Document:

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                                                                    EXHIBIT 10.7

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1993, AS AMENDED, AND MAY NOT BE SOLD OR TRANSFERRED
EXCEPT PURSUANT TO AN EXEMPTION FROM, OR OTHERWISE IN A TRANSACTION NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF SUCH ACT. IN ADDITION, THE WARRANT SHARES
ISSUABLE UPON EXERCISE OF THIS WARRANT ARE SUBJECT TO THE LIMITATIONS ON
TRANSFER SET FORTH IN THE STOCKHOLDERS AGREEMENT, DATED AUGUST 11, 1997, AMONG
THE CORPORATION AND THE STOCKHOLDERS IDENTIFIED THEREIN (THE "STOCKHOLDERS
AGREEMENT"). A COPY OF THE STOCKHOLDERS AGREEMENT IS AVAILABLE FOR INSPECTION
AT THE PRINCIPAL OFFICE OF THE CORPORATION AND WILL BE FURNISHED WITHOUT CHARGE
TO THE HOLDERS HEREOF UPON WRITTEN REQUEST TO THE CORPORATION.

                               W-H HOLDINGS, INC.

                              Warrant to Purchase
                                  4,500 Shares
                            of Class A Common Stock

                                                                 August 11, 1997

                         Common Stock Purchase Warrant

          THIS Common Stock Purchase Warrant (the "Warrant") CERTIFIES that,
for value received, WILLIAM J. THOMAS, III ("the Warrant Holder" or "Holder"),
is entitled to purchase from W-H HOLDINGS, INC. a Texas corporation (the
"Corporation"), 4,500 shares of the Class A Common Stock, $1.00 par value per
share (the "Common Stock"), of the Corporation, at the price (the "Exercise
Price") of $73.00 per share, subject to adjustment, in each case, as provided
herein, at any time or from time to time during the period commencing on the
date hereof and ending  at 5:00 P.M. on the fifth anniversary of the date
hereof (the "Expiration Date").

          This Warrant has been issued pursuant to (i) the Agreement and Plan
of Recapitalization (the "Recapitalization Agreement") dated August 11, 1997,
between the Corporation, W-H Investment, Inc. ("the Stock Purchaser") and the
other stockholders identified therein, (ii) the Subscription Agreement (the
"Subscription Agreement") dated August 11, 1997 between the Corporation and the
Stock Purchaser, and (iii) the Stockholders Agreement (the "Stockholders
Agreement") dated August 11, 1997, between the Corporation, the Stock Purchaser
and the stockholders identified therein, and the sale and transfer of all
Shares issued by the
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Corporation upon exercise of this Warrant is subject to the terms and
conditions, and entitled to the benefits of the Stockholders Agreement, which
is available for inspection at the principal office of the Corporation and will
be furnished without charge to the Warrant Holder upon written request to the
Corporation.

                                   ARTICLE I

                                  DEFINITIONS

          SECTION 1.1. Definitions. As used in this Agreement, the following
terms shall have the following meanings:

          "Assignment Form" shall mean the assignment form attached as Annex 2
hereto.

          "Common Stock" shall mean the Class A Common Stock, $1.00 par value,
of the Corporation.

          "Corporation" shall have the meaning given to such term in the
Preamble.

          "Delivery Date" shall have the meaning given to such term in Section
3.2.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

          "Exchange Form" shall mean the exchange form attached as Annex 3
hereto.

          "Excluded Securities" shall mean:

          (i)    shares of capital stock issued pursuant to a stock dividend or
a stock split or other subdivision of shares;

          (ii)   Common Stock issued upon exercise of the Warrant;

          (iii)  securities issued by the Corporation in a Qualified Public
Offering;

          (iv)   securities issued pursuant to the direct or indirect bona fide
acquisition by the Corporation of any Person that is not an Affiliate, whether
by merger, purchase of stock, purchase of assets or otherwise; and

          (v)    Common Stock issued under the New Management Option Plan.

          "Executive Officer" shall mean, with respect to the Corporation, its
President, Chief Financial Officer or Treasurer.

          "Exercise Form" shall mean the exercise form attached as Annex I
hereto.

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          "Exercise Price" shall mean $73.00 per share of Common Stock, subject
to adjustment from time to time in the manner provided in Section 3.4.

          "Expiration Date" shall mean October 9, 2002.

          "Financial Offering" shall mean the Chief Financial Officer,
Treasurer or Assistant Treasurer of the Corporation.

          "Fully Diluted Basis" means, as applied to the calculation of the
number of shares of Common Stock outstanding at any time, after giving effect to
(a) all shares of Common Stock outstanding at the time of determination, (b) all
shares of Common Stock issuable upon the exercise of any option, warrant
(including the Warrants and the options issuable or issued under the New
Management Option Plan) or similar right to purchase Common Stock outstanding at
the time of determination and then exercisable at a per share price equal to or
less than the price per share of Common Stock being determined and (c) all
shares of Common Stock issuable upon the conversion or exchangeable of any
security convertible into or exchangeable for shares of Common Stock outstanding
at the time of determination and then so convertible or exchangeable at a
conversion or exchange price equal to or less than the price per share of Common
Stock being determined. Such calculation will not be made in accordance with the
"treasury method."

          "Holder" shall have the meaning given to such term in Section 2.1.

          "NASDAQ" shall mean the NASDAQ National Market or the NASDAQ Smallcap
Market.

          "Publicly Traded" shall mean, with respect to any security, that such
security is (a) listed on a domestic securities exchange, (b) quoted on NASDAQ
or (c) traded in the domestic over-the-counter market, which trades are reported
by the National Quotation Bureau, Incorporated.

          "Qualified Public Offering" shall mean (a) an underwritten initial
public offering of the Common Stock registered under the Securities Act, which
offering results in net proceeds to the Corporation of at least $25,000,000, and
after which the shares of Common Stock are Publicly Traded and (b) subsequent
public offerings of the Common Stock registered under the Securities Act.

          "Requisite Holders" shall mean Holders holding Warrants or Warrant
Shares representing at least 51% of all Warrant Shares issued or issuable upon
exercise of the Warrant outstanding on the date of determination.

          "Warrant" shall have the number given to such term in the preamble.

          "Warrant Register" shall have the meaning given to such term in
Section 2.1.

          "Warrant Shares" shall mean (a) the shares of Common Stock issued or
issuable upon exercise of a Warrant in accordance with Section 3.1 or upon
exchange of a Warrant in accordance with Section 2.2 and (b) any securities of
the Corporation distributed with respect to the securities

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referred to in the preceding clause (a). As used in this Agreement, the phrase
"Warrant Shares then held" by any Holder or Holders shall mean Warrant Shares
held at the time of determination by such Holder or Holders, and shall include
Warrant Shares issuable upon exercise of Warrants held at the time of
determination by such Holder or Holders.

          SECTION 1.2.  Interpretation. Unless the context of this Warrant
clearly requires otherwise, references to the plural include the singular, to
the singular include the plural, and to the part include the whole. The term
"including" is not limiting and the term "or" has the inclusive meaning
represented by the term "and/or." The words "hereof," "herein," "hereunder,"
and similar terms in this Warrant refer to this Warrant as a whole and not to
any particular provision of this Warrant. References of "Articles", "Sections,"
"Subsections," "Exhibits," and "Schedules" are to Articles, Section,
Subsections, Exhibits and Schedules, respectively, of this Warrant, unless
otherwise specifically provided. Terms defined herein may be used in the
singular or the plural.

                                 ARTICLE II

                FORM; EXCHANGE FOR WARRANTS; TRANSFER; TAXES

          SECTION 2.1. Warrant Register. This Warrant shall be registered in a
warrant register (the "Warrant Register"). The Warrant Register shall set forth
the number of the Warrant, the name and address of the holder (a "Holder")
thereof, and the original number of Warrant Shares purchasable upon the exercise
thereof. The Warrant Register will be maintained by the Corporation and will be
available for inspection by any Holder at the principal office of the
Corporation or such other location as the Corporation may designate to the
Holders in the manner set forth in this Warrant. The Corporation shall be
entitled to treat the Holder of any Warrant as the owner in fact thereof for all
purposes and shall not be bound to recognize any equitable or other claim to or
interest in such Warrant on the part of any other person. The Corporation shall
not be liable for complying with a request by a fiduciary or nominee of a
fiduciary to register a transfer of any Warrant which is registered in the name
of such fiduciary or nominee, unless made with the actual knowledge that such
fiduciary or nominee is committing a breach of trust in requesting such
registration of transfer, or with knowledge of such facts that the Corporation's
participation therein amounts to bad faith.

          SECTION 2.2. Exchange of Warrants for Warrants. (a) The Holder may
exchange this Warrant for another Warrant or Warrants of like kind and tenor
representing in the aggregate the right to purchase the same number of Warrant
Shares which could be purchased pursuant to the Warrant being so exchanged. In
order to effect an exchange permitted by this Section 2.2, the Holder shall
deliver to the Corporation such Warrant accompanied by an Exchange Form in the
form attached hereto as Annex 3 signed by the Holder thereof specifying the
number and denominations of Warrants to be issued in such exchange and the
names in which such Warrants are to be issued. Within ten (10) Business Days of
receipt of such a request, the Corporation shall issue, register and deliver to
the Holder thereof each Warrant to be issued in such exchange.

          (b)  Upon receipt of evidence reasonably satisfactory to the
Corporation (an affidavit of the Holder being satisfactory) of the ownership
and the loss, theft, destruction or mutilation of any Warrant, and in the case
of any such loss, theft or destruction, upon receipt of an indemnity

                                        -4-
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reasonably satisfactory to the Corporation (if the Holder is a creditworthy
financial institution or other creditworthy institutional investor its own
agreement being satisfactory) or, in the case of any such mutilation, upon
surrender of such Warrant, the Corporation shall (at its expense) execute and
deliver in lieu of such Warrant a new Warrant of like kind representing the same
rights represented by and dated the date of such lost, stolen, destroyed or
mutilated Warrant. Any such new Warrant shall constitute an original contractual
obligation of the Corporation, whether or not the allegedly lost, stolen,
mutilated or destroyed Warrant shall be at any time enforceable by any Person.

          (c) The Corporation shall pay all taxes (other than any applicable
income or similar taxes payable by a Holder of a Warrant) attributable to an
exchange of a Warrant pursuant to this Section 2.2; provided, however, that the
Corporation shall not be required to pay any tax which may be payable in respect
of any transfer involved in the issuance of any Warrant in a name other than
that of the Holder of the Warrant being exchanged.

          SECTION 2.3. Transfer of Warrant. (a) Subject to Section 2.3(c) hereof
and the Stockholders Agreement, each Warrant may be transferred by the Holder
thereof by delivering to the Corporation such Warrant accompanied by a properly
completed Assignment Form in the form of Annex 2. Within ten (10) Business Days
of receipt of such Assignment Form the Corporation shall issue, register and
deliver to the Holder, subject to Section 2.3(c) hereof, a new Warrant or
Warrants of like kind and tenor representing in the aggregate the right to
purchase the same number of Warrant Shares which could be purchased pursuant to
the Warrant being transferred. In all cases of transfer by an attorney, the
original power of attorney, duly approved, or a copy thereof, duly certified,
shall be deposited and remain with the Corporation. In case of transfer by
executors, administrators, guardians or other legal representatives, duly
authenticated evidence of their authority shall be produced and may be required
to be deposited and remain with the Corporation in its discretion.

          (b) Each Warrant issued in accordance with this Section 2.3 shall bear
the restrictive legend set forth on the face of this Warrant, unless the Holder
or transferee thereof supplies to the Corporation an opinion of counsel,
reasonably satisfactory to the Corporation that the restrictions described in
such legend are no longer applicable to such Warrant.

          (c) The transfer of Warrants and Warrant Shares shall be permitted, so
long as such transfer is pursuant to a transaction that complies with, or is
exempt from, the provisions of the Securities Act, and the Corporation may
require an opinion of counsel in form and substance reasonably satisfactory to
it to such effect prior to effecting any transfer of Warrants or Warrant Shares.

                                   ARTICLE III

                EXERCISE OF WARRANT; EXCHANGE FOR WARRANT SHARES

          SECTION 3.1. Exercise of Warrants. On any Business Day prior to the
Expiration Date, a Holder may exercise a Warrant, in whole or in part, by
delivering to the Corporation such Warrant accompanied by a properly completed
Exercise Form in the form of Annex 1 and a check in an aggregate amount equal to
the product obtained by multiplying (a) the Exercise Price by (b) the

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number of Warrant Shares being purchased; provided, however, in the event the
Holder exercises this Warrant in connection with or immediately prior to a sale
by the Holder of Warrant Shares, in lieu of paying the applicable Exercise Price
therefor, the Holder may elect to receive that number of Warrant Shares which is
equal to the number of shares for which this Warrant is being exercised less the
number of shares having a fair market value (determined by reference to the
price per share at which the Holder is selling the Warrant Shares) equal to such
applicable Exercise Price. Any partial exercise of a Warrant shall be for a
whole number of Warrant Shares only.

          SECTION 3.2. Issuance of Common Stock.

          (a) Within ten (10) Business Days following the delivery date (the
"Delivery Date") of (i) an Exercise Form or Exchange Form in accordance with
Section 3.1 or 3.2, (ii) a Warrant and (iii) any required payments of the
Exercise Price, the Corporation shall issue and deliver to the Holder a
certificate or certificates, registered in the name or names set forth on such
notice, representing the Warrant Shares being purchased or to be received upon
such exchange.

          (b) If a Holder shall exercise or exchange a Warrant for less than all
of the Warrant Shares which could be purchased or received thereunder, the
Corporation shall issue to the Holder, within ten (10) Business Days of the
Delivery Date, a new Warrant evidencing the right to purchase the remaining
Warrant Shares. Each Warrant surrendered pursuant to Section 3.1 shall be
canceled.

          (c) The Corporation shall pay all taxes (other than any applicable
income or similar taxes payable by a Holder of a Warrant) attributable to the
initial issuance of Warrant Shares upon the exercise or exchange of a Warrant;
provided, however, that the Corporation shall not be required to pay any tax
which may be payable in respect of any transfer involved in the issuance of any
Warrant or any certificate for Warrant Shares in a name other than that of the
Holder of the Warrant being exercised or exchanged.

          (d) The person in whose name any certificate for shares of Common
Stock is issued upon exercise or exchange of a Warrant shall for all purposes be
deemed to have become the holder of record of such shares on the Delivery Date,
irrespective of the date of delivery of such certificate, except that, if the
Delivery Date is a date when the stock transfer books of the Corporation are
closed, such person shall be deemed to have become the holder of record of such
shares at the close of business on the next succeeding date on which the stock
transfer books are open.

          (e) If any shares of Common Stock required to be reserved for purposes
of the exercise or exchange of a Warrant require registration or approval under
any applicable law, the Corporation will in good faith and as expeditiously as
possible cause such shares to be registered or seek such approval, as
applicable. The Corporation may suspend the exercise of any Warrant so affected
for the period during which such registration or approval is required but not in
effect.

          SECTION 3.3. Adjustment of Exercise Price and Number of Warrant
Shares. The number and kind of Warrant Shares purchasable upon exercise of each
Warrant shall be subject to adjustment from time to time in accordance with this
Section 3.3.

                                       -6-

<PAGE>   7
          SECTION 3.3.1. Subdivisions or Combinations of Common Stock. If, at
any time after the Closing Date, (a) the number of shares of Common Stock
outstanding is increased by a dividend or other distribution payable in shares
of Common Stock or by a subdivision or split-up of shares of Common Stock or (b)
the number of shares of Common Stock outstanding is decreased by a combination
or reverse stock split of shares of Common Stock, then, in each case, effective
as of the effective date of such event retroactive to the record date, if any,
of such event, (i) the Exercise Price shall be adjusted to a price determined by
multiplying (A) the Exercise Price in effect immediately prior to such event by
(B) a fraction, the numerator of which shall be the number of shares of Common
Stock outstanding immediately prior to such event and the denominator of which
shall be the number of shares of Common Stock outstanding after giving effect to
such event, and (ii) the number of Warrant Shares subject to purchase upon the
exercise of any Warrant shall be adjusted effective at such time, to a number
equal to the product of (A) the number of Warrant Shares subject to purchase
upon the exercise of such Warrant immediately prior to such event by (B) a
fraction, the numerator of which shall be the number of shares of Common Stock
outstanding on a Fully Diluted Basis after giving effect to such event and the
denominator of which shall be the number of shares of Common Stock outstanding
on a Fully Diluted Basis immediately prior to such event.

          SECTION 3.3.2. Capital Reorganization or Capital Reclassifications.
If, at any time after the Closing Date, there shall be any capital
reorganization or any reclassification of the capital stock of the Corporation
(other than a change in par value or from par value to no par value or from no
par value to par value or as a result of a stock dividend or subdivision,
split-up or combination of shares), then in each case the Corporation shall
cause effective provision to be made so that each Warrant shall, effective as of
the effective date of such event retroactive to the record date, if any, of such
event, be exercisable or exchangeable for the kind and number of shares of
stock, other securities, cash or other property to which a holder of the number
of shares of Common Stock deliverable upon exercise or exchange of such Warrant
would have been entitled upon such reorganization or reclassification and any
such provision shall include adjustments in respect of such stock, securities or
other property that shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Warrant with respect to such Warrant.

          SECTION 3.3.3. Consolidations and Mergers. If, at any time after the
date hereof, the Corporation shall consolidate with, merge with or into, or
sell all or substantially all of its assets or property to, another
corporation, then the Corporation shall cause effective provision to be made so
that this Warrant shall, effective as of the effective date of such event
retroactive to the record date, if any, of such event, be exercisable or
exchangeable for the kind and number of shares of stock, other securities, cash
or other property to which a holder of the number of shares of Common Stock
deliverable upon exercise or exchange of this Warrant would have been entitled
upon such event.

          SECTION 3.3.4. Notice; Calculations; Etc. Whenever the Exercise Price
and the number of Warrant Shares shall be adjusted as provided in this Section
3.3, the Corporation shall provide to each Holder a statement, signed by an
Executive Officer, describing in detail the facts requiring such adjustment and
setting forth a calculation of the Exercise Price and the number of Warrant
Shares applicable to each Warrant after giving effect to such adjustment. All
calculations under this Section 3.3 shall be made to the nearest one hundredth
of a cent ($.0001) or so to the nearest one-tenth of a share, as the case may
be.

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          SECTION 3.3.5. Excluded Transactions. Notwithstanding any other
provision of this Warrant, no adjustment shall be made pursuant to this Section
3.3 in respect of the issuance of Excluded Securities.

                                   ARTICLE IV

                                 MISCELLANEOUS

          SECTION 4.1. Notices. All notices, demands and requests of any kind
to be delivered to any party hereto in connection with this Agreement shall be
in writing (i) delivered personally, (ii) sent by nationally-recognized
overnight courier, (iii) sent by first class, registered or certified mail,
return receipt requested or (iv) sent by facsimile, in each case to such party
at its address as follows:

          (a)  if to the Corporation, to:

               W-H Holdings, Inc.
               10370 Richmond Avenue
               Suite 650
               Houston, TX 77042

               Telephone:  (713) 974-9071
               Telecopier: (713) 974-7029

               with a copy to:

               The Jordan Company
               9 West 57th Street
               New York, NY 10019

               Telephone:  (212) 572-0800
               Telecopier: (212) 755-5263

          (b)  if the Holder, to:

               William J. Thomas, III
               4301 Sugar Oaks Road
               New Iberia, LA 70560

Any notice, demand or request so delivered shall constitute valid notice under
this Warrant and shall be deemed to have been received (i) on the day of actual
delivery in the case of personal delivery, (ii) on the next Business Day after
the date when sent in the case of delivery by nationally-recognized overnight
courier, (iii) on the fifth Business Day after the date of deposit in the U.S.
mail in the case of mailing or (iv) upon receipt in the case of a facsimile
transmission. Any party hereto may from time to time by notice in writing
served upon the other as aforesaid designate a different mailing

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address or a different Person to which all such notices, demands or requests
thereafter are to be addressed.

          SECTION 4.2. No Voting Rights; Limitations of Liability. No Warrant
shall entitle the holder thereof to any voting rights or, except as otherwise
provided herein, other rights of a stockholder of the Corporation, as such. No
provision hereof, in the absence of affirmative action by the Holder to
purchase Warrant Shares, and no enumeration herein of the rights or privileges
of the Holder shall give rise to any liability of such Holder for the Exercise
Price of Warrant Shares acquirable by exercise hereof or as a stockholder of
the Corporation.

          SECTION 4.3. Amendments and Waivers. Any provision of this Agreement
may be amended or waived, but only pursuant to a written agreement signed by
the Corporation and the Holder of this Warrant.

          SECTION 4.4. Severability. Any provision of this Warrant which is
prohibited or unenforceable in any jurisdiction shall, as to such provision and
such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Warrant
affecting the validity or enforceability of such provision in any other
jurisdiction.

          SECTION 4.5. Specific Performance. Each Holder shall have the right
to specific performance by the Corporation of the provisions of this Warrant,
in addition to any other remedies it may have at law or in equity. The
Corporation hereby irrevocably waives, to the extent that it may do so under
applicable law, any defense based on the adequacy of a remedy at law which may
be asserted as a bar to the remedy of specific performance in any action
brought against the Corporation for specific performance of this Warrant by the
Holder of the Warrant or Warrant Shares.

          SECTION 4.6. Binding Effect. This Warrant shall be binding upon and
inure to the benefit of the Corporation, each Holder and their respective
successors and assigns.

          SECTION 4.7. Counterparts. This Warrant may be executed by the
parties hereto in several counterparts, each of which shall be deemed to be an
original and all of which shall constitute together but one and the same
agreement. This Warrant shall become effective when counterparts hereof
executed on behalf of the Corporation and each Holder shall have been received.

          SECTION 4.8. Governing Law; Entire Agreement. THIS WARRANT SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NEW YORK.

          SECTION 4.9. Benefits of this Agreement. Nothing in this Warrant
shall be construed to give to any Person other than the Corporation and each
Holder of a Warrant or a Warrant Share any legal or equitable right, remedy or
claim hereunder.

          SECTION 4.10. Headings. The various headings of this Warrant are
inserted for convenience only and shall not affect the meaning or
interpretation of this Warrant or any provisions hereof or thereof.

                                       -9-
<PAGE>   10

     IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be duly
executed and delivered by their authorized officers, all as of the date and
year first above written.

                                        W-H HOLDINGS, INC.

                                        By: /s/ KENNETH T. WHITE, JR.
                                           ----------------------------
                                           Name:  Kenneth T. White, Jr.
                                           Title: Chairman and CEO

ATTEST:

By: /s/ DAVID N. ELIFF
   ------------------------------
   Name:  David N. Eliff
   Title: Vice President & CFO

                                       -10-
<PAGE>   11

                                                                         ANNEX 1

                            ELECTION TO EXERCISE FORM

                 (To Be Executed By The Holders of This Warrant

                       In Order to Exercise This Warrant)

         The undersigned hereby irrevocably elects to exercise the right to
purchase ________________ shares of Class A Common Stock of W-H Holdings, Inc.
covered by this Warrant according to the conditions hereof and herewith makes
payment of the Exercise Price of such shares in full.

                                               ---------------------------------
                                                           Signature

                                               ---------------------------------

                                               ---------------------------------
                                                           Address

Dated:
      -------------------------------

<PAGE>   12

                                                                         ANNEX 2

                                 ASSIGNMENT FORM

                  (To Be Executed By The Holder of This Warrant

                  In Order to Assign This Warrant Certificate)

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto _____________________________ this Warrant and all rights evidenced thereby
and does irrevocably constitute and appoint_________________________, attorney,
to transfer the said Warrant on the books of the Corporation.

                                               ---------------------------------
                                                           Signature

                                               ---------------------------------

                                               ---------------------------------
                                                           Address

Dated:
      -------------------------------

<PAGE>   13

                                                                         ANNEX 3

                                  EXCHANGE FORM

                  (To Be Executed By The Holder of This Warrant

                  In Order to Assign This Warrant Certificate)

         The undersigned hereby irrevocably elects to exchange this Warrant to
purchase __________________ shares of Class A Common Stock of W-H Holdings, Inc.
covered by this Warrant for______________________ Warrants to purchase the
denominations of shares of Class A Common Stock set forth below to the persons
named and hereby sells, assigns and transfers unto such persons that portion of
this Warrant represented by such new Warrants and all rights evidenced thereby
and does irrevocably constitute and appoint __________________________,
attorney, to exchange and transfer this Warrant as aforesaid on the books of the
Corporation

Number of Warrant Shares                       Assignee

-----------------                              ---------------------------------

-----------------                              ---------------------------------

                                               ---------------------------------
                                                           Signature

                                               ---------------------------------

                                               ---------------------------------
                                                           Address

FOR USE BY THE CORPORATION ONLY:

This Warrant No. ___ canceled (or transferred or exchanged) this ___ day
of______________ shares of Class A Common Stock issued therefor in the name of
___________, Warrant No. ____ for _________ shares of Class A Common Stock in
the name of ________________________.

Dated:
      -------------------------------<PAGE>   1
                                                                    EXHIBIT 10.8

                        FORM OF INDEMNIFICATION AGREEMENT
                                (______________)

         This INDEMNIFICATION AGREEMENT (this "Agreement") is effective as of
May 1, 2000, between W-H Energy Services, Inc., a Texas corporation (the
"Corporation"), and ____________________ (the "Indemnitee").

         WHEREAS, the Corporation has requested that Indemnitee serve as an
officer and/or director of the Corporation and/or one or more of its
subsidiaries or affiliates; and

         WHEREAS, as partial consideration for the agreement by Indemnitee to
serve and/or to continue to serve as an officer and/or a director of the
Corporation and/or one or more of its subsidiaries or affiliates, the
Corporation has agreed to enter into this Agreement providing for
indemnification by the Corporation of Indemnitee for matters contained herein to
the fullest extent allowed by applicable law; and

         WHEREAS, it is reasonable, prudent and necessary for the Corporation to
obligate itself contractually to indemnify Indemnitee so that he will serve or
continue to serve the Corporation free from undue concern that he will not be
adequately protected;

         NOW, THEREFORE, in consideration of the premises and the covenants
contained herein, the Corporation and Indemnitee do hereby covenant and agree as
follows:

         1.       DEFINITIONS.   As used in this Agreement:

         (a) The term "Proceeding" shall include any threatened, pending or
contemplated action, suit, inquiry or proceeding, whether brought by or in the
right of the Corporation or otherwise and whether of a civil, criminal,
administrative, arbitrative or investigative nature, in which Indemnitee is or
will be involved as a party, as a witness or otherwise, by reason of (i) the
fact that Indemnitee is or was a director, officer, employee or agent of the
Corporation, (ii) any action taken by Indemnitee or any inaction on his part
while acting as a director, officer, employee or agent or (iii) the fact that
Indemnitee is or was serving at the request of the Corporation as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust, limited liability company or other enterprise, in each case, whether or
not he is acting or serving in any such capacity at the time any liability or
expense is incurred for which indemnification or reimbursement can be provided
under this Agreement; provided, however, that any such action, suit or
proceeding which is brought by Indemnitee against the Corporation or directors
or officers of the Corporation, other than an action brought by Indemnitee to
enforce his rights under this Agreement, shall not be deemed a Proceeding
without the prior approval by a majority of the Board of Directors of the
Corporation;

         (b) The term "Expenses" shall include, without limitation, (i) any
judgments, fines and penalties against Indemnitee in connection with a
Proceeding; (ii) amounts paid by Indemnitee in settlement of a Proceeding; and
(iii) all attorneys' fees and disbursements, accountants' fees, private
investigation fees and disbursements, retainers, court costs, transcript costs,
fees of experts, fees and expenses of witnesses, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service
fees, and all other disbursements, or expenses, reasonably incurred

<PAGE>   2

by or for Indemnitee in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, being or preparing to be a witness in a
Proceeding or establishing Indemnitee's right of entitlement to indemnification
for any of the foregoing;

         (c) References to "other enterprise" shall include employee benefit
plans;

         (d) References to "Fines" shall include any excise tax assessed with
respect to any employee benefit plan;

         (e) References to "serving at the request of the Corporation" shall
include any service as a director, officer, employee or agent of the Corporation
which imposes duties on, or involves services by, such director, officer,
employee or agent with respect to an employee benefit plan, its participants or
beneficiaries;

         (f) A person who acted in good faith and in a manner he reasonably
believed to be in the interests of the participants and beneficiaries of an
employee benefit plan shall be deemed to have acted in a manner "not opposed to
the best interest of the Corporation;"

         (g) The term "substantiating documentation" shall mean copies of bills
or invoices for costs incurred by or for Indemnitee, or copies of court or
agency orders or decrees or settlement agreements, as the case may be,
accompanied by a sworn statement from Indemnitee that such bills, invoices,
court or agency orders or decrees or settlement agreements, represent costs or
liabilities meeting the definition of "Expenses" herein; and

         (h) The terms "he" and "his" have been used for convenience and mean
"she" and "her" if Indemnitee is a female.

         2.  INDEMNITY OF DIRECTOR OR OFFICER; NOTICE.

         (a) The Corporation hereby agrees to hold harmless and indemnify
Indemnitee against all Expenses to the full extent authorized or permitted by
the provisions of the Texas Business Corporation Act (the "Texas Act"), or by
any amendment thereof, or by other statutory provisions authorizing or
permitting such indemnification adopted after the date hereof. This Agreement
shall constitute authorization of indemnification and advancement of expenses as
required by applicable law, and it is the intent of this Agreement to make
mandatory any indemnification and advancement of expenses permitted under
applicable law as the same may exist or may be hereafter amended including,
without limitation, pursuant to Article 2.02-1 (G), (K) and (N) and any
successor provision of the Texas Act. To the extent applicable law is amended to
permit or require indemnification in additional cases, this Agreement
automatically shall be amended to require indemnification of Indemnitee in such
additional cases.

         (b) Indemnitee shall give the Corporation prompt written notice of any
claim made against Indemnitee for which indemnification will or could be sought
under this Agreement.

         3. CHOICE OF COUNSEL. If Indemnitee is not an officer of the
Corporation, he, together with the other directors who are not officers of the
Corporation (the "Outside Directors"), shall be

                                      -2-
<PAGE>   3

entitled to employ, and be reimbursed for the Expenses associated with, counsel
separate from that chosen by Indemnitees who are officers of the Corporation
("Inside Directors"). In such case, the counsel for the Outside Directors
("Outside Directors' Counsel") shall be determined by majority vote of the
Outside Directors, and the counsel for the Inside Directors ("Inside Directors'
Counsel") shall be determined by majority vote of the Inside Directors. The
obligation of the Corporation to reimburse Indemnitee for the fees and
disbursements of counsel hereunder shall not extend to the fees and
disbursements of any counsel employed by Indemnitee other than Outside
Directors' Counsel or Inside Directors' Counsel, as the case may be, unless, in
the opinion of Outside Directors' Counsel or Inside Directors' Counsel, as the
case may be, then applicable legal ethical standards preclude such counsel from
representing Indemnitee and the other Outside Directors or Inside Directors, as
the case may be.

         4. ADVANCES OF EXPENSES. Expenses (other than judgments, penalties,
fines and settlements) incurred by Indemnitee shall, at Indemnitee's option, be
paid or reimbursed by the Corporation, in advance of the final disposition of a
Proceeding, within 10 days after receipt of Indemnitee's written request
accompanied by substantiating documentation and Indemnitee's written affirmation
that he has met the applicable standard of conduct for indemnification under the
Texas Act and a written undertaking to repay such amount to the Corporation to
the extent it is ultimately determined that Indemnitee is not entitled to
indemnification. No objections based on or involving the question whether such
charges meet the definition of "Expenses," including any question regarding the
reasonableness of such Expenses, shall be grounds for failure to make such
advance to Indemnitee, or to reimburse Indemnitee for, the amount claimed within
such 10-day period, and the undertaking of Indemnitee set forth in Section 6
hereof to repay any such amount to the extent it is ultimately determined that
Indemnitee is not entitled to indemnification shall be deemed to include an
undertaking to repay any such amounts determined not to have met such
definition.

         5. RIGHT OF INDEMNITEE TO INDEMNIFICATION UPON APPLICATION; PROCEDURE
UPON APPLICATION.

         (a) Any indemnification under this Agreement, other than pursuant to
Section 4 hereof, shall be made no later than 45 days after receipt by the
Corporation of the written request of Indemnitee, accompanied by substantiating
documentation, unless, in the case of indemnification that is permissive under
the Texas Act, within said 45-day period the (i) the Board of Directors by a
majority vote of a quorum consisting of directors who, at the time of the vote,
are not parties to such Proceeding or, if such a quorum cannot be obtained, by a
majority vote of a committee of the Board of Directors, designated by a majority
vote of all directors, consisting solely of two or more directors who, at the
time of the vote are not parties to such proceedings, or (ii) independent legal
counsel in a written opinion (which counsel shall be appointed as set forth in
(i) above, unless such quorum cannot be obtained and such committee cannot be
established, by a majority vote of all directors), determines that Indemnitee
has not met the standards contained in the Texas Act that must be satisfied for
indemnification to be available.

         (b) It is the intent of this Agreement to secure for Indemnitee rights
of indemnification that are as favorable as may be permitted under the law and
public policy of the State of Texas. In making a determination with respect to
entitlement to indemnification hereunder, the person or persons or entity making
such determination shall presume that Indemnitee is entitled to indemnification
under this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion, by clear and convincing evidence.
Neither the failure of the Corporation (including its Board of Directors or
independent legal counsel) to have made a determination prior to the
commencement of such action that indemnification is proper in

                                      -3-
<PAGE>   4

the circumstances because Indemnitee has met the applicable standards of
conduct, nor an actual determination by the Corporation (including its Board of
Directors or independent legal counsel) that Indemnitee has not met such
applicable standard of conduct, shall be a defense to the action or create a
presumption that Indemnitee has not met the applicable standard of conduct. The
right to indemnification or advances as provided by this Agreement shall be
enforceable by Indemnitee in any court of competent jurisdiction.

         6. UNDERTAKING BY INDEMNITEE. Indemnitee hereby undertakes to repay to
the Corporation any advances of Expenses pursuant to Section 4 hereof to the
extent that it is ultimately determined that Indemnitee is not entitled to
indemnification.

         7. INDEMNIFICATION HEREUNDER NOT EXCLUSIVE. The indemnification and
advancement of expenses provided by this Agreement shall not deemed exclusive of
any other rights to which Indemnitee may be entitled under the Corporation's
Articles of Incorporation or Bylaws, the Texas Act, any policy of directors and
officers liability insurance, any agreement, or otherwise, both as to action in
his official capacity and as to action in another capacity while holding such
office. However, Indemnitee shall reimburse the Corporation for amounts paid to
him pursuant to such other rights to the extent such payments duplicate any
payments received pursuant to this Agreement.

         8. CONTINUATION OF INDEMNITY. All agreements and obligations of the
Corporation contained herein shall continue during the period Indemnitee is a
director or officer of the Corporation (or is or was serving at the request of
the Corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust, limited liability company or
other enterprise) and shall continue thereafter so long as Indemnitee shall be
subject to any possible Proceeding.

         9. PARTIAL INDEMNIFICATION. If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Corporation for some or a
portion of Expenses, but not, however, for the total amount thereof, the
Corporation shall nevertheless indemnify Indemnitee for the portion of such
Expenses to which Indemnitee is entitled.

         10. SETTLEMENT OF CLAIMS. The Corporation shall not be liable to
indemnify Indemnitee under this Agreement for any amounts paid in settlement of
any Proceeding effected without the Corporation's written consent. The
Corporation shall not settle any Proceeding in any manner which would impose any
penalty or limitation on Indemnitee without Indemnitee's written consent.
Neither the Corporation nor Indemnitee will unreasonably withhold their consent
to any proposed settlement. The Corporation shall not be liable to indemnify
Indemnitee under this Agreement with regard to any judicial award if the
Corporation was not given a reasonable and timely opportunity, at its expense,
to participate in the defense of such action.

         11. ENFORCEMENT.

         (a) The Corporation expressly confirms and agrees that it has entered
into this Agreement and assumed the obligations imposed on the Corporation
hereby in order to induce Indemnitee to serve as a director and/or officer of
the Corporation, and acknowledges that Indemnitee is relying upon this Agreement
in continuing as a director and/or officer.

                                      -4-
<PAGE>   5

         (b) In the event Indemnitee is required to bring any action or other
proceeding to enforce rights or to collect moneys due under this Agreement and
is successful in such action, the Corporation shall reimburse Indemnitee for all
of Indemnitee's Expenses in bringing and pursuing such action.

         12. MUTUAL ACKNOWLEDGMENT. Both the Corporation and Indemnitee
acknowledge that in certain instances, federal law or public policy may override
applicable state law and prohibit the Corporation from indemnifying its
directors and officers under this Agreement or otherwise. For example, the
Corporation and Indemnitee acknowledge that the U.S. Securities and Exchange
Commission (the "SEC") has taken the position that indemnification is not
permissible for liabilities arising under certain federal securities laws, and
federal legislation prohibits indemnification for certain ERISA violations.
Indemnitee understands and acknowledges that the Corporation has undertaken or
may be required in the future to undertake with the SEC to submit the question
of indemnification to a court in certain circumstances for a determination of
the Corporation's right, under public policy, to indemnify Indemnitee.

         13. GOVERNING LAW; BINDING EFFECT; AMENDMENT AND TERMINATION.

         (a) This Agreement shall be interpreted and enforced in accordance with
the laws of the State of Texas.

         (b) This Agreement shall be binding upon the Corporation, its
successors and assigns, and shall inure to the benefit of Indemnitee, his heirs,
personal representatives and assigns and to the benefit of the Corporation, its
successors and assigns.

         (c) No amendment, modification, termination or cancellation of this
Agreement shall be effective unless in writing signed by the Corporation and
Indemnitee.

         14. SEVERABILITY. If any provision of this Agreement shall be held to
be invalid, illegal or unenforceable (a) the validity, legality and
enforceability of the remaining provisions of this Agreement shall not be in any
way affected or impaired thereby, and (b) to the fullest extent possible, the
provisions of this Agreement shall be construed so as to give effect to the
intent manifested by the provision held invalid, illegal or unenforceable. Each
section of this Agreement is a separate and independent portion of this
Agreement. If the indemnification to which Indemnitee is entitled as respects
any aspect of any claim varies between two or more sections of this Agreement,
that section providing the most comprehensive indemnification shall apply.

         15. NOTICE. Notice to the Corporation shall be directed to W-H Energy
Services, Inc., 10370 Richmond Avenue, Suite 990, Houston, Texas 77042,
Attention: President and Chief Executive Officer. Notice to Indemnitee shall be
directed to the address set forth under his signature hereto. The foregoing
addresses may be changed from time to time by the addressee upon notice to the
other parties.

                                      -5-
<PAGE>   6

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

                                     W-H ENERGY SERVICES, INC.

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     INDEMNITEE

                                     -------------------------------------------

                                     -------------------------------------------

                                     Address:
                                             -----------------------------------

                                     -------------------------------------------

                                     -------------------------------------------

                                      -6-

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