Document:

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                                                                    Exhibit 10.3

               SECOND AMENDED AND RESTATED MANUFACTURING AGREEMENT

     THIS SECOND AMENDED AND RESTATED MANUFACTURING AGREEMENT (this "Agreement")
is made and entered into this 15th day of June, 2006 by and among ADM Tronics
Unlimited, Inc., a Delaware corporation ("ADM"), Sonotron Medical Systems, Inc.,
a Delaware corporation ("SMS"), and Ivivi Technlogies, Inc., a New Jersey
corporation ("IVIVI" and together with SMS, the "Subsidiaries"), all of the
foregoing corporations with a principal place of business at 224 Pegasus Avenue,
Northvale, New Jersey 07647.

                                   WITNESSETH

     WHEREAS, ADM, SMS, IVIVI and Vet-Sonotron Systems, Inc., a Delaware
corporation ("VET"), entered into a manufacturing agreement, dated as of August
15, 2001 (the "Original Manufacturing Agreement"), pursuant to which ADM, a
Registered Medical Device Manufacturing Facility, as such term is defined
pursuant to the U.S. Food and Drug Administration ("FDA") medical device
regulations, manufactures electronic and other medical and non-medical devices
and products for the Subsidiaries;

     WHEREAS, in April 2003, the operations of VET were transferred from ADM to
IVIVI;

     WHEREAS, in February 2005, ADM and the Subsidiaries entered into an amended
and restated manufacturing agreement, dated February 10, 2005 (the "Existing
Manufacturing Agreement"), pursuant to which the parties amended and restated
the Original Manufacturing Agreement to, among other things, (i) provide each
Subsidiary with protection of its proprietary and confidential information and
(ii) provide each Subsidiary with the right to engage third-party manufacturers
to manufacture any or all of its products in the event ADM is unable to perform,
or otherwise in breach of any of, its obligations under this Agreement;

     WHEREAS, ADM and the Subsidiaries desire to amend and restate the Existing
Manufacturing Agreement to, among other things, provide that the term thereof
shall continue until March 31, 2008 and shall automatically renew for additional
one (1) year periods, subject to the terms and conditions herein contained; and

     WHEREAS, the Subsidiaries desire to have ADM continue to provide
manufacturing and regulatory services to the Subsidiaries and ADM desires to
continue to provide such services to the Subsidiaries on terms and conditions as
herein contained.

     NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration the receipt and sufficiency is hereby
acknowledged, the parties hereto agree as follows:

     1. ADM shall be the exclusive manufacturer of all current and future
medical, non-medical and veterinary electronic and other devices or products to
be sold, rented or leased by

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the Subsidiaries (referred to herein as the "Products") under the terms and
conditions herein contained.

     2. ADM will manufacture the Products for the Subsidiaries to appropriate
standards and quality commensurate with the type of product and intended use, it
being understood by the parties hereto that this will include Good Manufacturing
Practices ("GMP") and Quality Service Requirements ("QSR") consistent with FDA
regulations.

     3. ADM shall invoice each Subsidiary for any of the Products manufactured
for such Subsidiary at an amount equal to the Direct Cost (as defined herein)
plus 20%. It being understood by the parties hereto that "Direct Cost" shall be
defined and determined as the actual, invoiced cost for all Raw Materials (as
defined below), if any, that are incorporated into or consumed in the
manufacture of the Products and purchased for the Subsidiary by ADM, plus a
direct labor charge equal to the number of hours or portions of hours required
to produce the Products multiplied by the standard hourly manufacturing labor
rate of ADM. Direct Cost shall not include an allocation for overhead,
insurance, administration, rent or other expenses not directly related to the
manufacture of the Products.

     4. Each Subsidiary shall purchase and provide ADM with the raw materials,
parts, components or other physical items (collectively, the "Raw Materials")
that may be required for ADM to manufacture such Subsidiary's Products.

     5. All invoices from ADM to the Subsidiaries shall be immediately due and
payable upon completion of manufacture of the Products and shall be paid by the
Subsidiaries to ADM in U.S. funds by check, wire transfer or other means
acceptable to ADM. All invoices shall include a price per unit (such price to be
the Direct Cost plus 20%) multiplied by the number of units manufactured.

     6. Any invoice not paid within 10 days of its due date shall accrue
interest at the rate of 1% per month for any month or portion of a month during
which time such invoice remains unpaid, it being understood by the parties
hereto that time is of the essence.

     7. In accordance with FDA regulations for medical device manufacture, ADM
shall maintain Device History Records (within the meaning of the FDA
regulations) for any of the Products manufactured based upon serial numbers;
however, it will not be responsible for Device Master Records and Device Design
Files (each, within the meaning of the FDA regulations), such being the
responsibility and expense of the Subsidiaries.

     8. ADM warrants the Products against defects in material and workmanship
for a period of 90 days after the completion of manufacture. After such 90-day
period, ADM will provide repair services for the Products to the Subsidiaries at
its customary hourly repair rate plus the cost of any parts, components or items
necessary to repair the Products. The Subsidiaries shall pay any repair invoices
to ADM under the same terms as contained in Sections 5 and 6 herein.

     9. As between each of the Subsidiaries, on the one hand, and ADM, on the
other hand, each Subsidiary is the sole and exclusive owner of all inventions,
patents, patent applications, copyrights, trade secrets, know-how, proprietary
information and other intellectual

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property rights relating to the Products of such Subsidiary or any improvements
thereto (the "Product IP"), whether existing prior to or after the date hereof
and regardless of the party responsible for creating, conceiving or reducing to
practice such Product IP. To the extent any intellectual property rights that
are included in the Product IP would otherwise vest in ADM or any of its
employees or subcontractors, ADM hereby assigns to the applicable Subsidiary, on
an irrevocable, worldwide and royalty and payment free basis, all right, title
and interest in and to such intellectual property rights, and agrees to execute,
acknowledge and deliver to such Subsidiary, and to cause its employees and
subcontractors to execute, acknowledge and deliver to such Subsidiary, any
further assignments and other documents that such Subsidiary reasonably deems
necessary or desirable to perfect or further evidence such assignment. ADM
agrees to reasonably cooperate with such Subsidiary, or any person to whom such
Subsidiary may have assigned such intellectual property rights, in securing for
such Subsidiary or such assignee any patents or other intellectual property
protections which such Subsidiary or assignee may seek anywhere in the world to
obtain in connection therewith, and ADM shall, and shall cause persons employed
by or otherwise engaged by ADM, to execute, acknowledge and deliver to such
Subsidiary or such Subsidiary's assignee all instruments which such Subsidiary
shall reasonably require, give evidence and do all things which are necessary or
desirable to enable such Subsidiary or its assignee to file and prosecute
applications for, and to acquire, maintain and enforce, all such patents and
other intellectual property protections.

     10. (a) To the extent ADM, prior to or after the date hereof, has obtained
or obtains access to or knowledge of any non-public information relating to any
Product designs, specifications, components or technologies, or relating to any
other trade secrets, know-how or proprietary information included in the Product
IP (collectively, "Information"), ADM shall maintain such Information as
confidential information of the applicable Subsidiary, using no less than a
reasonable degree of care, and shall not use or disclose any such Information
other than in connection with the performance of its obligations under this
Agreement. Upon request of the applicable Subsidiary, ADM shall return to such
Subsidiary, or destroy and provide such Subsidiary with written certification of
such destruction, all documents, computer files and other materials in ADM's
possession or control, including all copies thereof, that contain or are derived
from any Information of such Subsidiary. In furtherance of, but without
limiting, the foregoing, ADM acknowledges that the confidentiality provisions of
this Agreement shall be deemed to be an agreement to keep the Information of
IVIVI in confidence as contemplated by Regulation FD promulgated by the
Securities and Exchange Commission. In addition, ADM acknowledges and agrees
that some of the Information of IVIV may be considered "material non-public
information" for purposes of the federal securities laws ("Insider Information")
and that ADM and its officers, directors, employees and representatives who
receive IVIVI's Information will abide by all applicable securities laws
relating to the handling of and acting upon such Insider Information.

          (b) Upon request of the applicable Subsidiary, ADM shall return to
such Subsidiary, or destroy and provide such Subsidiary with written
certification of such destruction, all documents, computer files and other
materials in ADM's possession or control, including all copies thereof, that
contain or are derived from any Information of such Subsidiary.

     11. Notwithstanding anything contained herein to the contrary, ADM shall
notify each Subsidiary immediately if ADM is, or expects that it will be, unable
to fulfill any of its obligations to such Subsidiary under this Agreement or is
otherwise in breach of any of its obligations to such Subsidiary under this
Agreement. In the event ADM is unable to full, or is otherwise in breach of, any
of its obligations under this Agreement, in addition to any right to terminate
this agreement pursuant to Section 13 hereof, such Subsidiary shall have the
right, without penalty or prejudice to Subsidiary's other rights hereunder, to
engage a third-party or third-parties to manufacture any or all of such
Subsidiary's Products. In such event, if a Subsidiary elects to exercise its
right to utilize a third-party or third-parties to supplement the manufacture of
its Products pursuant to this Section 11, at such Subsidiary's request, ADM
shall accept delivery of such Products from such third-party or third parties,
finalize the manufacture of such Products to the extent necessary for such
Subsidiary to comply with FDA regulations and ensure that the design, testing,
control, documentation and other quality assurance procedures with respect to
the manufacturing process of such Products have been followed.

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     12. This Agreement commenced on the date of the Original Manufacturing
Agreement and, unless earlier terminated in accordance with the terms and
conditions of this Agreement, shall continue in effect until March 31, 2008 (the
"Initial Term"). After the Initial Term, this Agreement shall automatically
renew for additional one (1) year periods (each a "Renewal Term"), unless either
Party provides three (3) months' prior written notice to the other Party prior
to the end of the Term of its desire to terminate this Agreement. The Initial
Term, together with all the Renewal Terms, shall be collectively referred to
herein as the "Term".

     13. (a) This Agreement may be terminated in accordance with the terms and
conditions set forth below:

               (i) This Agreement may be terminated with respect to either
Subsidiary (the "Breaching Subsidiary") by ADM immediately upon written notice
if the Breaching Subsidiary has breached any of its material obligations to ADM
under this Agreement; provided, that in the case of a breach capable of being
cured, ADM shall only have the right to exercise such right of termination if
such breach has continued for a period of thirty (30) days after the Breaching
Subsidiary has received written notice of such breach from ADM. If this
Agreement is terminated by ADM pursuant to this Section 13(a)(i) prior to the
end of the Term, the Breaching Subsidiary shall pay when due all invoices for
any Products finished prior to the date of such termination under the same terms
and conditions set forth in Sections 5 and 6 hereof.

               (ii) This Agreement may be terminated with respect to either
Subsidiary by such Subsidiary immediately upon written notice if ADM has
breached any of its material obligations to such Subsidiary under this
Agreement; provided, that in the case of a breach capable of being cured, such
Subsidiary shall only have the right to exercise such right of termination if
such breach has continued for a period of thirty (30) days after ADM has
received written notice of such breach from such Subsidiary. If this Agreement
is terminated with respect to either Subsidiary by such Subsidiary pursuant to
this Section 13(a)(ii) prior to the end of the Term, such Subsidiary shall pay
when due all invoices for any Products finished prior to the date of such
termination under the same terms and conditions set forth in Sections 5 and 6
hereof.

          (b) Upon the expiration or termination of this Agreement with respect
to any Subsidiary for any reason, ADM shall, at the expense of such Subsidiary,
deliver all finished Products and all unused Raw Materials for such Subsidiary
to such location as such Subsidiary shall designate; provided, that if such
Subsidiary is then in breach of its material obligations to ADM under this
Agreement, ADM's obligations to such Subsidiary under this Section 13(b) shall
be subject to receipt by ADM of appropriate assurances that all amounts owed to
it under this Agreement, including expenses to be incurred pursuant to this
Section 13(b), will be paid when due.

          (c) Termination or expiration of this Agreement with respect to any
Subsidiary shall not affect the rights and obligations of any party hereto that
may have accrued prior to the date of termination or expiration, or any
obligation contained in Sections 5 through 10 and Sections 13 through 16 or any
other provision of this Agreement which is similarly intended to or capable of
continuing to apply after such termination either in respect of pre-termination
matters or otherwise.

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     14. The Subsidiaries confirm that this Agreement does not infer any other
relationship between ADM and the Subsidiaries and does not obligate ADM to be
responsible for any debts or other liabilities of the Subsidiaries. The
Subsidiaries are separate entities and each is responsible for any liabilities
that may be created.

     15. This Agreement shall be construed and enforced in accordance with the
laws of the State of New Jersey and shall not be modified or terminated except
by a written instrument executed by the parties hereto.

     16. This Agreement supercedes any previous agreements, whether written or
oral, between and/or among the parties hereto, and, in particular, the previous
agreement regarding the provision of manufacturing services from ADM to certain
of the Subsidiaries.

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          IN WITNESS WHEREOF, the parties to this Agreement have caused this
Agreement to be signed as of the date first above written.

                                             ADM TRONICS UNLIMITED, INC.

                                             By: /s/ Andre' Dimino
                                                 -------------------------------
                                                 Name: Andre' Dimino
                                                 Title: President and Chief
                                                        Executive Officer

                                             IVIVI TECHNOLOGIES, INC.

                                             By: /s/ David Saloff
                                                 -------------------------------
                                                 Name: David Saloff
                                                 Title: President and Chief
                                                        Executive Officer

                                             SONOTRON MEDICAL SYSTEMS, INC.

                                             By: /s/ Andre' DiMino
                                                 -------------------------------
                                                 Name: Andre' DiMino
                                                 Title: President

                                        6<PAGE>

                                                                    Exhibit 10.5

                           NEGOTIABLE PROMISSORY NOTE

$250,000.00                                                        June 16, 2006
Plus Interest

          FOR VALUE RECEIVED, IVIVI TECHNOLOGIES, INC., a New Jersey corporation
(the "Maker"), hereby unconditionally promises to pay to AJAX CAPITAL LLC, a New
York limited liability company ("Ajax"), at 44 Laight Street, Suite 1A, New
York, New York 10013 or such other place as Ajax (Ajax and each subsequent
holder hereof is hereinafter referred to as a "Holder") or a Holder may from
time to time designate in writing, the sum of Two Hundred Fifty Thousand Dollars
($250,000.00) in lawful money of the United States of America, together with
interest thereon at a rate set forth in Section 1 below commencing on the date
of this Promissory Note (the "Note") and payable together with the outstanding
principal amount in accordance with the provisions of this Note.

     1. INTEREST. (a) Interest on the unpaid principal balance hereof shall
accrue at a rate equal to eight percent (8%) per annum until all obligations
hereunder shall have been paid and satisfied in full and shall be payable
together with the principal amount then outstanding on the Maturity Date (as
defined below). The interest payment for the period between the date hereof and
the Maturity Date shall be pro rated based upon the actual number of days
elapsed, assuming a 365 day year.

               (b) In the event the principal balance hereof and all accrued
interest is not paid in full at or prior to the Maturity Date, the Holder is
entitled to receive interest on such amount at the annual cumulative rate for
each period set forth in the chart below until the principal balance and all
accrued interest is paid in full:

RATE   PERIOD
----   ------
9%     Maturity Date to first anniversary thereof
10%    First anniversary of the Maturity Date to second anniversary thereof
11%    Second anniversary of the Maturity Date to third anniversary thereof
12%    Third anniversary of the Maturity Date to fourth anniversary thereof
13%    Fourth anniversary of the Maturity Date to fifth anniversary thereof

The foregoing shall not in any way impact, limit or impair Holder's rights and
remedies in connection with the enforcement of this Note.

     2. MATURITY. The principal amount outstanding, together with all accrued
and unpaid interest, shall be due and payable in one payment on the earlier of
(i) December 31, 2006, (ii) the consummation of an offering of the Maker's
securities, whether in a private or public

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offering, in which the Maker raises gross proceeds of at least $5,000,000 and
(iii) receipt by the Maker from a strategic partner of a lump sum cash or cash
equivalent payment of at least $5,000,000 (the "Maturity Date").

     3. PLACE AND MANNER OF PAYMENT. All payments of principal and interest
hereunder shall be made by the Maker to the Holder at its office at 44 Laight
Street, Suite 1A, New York, New York 10013 or such other address as the Holder
shall designate in writing to the Maker and shall be made, at the Maker's
option, either in cash, by certified, or cashier's check made payable to the
Holder.

     4. OPTIONAL PREPAYMENT. Subject to the limitations of Section 12, the Maker
may prepay the principal amount outstanding hereunder, together with all accrued
and unpaid interest, in whole, at any time without premium or penalty. All
payments made hereunder, including prepayments, shall first be applied to
accrued and unpaid interest, and the balance, if any, towards reduction of the
principal amount owed hereunder.

     5. EVENTS OF DEFAULT. For purposes of this Note, an "Event of Default"
means (i) the failure by the Maker to pay all or any part of the principal or
interest hereunder on or before the Maturity Date; (ii) the adjudication of the
Maker as insolvent; (iii) the making by the Maker of an assignment for the
benefit of creditors; (iv) the Maker admits its inability to pay its debts as
they become due or dissolves; (v) if an involuntary case or other proceeding
shall be commenced against the Maker seeking liquidation, reorganization, or
other relief with respect to it or its debts under any bankruptcy law now or
seeking the appointment of a trustee, receiver, liquidator, custodian, or
similar official of it or any part of its property, and such involuntary case or
other proceeding remains undismissed and unstayed for a period of forty-five
(45) days; (vi) the Maker shall file a petition in bankruptcy under the
Bankruptcy Code, as now or hereafter in effect; or (vii) the Maker defaults in
the payment when due of any indebtedness incurred, assumed or guaranteed by
Maker, beyond the grace or cure period, if any, provided in the instrument or
agreement under which such indebtedness was created; or the Maker defaults in
the performance of any material obligation, which default cannot be cured or, if
curable, has not been cured within the applicable grace or cure period, if any,
under any agreement or instrument for borrowed money relating to indebtedness of
the Maker, other than this Note, which, assuming that any required notice had
been given or lapse of time had occurred, would give the holder thereof or any
other person or entity the right to declare the entire amount of such obligation
due and payable; or at any time while Ajax or another Affiliate (as defined
below) of Steven M. Gluckstern is the Holder, the Maker defaults in the
performance of any material obligation under any agreement between the Holder or
Mr. Gluckstern, on the one hand, and the Maker, on the other hand, which default
cannot be cured or, if curable, has not been cured within the applicable grace
or cure period, if any, under the agreement or instrument under which such
obligation was created. Upon the occurrence of any Event of Default, the entire
principal sum outstanding, together with all accrued and unpaid interest and any
and all other obligations owing under this Note shall immediately become due and
payable. For purposes hereof, the term "Affiliate" with respect to any Person
(defined below), means any other Person who directly or indirectly, through one
or more intermediaries, controls, is controlled by, or is under common control
with, such Person. The term "control" means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities, by
contract or otherwise, and the terms "controlled" and "controlling" have
meanings correlative thereto. The term "Person" means individual, partnership,
corporation, limited liability company, joint stock company, unincorporated
organization or association, trust or joint venture, or governmental authority.

     6. FEES AND EXPENSES. Upon the occurrence of an Event of Default, the Maker
shall pay all reasonable costs that the Holder incurs in enforcing this Note,
including without limitation reasonable attorneys fees and expenses.

     7. WAIVER OF PRESENTMENT. To the extent not prohibited by applicable law or
regulation, the Maker hereby waives (i) presentment, demand for payment,
diligence, notice of dishonor and all other notices or demands in connection
with the delivery, acceptance, performance, default or indorsement of this Note,
and (ii) all rights of set-off, defenses, deduction or counterclaim with respect
to any amounts owing hereunder. No delay or omission on the part of either party
in exercising its rights hereunder shall operate as a waiver of such right or
any other right. A waiver on one occasion shall not be construed as a bar to, or
waiver of, that right or any other right or remedy on a future occasion.

     8. AMENDMENTS AND ASSIGNEMENT. This Note can be amended only by an
instrument signed by the Holder and the Maker. This Note is a negotiable
instrument and may

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be assigned freely by the HOLDER without the consent of the Maker; provided,
however, that the Holder shall give written notice of the assignment of this
Note at least 10 business days prior to the next payment date.

     9. GOVERNING LAW; CONSENT TO JURISDICTION. This Note, and all matters
arising directly or indirectly herefrom (collectively "Note Matters"), shall be
governed by and construed in accordance with the internal laws of the State of
New Jersey applicable to agreements made and to be performed entirely in such
state, without giving effect to the conflict of law principles thereof. The
Maker and, by accepting this Note, the Holder hereby (a) irrevocably consent and
submit to the sole exclusive jurisdiction of the United States District Court of
New Jersey or the Superior Court of the State of New Jersey (and of the
appropriate appellate courts therefrom) in connection with any suit, action or
other proceeding directly or indirectly arising out of or relating to any Note
Matter, (b) irrevocably waive, to the fullest extent permitted by law, any
objection that either may now or hereafter have to the laying of the venue of
any such suit, action or proceeding in any such court or that any such suit,
action or proceeding which is brought in any such court has been brought in an
inconvenient forum and (c) agrees that service of any summons, complaint, notice
or other process relating to such suit, action or other proceeding may be
effected in the manner provided by Section 10.

     10. NOTICES. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given if personally delivered or mailed by registered or certified mail, postage
prepaid, or delivered by facsimile transmission, to the Company at the address
or facsimile number set forth herein or to the Holder at its address or
facsimile number set forth in the records of the Company. Any party hereto may
by notice so given change its address for future notice hereunder. Notice shall
conclusively be deemed to have been given when personally delivered or when
deposited in the mail in the manner set forth above and shall be deemed to have
been received when delivered or, if notice is given by facsimile transmission,
when delivered with confirmation of receipt.

     11. JURY WAIVER. THE HOLDER AND THE MAKER EACH WAIVES ANY RIGHT TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF THIS NOTE OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREIN.

     12. SUBORDINATION. THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS SUBORDINATED
AND JUNIOR IN RIGHT OF PAYMENT TO THE PRIOR PAYMENT IN FULL OF ALL INDEBTEDNESS
AND OBLIGATIONS UNDER (I) THE JOINT UNSECURED CONVERTIBLE PROMISSORY NOTES
ISSUED IN AN AGGREGATE PRINCIPAL AMOUNT OF $6,087,500 BY ADM TRONICS UNLIMITED,
INC. AND THE MAKER IN A PRIVATE PLACEMENT THAT WAS COMPLETED DURING THE PERIOD
FROM AUGUST 2004 THROUGH FEBRUARY 2005 AND (II) THE UNSECURED CONVERTIBLE
PROMISSORY NOTES ISSUED IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,000,000 BY THE
MAKER IN A PRIVATE PLACEMENT THAT WAS COMPLETED DURING THE PERIOD FROM NOVEMBER
2005 THROUGH MARCH 2006 (COLLECTIVELY, THE "SENIOR OBLIGATIONS"). NO AMOUNT
SHALL BE PAID OR PREPAID BY THE MAKER, WHETHER IN CASH OR PROPERTY, IN RESPECT
OF THE PRINCIPAL OR INTEREST OF THIS NOTE AT THE TIME OUTSTANDING, UNLESS AND
UNTIL THE FULL AMOUNT OF ALL SENIOR OBLIGATIONS THEN OUTSTANDING SHALL BE PAID
IN FULL. THIS NOTE MAY NOT BE ENFORCED BY THE HOLDER OR ANY SUBSEQUENT HOLDER
WHILE THE SENIOR

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OBLIGATIONS ARE OUTSTANDING, NOR SHALL THE HOLDER OR ANY SUBSEQUENT HOLDER
HEREOF BE ENTITLED TO USE THIS NOTE, AND THE INDEBTEDNESS EVIDENCED HEREBY, BY
WAY OF COUNTERCLAIM, SETOFF, RECOUPMENT OR OTHERWISE SO AS TO DIMINISH,
DISCHARGE OR OTHERWISE SATISFY IN WHOLE OR IN PART ANY INDEBTEDNESS OR LIABILITY
OF THE HOLDER OR OTHER HOLDER HEREOF TO THE MAKER, WHETHER NOW EXISTING OR
HEREAFTER ARISING AND HOWSOEVER EVIDENCED.

          IN THE EVENT OF (I) ANY DISTRIBUTION, DIVIDEND, OR APPLICATION,
PARTIAL OR COMPLETE, VOLUNTARY OR INVOLUNTARY, BY OPERATION OR LAW OR OTHERWISE,
OF ALL OR ANY PART OF THE ASSETS OF THE MAKER OR OF THE PROCEEDS THEREOF TO THE
CREDITORS OF THE MAKER OR UPON ANY INDEBTEDNESS OR OBLIGATIONS OF THE MAKER,
OCCURRING BY REASON OF THE LIQUIDATION, DISSOLUTION, OR OTHER WINDING UP OF THE
MAKER, OR BY REASON OF ANY EXECUTION SALE, OR BANKRUPTCY, RECEIVERSHIP,
REORGANIZATION, ARRANGEMENT, INSOLVENCY, LIQUIDATION OR FORECLOSURE PROCEEDING
OF OR FOR THE MAKER OR INVOLVING ITS PROPERTY, NO SUCH DIVIDEND, DISTRIBUTION OR
APPLICATION SHALL BE MADE, AND THE HOLDER OR OTHER HOLDER HEREOF SHALL NOT BE
ENTITLED TO RECEIVE OR RETAIN ANY SUCH DIVIDEND, DISTRIBUTION OR APPLICATION, ON
OR IN RESPECT OF PRINCIPAL OF OR INTEREST ON THIS NOTE OR THE INDEBTEDNESS
EVIDENCED HEREBY, UNLESS AND UNTIL ALL PRINCIPAL OF AND INTEREST ON SENIOR
OBLIGATIONS THEN OUTSTANDING SHALL HAVE BEEN PAID AND SATISFIED IN FULL, AND IN
ANY SUCH EVENT ANY SUCH DIVIDEND, DISTRIBUTION OR APPLICATION OTHERWISE PAYABLE
IN RESPECT OF THIS NOTE OR THE INDEBTEDNESS EVIDENCED HEREBY SHALL BE PAID AND
APPLIED ON SENIOR OBLIGATIONS UNTIL SUCH SENIOR OBLIGATIONS HAVE BEEN FULLY PAID
AND SATISFIED.

          NEITHER THE MAKER NOR THE HOLDERS OF THE SENIOR OBLIGATIONS NEED, AT
ANY TIME, GIVE THE HOLDER OR OTHER HOLDER HEREOF NOTICE OF ANY KIND OF THE
CREATION OR EXISTENCE OF ANY SENIOR OBLIGATIONS, NOR OF THE AMOUNT OR TERMS
THEREOF, ALL SUCH NOTICE BEING HEREBY EXPRESSLY WAIVED. ALSO, THE HOLDERS OF
SENIOR OBLIGATIONS MAY, AT ANY TIME FROM TIME TO TIME, WITHOUT CONSENT OF OR
NOTICE TO THE HOLDER OR OTHER HOLDER HEREOF, WITHOUT INCURRING RESPONSIBILITY TO
THE PAYEE OR HOLDER HEREOF (I) RENEW, REFUND OR EXTEND THE MATURITY OF ANY
SENIOR OBLIGATIONS, OR ANY PART THEREOF, OR OTHERWISE REVISE, AMEND OR ALTER THE
TERMS AND CONDITIONS THEREOF, (II) SELL, EXCHANGE, RELEASE OR OTHERWISE DEAL
WITH ANY PROPERTY BY WHOMSOEVER AT ANY TIME PLEDGED, MORTGAGED OR OTHERWISE
HYPOTHECATED OR SUBJECTED TO A LIEN TO SECURE ANY SENIOR OBLIGATIONS AND (III)
EXERCISE OR REFRAIN FROM EXERCISING ANY RIGHTS AGAINST THE MAKER.

                  [Remainder of Page Intentionally Left Blank]

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<PAGE>

     IN WITNESS WHEREOF, the Maker has caused this Note to be executed and
delivered by its duly authorized officer as of the day and year and at the place
set forth above.

                                        IVIVI TECHNOLOGIES, INC.

ATTEST:

--------------------------------        By: /s/ David Saloff
Print Name:                                 ------------------------------------
                                            Print Name: David Saloff
                                            Print Title: President

STATE OF NEW JERSEY   }

COUNTY OF BERGEN      } SS.:

     On the 16th day of June, 2006 before me personally came , to me known, who,
being by me duly sworn, did depose and say that he has offices at Northvale, NJ,
that he is the President of Ivivi Technologies, Inc., the corporation described
in and which executed the foregoing instrument, and that he signed his name
thereto by order of the board of directors of said corporation.

                                        /s/ Jenny DiMino
                                        -----------------------------
                                        Notary Public

                                        5

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