Distnoted.exe is a program which could have been installed by you, or may have even arrived on your computer the day you purchased it as this may have been preinstalled software.
Always verify where its located on your hard drive, as this makes sure it is not spyware or adware simply placed elsewhere on your computer, and using the same name in an attempt to fool you. This file is installed along with ITunes latest version, and it will be a running process in your tasklist if you are using IPhone. Since ITunes is used to sync the Iphone or load files on to it, ITunes is the install that has activated this process and its purpose is to sync up with your IPhone.
This is not considered adware or spyware and is considered a safe file.