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EXHIBIT 10.10

Upon receipt of the below-executed Judgment Note, I, Harry Demetriou, promise to
lend International Fuel Technology, Inc. the sum of Five Hundred Thousand
Dollars ($500,000) wired to International Fuel Technology’s bank on or before 26
November 2007.

/s/ Harry F. Demetriou
 
Date:  12 November 2007

JUDGMENT NOTE

$500,000.00
 
November 12, 2007

On January 1, 2009, for value received, the undersigned promises to pay to the
order of Harry Demetriou the sum of Five Hundred Thousand Dollars ($500,000.00)
and interest on that amount at the rate of fifteen percent (15%) per year, until
paid.

The undersigned maker agrees that on or after a default, if this note is placed
in the hands of any attorney for collection or if an action is instituted upon
the obligation stated here in any court of competent jurisdiction, costs and
reasonable attorney's fees will be added to the then balance of principal and
interest.

The undersigned maker and guarantor jointly and severally authorize irrevocably
any attorney to appear for the undersigned in a proper court at any time upon
default, and to confess a judgment without process against the undersigned in
favor of the holder of this note for the amount unpaid on it, together with
interest, costs and reasonable attorney
fees on the amount due, admitting the allegations of any complaint filed in
connection with this note, and to waive and release all errors which may
intervene in any such proceedings, and consent to immediate enforcement of the
judgment, here ratifying and confirming all that the attorney may do by virtue
of authority.

All parties to this instrument severally waive presentment for payment, notice
of dishonor, protest and notice of protest.

No extension or modification will release any of the undersigned from the
obligations of this instrument.

 
INTERNATIONAL FUEL TECHNOLOGY, INC.
       
By:
/s/ Jonathan R. Burst
   
Its CEO
       
By:
/s/ Thomas M. Powell
   
Its Secretary

 

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EXHIBIT 10.10

GUARANTY

The undersigned, Rex Carr, hereby guarantees the payment of said note upon
demand of default.

 
/s/ Rex Carr
 
REX CARR

 
 

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