Common use of SECURED CONVERTIBLE MINIMUM BORROWING NOTE Clause in Contracts

SECURED CONVERTIBLE MINIMUM BORROWING NOTE. FOR VALUE RECEIVED, each of IWT TESORO CORPORATION, a Nevada corporation (the “Parent”), and the other companies listed on Exhibit A attached hereto (such other companies together with the Parent, each a “Company” and collectively, the “Companies”), jointly and severally, promises to pay to LAURUS MASTER FUND, LTD., c/o M&C Corporate Services Limited, ▇.▇. ▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇▇ House, South Church Street, ▇▇▇▇▇▇ Town, Grand Cayman, Cayman Islands, Fax: ▇▇▇-▇▇▇-▇▇▇▇ (the “Holder”) or its registered assigns or successors in interest, the sum of Three Million Dollars ($3,000,000), or, if different, the aggregate principal amount of all Loans (as defined in the Security Agreement referred to below), together with any accrued and unpaid interest hereon, on August 25, 2008 (the “Maturity Date”) if not sooner paid. Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Security Agreement among the Companies and the Holder dated as of the date hereof (as amended, modified and/or supplemented from time to time, the “Security Agreement”). The following terms shall apply to this Minimum Borrowing Note (this “Note”):

SECURED CONVERTIBLE MINIMUM BORROWING NOTE. FOR VALUE RECEIVED, each of IWT TESORO CORPORATIONDYNAMIC HEALTH PRODUCTS, INC., a Nevada Florida corporation (the “Parent”), and the other companies listed on Exhibit A attached hereto (such other companies together with the Parent, each a “Company” and collectively, the “Companies”), jointly and severally, promises to pay to LAURUS MASTER FUND, LTD., c/o M&C Corporate Services Limited, ▇.▇. ▇▇▇ ▇▇▇ ▇▇P.O. Box 309 GT, ▇▇▇▇▇▇ House, South Church Street, ▇▇▇▇▇▇ Town, Grand Cayman, Cayman Islands, Fax: ▇▇▇-▇▇▇-▇▇▇▇ (the “Holder”) or its registered assigns or successors in interest, on order, the sum of Three Two Million Dollars ($3,000,0002,000,000), or, if different, the aggregate principal amount of all Loans (as defined in the Security Agreement referred to below), together with any accrued and unpaid interest hereon, on August 25March 29, 2008 (the “Maturity Date”) if not sooner paid. Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Security Agreement among the Companies and the Holder dated as of the date hereof (as amended, modified and/or and supplemented from time to time, the “Security Agreement”). The following terms shall apply to this Minimum Borrowing Note (this the “Note”):