Document:

Exhibit
        10.60

       

      THIS
        NOTE
        HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”),
        NOR HAS IT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY
        STATE.
        NO TRANSFER OF THIS NOTE WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT
        UNDER
        THE ACT IS IN EFFECT AND AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE
        WITH RULE 144 UNDER THE ACT OR AS OTHERWISE PERMITTED BY BORROWER, OR IN
        THE
        OPINION OF COUNSEL SATISFACTORY TO BORROWER REGISTRATION UNDER THE ACT IS
        UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH
        APPLICABLE STATE SECURITIES LAWS.

      

      Itrex
        International Corporation 

      

      CONVERTIBLE
        PROMISSORY NOTE

      

      
        	
                Principal
                  Amount:

              	
                Los
                  Angeles, CA

              
	
                $30,000.00

              	
                September
                  27, 2006

              

      

      

      FOR
        VALUE
        RECEIVED, the undersigned, Itrex International Corporation. ("Borrower"),
        a
        Delaware corporation and wholly-owned subsidiary of ORBIT BRANDS CORPORATION
        (“ORBIT”) a Delaware C corporation and NASDAQ Pink Sheets listed public company,
        promises to pay to the order of Todd Silverstein (“Lender”), in lawful money of
        the United States of America or common stock, the principal sum of Thirty
        Thousand and No/100 Dollars ($30,000.00), together with interest thereon
        from
        the date hereof until this Note is paid in full. 

       

      
        	
              	1.	
                Repayment
                  of the Principal Sum.
                  The
                  Principal Sum shall be due and payable in one (1) installment of
                  Thirty
                  Thousand and No/100 Dollars ($30,000.00) 365 days from the date
                  of
                  execution and delivery of this Note (the “Maturity
                  Date”).
                  

              

      

       

      
        	
              	2.	
                Interest:
                  Interest shall accrue on the Principal Sum commencing on the date
                  set
                  forth above (the “Interest Accrual Date”) until the Maturity Date at the
                  rate of five percent (5%) per annum. Unless this Note is converted
                  pursuant to the terms set forth below, accrued and unpaid interest
                  shall
                  be payable, together with the unpaid Principal Sum, on the Maturity
                  Date.
                  If the Maturity Date should fall on a weekend or national holiday,
                  payment
                  shall be due on the following business day. Interest on this Note
                  shall be
                  computed on the basis of the actual number of days elapsed during
                  which
                  the unpaid Principal Sum is outstanding, divided by a year of three
                  hundred sixty-five (365) days. All payments under this Note shall
                  be
                  applied first to accrued and unpaid interest, with the remainder
                  applied
                  to the unpaid Principal Sum.

              

      

       

      	(a)  	
              Increased
                Interest Rate After Maturity Date:
                If, by the Maturity Date: (i) this Note has not been converted in
                accordance with its terms; or (ii) the Borrower does not repay the
                Principal Sum and any accrued interest thereon, then the interest
                rate
                attributable to the Principal Sum shall increase to eight percent
                (8 %)
                per annum.

            

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      	(b)  	
              Conversion:
                Lender agrees that all principal and interest represented by this
                Note
                shall, at the sole option of Borrower’s parent, ORBIT, convert into fully
                paid and non-assessable shares of the common stock of ORBIT BRANDS
                CORPORATION (“ORBIT”) at the price (the “Conversion Price”) of $.0002 per
                share, at any time before the Maturity Date of this Note, or thereafter,
                without any action on the part of Lender. ORBIT shall notify Lender
                upon
                the conversion of the Note into shares of the Company’s common stock at a
                basis of $.0002 per share. The Company shall register the converted
                shares
                on a best efforts basis.

            

       

      
        	
              	3.	
                Registration
                  of Converted Shares:
                  Any shares of ORBIT issued to Lender in accordance with the conversion
                  right set forth herein (the “Converted Shares”) shall, following the
                  conversion, be registered by ORBIT in Lender’s name. Lender shall have
                  “Piggyback” rights to have such shares included in any registration
                  statement filed by ORBIT, other than a registration statement on
                  Forms
                  S-4, SB2, 1145 or S-8. All expenses of such registration shall
                  be borne by
                  ORBIT. 

              

      

       

      
        	
              	4.	
                Representations
                  and Warranties of Borrower:
                  Borrower represents and warrants
                  that:

              

      

      

      	(a)  	
              Borrower
                is a corporation duly organized and existing under the laws of the
                State
                of Delaware. It has the power to own its property and to carry on
                its
                business as it is now being conducted.

            

      

      	(b)  	
              Borrower
                has full power and authority to borrow the sums provided for in this
                Note,
                to execute and deliver this Note, and to perform and observe the
                terms and
                provisions of this Note;

            

      

      	(c)  	
              The
                officers of Borrower executing this Note are duly and properly in
                office
                and fully authorized to execute it; and

            

      

      	(d)  	
              This
                Note has been duly authorized, executed, and delivered by Borrower,
                and is
                a legal, valid, and binding agreement of Borrower, enforceable against
                it
                in accordance with its terms.

            

      

      
        	
              	5.	
                Events
                  of Default:
                  The occurrence of any of the following events (“Events of Default”) shall,
                  at the option of the Lender, make all interest and principal remaining
                  due
                  under this Note immediately due and
                  payable:

              

      

      

      	(a)  	
              If
                Borrower shall fail to pay, within ninety (90) days after the date
                when
                due, any installment of interest or principal in accordance with
                the terms
                of this Note; or

            

      

      	(b)  	
              If
                any representation or warranty by Borrower in this Note shall prove
                to
                have been false or misleading in any material respect when
                made.

            

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	
              	6.	
                Notices:
                  Any communications between the parties or notices provided for
                  in this
                  Note may be given by mailing them, first class, postage prepaid,
                  as
                  follows:

              

      

      

      If
        to
        Lender: Mr. Todd Silverstein

      Social
        Security No.: 

      Address:
        

      Telephone
        No.:

      Email
        address:

      

      and
        if to
        Borrower:

      

      Attention:
        Joseph R. Cellura, Chairman and Chief Executive Officer

      
        
          	
                  ITREX
                    International Corporation 

                	
                  ORBIT
                    BRANDS CORPORATION

                
	
                  P.O.
                    Box 944

                	
                  13701
                    Riverside Drive, Suite 701

                
	
                  Malibu,
                    CA 90265

                	
                  Sherman
                    Oaks, CA. 91423

                

        

      

      

      or
        to
        such other address as either party may indicate to the other in writing after
        the date of this Note.

      

      
        	
              	7.	
                Assignment:
                  This Note shall be binding upon and inure to the benefit of the
                  parties
                  hereto and their respective successors and assigns; provided, however,
                  that Borrower shall not assign this Note or any of the rights,
                  duties, or
                  obligations of Borrower under this Note without the prior written
                  consent
                  of Lender.

              

      

      

      
        	
              	8.	
                No
                  Waiver:
                  No delay or omission to exercise any right, power, or remedy accruing
                  to
                  Lender upon any breach or default of Borrower under this Note shall
                  impair
                  any such future right, power, or remedy of Lender, nor shall it
                  be
                  construed to be a waiver of any prior or subsequent breach or default.
                  All
                  remedies, either under this Note or by law or otherwise afforded
                  to
                  Lender, shall be cumulative and not
                  alternative.

              

      

      

      
        	
              	9.	
                Attorney’s
                  Fees:
                  In the event of any legal action or suit in relation to this Note,
                  or in
                  the event that Lender incurs any legal expense in protecting its
                  rights
                  under this Note, Borrower, in addition to all other sums which
                  Borrower
                  may be called upon to pay, shall pay the amount of such legal expense,
                  and
                  shall, if Lender prevails in such action, pay its reasonable attorney's
                  fees and all other costs and
                  expenses.

              

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	
              	10.	
                Governing
                  Law:
                  This
                  Note shall be interpreted under, construed in accordance with,
                  and
                  governed by, the laws of the State of California, without giving
                  effect to
                  the conflicts of law principles
                  thereof.

              

      

       

      
        	 	 	 
	 	
                ITREX
                  International Corporation 
                  A
                    Delaware Corporation

                

              
	 
 	 
 	 
 
	
              	By  	
              
	 	
                
Chairman
                and Chief Executive Officer
	 	
              

        	 	 	 
	 	
                ORBIT
                  BRANDS CORPORATION 
                  A
                    Delaware Corporation

                

              
	 
 	 
 	 
 
	
              	By  	 
	 	
                

                Chairman
                  and Chief Executive Officer

              
	 	
              

      

       

      
        
          
          

        

        
          4Exhibit
      10.61

     

    THIS
      NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”),
      NOR HAS IT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE.
      NO TRANSFER OF THIS NOTE WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT
      UNDER
      THE ACT IS IN EFFECT AND AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE
      WITH RULE 144 UNDER THE ACT OR AS OTHERWISE PERMITTED BY BORROWER, OR IN THE
      OPINION OF COUNSEL SATISFACTORY TO BORROWER REGISTRATION UNDER THE ACT IS
      UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH
      APPLICABLE STATE SECURITIES LAWS.

    

    Itrex
      International Corporation 

    

    CONVERTIBLE
      PROMISSORY NOTE

     

    
      	Principal Amount:	
              Los
                Angeles, CA

            
	$10,000.00	
              October
                4,
                2006

            

    

       

    FOR
      VALUE
      RECEIVED, the undersigned, Itrex International Corporation. ("Borrower"), a
      Delaware corporation and wholly-owned subsidiary of ORBIT BRANDS CORPORATION
      (“ORBIT”) a Delaware C corporation and NASDAQ Pink Sheets listed public company,
      promises to pay to the order of Todd Silverstein (“Lender”), in lawful money of
      the United States of America or common stock, the principal sum of Ten Thousand
      and No/100 Dollars ($10,000.00), together with interest thereon from the date
      hereof until this Note is paid in full. 

    
       

      
        
          	
                	1.	
                  Repayment
                    of the Principal Sum.
                    The
                    Principal Sum shall be due and payable in one (1) installment
                    of Thirty
                    Thousand and No/100 Dollars ($10,000.00) 365 days from the date
                    of
                    execution and delivery of this Note (the “Maturity
                    Date”).
                    

                

        

         

        
          	
                	2.	
                  Interest:
                    Interest shall accrue on the Principal Sum commencing on the
                    date set
                    forth above (the “Interest Accrual Date”) until the Maturity Date at the
                    rate of five percent (5%) per annum. Unless this Note is converted
                    pursuant to the terms set forth below, accrued and unpaid interest
                    shall
                    be payable, together with the unpaid Principal Sum, on the Maturity
                    Date.
                    If the Maturity Date should fall on a weekend or national holiday,
                    payment
                    shall be due on the following business day. Interest on this
                    Note shall be
                    computed on the basis of the actual number of days elapsed during
                    which
                    the unpaid Principal Sum is outstanding, divided by a year of
                    three
                    hundred sixty-five (365) days. All payments under this Note shall
                    be
                    applied first to accrued and unpaid interest, with the remainder
                    applied
                    to the unpaid Principal
                    Sum.

                

        

      

       

    

    
      	(a)  	
              Increased
                Interest Rate After Maturity Date:
                If, by the Maturity Date: (i) this Note has not been converted in
                accordance with its terms; or (ii) the Borrower does not repay the
                Principal Sum and any accrued interest thereon, then the interest
                rate
                attributable to the Principal Sum shall increase to eight percent
                (8 %)
                per annum.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    
      	(b)  	
              Conversion:
                Lender agrees that all principal and interest represented by this
                Note
                shall, at the sole option of Borrower’s parent, ORBIT, convert into fully
                paid and non-assessable shares of the common stock of ORBIT BRANDS
                CORPORATION (“ORBIT”) at the price (the “Conversion Price”) of $.0002 per
                share, at any time before the Maturity Date of this Note, or thereafter,
                without any action on the part of Lender. ORBIT shall notify Lender
                upon
                the conversion of the Note into shares of the Company’s common stock at a
                basis of $.0002 per share. The Company shall register the converted
                shares
                on a best efforts basis.

            

    

     

    
      	3.  	
              Registration
                of Converted Shares:
                Any shares of ORBIT issued to Lender in accordance with the conversion
                right set forth herein (the “Converted Shares”) shall, following the
                conversion, be registered by ORBIT in Lender’s name. Lender shall have
                “Piggyback” rights to have such shares included in any registration
                statement filed by ORBIT, other than a registration statement on
                Forms
                S-4, SB2, 1145 or S-8. All expenses of such registration shall be
                borne by
                ORBIT. 

            

    

     

    
      	4.  	
              Representations
                and Warranties of Borrower:
                Borrower represents and warrants
                that:

            

    

    

    
      	(a)  	
              Borrower
                is a corporation duly organized and existing under the laws of the
                State
                of Delaware. It has the power to own its property and to carry on
                its
                business as it is now being
                conducted.

            

    

    

    
      	(b)  	
              Borrower
                has full power and authority to borrow the sums provided for in this
                Note,
                to execute and deliver this Note, and to perform and observe the
                terms and
                provisions of this Note;

            

    

    

    
      	(c)  	
              The
                officers of Borrower executing this Note are duly and properly in
                office
                and fully authorized to execute it;
                and

            

    

    

    
      	(d)  	
              This
                Note has been duly authorized, executed, and delivered by Borrower,
                and is
                a legal, valid, and binding agreement of Borrower, enforceable against
                it
                in accordance with its terms.

            

    

    

    
      	5.  	
              Events
                of Default:
                The occurrence of any of the following events (“Events of Default”) shall,
                at the option of the Lender, make all interest and principal remaining
                due
                under this Note immediately due and
                payable:

            

    

    

    
      	(a)  	
              If
                Borrower shall fail to pay, within ninety (90) days after the date
                when
                due, any installment of interest or principal in accordance with
                the terms
                of this Note; or

            

    

    

    
      	(b)  	
              If
                any representation or warranty by Borrower in this Note shall prove
                to
                have been false or misleading in any material respect when
                made.

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    
      	6.  	
              Notices:
                Any communications between the parties or notices provided for in
                this
                Note may be given by mailing them, first class, postage prepaid,
                as
                follows:

            

    

    

    If
      to
      Lender: Mr. Todd Silverstein  

    Social
      Security No.: 

    Address:
      

    Telephone
      No.:

    Email
      address:

    

    and
      if to
      Borrower:

    

    Attention:
      Joseph R. Cellura, Chairman and Chief Executive Officer

    

      
        	
                ITREX
                  International Corporation 

              	
                ORBIT
                  BRANDS CORPORATION

              
	
                P.O.
                  Box 944

              	
                13701
                  Riverside Drive, Suite 701

              
	
                Malibu,
                  CA 90265

              	
                Sherman
                  Oaks, CA. 91423

              

      

    

     

    or
      to
      such other address as either party may indicate to the other in writing after
      the date of this Note.

    

    
      	7.  	
              Assignment:
                This Note shall be binding upon and inure to the benefit of the parties
                hereto and their respective successors and assigns; provided, however,
                that Borrower shall not assign this Note or any of the rights, duties,
                or
                obligations of Borrower under this Note without the prior written
                consent
                of Lender.

            

    

    

    
      	8.  	
              No
                Waiver:
                No delay or omission to exercise any right, power, or remedy accruing
                to
                Lender upon any breach or default of Borrower under this Note shall
                impair
                any such future right, power, or remedy of Lender, nor shall it be
                construed to be a waiver of any prior or subsequent breach or default.
                All
                remedies, either under this Note or by law or otherwise afforded
                to
                Lender, shall be cumulative and not
                alternative.

            

    

    

    
      	9.  	
              Attorney’s
                Fees:
                In the event of any legal action or suit in relation to this Note,
                or in
                the event that Lender incurs any legal expense in protecting its
                rights
                under this Note, Borrower, in addition to all other sums which Borrower
                may be called upon to pay, shall pay the amount of such legal expense,
                and
                shall, if Lender prevails in such action, pay its reasonable attorney's
                fees and all other costs and
                expenses.

            

    

    

    
      	10.  	
              Governing
                Law:
                This
                Note shall be interpreted under, construed in accordance with, and
                governed by, the laws of the State of California, without giving
                effect to
                the conflicts of law principles
                thereof.

            

    

     

    
      	 	 	 
	 	
              ITREX
                International Corporation

              A
                Delaware Corporation

            
	 
 	 
 	 
 
	 	By  	 
	 	
              
Chairman
              and Chief Executive
              Officer

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	 	 	 
	 	
              ORBIT
                BRANDS CORPORATION 

              A
                Delaware Corporation

            
	 
 	 
 	 
 
	 	By  	 
	 	
              
Chairman
              and Chief Executive
              Officer

    

    
       

      
        
          
          

        

        
          4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]