend payable in, or other distribution of, Common Stock (a “Stock Dividend”), 
  
 (B) subdivide its outstanding shares of Common Stock into a greater number of shares of Common Stock, including without limitation by
means of a stock split or otherwise (a “Stock Subdivision”), or 
  
 (C) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock by mean of a reverse stock split or
otherwise (a “Stock Combination”), 
  
 then (1)
in the case of a Stock Dividend or a Stock Subdivision, the number of Warrant Shares issuable upon the exercise of such Warrant immediately prior thereto shall be proportionately increased and the Exercise Price in effect immediately prior thereto
shall be proportionately decreased, and (2) in the case of a Stock Combination, the number of Warrant Shares issuable upon the Exercise of such Warrant immediately prior thereto shall be proportionately decreased and the Exercise Price in effect
immediately prior thereto shall be proportionately increased. In the event the Company shall declare or pay, without consideration, any dividend on the Common Stock payable in any right to 

  

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acquire Common Stock for no consideration, then the Company shall be deemed to have made a Stock Dividend in an amount of shares equal to the maximum number
of shares issuable upon exercise of such rights to acquire Common Stock, and the Exercise Price and the number of Warrant Shares issuable upon the exercise of such Warrant shall be adjusted in accordance with clause (1) of the preceding sentence.

  
 A reclassification of the Common Stock into
shares of Common Stock and shares of any other class of stock shall be deemed a distribution by the Company to the holders of its Common Stock of such shares of such other class of stock and, if the outstanding shares of Common Stock shall be
changed into a larger or smaller number of shares of Common Stock as a part of such reclassification, such event shall be deemed a Stock Subdivision or Stock Combination, as the case may be, of the outstanding shares of Common Stock within the
meaning of Section 7(a)(i) hereof. 
  
 (ii)
Issuance of Common Stock. Except as provided in Section 7(a)(viii) or in the case of an event described in Section 7(a)(i): 
  
 (A) if at any time prior to the effectiveness of the Shelf Registration Statement (as such term is defined in the Registration Rights
Agreement) filed pursuant to the terms and conditions of the Registration Rights Agreement, the Company issues or sells, or is, in accordance with this Section 7, deemed to have issued or sold, any shares of Common Stock for consideration that on a
per share basis is less than the Exercise Price in effect immediately prior to such issuance or sale, then, upon such issuance or sale (or deemed issuance or sale), the Exercise Price shall be reduced to the price per share receivable by the Company
for such issuance or sale (or deemed issuance or sale), as the case may be; and 
  
 (B) if at any time thereafter the Company issues or sells, or is, in accordance with this Section 7, deemed to have issued or sold, any
shares of Common Stock for consideration that on a per share basis less than the Exercise Price in effect immediately prior to such issuance or sale, then, upon such issuance or sale (or deemed issuance or sale), the Exercise Price shall be reduced
to the price determined by dividing (x) the sum of (A) the Common Stock Deemed Outstanding (as defined below) immediately prior to such issuance or sale (or deemed issuance or sale) multiplied by the Exercise Price then in effect and (B) the
aggregate consideration, if any, received by the Company upon such issuance or sale (or deemed issuance or sale) by (y) the Common Stock Deemed Outstanding immediately after such issuance or sale (or deemed issuance or sale). 
  
 The date as of which the Exercise Price shall be computed
shall be the earlier of the date on which the Company shall enter into a contract or commitment for the issuance of such additional shares of Common Stock or the date of actual issuance of such additional shares of Common Stock. The provisions of
this Section 7(a)(ii) shall not apply to any issuance of additional shares of Common Stock for which an adjustment is otherwise provided under Section 7(a)(i) hereof. 
  

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 For purposes of this Agreement, the term “Common Stock Deemed
Outstanding” shall mean the sum of (A) the number of shares of Common Stock outstanding immediately prior to the date hereof (including for this purpose all shares of Common Stock issuable upon exercise or conversion of all outstanding
Options or Convertible Securities) plus (B) the number of shares of Common Stock issued or sold (or deemed issued or sold) after the date hereof, the issuance or sale of which resulted in an adjustment to the Exercise Price pursuant to
Section 7(a)(ii) plus (C) the number of shares of Common Stock deemed issued or sold pursuant to Section 7(a)(vii)(A); provided, that Common Stock Deemed Outstanding shall not include (i) the Warrants, (ii) the Warrant Shares issued
pursuant to such Warrants, or (iii) shares of capital stock owned or held by or for the account of the Company (except that the disposition of any such shares owned or held by or for the account of the Company shall be considered an issuance or sale
of Common Stock for the purpose of this Section 7(a)). 
  
 (iii) Issuance of Rights or Options. If the Company, at any time after the date hereof, in any manner, grants any Options or Convertible Securities, in each case for consideration per share of Common Stock issuable in respect thereof
(determined as provided in this paragraph and in Section 7(a)(vi)) less than the Exercise Price then in effect, whether or not such Options or Convertible Securities are immediately exercisable, convertible, or exchangeable, then the total maximum
number of shares of Common Stock issuable upon the exercise of such Options, or upon conversion or exchange of the total maximum amount of such Convertible Securities issuable upon exercise of such Options, shall be deemed to have been issued as of
the date of granting of such Options, at a price per share equal to the amount determined by dividing (A) the total amount, if any, received or receivable by the Company as consideration for the issuance of such Options, plus the minimum
aggregate amount of additional consideration payable to the Company upon the exercise of all such Options, plus, in the case of such Options that relate to Convertible Securities, the minimum aggregate amount of additional consideration, if
any, payable upon the issuance or sale of such Convertible Securities and upon the conversion or exchange of Convertible Securities, by (B) the total maximum number of shares of Common Stock deemed to have been so issued. Except as otherwise
provided in Section 7(a)(v), no adjustment of the Exercise Price shall be made upon the actual issuance of such Common Stock or of such Convertible Securities upon exercise of such Options or upon the actual issuance of such Common Stock upon
conversion or exchange of such Convertible Securities.  
  
 (iv) Issuance of Convertible Securities. If the Company, at any time after the date hereof, in any manner, issues or sells any Convertible Securities for consideration per share of Common Stock issuable in
respect thereof (determined as provided in this paragraph and in Section 7(a)(vi)) less than the Exercise Price then in effect, whether or not the right to exchange or convert any such Convertible Securities is immediately exercisable, then the
total maximum number of shares of Common Stock issuable upon conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of the date of the issuance or sale of such Convertible Securities, at a price per share
equal to the amount determined by dividing (A) the total amount, if any, received or receivable by the Company as consideration for the issuance or sale of such Convertible Securities, plus the minimum aggregate amount of additional
consideration,  

  

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if any, payable to the Company upon the conversion or exchange thereof, by (B) the total maximum number of shares of Common Stock deemed to have been so
issued; provided, however, that (1) except as otherwise provided in Section 7(a)(v), no adjustment of the Exercise Price shall be made upon the actual issuance of such Common Stock upon conversion or exchange of such Convertible
Securities and (2) if any such issuance or sale of such Convertible Securities is made upon exercise of any Options to purchase any such Convertible Securities, no further adjustment of the Exercise Price shall be made by reason of such issuance or
sale.  
  
 (v) Change in Option Price
or Conversion Rate; Termination of Options or Convertible Securities. If a change occurs in (A) the maximum number of shares of Common Stock issuable in connection with any Option referred to in Section 7(a)(iii) or any Convertible Securities
referred to in Section 7(a)(iii) or (iv), (B) the purchase price provided for in any Option referred to in Section 7(a)(iii), (C) the additional consideration, if any, payable upon the conversion or exchange of any Convertible Securities referred to
in Section 7(a)(iii) or (iv), or (D) the rate at which Convertible Securities referred to in Section 7(a)(iii) or (iv) are convertible into or exchangeable for Common Stock (in each case, other than in connection with an event described in Section
7(a)(viii)), then the Exercise Price in effect at the time of such event shall be readjusted to the Exercise Price that would have been in effect at such time had such Options or Convertible Securities that remain outstanding provided for such
changed maximum number of shares, purchase price, additional consideration or conversion rate, as the case may be, at the time initially granted, issued or sold, but only if as a result of such adjustment the Exercise Price then in effect is thereby
reduced. Upon the termination of any such Option or any such right to convert or exchange such Convertible Securities, the Exercise Price then in effect hereunder shall be increased to the Exercise Price that would have been in effect at the time of
such termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such termination (i.e., to the extent that fewer than the number of shares of Common Stock deemed to have been issued in connection
with such Option or Convertible Securities were actually issued), never been issued or been issued at such higher price, as the case may be. 
  
 (vi) Consideration for Stock. In case any shares of Common Stock are issued or sold, or deemed issued or sold, for cash, the
consideration received therefor shall be deemed to be the amount received or to be received by the Company therefor (determined with respect to deemed issuances and sales in connection with Options and Convertible Securities in accordance with
clause (A) of Section 7(a)(iii) or Section 7(a)(iv), as applicable) determined in the manner set forth below in this Section 7(a)(vi). If any shares of Common Stock are issued or sold, or deemed issued or sold, for a consideration other than cash,
then the amount of the consideration other than cash received by the Company shall be deemed to be the fair market value of such consideration received or to be received by the Company (determined with respect to deemed issuances and sales in
connection with Options and Convertible Securities in accordance with clause (A) of Section 7(a)(iii) or Section 7(a)(iv), as applicable) as determined in good faith by the Board of Directors and Holders holding Warrants representing at least
66 2/3% of the Warrant Shares issuable upon exercise of all 

  

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outstanding Warrants (a “Two-Thirds Interest”); provided that if the Company and a Two-Thirds Interest are unable to reach agreement
as to the value of such consideration, then the value thereof will be determined by an independent appraisal by a mutually agreed to investment banker, the fees of which shall be borne by the Company. If any Options are issued in connection with the
issuance and sale of other securities of the Company, together comprising one integral transaction in which no specific consideration is allocated to such Options by the parties thereto, such Options shall be deemed to have been issued for such
consideration as determined in good faith by the Board of Directors and a Two-Thirds Interest; provided that if the Company and a Two-Thirds Interest are unable to reach agreement as to the value of such consideration, then the value thereof
will be determined by an independent appraisal by a mutually agreed to investment banker, the fees of which shall be paid by the Company. 
  
 (vii) Other Issuances or Sales; Indeterminable Amounts. In calculating any adjustment to the Exercise Price pursuant to this
Section 7(a), (A) any shares of Common Stock, Options or Convertible Securities issued or sold (or deemed issued or sold pursuant to Section 7(a)(iii) or Section 7(a)(iv), as the case may be) after the date hereof and prior to the effective date of
such adjustment, the issuance or sale (or deemed issuance or sale) of which did not result in any adjustment to the Exercise Price under this Section 7(a), shall be deemed to have been issued or sold as part of the issuance or sale (or deemed
issuance or sale) giving rise to such adjustment for the same consideration per share as the Company received in the issuance or sale (or deemed issuance or sale) giving rise to such adjustment and (B) any Options or Convertible Securities that
provide, as of the effective date of such adjustment, for the issuance upon exercise or conversion thereof of an indeterminable number of shares of Common Stock shall (together with the shares of Common Stock issuable upon exercise or conversion
thereof) be disregarded for purposes of the calculation of Common Stock Deemed Outstanding; provided, that at such time as a number of shares of Common Stock issuable upon exercise or conversion of such Options or Convertible Securities
becomes determinable, then the Exercise Price shall be adjusted as provided in Section 7(a)(v). 
  
 (viii) Certain Issues of Common Stock Excepted . Notwithstanding anything provided herein to the contrary, no adjustment to the
Exercise Price shall be made in the case of an issuance from and after the date hereof of (i) shares of Common Stock issued upon exercise of the Warrants; (ii) shares of Common Stock issued upon exercise of any warrants of the Company outstanding as
of the date hereof; (iii) shares of Common Stock or Convertible Securities to directors, officers, employees or consultants of the Company in connection with their service as directors of the Company, their employment by the Company or their
retention as consultants by the Company, in each case, as authorized by the Board of Directors and issued pursuant to the Company Stock Plan; or (iv) shares of Common Stock or Convertible Securities issued as consideration in connection with the
acquisition or merger of another Person or business or assets of another Person that, in each case, has been authorized by the Board of Directors. 
  
 (ix) Miscellaneous. The adjustments required by the preceding paragraphs of this Section 7(a) shall be made whenever and as often
as any specified event requiring an adjustment shall occur, except that no adjustment to the number of 

  

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Warrant Shares issuable upon the exercise of each Warrant that would otherwise be required shall be made (except in the case of a Stock Dividend, Stock
Subdivision or Stock Combination, as provided for in Section 7(a)(i) hereof) unless and until such adjustment either by itself or together with other adjustments not previously made adds or subtracts at least one half of one share to or from the
number of Warrant Shares issuable upon the exercise of such Warrant immediately prior to the making of such adjustment, or adds or subtracts at least one cent to or from the Exercise Price immediately prior to the making of such adjustment. Any
adjustment to the number of Warrant Shares issuable upon the exercise of such Warrant or to the Exercise Price representing a change of less than such minimum amount (except as aforesaid) shall be carried forward and made as soon as such adjustment,
together with other adjustments required by this Section 7(a) and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date
of its occurrence. 

  
 (b)
Reorganization, Merger, etc. In case at any time the Company shall initiate any transaction or be a party to any transaction (including, without limitation, a merger, consolidation, share exchange, sale, lease or other disposition of all or
substantially all of the Company’s assets, liquidation, recapitalization or reclassification of the Common Stock) in connection with which the Common Stock shall be changed into or exchanged for different securities of the Company or capital
stock or other securities of another corporation or interests in a non-corporate entity or other property (including cash) or any combination of the foregoing (each such transaction being herein called a “Transaction”), then, as a
condition of the consummation of such Transaction, lawful, enforceable and adequate provisions shall be made so that such Holder shall be entitled to elect by written notice to the Company to receive (i) a new warrant in form and substance similar
to, and in exchange for, its Warrant(s) to purchase all or a portion of such securities or other property, or (ii) upon exercise of its Warrant(s) at any time on or after the consummation of the Transaction, in lieu of the shares of Common Stock
issuable upon such exercise prior to such consummation, the securities or other property (including cash) to which such Holder would have been entitled upon consummation of the Transaction if such Holder had exercised its Warrant(s) immediately
prior thereto (subject to adjustments from and after the consummation date as nearly equivalent as possible to the adjustments provided for in this Section 7). The Company will not effect any Transaction unless prior to the consummation thereof each
corporation or other entity (other than the Company) which may be required to deliver any new warrant, securities or other property as provided herein shall assume, by written instrument delivered to such Holder, the obligation to deliver to such
Holder such new warrant, securities or other property as in accordance with the foregoing provisions such Holder may be entitled to receive, and such corporation or entity shall have similarly delivered to such Holder prior to the effectiveness of
the Transaction an opinion of counsel for such corporation or entity, reasonably satisfactory in form and substance to such Holder, which opinion shall state that all of the terms of the new warrant or the original Warrant shall be enforceable
against the Company and such corporation or entity in accordance with the terms hereof and thereof, together with such other matters as such Holder may reasonably request. The foregoing provisions of this Section 7(b) shall similarly apply to
successive Transactions. 
  

 12 

 (c) Other Action Affecting Common Stock. In case at any time or from time to time
the Company shall take any action of the type contemplated in Section 7(a) or (b) hereof but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other
rights with equity features), then, unless in the reasonable opinion of the Board of Directors such action will not have a material adverse effect upon the rights of the Holders (taking into consideration, if necessary, any prior actions which the
Board of Directors deemed not to materially adversely affect the rights of the Holders), the Exercise Price and the number of Warrant Shares issuable upon the exercise of the Warrants shall be adjusted in such manner and at such time as the Board of
Directors may in good faith determine to be equitable in the circumstances. 
  
 (d) Notices. 
  
 (i) Notice of Proposed Actions. In case the Company shall propose (A) to pay any dividend payable in stock of any class to the holders of its Common Stock or to make any other distribution to the holders of its Common Stock, (B) to
offer to the holders of its Common Stock rights to subscribe for or to purchase any Convertible Securities or additional shares of Common Stock or shares of stock of any class or any other securities or Options, (C) to effect any reclassification of
its Common Stock, (D) to effect any recapitalization, stock subdivision, stock combination or other capital reorganization, (E) to effect any consolidation or merger, share exchange, or sale, lease or other disposition of all or substantially all of
its property, assets or business or (F) to effect the liquidation, dissolution or winding up of the Company, then, in each such case, the Company shall give to each Holder written notice of such proposed action, which written notice shall specify
the record date for the purposes of such stock dividend, distribution or rights, or the date on which such reclassification, reorganization, consolidation, merger, share exchange, sale, transfer, disposition, liquidation, dissolution or winding up
is to take place and the date of participation therein by the holders of Common Stock, if any such date is to be fixed, or the date on which the transfer of Common Stock is to occur, and shall also set forth such facts with respect thereto as shall
be reasonably necessary to indicate the effect of such action on the Common Stock and on the number of Warrant Shares issuable upon the exercise of each Warrant after giving effect to any adjustment which will be required as a result of such action.
Such notice shall be so given in the case of any action covered by clause (A) above at least thirty (30) days prior to the record date for determining holders of the Common Stock for purposes of such action and, in the case of any other such action,
at least thirty (30) days prior to the earlier of the date of the taking of such proposed action and the date of participation therein by the holders of Common Stock. 
  
 (ii) Adjustment Notice. In each case of any adjustment or readjustment in the Exercise Price and the
Warrant Shares issuable upon exercise of the Warrants, the Company shall promptly thereafter compute such adjustment or readjustment in accordance with the terms of this Warrant Agreement and provide a written report thereof certified by the chief
financial officer of the Company to each Holder stating the number of Warrant Shares and the Warrant Price, after giving effect to such adjustment or readjustment, and setting forth in reasonable detail the method of calculation and the facts upon
which such calculation is based. Within 10 Business Days 

  

 13 

 
of the receipt of such report, the Holders may object to any of the calculations or other items set forth in such certified report by delivering a written
notice to the Company, and if the Company and the Holders are unable to reach agreement after negotiating in good faith for 15 Business Days after the delivery of such notice, any items then in dispute shall be determined by an independent appraisal
of an investment banker mutually acceptable to the Company and the Holders. The cost and expense of any such appraisal shall be borne by the Company. The Company shall keep at its Principal Office copies of all such certified reports and shall cause
the same to be available for inspection at said office during normal business hours by any Holder or any prospective purchaser of a Warrant (in whole or in part) if so designated by a Holder. 
  
 (e) No Change in Warrant Terms on Adjustment.
Irrespective of any adjustment in the Exercise Price or the number of Warrant Shares, each Warrant may continue to express the same Exercise Price and number of Warrant Shares as are stated therein and such Exercise Price and number of Warrant
Shares issuable upon the conversion thereof shall be deemed to have been automatically so adjusted. 
  
 Section 8. Transfers of Warrant. 
  
 (a) Transfer and Exchanges. The Company shall initially record each Warrant on a register to be maintained by the Company with its
other stock books and, subject to Section 8(b) hereof, from time to time thereafter shall transfer each Warrant on such register when such Warrant is (i) surrendered by the Holder to the Company for transfer in accordance with the terms hereof, (ii)
properly endorsed by the Holder and accompanied by appropriate instructions and (iii) accompanied by payment in cash or by check, bank draft or money order payable to the order of the Company, in United States currency, of an amount equal to any
stamp or other tax or governmental charge or fee required to be paid in connection with the transfer thereof. Upon any such transfer, a new Warrant or Warrants shall be issued to the transferee or transferees and, in the event that such Warrant is
only partially transferred, to the Holder, and the surrendered Warrant shall be canceled. Each such transferee shall succeed to all of the rights of the transferring Holder under this Agreement or in the event that such Warrant is only partially
transferred, the transferring Holder and such transferee shall, simultaneously, hold rights hereunder in proportion to the portions of the Warrant transferred and retained, respectively. 
  
 (b) Transfers Subject to Securities Laws. Subject to the restrictions set forth in this Section 8,
each Holder may at any time and from time to time freely transfer its Warrant and Warrant Shares in whole or in part. No Warrant has been, and the Warrant Shares at the time of their issuance may not be, registered under the Securities Act, and,
except as provided in the Registration Rights Agreement, nothing herein contained shall be deemed to require the Company to so register any Warrant or Warrant Shares. The Warrants and the Warrant Shares are issued subject to the terms and conditions
contained herein and in the Purchase Agreement, and every Holder (and any transferee or transferees of such Holder) by accepting any Warrant agrees to be bound by such provisions and conditions and represents to the Company that such Warrant has
been acquired, and the Warrant Shares will be acquired, for the account of such Holder for investment and not with a view to or for sale in connection with any distribution thereof. Each certificate representing Warrant Shares issued to a Holder
upon exercise of a Warrant and each certificate representing Warrant Shares issued to any subsequent transferee of 

  

 14 

 
any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the form as follows: 
  
 THIS WARRANT TO PURCHASE COMMON STOCK AND THE SHARES OF COMMON STOCK THAT
MAY BE PURCHASED HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT (1)
PURSUANT TO A REGISTRATION STATEMENT WITH RESPECT TO SUCH SECURITIES WHICH IS EFFECTIVE UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT RELATING TO THE DISPOSITION OF SECURITIES AND (2) IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. 
  
 Section 9.
Mandatory Exercise of Warrants. 
  
 (a)
Mandatory Exercise. If at any time after the date hereof but prior to the Expiration Date (i) the average Closing Price of the Common Stock equals or exceeds 150% of the Initial Exercise Price for a period of twenty (20) consecutive Trading
Days and (ii) a Shelf Registration Statement (as defined in the Registration Rights Agreement) providing for the resale of all of the Shares and the Warrant Shares is continuously effective for such twenty consecutive Trading Days (a
“Mandatory Exercise Event”), the Company may require the Holders of the Warrants to exercise all, but not less than all, of the Warrants for Warrant Shares at the Exercise Price then in effect by delivering a notice (a
“Mandatory Exercise Notice”) to each of the Holders of the Warrants within ten (10) calendar days after the occurrence of a Mandatory Exercise Event. The Mandatory Exercise Notice shall specify a date (which must be at least fifteen
(15) but not more than thirty (30) calendar days after the date of such notice) by which such exercise must take place (the “Mandatory Exercise Date”). On or before the Mandatory Exercise Date, each Holder shall exercise all, but
not less than all, of its Warrants pursuant to the procedures for exercise set forth in Section 3 of this Agreement. 
  
 (b) Definitions. For the purposes of this Section 9, the following terms have the following meanings: 
  
 (i) “Closing Price” shall mean the closing
bid price for shares of Common Stock as quoted on the OTC Bulletin Board or the principal automated quotation system of a national securities association on which shares of Common Stock are quoted, unless the Common Stock is listed on a national
securities exchange, in which case such term shall mean the closing price of the Common Stock on the principal national securities exchange on which the Common Stock is listed. 
  
 (ii) “Trading Day” shall mean a day on which (i) (A) there is trading on the principal
national securities exchange on which the Common Stock is listed or (B) trading is reported on the OTC Bulletin Board or the principal automated quotation system on which sales of share of the Common Stock are reported and (ii) the volume of shares
of Common Stock sold equals or exceeds 150,000. For purposes of this Section 9, 

  

 15 

 
Trading Days shall not be deemed to be “consecutive” if there shall occur any day that meets the criteria set forth in clause (i) of the preceding
sentence but does not meet the criteria set forth in clause (ii) thereof between one Trading Day and the next Trading Day. 
  
 Section 10. Miscellaneous. 
  
 (a) Injunctive Relief. On the occurrence of any breach of this Agreement or any Warrant, each Holder may, at its option, and in
addition to all other remedies it may have otherwise or under applicable law, (i) at the Company’s expense, elect to have the Warrant Shares issuable upon the exercise of such Warrant fully and completely recomputed, subject to adjustment as
provided herein, in order to remove and remedy any prejudice which has been or might have been caused to it by such breach, including, without limitation, rescinding and annulling any or all exercises of any Warrant, and waivers or agreements made
subsequent to such breach and (ii) bring any action for injunctive relief or specific performance of any term or covenant contained herein or in any Warrant, and the Company hereby acknowledging that an action for money damages may not be adequate
to protect the interests of the Holders hereunder. 
  
 (b) Survival of Provisions. Notwithstanding the full exercise by any Holder of its Warrant(s), the provisions of this Agreement and each Warrant shall survive such exercise. 
  
 (c) Delays, Omissions and Indulgences. No delay or
omission to exercise any right, power or remedy accruing to any Holder upon any breach or default of the Company hereunder or under any Warrant shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach
or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.

  
 (d) Amendment and Waiver. Any
amendment, supplement or modification of or to any provision of this Agreement, any waiver of any provision of this Agreement, and any consent to any departure by the Company from the terms of any provision of this Agreement, shall be effective (a)
only if it is made or given in writing and signed by the Company and a Two-Thirds Interest, and (b) only in the specific instance and for the specific purpose for which made or given. 
  
 (e) Rights of Transferees. The rights granted to the Holders hereunder and under each Warrant shall
pass to and inure to the benefit of all subsequent transferees of all or any portion of a Warrant (provided that each Holder and any transferee shall hold such rights in proportion to the amount of such Warrant held by each party) until extinguished
pursuant to the terms hereof. 
  
 (f) Section
Headings. The titles and captions of the sections, subsections and other provisions hereof are for convenience of reference only and are not to be considered in construing this Agreement. 
  

 16 

 (g) Notices. All notices and other communications provided for hereunder shall be
in writing and personally delivered, delivered by nationally-recognized overnight courier, mailed, or sent by facsimile to: 
  
 (i) if to the Company, 
  
 World Health Alternatives, Inc. 
 300 Penn Center Boulevard, Suite 201 
 Pittsburgh, Pennsylvania 15235 
 Attention: Richard E. McDonald 
 Fax: 412-829-8905 
  
 (ii) if to any Holder, to the address shown for such Holder on the Schedule or Purchasers attached as Exhibit A to the Purchase Agreement, marked for attention as there indicated, 
  
 or to such other address as the party to whom notice is to be given may have furnished to the
other in writing in accordance with the provisions of this Section 10(g). Any such notice or communication will be deemed to have been received: (A) in the case of facsimile or personal delivery, on the date of such delivery; (B) in the case of
nationally-recognized overnight courier, on the next business day after the date sent; and (C) if by registered or certified mail, on the third business day following the date postmarked. 
  
 (h) Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that the Company shall have no right to assign its rights, or to delegate its obligations, hereunder without the prior written
consent of each Holder, except pursuant to a Transaction in which the surviving entity agrees in writing to assume all of the covenants, liabilities and obligations of the Company hereunder. 
  
 (i) Third Party Beneficiaries. Except as expressly
provided herein, no provision of this Agreement is intended to confer any rights, benefits or remedies upon any Person other than the parties hereto and their respective successors and assigns. 
  
 (j) Severability. If any one or more of the
provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions hereof shall not be in any way impaired. 
  
 (k) Governing Law. This Agreement shall be governed by the laws of the State of Pennsylvania applicable to contracts made and to be performed entirely within such State. The parties hereto irrevocably submit to
the non-exclusive jurisdiction of any state or federal court sitting in the State of Pennsylvania over any suit, action or proceeding arising out of or relating to this Agreement or the affairs of the Company. To the fullest extent they may
effectively do so under applicable law, the parties hereto irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction of any such court, any objection that they may
now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

 

 17 

 (l) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
  
 (m) Counterparts. This Agreement may be executed simultaneously in any number of counterparts, each of which when so executed and
delivered shall be taken to be an original, and such counterparts shall together constitute but one and the same document. 
  
 [SIGNATURE PAGES FOLLOW] 
  

 18 

 IN WITNESS WHEREOF, each party hereto has caused this Agreement to be duly executed as of the date first
above written. 
  

			
	 WORLD HEALTH ALTERNATIVES, INC.

		
	 By:
	 	 
	 	 	 Name:
 Title:

  

 HOLDER SIGNATURE PAGE TO WARRANT AGREEMENT 
  
 The undersigned Holder hereby executes this counterpart signature page to the
Warrant Agreement, dated as of July     , 2004 by and among World Health Alternatives, Inc. and certain Holders, including the undersigned. 
  

			
	
	  

	 Name of Holder (Please print)

		
	 By:
	 	  

	 (Signature)

		
	 By:
	 	  

	 (Second signature, if necessary)

			
		
	 Print Name:
	 	  

			
		
	 Title:
	 	  

			
		
	 Address:
	 	  

	
	  

	
	  

		
	 Phone:
	 	  

			
		
	 Fax:
	 	  

  

 EXHIBIT A 
  
 FORM OF WARRANT 
  
 THIS COMMON STOCK PURCHASE WARRANT AND THE SHARES OF COMMON STOCK THAT MAY BE PURCHASED HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT (1) PURSUANT TO A REGISTRATION STATEMENT WITH RESPECT TO SUCH SECURITIES WHICH IS
EFFECTIVE UNDER THE SECURITIES ACT OR TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES AND (2) IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. 
  
 WORLD HEALTH ALTERNATIVES, INC. 
  
 COMMON STOCK PURCHASE WARRANT 
  
 Number
             
  
 THIS IS TO CERTIFY that [                    ] and its transferees, successors and assigns (the
“Holder”), for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, is entitled to purchase from WORLD HEALTH ALTERNATIVES, INC., a Florida corporation (the
“Company”), at a price per share equal to the Exercise Price, [                    ] fully paid and nonassessable shares of
the common stock, par value $0.01 per share, of the Company (the “Common Stock”), subject to the terms and conditions of the Warrant Agreement, as amended, supplemented or modified from time to time (the “Warrant
Agreement”), dated as of the date hereof, between the Company and the other parties thereto. The Exercise Price and the number of shares of Common Stock subject to this Warrant are subject to adjustment and readjustment from time to time as
set forth in Section 7 of the Warrant Agreement. Capitalized terms used herein shall have the meanings ascribed to such terms in the Warrant Agreement. 
  
 Payment of the Exercise Price may be made as set forth in Section 3 of the Warrant Agreement. 
  

 If this Warrant is not exercised on or before 5:00 p.m. New York time on the Expiration Date, this
Warrant shall become void and all rights hereunder shall cease as of such time, except as provided in the Warrant Agreement. 
  
 This Warrant is one of the Warrants issued pursuant to the Warrant Agreement and is subject to, and entitled to the benefits of, all of the terms,
provisions and conditions of the Warrant Agreement, which Warrant Agreement is hereby incorporated by reference herein and made a part hereof. This Warrant may not be amended except as set forth in the Warrant Agreement. The Warrant Agreement sets
forth a full description of the rights, limitations of rights, obligations, duties and immunities of the Company and the Holder with respect to this Warrant. Copies of the Warrant Agreement are on file at the Principal Office of the Company.

  
 IN WITNESS WHEREOF, the Company has caused this Warrant
to be signed in its name by its president and attested by its secretary, as of the [        ] day of July, 2004. 
  

			
	 WORLD HEALTH ALTERNATIVES, INC.

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	 ATTEST:

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	Secretary

  
 [CORPORATE SEAL] 
  

 EXHIBIT B 
  

FORM OF NOTICE OF EXERCISE 
  

	To:	World Health Alternatives, Inc. 

  
 1. The undersigned, pursuant to the provisions of the attached Warrant, hereby elects to exercise such Warrant with respect to
                 shares of Common Stock (the “Exercise Amount”). Capitalized terms used but not otherwise defined herein have the meanings
ascribed thereto in the attached Warrant. 
  
 2. The undersigned
herewith tenders payment for such shares in the following manner (please check type, or types, of payment and indicate the portion of the Exercise Price to be paid by each type of payment): 
  
                  Exercise for Cash 
  
                  Cashless Exercise 
  
 3. Please issue a certificate or certificates representing the shares
issuable in respect hereof under the terms of the attached Warrant, as follows: 
  
  

 (Name of Record Holder/Transferee) 
  
 and deliver such certificate or certificates to the following address: 
  

  

  

  

(Address of Record Holder/Transferee) 
  
 4. The undersigned represents that the aforesaid shares are being acquired for the account of the undersigned for investment and not with a view to, or
for resale in connection 

  

 
with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares. 
  
 5. If the Exercise Amount is less than all of the shares of Common Stock
purchasable hereunder, please issue a new warrant representing the remaining balance of such shares, as follows: 
  
  

 (Name of Record
Holder/Transferee) 
  
 and deliver such warrant to the following address:

  
  

  

  

(Address of Record Holder/Transferee) 
  
 In witness whereof, the undersigned Holder has caused this Notice of Exercise to be executed as of this
             day of             ,             .

  

			
	  

	 (Name of Holder)

		
	 By:Form of Registration Rights Agreement

 REGISTRATION RIGHTS AGREEMENT 
  
 This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of July
    , 2004 by and among World Health Alternatives, Inc., a Florida corporation (the “Company”), and Persons identified on the Schedule of Holders (the “Holders”) attached hereto as
Exhibit A (the “Schedule of Holders”). 
  
 WITNESSETH: 
  
 WHEREAS, the Company and the
Holders have entered into a Stock and Warrant Purchase Agreement (the “Purchase Agreement”) dated as of July     , 2004, providing, among other things, for the purchase by the Holders of up to 5,000,000
shares of the common stock, par value $0.0001 per share, of the Company (the “Common Stock”) and warrants to purchase up to 1,500,000 shares of Common Stock; and 
  
 WHEREAS, it is a condition to the closing of the purchase and sale transactions set forth in the Purchase Agreement that the
Company execute and deliver this Agreement and provide for the registration rights set forth herein; 
  
 NOW, THEREFORE, the parties, in consideration of the mutual covenants and agreements hereinafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, hereby agree as follows: 
  
 SECTION 1. Definitions. Terms defined in the Purchase Agreement and not otherwise defined herein are used herein with the same meanings as defined in the Purchase Agreement. As used in this Agreement, the
following terms shall have the following meanings: 
  
 “Advice” has the meaning set forth in Section 5(b)(i). 
  
 “Approved Underwriter” has the meaning set forth in Section 3(d). 
  
 “Company” has the meaning set forth in the preamble to this Agreement. 
  
 “Effectiveness Period” has the meaning set forth in Section 2(b). 
  
 “Holder” or “Holders” has the meaning set
forth in the preamble to this Agreement and also means each Person to whom a Holder Transfers Registrable Securities in accordance with Section 9. 
  
 “Inspectors” has the meaning set forth in Section 5(a)(xii). 
  
 “NASD” means the National Association of Securities Dealers, Inc. 
  
 “Prospectus” shall mean the prospectus included in a Shelf
Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, 

  

 
and by all other amendments and supplements to a prospectus, including post-effective amendments, and, in each case, including all documents incorporated by
reference therein. 
  
 “Purchase Agreement” has
the meaning set forth in the recitals to this Agreement. 
  
 “Records” has the meaning set forth in Section 5(a)(xii). 
  
 “Registrable Securities” means the Shares, the Warrant Shares and any securities of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is
issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such Shares and Warrant Shares. 
  
 “Registration Statement” means any registration statement filed by the Company with the Commission under the Securities Act, including
the Shelf Registration Statement, that covers some or all of the Registrable Securities, and any amendments or supplements thereto including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and
all documents and other materials incorporated by reference therein. 
  
 “Rule 144” means Rule 144 promulgated under the Securities Act. 
  
 “Shelf Registration” means a registration effected pursuant to Section 2(a). 
  
 “Shelf Registration Statement” means a shelf registration statement of the Company pursuant to the provisions of Section 2 that covers
all of the Registrable Securities on Form SB-2 or such other form as may be permitted by the Commission under Rule 415 under the Securities Act, or any successor or similar rule that may be adopted by the Commission, and all amendments and
supplements to such registration statement, including post-effective amendments, in each case, including the Prospectus contained therein, all exhibits thereto and all documents incorporated by reference therein. 
  
 “Transfer” means, in respect of Registrable Securities, the
act of selling, giving, transferring, creating a trust (voting or otherwise), assigning, pledging or otherwise disposing of Registrable Securities. 
  
 “Violation” has the meaning set forth in Section 6(a). 
  
 SECTION 2. Shelf Registration Statement. 
  
 (a) Registration Requirement. The Company shall file with the Commission a Shelf Registration
Statement meeting the requirements of the Securities Act within thirty (30) days following the Closing Date, and will use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective by the Commission as soon as
reasonably practicable thereafter. Each Holder as to which any Shelf Registration is being effected agrees to furnish to the Company upon request all information with respect to such Holder that is reasonably necessary to make the information set
forth in the Shelf Registration Statement or Prospectus not materially misleading. 
  

 2 

 (b) Effectiveness Requirement. The Company agrees to use its reasonable best
efforts to keep such Shelf Registration Statement continuously effective and the Prospectus relating thereto usable for resales for a period commencing on the date that such Shelf Registration Statement is initially declared effective by the
Commission and terminating on the earlier to occur of (i) the date when all of the Registrable Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement and (ii) the date on which all
Registrable Securities remaining to be sold under the Shelf Registration Statement may be sold (as confirmed by an unqualified opinion of counsel to the Company that is delivered to each of the Holders and reasonably satisfactory to them) without
restriction or otherwise pursuant to Rule 144(k) under the Securities Act (the “Effectiveness Period”). 
  
 (c) Notice. The Company will, in the event a Shelf Registration Statement is declared effective, provide to each Holder a
reasonable number of copies of the Prospectus which is a part of such Shelf Registration Statement, notify each such Holder when such Shelf Registration Statement has become effective and take such other actions as are required to permit
unrestricted resales of the Registrable Securities thereunder. The Company further agrees to supplement or amend such Shelf Registration Statement if and as required by the rules, regulations or instructions applicable to the registration form used
by the Company for such Shelf Registration Statement or by the Securities Act for shelf registrations, and the Company agrees to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly after its being
used or filed with the Commission. 
  
 (d)
Effective Shelf Registration Statement. The Shelf Registration Statement will not be deemed to have become effective unless it has been declared effective by the Commission; provided, however, that if, after it has been declared
effective, the offering of Registrable Securities pursuant to such Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the Commission or any other Governmental Authority, such Shelf
Registration Statement will be deemed not to have been effective during the period of such interference, until the offering of Registrable Securities pursuant to such Shelf Registration Statement may legally resume. The Company will be deemed not to
have used its reasonable best efforts to cause a Shelf Registration Statement to become, or to remain, effective during the requisite period if it voluntarily or negligently takes any action or omits to take any action that would result in any such
Shelf Registration Statement not being declared effective or that would result in the Holders of Registrable Securities covered thereby not being able to offer or sell such Registrable Securities during that period. 
  
 (e) Eligibility. As of the Closing, the Company
represents and warrants that it will be eligible to file a Shelf Registration Statement with respect to the Registrable Securities. 
  
 SECTION 3. Demand Registration. 
  
 (a) Request for Demand Registration. Subject to the provisions of Section 3(e), if at any time Holders holding at least a majority
of the Registrable Securities held by all of the Holders (the “Initiating Holders”) may make a written request to the Company to register any Registrable Securities, the Company shall cause to be registered under the Securities Act
(a “Demand Registration”) the number of Registrable Securities stated in such request; provided, however, that (i) the reasonably anticipated aggregate price to the public of all Registrable 

  

 3 

 
Securities required to be included in such public offering shall exceed $10,000,000 and (ii) the Company shall not be obligated to effect more than two (2)
such Demand Registrations pursuant to this Section 3. Each request for a Demand Registration by the Holders shall state the amount of the Registrable Securities proposed to be sold and the intended method of disposition thereof. 
  
 (b) Effective Demand Registration. The Company shall
use its reasonable best efforts to cause a Registration Statement with respect to any such Demand Registration to become and remain effective. A registration requested under this Section 3 shall not constitute a Demand Registration until a
Registration Statement has become effective and remains continuously effective until all Registrable Securities registered thereunder have been sold; provided, however, that a registration requested under this Section 3 shall not
constitute a Demand Registration if (x) after such Registration Statement has become effective, such Registration Statement or the related offer, sale or distribution of Registrable Securities thereunder is interfered with by any stop order,
injunction or other order or requirement of the Commission or other Governmental Authority and such interference is not thereafter eliminated or (y) the conditions specified in the underwriting agreement, if any, entered into in connection with such
Demand Registration are not satisfied or waived. 
  
 (c) Underwriting Procedures. If the Initiating Holders holding a majority of the Registrable Securities held by all of the Initiating Holders so elect, the Company shall cause such Demand Registration to be in the form of a firm
commitment underwritten offering and the managing underwriter or underwriters selected for such offering shall be the Approved Underwriter selected in accordance with Section 3(d). If the Approved Underwriter advises the Company that the aggregate
amount of such Registrable Securities requested to be included in such offering is sufficiently large to have a material adverse effect on the success of such offering, then the Company shall include in such registration, to the extent of the amount
that the Approved Underwriter believes may be sold without causing such material adverse effect, (i) first, such number of Registrable Securities of the Initiating Holders participating in the offering pursuant to this Section 3, which Registrable
Securities shall be allocated pro rata among such Initiating Holders, based on the number of Registrable Securities requested to be included in such offering by each such Initiating Holder, (ii) second, any other Registrable Securities
requested by Holders thereof to be included in such registration, which Registrable Securities shall be allocated pro rata among such Holders, based on the number of Registrable Securities requested to be included in such offering by each
such Holder, and (iii) third, securities offered by the Company for its own account. 
  
 (d) Selection of Underwriters. If any registration of Registrable Securities effected pursuant to Section 2 or 3 hereof is in the
form of an underwritten offering, the Holders holding a majority of the Registrable Securities held by all of the Holders shall select and obtain an investment banking firm of national reputation to act as the managing underwriter of the offering
(the “Approved Underwriter”). 
  
 (e) Effect of Shelf Registration Statement. Notwithstanding the foregoing, the Holders of Registrable Securities shall not be entitled to exercise the rights set forth in this Section 3 if a Shelf Registration Statement shall have
become effective in accordance with terms of Section 2 hereof and shall remain continuously effective during the Effectiveness Period; provided that such rights shall be immediately effective and exercisable by the Holders in 

  

 4 

 
accordance with their terms if such Shelf Registration Statement, once effective, shall at any time cease to be effective during the Effectiveness Period.

  
 SECTION 4. Piggy-Back Registrations; Other
Registrations. If, at any time prior to the second anniversary of the Closing Date, the Company shall determine to prepare and file with the Commission a registration statement under the Securities Act relating to an offering of any of its
securities for its own account or the account of others (other than pursuant to a registration statement on Form S-4 or Form S-8 or any successor thereto) (an “Incidental Registration Statement”), then the Company shall send to each
Holder a written notice of such determination and, if within fifteen (15) days after the date of such notice, any such Holder shall so request in writing, the Company shall include in such Incidental Registration Statement the Registrable Securities
such Holder requests to be registered, subject to the following limitations. In the case of an underwritten offering in connection with an Incidental Registration Statement, if the managing underwriter advises the Company that the aggregate amount
of Registrable Securities requested to be included in such offering is sufficiently large to have a material adverse effect on the success of such offering, then the Company shall include in such registration, to the extent of the amount that such
underwriter believes may be sold without causing such material adverse effect, (i) first, securities offered by the Company for its own account, (ii) second, such number of Registrable Securities of the Holders participating in the offering pursuant
to this Section 4, which Registrable Securities shall be allocated pro rata among such Holders, based on the number of Registrable Securities requested to be included in such offering by each such Holder, (iii) third, any other securities of
the Company requested to be included in such offering. In no event shall the Company publicly announce or file any Incidental Registration Statement at any time prior to the time when a Shelf Registration Statement has become effective in accordance
with Section 2 of this Agreement. 
  
 SECTION 5. Registration
Procedures. 
  
 (a) Obligations of the
Company. In connection with its obligations under this Agreement to effect the registration of Registrable Securities under the Securities Act as provided in Section 2, 3 or 4 hereof, the Company shall, as expeditiously as practicable:

  
 (i) prepare and file with the Commission a
Registration Statement within the relevant time period specified in Section 2, 3 or 4 hereof, on a form that shall (A) be available for the sale of the Registrable Securities by the selling Holders thereof and (B) comply as to form with the
requirements of the applicable form on which such Registration Statement is filed and include all financial statements required by the Commission to be filed therewith; provided, however, that, before filing any Registration Statement
or Prospectus or any amendments or supplements thereto, the Company shall furnish to and afford the Holders of the Registrable Securities covered by such Registration Statement, their counsel and the managing underwriters, if any, a reasonable
opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed; provided, further, that the Company shall not file any Shelf
Registration Statement or Prospectus or any amendments or supplements thereto in respect of which the Holders must be afforded an opportunity to review prior to the filing of such document, other than filings required under the Exchange Act, if any
of the Holders, their counsel or the 

  

 5 

 
managing underwriters of an underwritten offering of Registrable Securities shall reasonably object to such filing in a timely manner; 
  
 (ii) prepare and file with the Commission such amendments
and post-effective amendments to such Registration Statement as may be necessary to keep such Registration Statement effective for the Effectiveness Period, in the case of a Shelf Registration Statement, or, in the case of another Registration
Statement, for the applicable period required by this Agreement, or, in any such case, for such other period as reasonably requested by Holders of Registrable Securities, and cause each Prospectus to be supplemented, if so determined by the Company
or requested by the Commission, by any required prospectus supplement and as so supplemented to be filed pursuant to Rule 424 (or any similar provision then in force) under the Securities Act, respond within a reasonable time to any comments
received from the Commission with respect to such Registration Statement, or any amendment, post-effective amendment or supplement relating thereto, and comply with the provisions of the Securities Act and the Exchange Act applicable to the
disposition of all Registrable Securities covered by such Registration Statement during such applicable period in accordance with the intended method or methods of distribution by the selling Holders thereof described in this Agreement; 

 
 (iii) register or qualify the Registrable Securities
under all applicable state securities or “blue sky” laws of such jurisdictions by the time the applicable Registration Statement is declared effective by the Commission as any Holder of Registrable Securities covered by such Shelf
Registration Statement or any underwriter of an underwritten offering of Registrable Securities shall reasonably request in writing in advance of such date of effectiveness, and do any and all other acts and things that may be reasonably necessary
or desirable to enable such Holder and underwriter to consummate the disposition in each such jurisdiction of such Registrable Securities owned by such Holder; 
  

(iv) immediately notify each Holder of Registrable Securities, its counsel and the managing underwriters of an underwritten offering of
Registrable Securities, if any, and promptly confirm such notice in writing (A) when the Registration Statement covering such Registrable Securities has become effective and when any post-effective amendments thereto become effective, (B) of any
request by the Commission or any state securities authority for amendments and supplements to such Registration Statement or Prospectus or for additional information after such Registration Statement has become effective, (C) of the issuance or
threatened issuance by the Commission or any state securities authority of any stop order suspending the effectiveness of such Registration Statement or the qualification of the Registrable Securities in any jurisdiction described in Section
5(a)(iii) or the initiation of any proceedings for that purpose, (D) if, between the effective date of such Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the
Company contained in the Purchase Agreement cease to be true and correct, (E) of the happening of any event or the failure of any event to occur or the discovery of any facts, during the period in which such Registration Statement is required to
remain effective pursuant to this Agreement which makes any statement made in such 

  

 6 

 
Registration Statement or the related Prospectus untrue in any material respect or which causes such Registration Statement or Prospectus to omit to state a
material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading and (F) of the reasonable determination of the Company upon advice of its counsel that a
post-effective amendment to such Registration Statement would be required; 
  
 (v) take reasonable best efforts to prevent the entry of any stop order suspending the effectiveness of any Registration Statement, or if entered, to obtain the withdrawal of any such stop order or to avoid the
issuance of, or, if issued, obtain the withdrawal of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, in each case, as soon as possible; 
  
 (vi) furnish to each Holder of Registrable Securities
included within the coverage of a Registration Statement, without charge, a number of conformed copies of the Registration Statement relating to the registration in question and any post-effective amendment thereto (without documents incorporated
therein by reference or exhibits thereto, unless requested) as such Holder or managing underwriters, if any, may reasonably request; 
  
 (vii) deliver to each selling Holder of Registrable Securities and each managing underwriter participating in any such disposition of
Registrable Securities, if any, without charge, as many copies of the applicable Prospectus (including each preliminary Prospectus) as such Holder or managing underwriter may reasonably request (it being understood that the Company shall consent to
the use of the Prospectus by each of the selling Holders of Registrable Securities and the underwriter or underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by the Prospectus), such other documents
incorporated by reference therein and any exhibits thereto as such selling Holder or managing underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter; 
  
 (viii) cooperate with the selling Holders of Registrable
Securities to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold that do not bear any restrictive legends and that are registered in such names as the selling Holders or any underwriters may
reasonably request at least two (2) Business Days prior to the closing of any sale of Registrable Securities pursuant to the Registration Statement relating thereto; 
  
 (ix) as soon as practicable after the resolution of any matter or event specified in Sections 5(a)(iv)(B),
5(a)(iv)(C), 5(a)(iv)(E), prepare a supplement or post-effective amendment to the applicable Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as
thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made therein, in the light of
the circumstances under which they were made, not misleading; 
  

 7 

 (x) within a reasonable time prior to the filing of any document that is to be
incorporated by reference into a Registration Statement or a Prospectus after the initial filing of such Registration Statement, provide upon request a reasonable number of copies of such document to the Holders and managing underwriters, if any,
and make such representatives of the Company as shall be reasonably requested by the Holders of Registrable Securities available for discussion of such document; 
  
 (xi) if requested by the Holders of Registrable Securities in connection with an underwritten offering of
Registrable Securities: (i) (A) enter into such agreements (including underwriting agreements) as are customary in underwritten offerings, (B) make such representations and warranties in such agreements to the underwriters (if any), with respect to
the business of the Company and the Subsidiaries as then conducted and with respect to the applicable Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are
customarily made by issuers to underwriters in underwritten offerings (it being understood that all of the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters included
in each such agreement shall also be made to and for the benefit of such Holders and any or all of the conditions precedent to the obligations of such underwriters under such agreements shall be conditions precedent to the obligations of such
Holders), and confirm the same if and when requested and (C) include in such agreements such terms and conditions as customary in agreements of that type, including, without limitation, indemnities no less favorable to the recipient thereof than
those provided in Section 6 of this Agreement; (ii) obtain opinions of counsel to the Company and updates thereof (which may be in the form of a reliance letter) in form and substance reasonably satisfactory to the managing underwriters covering the
matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such underwriters; and (iii) obtain “cold comfort” accountants’ letters and updates thereof in form
and substance reasonably satisfactory to the managing underwriters from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any business acquired by the Company for
which financial statements and financial data are, or are required to be, included in the applicable Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily
covered in “cold comfort” letters in connection with underwritten offerings; 
  
 (xii) if requested by Holders of Registrable Securities in connection with an underwritten offering of Registrable Securities, make
reasonably available for inspection by any selling Holder of Registrable Securities who certifies to the Company that it has a current intention to sell Registrable Securities pursuant to the applicable Registration Statement, any underwriter
participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or underwriter (collectively, the “Inspectors”), at the offices where normally
kept, during the Company’s normal business hours, all financial and other records, and pertinent organizational and operational documents of the Company and the Subsidiaries (collectively, the “Records”), and cause the
officers, trustees and employees of the Company and the Subsidiaries to supply all relevant information in each case 

  

 8 

 
reasonably requested by any such Inspector in connection with such Registration Statement; 
  
 (xiii) comply with all applicable rules and regulations of the Commission so long as any provision of this
Agreement shall be applicable and make generally available to its security holders (either directly or as a consequence of filing a Form 10-KSB with the Securities and Exchange Commission) earning statements satisfying the provisions of Section
11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than ninety (90) days after the end of any fiscal year) or, in each case, such shorter period as may be required for the filing
of reports containing annual financial statements pursuant to the rules and regulations adopted under the Securities Act from time to time (A) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in an
underwritten offering, and (B) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said
twelve-month periods; 
  
 (xiv) cooperate with
each seller of Registrable Securities covered by a Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made
with the NASD or any other self-regulatory organization; 
  
 (xv) take all other steps necessary to effect the registration of the Registrable Securities covered by a Registration Statement contemplated hereby; and 
  
 (xvi) notwithstanding any other provision of this Section 5(a), if the Company becomes ineligible to use the
registration form on which a Registration Statement is filed and declared effective, thereby precluding any Holder from using the related Prospectus, the Company shall use its reasonable best efforts to prepare and file either (A) a post effective
amendment to such Registration Statement to convert such registration statement to, or (B) a new Registration Statement on, another registration form which the Company is eligible to use within thirty (30) days after the date that the Company
becomes so ineligible; provided such other registration form shall be available for the sale of the Registrable Securities by the selling Holders thereof and such amended or new Registration Statement shall remain subject in all respects to
the provisions of this Section 3. 
  
 (b)
Holders’ Obligations. 
  
 (i) Each
Holder agrees that, upon receipt of any notice from the Company of the occurrence of any event specified in Sections 5(a)(iv)(B), 5(a)(iv)(C), 5(a)(iv)(E), 5(a)(iv)(F), such Holder will discontinue disposition of Registrable Securities pursuant to
the Registration Statement at issue until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(a)(ix) or until it is advised in writing (the “Advice”) by the Company that the
use of the applicable Prospectus may be resumed, and, if so directed by the Company, such Holder will deliver to the Company (at the Company’s expense) all copies other than permanent file copies 

  

 9 

 
in such Holder’s possession, of the Prospectus covering such Registrable Securities at the time of receipt of such notice. 
  
 (ii) Each Holder agrees (A) that the Company may require
each seller of Registrable Securities as to which any registration is being effected to furnish to it such information regarding such seller as may be required by the staff of the Commission to be included in the applicable Registration Statement,
(B) the Company may exclude from such registration the Registrable Securities of any seller who fails to furnish such information that is not otherwise readily available to the Company within ten (10) Business Days after receiving such request and
(C) the Company shall have no obligation to register under the Securities Act the Registrable Securities of a seller who so fails to furnish such information. 
  

SECTION 6. Indemnification. In the event any Registrable Securities are included in a Registration Statement pursuant to this Agreement:

  
 (a) To the fullest extent permitted by law,
the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Securities Act) for such Holder and each Person, if any, who controls a Holder or underwriter within the meaning of the Securities Act or the Exchange Act
and each officer, director, agent, affiliate and employee of each Holder, underwriter and controlling Person, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under the Securities Act, the
Exchange Act or other federal, state or other applicable law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following (collectively a “Violation”):
(i) any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement, including any preliminary Prospectus or final Prospectus contained therein, any document incorporated by reference in such Registration
Statement or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements made therein not misleading or (iii) any violation or
alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state or foreign securities law. In addition, the Company will
pay to a Holder, underwriter or controlling Person or officer, director, agent, affiliate or employee of a Holder, underwriter or controlling Person, in advance, any legal or other expenses expected to be incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 6(a) does not apply to amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of the Company, which consent may not be unreasonably withheld, conditioned or delayed. The Company shall notify the Holders promptly of the institution, threat or assertion of
any action, claim, suit, investigation or proceeding of which the Company is aware in connection with the transactions contemplated by this Agreement. 
  
 (b) To the fullest extent permitted by law, each Holder, severally and not jointly, will indemnify and hold harmless the Company, each of
its directors, each of its officers who has signed any applicable Registration Statement, each Person, if any, who controls the Company within the meaning of the Securities Act, any underwriter, any other stockholder selling 

  

 10 

 
securities in such Registration Statement and any controlling Person of any such underwriter or other stockholder, against any losses, claims, damages or
liabilities (joint or several) to which any of the foregoing Persons may become subject, under the Securities Act, the Exchange Act or other federal, state or other applicable law, insofar as such losses, claims, damages or liabilities (or actions
in respect thereto) arise out of or are based upon any Violation, in each case solely to the extent that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in such
Registration Statement, including any preliminary Prospectus or final Prospectus contained therein or any amendments or supplements thereto; provided, however, that the provisions of this Section 6(b) do not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of such Holder, which consent may not be unreasonably withheld, conditioned or delayed; provided, further, that, in no
event will any Holder’s obligations under this Section 6(b) exceed the net proceeds received by such Holder from the sale of Registrable Securities under the Registration Statement giving rise to such indemnification obligation. 
  
 (c) Promptly after receipt by an indemnified party under
this Section 6 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying
party a written notice of the commencement thereof and the indemnifying party will have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the
defense thereof, including the employment of counsel reasonably satisfactory to the indemnified party, if (A) the indemnifying party acknowledges its obligation to indemnify the indemnified party for any losses, damages or liabilities resulting from
such claim and provide reasonable evidence to the indemnified party of its financial ability to satisfy such obligation; (B) the claim does not seek to impose any liability or obligation on the indemnified party other than for money damages; and (C)
the claim does not relate to the indemnified party’s relationship with its customers or employees. An indemnified party shall have the right to employ separate counsel in any such action, claim, suit, investigation or proceeding and to
participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless: (1) the indemnifying party has agreed in writing to pay such fees and expenses; (2) the indemnifying
party shall have failed promptly to assume the defense of such action, claim, suit, investigation or proceeding and to employ counsel reasonably satisfactory to such indemnified party in any such action, claim, suit, investigation or proceeding; (3)
the indemnifying party is not entitled to assume and control the defense of any such action, claim, suit, investigation or proceeding pursuant to clauses (A), (B) or (C) of the immediately preceding sentence; or (4) such indemnified party shall have
been advised by counsel that a conflict of interest is likely to exist if one counsel were to represent such indemnified party and the indemnifying party (in which case, if such indemnified party notifies the indemnifying party in writing that it
elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense thereof and the reasonable fees and expenses of one separate counsel for all indemnified parties shall
be at the expense of the indemnifying party). The indemnifying party will not be liable for any settlement of any action, claim, suit, investigation or proceeding effected without its consent, which consent may not be unreasonably withheld,
conditioned or delayed. No indemnifying party shall, without the prior written consent of the indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof an unconditional
release of 

  

 11 

 
such indemnified party from all liability in respect of such claim or litigation. The failure by the indemnified party to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any obligation or liability to the indemnified party under this Section 6, except (and only) to the extent that such
failure shall have materially prejudiced the indemnifying party. 
  
 (d) If the indemnification provided for in this Section 6 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred
to herein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, will contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such
proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage or
expense as well as any other relevant equitable considerations; provided, however, that, in no event will any contribution by a Holder under this Section 6(d) exceed the net proceeds received by such Holder from the sale of Registrable
Securities under the Registration Statement giving rise to such indemnification obligation. The relative fault of the indemnifying party and of the indemnified party will be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 6(d) were determined by pro rata allocation or by any other method
of allocation that does not take into account the equitable considerations referred to in the immediately preceding sentence. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The amount paid or payable by a party as a result of any loss, liability, claim, damage or expense shall be deemed to include, in the case of any
Person indemnified by the Company under Section 6(a), subject to the limitations set forth in Section 6(c), any reasonable attorneys’ or other reasonable fees or expenses of such party in connection with any action, claim, suit, investigation
or proceeding to the extent such Person would have been indemnified for such fees or expenses if the indemnification provided for in Section 6(a) had been available to such party in accordance with its terms. 
  
 (e) Notwithstanding the foregoing, to the extent that the
provisions on indemnification and contribution contained in an underwriting agreement entered into in connection with any underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement will
control. 
  
 (f) The obligations of the Company
and Holders under this Section 6 will survive the completion of any offering of Registrable Securities under any Registration Statement or otherwise. 
  

 12 

 SECTION 7. Reports Under the Exchange Act. 
  
 (a) The Company shall file as and when applicable, on a
timely basis, all reports required to be filed by it under the Exchange Act. The Company shall take such further action as may be reasonably required from time to time and as may be within the reasonable control of the Company, to enable the Holders
to Transfer Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 or any other exemption from registration. Upon the request of any Holder of Registrable Securities, the
Company will deliver to such Holder a written statement that it has complied with such requirements. 
  
 (b) In connection with any Transfer by a Holder of any Registrable Securities pursuant to Rule 144, the Company shall cooperate with such
Holder to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any legend restricting the resale or other Transfer thereof, and enable certificates for such Registrable
Securities to be for such number of shares and registered in such names as the Holder may reasonably request at least two (2) business days prior to any sale of Registrable Securities. 
  
 (c) So long as a Registration Statement is effective covering the resale of Registrable Securities owned by
a Holder, the Company will furnish to such Holder: (i) as soon as practicable after it is available, one copy of (A) its annual report to stockholders (which annual report shall contain financial statements audited in accordance with generally
accepted accounting principles by a national firm of certified public accountants) and (B) its annual report on Form 10-KSB (the foregoing, in each case, excluding exhibits); and (ii) upon the request of the Holder, all exhibits excluded by the
parenthetical to clause (i) of this Section 7(c) as filed with the Commission and all other information that is made available to shareholders of the Company. 
  

SECTION 8. Registration Expenses. All fees and expenses (including the legal fees and expenses of a single counsel representing the Holders)
that relate to the administration of, performance of or compliance with this Agreement by the Company and the Holders shall be borne by the Company, whether or not any Registrable Securities are sold pursuant to a Registration Statement or
otherwise; provided that legal fees and expenses of the Holders incurred in connection with their review of a Shelf Registration Statement shall be borne by the Holders. 
  
 SECTION 9. Assignment of Rights. Except as expressly provided in this Section 9, the rights of the parties hereto
cannot be assigned to any other Person and any purported assignment or transfer to the contrary shall be void ab initio. So long as the terms of this Section 9 are followed, any Holder may assign any of its rights under this Agreement,
without the consent of the Company, to any Person to whom such Holder Transfers any Registrable Securities. 
  
 SECTION 10. Miscellaneous Provisions. 
  
 (a) Waivers and Amendments. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended or
waived except pursuant to a written instrument 

  

 13 

 
executed by the Company and the Holders that hold at least two-thirds (66 2/3%) of the Registrable Securities held by all Holders. Any amendment or waiver effected in accordance with this paragraph shall be binding upon all Holders and the Company. The
failure of any party to exercise any right or remedy under this Agreement or otherwise, or the delay by any party in exercising such right or remedy, shall not operate as a waiver thereof. 
  
 (b) Notices. All notices and other communications
required or permitted hereunder must be in writing and, except as otherwise noted herein, must be addressed as follows: 
  
 (i) if to the Company, to: 
  
 World Health Alternatives, Inc. 
 300 Penn Center Boulevard, Suite 201 
 Pittsburgh, Pennsylvania 15235 
 Attention: Richard E. MacDonald 
 Fax: 412-829-8905 
  
 (ii) if to any Holder, to the address shown on such Holder’s signature page hereto, marked for attention as there indicated, 
  
 or to such other address as the party to whom notice is to be given may have furnished to the other parties in writing in accordance with the provisions of this Section
10(b). Any such notice or communication will be deemed to have been received: (A) in the case of facsimile or personal delivery, on the date of such delivery; (B) in the case of nationally-recognized overnight courier, on the next Business Day after
the date sent; and (C) if by registered or certified mail, on the third Business Day following the date postmarked. 
  
 (c) Descriptive Headings and References. The descriptive headings herein have been inserted for convenience only and are not deemed
to limit or otherwise affect the construction of any provisions hereof. 
  
 (d) Governing Law; Consent to Jurisdiction. This Agreement shall be governed by the laws of the State of Pennsylvania applicable to contracts made and to be performed entirely within such State. The parties
hereto irrevocably submit to the non-exclusive jurisdiction of any state or federal court sitting in the State of Pennsylvania over any suit, action or proceeding arising out of or relating to this Agreement. To the fullest extent they may
effectively do so under applicable law, the parties hereto irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction of any such court, any objection that they may
now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

 
 (e) WAIVER OF JURY TRIAL. EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL 

  

 14 

 
PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
  
 (f) Counterparts. This Agreement may be executed in
any number of counterparts, each of which when so executed and delivered shall be taken to be an original, and such counterparts shall together constitute but one and the same document. 
  
 (g) Entire Agreement. This Agreement, together with the Purchase Agreement and Warrant Agreement,
constitutes the full and entire understanding and agreement between the parties hereto with regard to the subject matter hereof and thereof. 
  
 (h) Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and
valid under applicable law, but if any provision of this Agreement shall be deemed prohibited or invalid under such applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, and such prohibition or
invalidity shall not invalidate the remainder of such provision or the other provisions of this Agreement. 
  
 (i) Third Party Beneficiaries. Except as expressly provided herein, no provision of this Agreement is intended to confer any
rights, benefits or remedies upon any Person other than the parties hereto and their respective successors and assigns. 
  
 (j) Remedies. The Holders, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
shall be entitled to specific performance of their rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by any Holder by reason of a breach by it of the provisions of this
Agreement and hereby agrees to waive in any action for specific performance the defense that a remedy at law would be adequate. 
  
 (k) Further Assurances. Each of the parties hereto shall execute and deliver such documents and perform such further acts
(including, without limitation, obtaining any consents, exemptions, authorizations or other actions by, or giving any notices to, or making any filings with, any governmental authority or any other Person) as may be reasonably required or desirable
to carry out or to perform the provisions of this Agreement. 
  
 [SIGNATURE PAGES FOLLOW] 
  

 15 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first set forth above.

  

					
	 WORLD HEALTH ALTERNATIVES, INC.

			
	 By:
	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 HOLDER SIGNATURE PAGES FOLLOW

  

 HOLDER SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 
  
 The undersigned Holder hereby executes this counterpart signature page to the
Registration Rights Agreement, dated as of July     , 2004 by and among World Health Alternatives, Inc. and certain Holders, including the undersigned. 
  

			
	 
	 Name of Holder (Please print)

		
	 By:
	 	 
	 	 	(Signature)
		
	 By:
	 	 
	 	 	(Second signature, if necessary)

			
		
	 Print Name:
	 	 

			
		
	 Title:
	 	 

			
		
	 Address:
	 	 
		
	 	 	 
		
	 	 	 
		
	 Phone:
	 	 

			
		
	 Fax:
	 	 

  

 Exhibit A 
  

Schedule of Holders 
  

 A-1

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