Document:

REGISTRATION RIGHTS AGREEMENT

          THIS  REGISTRATION  RIGHTS  AGREEMENT,  dated  as of May 18, 2001 (the
"Agreement"),  is  made among THE FEMALE HEALTH COMPANY, a Wisconsin corporation
(the  "Company"),  and the undersigned guarantors of certain indebtedness of the
Company  (individually,  a  "Investor"  and  collectively,  the  "Investors").

                                    RECITALS

          A.     The  Company  and  Heartland  Bank, a federal savings bank (the
"Lender")  have  entered  into  a  Loan  Agreement, dated as of the date of this
Agreement  (the  "Loan  Agreement"),  which provides, among other things, for an
unsecured  loan  of  up  to  $2,000,000  from  the  Lender  to  the  Company.

          B.     Pursuant  to  the  terms  of  section  4.1(a)(10)  of  the Loan
Agreement,  it is condition to the Lender's obligations under the Loan Agreement
that  each  Investor  enter  into  a  Guarantee (individually, a "Guarantee" and
collectively,  the  "Guarantees"), which provides, among other things, that such
Investor  shall  guarantee  the  Company's obligations under the Loan Agreement.

          C.     The  Company  has  agreed to issue warrants (the "Warrants") to
purchase  shares  of  the Company's Common Stock, par value $0.01 per share (the
"Common Stock"), to the Investors to induce each of the Investors to execute and
deliver  a Guarantee.  The shares of the Common Stock for which the Warrants are
exercisable  are  collectively  referred  to  herein  as  the  "Common  Shares."

          D.     To  induce  the  Investors  to  enter  into the Guarantees, the
Company  has  agreed to provide certain registration rights under the Securities
Act  of  1933,  as  amended,  and  the  rules and regulations thereunder, or any
similar  successor  statute (collectively, the "1933 Act"), and applicable state
securities  laws  with  respect  to  the  Common  Shares.

                                   AGREEMENTS

          In  consideration  of  the premises and the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which  are  hereby  acknowledged,  the Company and the Investors hereby agree as
follows:

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

               (a)     "Investors" includes the initial undersigned Investors as
well as any transferee or assignee of any of the initial Investors who agrees to
become  bound  by  the provisions of this Agreement in accordance with section 8
hereof.

               (b)     "Registrable  Securities"  means  the  Common  Shares,
together  with  any  shares of Common Stock which may be issued as a dividend or
other distribution and any additional shares of Common Stock which may be issued
due  to  anti-dilution  adjustments with respect to the Common Shares, which are
required to be included in a Registration Statement pursuant to section 2 below.

               (c)     "Registration  Period"  means the period between the date
of  this  Agreement  and  the  earlier  of  (i)  the  date  on  which all of the
Registrable Securities have been sold, or (ii) the date on which the Registrable
Securities  (in  the  reasonable  opinion  of  the  Company's  counsel)  may  be
immediately  sold without registration by other than affiliates pursuant to Rule
144(k)  under  the  1933  Act  or  any  similar  or  successor  rule.

               (d)     "Registration  Statement"  means a registration statement
filed  with  the  Securities  and Exchange Commission (the "SEC") under the 1933
Act.

               (e)     The  terms  "register,"  "registered," and "registration"
refer  to  a  registration  effected  by  preparing  and  filing  a Registration
Statement  in  compliance with the 1933 Act and applicable rules and regulations
thereunder,  and  the  declaration  or  ordering  of  effectiveness  of  such
Registration  Statement  by  the  SEC.

          2.     Registration.  The Company will use its reasonable best efforts
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to file within 60 days after the date of this Agreement a Registration Statement
with  the  SEC  registering  the  Registrable  Securities  for  resale.  The
Registration  Statement  will register for resale all of the Common Shares which
may  be issued on exercise of the Warrants.  The Company will use its reasonable
best  efforts  to  cause such Registration Statement to be declared effective by
the  SEC within 120 days after the date of this Agreement.  Such reasonable best
efforts  shall  include,  but  not  be  limited  to,  promptly responding to all
comments  received  from  the  staff  of  the  SEC.  Should  the Company receive
notification from the SEC that the Registration Statement will receive no action
or  no  review  from

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<PAGE>
the SEC, the Company shall cause such Registration Statement to become effective
within  five business days of such SEC notification.  Once declared effective by
the  SEC,  the  Company  shall  use  all  reasonable  best efforts to cause such
Registration  Statement  to remain effective throughout the Registration Period.

          3.     Additional  Obligations of the Company.  In connection with the
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registration of the Registrable Securities, the Company shall have the following
additional  obligations:

               (a)     The  Company  shall  keep  the  Registration  Statement
effective  pursuant  to  Rule  415  under  the  1933 Act at all times during the
Registration  Period  as  defined  in  section  1(c)  above.

               (b)     The  Registration  Statement (including any amendments or
supplements  thereto  and  prospectuses  contained therein) filed by the Company
shall  not  contain  any  untrue statement of a material fact or omit to state a
material fact required to be stated therein, or necessary to make the statements
therein,  in light of the circumstances in which they were made, not misleading.
The  Company  shall  prepare  and  file  with the SEC such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectus  used  in  connection  with  the  Registration  Statement  as  may be
necessary  to  keep the Registration Statement effective at all times during the
Registration  Period,  and, during such period, shall comply with the provisions
of the 1933 Act applicable to the Company with respect to the disposition of all
Registrable  Securities  of  the  Company  covered by the Registration Statement
until  such  time as all of such Registrable Securities have been disposed of in
accordance  with  the  intended methods of disposition by the sellers thereof as
set  forth  in the Registration Statement.  In the event the number of shares of
Common  Stock  included  in  a  Registration  Statement  filed  pursuant to this
Agreement  is  insufficient  to  cover  all  of  the Registrable Securities, the
Company  shall  amend  the Registration Statement and/or file a new Registration
Statement  so  as  to  cover  all  of  the  Registrable  Securities  as  soon as
practicable.  The  Company  shall  use its reasonable best efforts to cause such
amendment  and/or  new  Registration  Statement  to  become effective as soon as
practicable  following  the  filing  thereof.

               (c)     The  Company  shall  furnish  to  each  Investor  whose
Registrable  Securities  are included in the Registration Statement (i) promptly
after  the  same  is  prepared  and  publicly distributed, filed with the SEC or
received  by  the  Company,  one  copy  of  the  Registration  Statement and any
amendment  thereto,

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<PAGE>
each  preliminary  prospectus  and  final  prospectus  and  each  amendment  or
supplement  thereto,  and each substantive letter written by or on behalf of the
Company  to  the  SEC  and each item of each substantive correspondence from the
SEC,  in  each  case  relating  to  such  Registration Statement (other than any
portion of any item thereof which contains information for which the Company has
sought  confidential treatment); and (ii) such number of copies of a prospectus,
including  a preliminary prospectus, and all amendments and supplements thereto,
and  such  other  documents  as such Investor may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such Investor.

               (d)     The  Company shall use its reasonable best efforts to (i)
register  and  qualify  the  Registrable  Securities covered by the Registration
Statement  under such other securities or blue sky laws of such jurisdictions as
the  Investors  who  hold  a  majority in interest of the Registrable Securities
being  offered  reasonably request, (ii) prepare and file in those jurisdictions
such  amendments  (including  post-effective amendments) and supplements to such
registrations  as  may be necessary to maintain the effectiveness thereof during
the  Registration  Period,  (iii) take such other actions as may be necessary to
maintain such registrations and qualifications in effect at all times during the
Registration  Period,  and  (iv)  take all other actions reasonably necessary or
advisable  to qualify the Registrable Securities for sale in such jurisdictions.
Notwithstanding  the  foregoing  provision, the Company shall not be required in
connection  therewith or as a condition thereto to (i) qualify to do business in
any  jurisdiction  where  it  would not otherwise be required to qualify but for
this  section  3(d),  (ii)  subject  itself  to  general  taxation  in  any such
jurisdiction,  (iii)  file  a  general consent to service of process in any such
jurisdiction, (iv) provide any undertakings that cause more than nominal expense
or burden to the Company, or (v) make any change in its charter or bylaws, which
in  each case the Board of Directors of the Company determines to be contrary to
the  best  interests  of  the  Company  and  its  stockholders.

               (e)     The  Company  shall  notify  each  Investor  who  holds
Registrable  Securities  being  sold pursuant to a Registration Statement of the
happening  of  any event of which the Company has knowledge as a result of which
the prospectus included in the Registration Statement as then in effect includes
an  untrue  statement  of  a  material  fact  or  omits to state a material fact
required  to  be  stated therein or necessary to make the statements therein not
misleading  (a "Suspension Event").  The Company shall make such notification as
promptly  as  practicable  after  the  Company  becomes aware of such Suspension
Event, shall promptly use its reasonable best efforts to prepare a supplement or
amendment  to  the  Registration  Statement  to correct such untrue statement or
omission,  and  shall

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<PAGE>
deliver  a  copy  of  such  supplement  or  amendment  to  each  Investor.
Notwithstanding  the  foregoing  provision, the Company shall not be required to
maintain  the  effectiveness  of  the  Registration  Statement  or  to  amend or
supplement  the  Registration Statement for a period (a "Delay Period") expiring
upon  the earlier to occur of (i) the date on which such material information is
disclosed  to  the public or ceases to be material, (ii) if applicable, the date
on  which  the Company is able to comply with its disclosure obligations and SEC
requirements  related  thereto,  or  (iii)  90  days after the occurrence of the
Suspension Event; provided, however, that there shall not be more than two Delay
Periods  in  any  twelve  month  period.

               (f)     The  Company  shall  use  its  reasonable best efforts to
prevent the issuance of any stop order or other suspension of effectiveness of a
Registration Statement and, if such an order is issued, shall use its reasonable
best  efforts  to  obtain  the withdrawal of such order at the earliest possible
time  and to notify each Investor who holds Registrable Securities being sold of
the  issuance  of  such  order  and  the  resolution  thereof.

               (g)     The  Company  shall  permit  a  single  firm  of  counsel
designated  by  the Investors who hold a majority in interest of the Registrable
Securities  being  sold pursuant to such registration to review the Registration
Statement  and  all  amendments and supplements thereto (as well as all requests
for  acceleration or effectiveness thereof) a reasonable period of time prior to
their  filing  with  the SEC, and shall not file any document in a form to which
such  counsel  reasonably  objects.  Any  such counsel employed by the Investors
shall  be  done  so  at  the  Investors'  cost  and  at  no cost to the Company.

               (h)     The  Company  shall  make available for inspection by any
Investor  whose  Registrable  Securities  are  being  sold  pursuant  to  such
registration  and  any  attorney, accountant or other agent retained by any such
Investor  (collectively,  the  "Inspectors"),  all pertinent financial and other
records,  pertinent  corporate  documents  and  properties  of  the  Company
(collectively,  the  "Records"), as shall be reasonably necessary to enable each
Inspector  to exercise its due diligence responsibility, and cause the Company's
officers,  directors and employees to supply all information which any Inspector
may  reasonably  request  for purposes of such due diligence; provided, however,
that  each  Inspector shall hold in confidence and shall not make any disclosure
(except  to  an  Investor)  of  any  Record  or other information unless (i) the
disclosure  of  such  Records is necessary to avoid or correct a misstatement or
omission  in  any  Registration  Statement,  (ii) the release of such Records is
ordered pursuant to a subpoena or other order from a court or government body of
competent  jurisdiction,  or  (iii)  the  information

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<PAGE>
in  such  Records  has been made generally available to the public other than by
disclosure  in  violation of this or any other agreement.  The Company shall not
be  required  to  disclose  any  confidential information in such Records to any
Inspector  until  and  unless  such  Inspector  shall  have  entered  into
confidentiality  agreements  (in form and substance satisfactory to the Company)
with the Company with respect thereto, substantially in the form of this section
3(h).  Each Investor agrees that it shall, upon learning that disclosure of such
Records  is  sought  in  or  by  a  court  or  governmental  body  of  competent
jurisdiction or through other means, give prompt notice to the Company and allow
the  Company,  at  the  Company's  expense,  to  undertake appropriate action to
prevent  disclosure  of, or to obtain a protective order for, the Records deemed
confidential.  Nothing herein shall be deemed to limit the Investor's ability to
sell  Registrable  Securities  in  a  manner  which is otherwise consistent with
applicable  laws  and  regulations.

               (i)     The  Company  shall  take  all  other  reasonable actions
reasonably  requested  by  the  Investors  which  are  necessary to expedite and
facilitate disposition by the Investor of the Registrable Securities pursuant to
the  Registration  Statement.

          4.     Obligations  of  the  Investors.  In  connection  with  the
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registration  of  the  Registrable  Securities,  the  Investors  shall  have the
following  obligations:

               (a)     It  shall  be a condition precedent to the obligations of
the  Company  to take any action pursuant to this Agreement with respect to each
Investor  that  such  Investor  shall  furnish  in  writing  to the Company such
information  regarding  the  Investor,  the  Registrable  Securities held by the
Investor  and  the  intended method of disposition of the Registrable Securities
held  by the Investor as shall be reasonably required to effect the registration
of  the  Registrable  Securities  and shall execute such documents in connection
with  such  registration  as  the  Company  may  reasonably  request.

               (b)     Each  Investor,  by  such  Investor's  acceptance  of the
Registrable  Securities,  agrees  to  cooperate  with  the Company as reasonably
requested  by  the  Company in connection with the preparation and filing of the
Registration  Statement hereunder, unless such Investor has notified the Company
in  writing  of  such  Investor's  election  to  exclude  all of such Investor's
Registrable  Securities  from  the  Registration  Statement.

               (c)     Each  Investor  agrees  that,  upon receipt of any notice
from  the  Company  of  the  happening  of  any  event  of the kind described in

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<PAGE>
section  3(e) or 3(f), such Investor will immediately discontinue disposition of
Registrable  Securities  pursuant  to  the  Registration Statement covering such
Registrable  Securities  until  such  Investor's  receipt  of  the copies of the
supplemented  or amended prospectus contemplated by section 3(e) or 3(f) and, if
so  directed  by the Company, such Investor shall deliver to the Company (at the
expense  of the Company) or destroy (and deliver to the Company a certificate of
destruction)  all  copies  in  such  Investor's  possession,  of  the prospectus
covering  such  Registrable  Securities  current  at the time of receipt of such
notice.

          5.     Expenses  of  Registration.  All expenses, other than discounts
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and commissions attributable to the sale of any Registrable Securities, incurred
in  connection with registrations, filings or qualifications pursuant to section
2,  including,  without limitation, all registration, listing and qualifications
fees,  printers  and  accounting fees, and the fees and disbursements of counsel
for  the  Company,  shall  be  borne  by  the  Company.

          6.     Indemnification.  In  the  event any Registrable Securities are
                 ---------------
included  in  a  Registration  Statement  under  this  Agreement:

               (a)     To  the  extent  permitted  by  law,  the  Company  will
indemnify and hold harmless each Investor who holds such Registrable Securities,
the directors, if any, of such Investor, the officers, if any, of such Investor,
each  person,  if  any, who controls any Investor within the meaning of the 1933
Act,  any  underwriter  (as  defined  in  the  1933  Act) for the Investors, the
directors,  if  any,  of  such  underwriter  and  the  officers, if any, of such
underwriter,  and  each person, if any, who controls any such underwriter within
the meaning of the 1933 Act (each, an "Indemnified Person"), against any losses,
claims,  damages,  expenses  or  liabilities  (joint  or  several) (collectively
"Claims")  to  which any of them become subject under the 1933 Act or otherwise,
insofar  as  such  Claims  (or  actions  or  proceedings,  whether  commenced or
threatened,  in  respect  thereof)  arise  out  of  or are based upon any of the
following  statements, omissions or violations in the Registration Statement, or
any  post-effective  amendment thereof, or any prospectus included therein:  (i)
any untrue statement or alleged untrue statement of a material fact contained in
the  Registration  Statement  or  any  post-effective  amendment  thereof or the
omission  or  alleged  omission  to state therein a material fact required to be
stated  therein or necessary to make the statements therein not misleading, (ii)
any untrue statement or alleged untrue statement of a material fact contained in
any  preliminary  prospectus  if  used  prior  to  the  effective  date  of such
Registration  Statement,  or  contained  in  the final prospectus (as amended or
supplemented,  if  the Company files any amendment thereof or supplement thereto
with  the SEC) or the omission or alleged omission to state therein any material
fact

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necessary  to  make  the  statements made therein, in light of the circumstances
under  which  the  statements  therein  were  made, not misleading, or (iii) any
violation  or  alleged  violation  by  the  Company of the 1933 Act or any state
securities  law  or any rule or regulation (the matters in the foregoing clauses
(i)  through  (iii)  being,  collectively,  "Violations").  Subject  to  the
restrictions  set  forth  in  section  6(c)  with respect to the number of legal
counsel,  the Company shall reimburse the Investors and each such underwriter or
controlling  person,  promptly  as  such  expenses  are incurred and are due and
payable,  for  any  legal  fees or other expenses reasonably incurred by them in
connection  with  investigating  or  defending  any such Claim.  Notwithstanding
anything  to  the  contrary  contained  herein,  the  indemnification  agreement
contained  in  this section 6(a):  (A) shall not apply to a Claim arising out of
or  based  upon a Violation which occurs in reliance upon and in conformity with
information  furnished  in  writing  to the Company by any Indemnified Person or
underwriter for such Indemnified Person expressly for use in connection with the
preparation  of  the  Registration  Statement  or  any such amendment thereof or
supplement  thereto;  (B)  with  respect to any preliminary prospectus shall not
inure  to the benefit of any such person from whom the person asserting any such
Claim  purchased  the Registrable Securities that are the subject thereof (or to
the  benefit  of  any person controlling such person) if the untrue statement or
omission  of material fact contained in the preliminary prospectus was corrected
in  the  prospectus, as then amended or supplemented, if a prospectus was timely
made available by the Company pursuant to section 3(c) hereof; and (C) shall not
apply  to amounts paid in settlement of any Claim if such settlement is effected
without  the  prior  written  consent of the Company, which consent shall not be
unreasonably  withheld.  Such  indemnity  shall  remain in full force and effect
regardless  of any investigation made by or on behalf of the Indemnified Persons
and  shall  survive  the transfer of the Registrable Securities by the Investors
pursuant  to  section  8.

               (b)     In connection with any Registration Statement in which an
Investor  is  participating,  each  such  Investor  agrees to indemnify and hold
harmless,  to  the same extent and in the same manner set forth in section 6(a),
the  Company,  each  of  its  directors,  each  of  its  officers  who signs the
Registration Statement, each person, if any, who controls the Company within the
meaning  of  the  1933  Act,  any  underwriter and any other stockholder selling
securities  pursuant  to  the  Registration Statement or any of its directors or
officers  or  any person who controls such stockholder or underwriter within the
meaning  of  the 1933 Act (collectively and together with an Indemnified Person,
an  "Indemnified  Party"),  against  any  Claim  to which any of them may become
subject, under the 1933 Act or otherwise, insofar as such Claim arises out of or
is based upon any Violation, in each case to the extent (and only to the extent)
that  such  Violation  occurs  in  reliance  upon and in conformity with written
information  furnished  to  the

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Company  by such Investor expressly for use in connection with such Registration
Statement,  and  such  Investor  will promptly reimburse any legal fees or other
expenses  reasonably  incurred  by  them  in  connection  with  investigating or
defending  any  such  Claim;  provided,  however,  that  the indemnity agreement
contained  in this section 6(b) shall not apply to amounts paid in settlement of
any  Claim  if  such settlement is effected without the prior written consent of
such  Investor,  which  consent  shall  not  be  unreasonably withheld; provided
further,  however, that the Investor shall be liable under this section 6(b) for
only that amount of a Claim as does not exceed the net proceeds to such Investor
as  a result of the sale of Registrable Securities pursuant to such Registration
Statement.  Such  indemnity  shall remain in full force and effect regardless of
any  investigation  made  by  or  on  behalf of such Indemnified Party and shall
survive  the transfer of the Registrable Securities by the Investors pursuant to
section  8.

               (c)     Promptly  after  receipt  by  an  Indemnified  Person  or
Indemnified  Party  under  this  section  6 of notice of the commencement of any
action  (including  any  governmental  action),  such  Indemnified  Person  or
Indemnified Party shall, 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 this indemnifying party shall
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
control  of  the  defense  thereof  with  counsel  mutually  satisfactory to the
indemnifying  parties;  provided,  however,  that  an  Indemnified  Person  or
Indemnified  Party shall have the right to retain its own counsel, with the fees
and expenses to be paid by the indemnifying party, if, in the reasonable opinion
of  counsel  retained  by  the  indemnifying  party,  the representation by such
counsel  of  the  Indemnified  Person  or Indemnified Party and the indemnifying
party  would  be  inappropriate  due  to actual or potential differing interests
between such Indemnified Person or Indemnified Party and other party represented
by such counsel in such proceeding.  The Company shall pay for only one separate
legal  counsel  for  the  Investors; such legal counsel shall be selected by the
Investors  holding  a  majority  in interest of the Registrable Securities.  The
failure  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 liability to the Indemnified Person or Indemnified Party under this
section 6, except to the extent that the indemnifying party is prejudiced in its
ability  to  defend such action.  The indemnification required by this section 6
shall  be  made  by periodic payments of the amount thereof during the course of
the  investigation  or  defense,  as  such expense, loss, damage or liability is
incurred  and  is  due  and  payable.

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          7.     Contribution.  To  the  extent any indemnification provided for
                 ------------
herein  is  prohibited  or limited by law, the indemnifying party agrees to make
the  maximum  contribution  with  respect  to  any  amounts  for  which it would
otherwise  be  liable  under  section  6 to the fullest extent permitted by law;
provided,  however,  that  (i) no contribution shall be made under circumstances
where  the  maker would not have been liable for indemnification under the fault
standards  set  forth  in  section  6,  (ii) no seller of Registrable Securities
guilty  of  fraudulent misrepresentation (within the meaning of section 11(f) of
the  1933  Act) shall be entitled to contribution from any seller of Registrable
Securities  who  was  not guilty of such fraudulent misrepresentation, and (iii)
contribution  by any seller of Registrable Securities shall be limited in amount
to  the  net  amount  of  proceeds received by such seller from the sale of such
Registrable  Securities.

          8.     Assignment  of  Registration  Rights.  The  rights  to have the
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Company  register  Registrable  Securities  pursuant  to this Agreement shall be
automatically  assigned  by  the Investors to transferees or assignees of all or
any  portion  of such securities only if (i) the Investor agrees in writing with
the  transferee  or assignee to assign such rights, and a copy of such agreement
is furnished to the Company within a reasonable time after such assignment, (ii)
the  Company  is,  within  a  reasonable time after such transfer or assignment,
furnished  with  written  notice  of  the name and address of such transferee or
assignee  and  the securities with respect to which such registration rights are
being  transferred  or assigned, (iii) following such transfer or assignment the
further  disposition  of  such  securities  by  the  transferee  or  assignee is
restricted  under  the 1933 Act and applicable state securities laws, (iv) at or
before  the  time the Company received the written notice contemplated by clause
(ii)  of  this  sentence,  the transferee or assignee agrees in writing with the
Company to be bound by all of the provisions contained herein, (v) such transfer
shall  have  been  made  in  accordance  with the applicable requirements of the
Subscription  Agreement  between  the  Investor  and  the Company, and (vi) such
transferee shall be an "accredited investor" as that term is defined in Rule 501
of  Regulation  D  promulgated  under  the  1933  Act.

          9.     Amendment of Registration Rights.  Provisions of this Agreement
                 --------------------------------
may  be amended and the observance thereof may be waived (either generally or in
a  particular  instance and either retroactively or prospectively) only with the
written consent of the Company and Investors who hold a majority interest of the
Registrable  Securities.  Any  amendment  or  waiver effected in accordance with
this  section  9  shall  be  binding  upon  each  Investor  and  the  Company.

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          10.     Miscellaneous.
                  -------------

               (a)     Conflicting  Instructions.  A  person or entity is deemed
                       -------------------------
to  be a holder of Registrable Securities whenever such person or entity owns of
record  such  Registrable  Securities.  If  the  Company  receives  conflicting
instructions,  notices  or  elections  from two or more persons or entities with
respect to the same Registrable Securities, the Company shall act upon the basis
of  instructions,  notice or election received from the registered owner of such
Registrable  Securities.

               (b)     Notices.  Any  notices  required or permitted to be given
                       -------
under  the terms of this Agreement shall be sent by certified or registered mail
(with return receipt requested) or delivered personally or by courier (including
a  nationally  recognized  overnight  delivery  service)  or  by  facsimile
transmission.  Any  notice  so  given shall be deemed effective three days after
being  deposited in the U.S. Mail, or upon receipt if delivered personally or by
courier  or  facsimile  transmission,  in  each case addressed to a party at the
following  address  or  such  other  address as each such party furnishes to the
other  in  accordance  with  this  section  10(b):

If  to  the  Company:

          The  Female  Health  Company
          875  North  Michigan  Avenue
          Suite  3660
          Chicago,  IL  60611
          Telephone:  (312)  280-1119
          Facsimile:  (312)  280-9360
          Attention:  Mr.  O.B.  Parrish

with  a  copy  to:

          Reinhart,  Boerner,  Van  Deuren,
          Norris  &  Rieselbach,  s.c.
          1000  North  Water  Street
          Suite  2100
          Milwaukee,  WI  53202
          Telephone:  (414)  298-1000
          Facsimile:  (414)  298-8097
          Attention:  Mr.  James  M.  Bedore,  Esq.

                                       11
<PAGE>
If  to  an  Investor, to the particular Investor at the address set forth in the
Subscription  Agreement  delivered  by the Investor to the Company in connection
with  the  Guarantee.

               (c)     Waiver.  Failure  of  any  party to exercise any right or
                       ------
remedy under this Agreement or otherwise, or delay by a party in exercising such
right  or  remedy,  shall  not  operate  as  a  waiver  thereof.

               (d)     Governing  Law.  This  Agreement  shall  be  enforced,
                       --------------
governed  by and construed in accordance with the laws of the State of Wisconsin
applicable  to  the  agreements  made  and  to be performed entirely within such
state,  without  giving  effect  to  rules  governing  the  conflict  of  laws.

               (e)     Severability.  In  the  event  that any provision of this
                       ------------
Agreement  is  invalid  or unenforceable under any applicable statute or rule of
law,  then  such provision shall be deemed inoperative to the extent that it may
conflict  therewith and shall be deemed modified to conform with such statute or
rule  of  law.  Any  provision  hereof  which may prove invalid or unenforceable
under  any  law  shall  not  affect  the validity or enforceability of any other
provision  hereof.

               (f)     Entire  Agreement.  This Agreement constitutes the entire
                       -----------------
agreement  among  the  parties hereto with respect to the subject matter hereof.
There  are  no  restrictions,  promises,  warranties or undertakings, other than
those set forth or referred to herein or therein.  This Agreement supersedes all
prior agreements and understandings among the parties hereto with respect to the
subject  matter  hereof.

               (g)     Successors  and  Assigns.  Subject to the requirements of
                       ------------------------
section  8  hereof,  this Agreement shall inure to the benefit of and be binding
upon  the  successors  and  assigns  of  each  of  the  parties  hereto.

               (h)     Use of Pronouns.  All pronouns and any variations thereof
                       ---------------
refer  to  the masculine, feminine or neuter, singular or plural, as the context
may  require.

               (i)     Headings.  The  headings and subheadings in the Agreement
                       --------
are  for  convenience  of reference only and shall not limit or otherwise affect
the  meaning  hereof.

               (j)     Counterparts.  This  Agreement  may be executed in two or
                       ------------
more  counterparts,  each  of which shall be deemed an original but all of which

                                       12
<PAGE>
shall constitute one and the same agreement.  This Agreement, once executed by a
party, may be delivered to the other party hereto by facsimile transmission, and
facsimile  signatures  shall  be  binding  on  the  parties  hereto.

               (k)     Further  Acts.  Each party shall do and perform, or cause
                       -------------
to  be  done  and performed, all such further acts and things, and shall execute
and  deliver all such other agreements, certificates, instruments and documents,
as  the  other party may reasonably request in order to carry out the intent and
accomplish  the  purposes  of  this  Agreement  and  the  consummation  of  the
transactions  contemplated  hereby.

               (l)     Consents.  All  consents  and  other determinations to be
                       --------
made  by  the  Investors  pursuant  to this Agreement shall be made by Investors
holding  a majority of the Registrable Securities, determined as if all Warrants
then  outstanding  had  been  converted  into  or  exercised  for  Registrable
Securities.

    [Remainder of page intentionally left blank.  Signature pages to follow.]

                                       13
<PAGE>
     IN  WITNESS  WHEREOF,  the  parties  have  caused this Agreement to be duly
executed  as  of  the  date  first  above  written.

COMPANY:

THE  FEMALE  HEALTH  COMPANY

By:  /s/  O.B.  Parrish
     ------------------
     O.B.  Parrish,  Chairman  and  Chief
        Executive  Officer

                                       14
<PAGE>
                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT

          This page constitutes a counterpart signature page to the Registration
Rights Agreement made and entered into by and among The Female Health Company, a
Wisconsin  corporation,  and  certain  guarantors.  The undersigned party hereby
agrees  to  be  bound  by  the  terms  thereof.

INVESTOR:

Stephen  M.  Dearholt
---------------------
Name  of  Investor

/s/  Stephen  M.  Dearholt
--------------------------
Signature  of  Investor

Date:  5-15-01

<PAGE>
                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT

          This page constitutes a counterpart signature page to the Registration
Rights Agreement made and entered into by and among The Female Health Company, a
Wisconsin  corporation,  and  certain  guarantors.  The undersigned party hereby
agrees  to  be  bound  by  the  terms  thereof.

INVESTOR:

James  R.  Kerber
-----------------
Name  of  Investor

/s/  James  R.  Kerber
----------------------
Signature  of  Investor

Date:  5-15-01

<PAGE>
                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT

          This page constitutes a counterpart signature page to the Registration
Rights Agreement made and entered into by and among The Female Health Company, a
Wisconsin  corporation,  and  certain  guarantors.  The undersigned party hereby
agrees  to  be  bound  by  the  terms  thereof.

INVESTOR:

Tom  Bodine
-----------
Name  of  Investor

/s/  Tom  Bodine
----------------
Signature  of  Investor

Date:  5-14-01

<PAGE>
                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT

          This page constitutes a counterpart signature page to the Registration
Rights Agreement made and entered into by and among The Female Health Company, a
Wisconsin  corporation,  and  certain  guarantors.  The undersigned party hereby
agrees  to  be  bound  by  the  terms  thereof.

INVESTOR:

The  Geneva  O.  Parrish  1996  Living  Trust
---------------------------------------------
Name  of  Investor

By:  /s/  Geneva  O.  Parrish
     ------------------------
     Geneva  O.  Parrish,  Trustee

Date:  5-12-01

<PAGE>
                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT

          This page constitutes a counterpart signature page to the Registration
Rights Agreement made and entered into by and among The Female Health Company, a
Wisconsin  corporation,  and  certain  guarantors.  The undersigned party hereby
agrees  to  be  bound  by  the  terms  thereof.

INVESTOR:

Richard  E.  Wenninger
----------------------
Name  of  Investor

/s/  Richard  E.  Wenninger
---------------------------
Signature  of  Investor

Date:  5-23-01THE  SECURITY  REPRESENTED  BY THIS  AGREEMENT  HAS BEEN  ACQUIRED  FOR
INVESTMENT  AND  NOT  WITH A  VIEW  TO,  OR IN  CONNECTION  WITH,  THE  SALE  OR
DISTRIBUTION  THEREOF.  NO SUCH SALE OR DISTRIBUTION  MAY BE EFFECTED WITHOUT AN
EFFECTIVE  REGISTRATION  STATEMENT  RELATED  THERETO  OR AN  OPINION  OF COUNSEL
SATISFACTORY  TO THE COMPANY THAT SUCH  REGISTRATION  IS NOT REQUIRED  UNDER THE
SECURITIES ACT OF 1933.

                             STOCK OPTION AGREEMENT
                             ----------------------

         THIS STOCK OPTION AGREEMENT (this "Agreement") is made and entered into
as of _____ of April,  2001,  by and  between  eAUTOCLAIMS.COM,  INC.,  a Nevada
corporation (the "Corporation"), and _______________ ("Optionee").

                              W I T N E S S E T H:
                               -------------------

         WHEREAS,  Optionee  is a  valuable  and  trusted  key  employee  of the
Corporation,  and the  Corporation  considers it  desirable to give  Optionee an
added incentive to advance the Corporation's interests; and

         WHEREAS,  the corporation has determined to grant Optionee the right to
acquire certain stock of the Corporation pursuant to the terms and conditions of
this Agreement;

         NOW,  THEREFORE,  in  consideration  of the foregoing  recitals and the
mutual  covenants and  conditions  hereinafter  set forth and the sum of Ten and
00/100  dollars  ($10.00),  the  receipt  of which is hereby  acknowledged,  the
parties hereto agree as follows:

         1. Option;  Number of Shares;  Price. The Corporation hereby grants, to
Optionee the right acquire eight hundred eighty thousand  (880,000)  shares (the
"Shares") of the common stock of the Corporation  ("Common Stock") at a purchase
price of One Cent ($.01) per share (the "Purchase Price") ("Option"). The Option
and the right to acquire all or any portion of the Shares  shall be  immediately
exercisable  , and is  subject  to the  terms  and  conditions  stated  in  this
Agreement.  It is intended  that the Option will not qualify for treatment as an
incentive  stock option under Section 422 of the Internal  Revenue Code of 1986,
as amended (the "Code").

         2.  Term of Agreement.  This  Agreement,  and Optionee's  right to
exercise the Option in whole or in part, shall expire in ten (10) years on April
__, 2011, unless the parties mutually agree to otherwise honor this Option.

<PAGE>

         3.  Merger;  Consolidation  or Sale of  Assets;  Acceleration;  Initial
Public  Offering.  Upon  the  reorganization,  merger  or  consolidation  of the
Corporation in which the  Corporation is not the surviving  entity,  or upon the
dissolution  or  liquidation  of the  Corporation,  or upon  the  sale of all or
substantially  all the assets of the  Corporation  in a transaction or series of
related transactions (each of the foregoing is referred to herein as a "Material
Transaction"),  Optionee  shall have the right to exercise the unexpired  Option
with respect to all the Shares.  The Corporation shall give the Optionee written
notice  at least  thirty  (30)  days  prior to the  consummation  of a  Material
Transaction.  Upon receipt of such notice from the Corporation, the Optionee may
exercise  the  unexpired  Option  and  make  payment  of the  exercise  price in
accordance  with the  procedures  described  in Section 5 below by  delivering a
written  notice  to  the  Corporation  at  least  five  (5)  days  prior  to the
consummation of the Material Transaction. Unless otherwise provided by the Board
of Directors of the Corporation, if the Optionee does not exercise the Option or
only exercises the Option in part,  then upon the  consummation  of the Material
Transaction,  the  Option  (or the  portion  of the  unexercised  Option)  shall
automatically expire and be of no further force or effect.

         4. No  Rights  of  Shareholder.  Optionee  shall  have no  rights  as a
shareholder  of any Shares or Common Stock  covered by the Option until the date
an entry  evidencing  such  ownership is made in the stock transfer books of the
Corporation (the "Exercise  Date").  The Corporation will make no adjustment for
dividends  (ordinary  or  extraordinary,  whether in cash,  securities  or other
property) or distributions of other rights for which the record date is prior to
the Exercise Date.

         5.  Restrictive  Legends.  Optionee  hereby  acknowledges  that federal
securities law and the securities law of the state in which Optionee resides may
require the placement of certain restrictive legends upon the Shares issued upon
exercise of the Option,  and Optionee hereby consents to the placing of any such
legends  upon  certificates  evidencing  the Shares as the  Corporation,  or its
counsel, may deem reasonably necessary;  provided, however, that any such legend
shall be removed when no longer applicable.

         6.       Notices.  All  notices  and  other  communications  hereunder
shall be in writing and shall be deemed to have been duly given if  delivered or
mailed first class, postage prepaid:

                  If to Corporation:        eAutoclaims.com, Inc.
                                            2708 Alternate 19 North, Suite 604
                                            Palm Harbor, FL 34683

                  If to Optionee:
                                            ---------------------------

                                       2
<PAGE>

         7.       Withholding.  At the  time  the  Option  is  exercised,  in
whole or in part,  or at any time  thereafter  as requested by the Company,  the
Optionee  shall make adequate  provision  for federal and state tax  withholding
obligations of the Company,  if any, which arise upon exercise of the Option, in
whole or in part.

         8.       Certificate  Registration.  The  certificate  or  certificates
for the shares as to which the Option shall be exercised  shall be registered in
the name of the person or persons exercising the Option.

         9.  Effect  of  Change  in Stock  Subject  to the  Option.  Appropriate
adjustments  shall  be made by the  Board of  Directors  of the  Company  in the
number, exercise price and class of shares of stock subject to the Option in the
event of a stock  dividend,  stock  split,  reverse  stock  split,  combination,
reclassification or like change in the capital structure of the Company.

         10.      Binding  Effect.  This Option  Agreement  shall  inure to the
benefit of and be binding upon the parties  hereto and their  respective  heirs,
executors, administrators, successors and assigns.

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

                                                     CORPORATION:

                                                     eAUTOCLAIMS.COM, INC.,
                                                     a Nevada corporation

                                                     By:
                                                        ------------------------
                                                              Eric Seidel
                                                              President

                                                     OPTIONEE:

                                                     Print Name:
                                                                ----------------

                                       3

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