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Exhibit
10.3
 INTERNATIONAL FUEL TECHNOLOGY, INC.
AMENDED AND RESTATED 2001 LONG TERM INCENTIVE PLAN
 Adopted: October 22, 2006
Termination Date: October 21, 2016
 1. PURPOSES.
 (a) Eligible Stock Award Recipients.
 (b) Available Stock Awards.
 (c) General Purpose.
 2. DEFINITIONS.
 (a) Affiliate
 (b) Award Date
 (c) Base Price
 (d) Board
 (e) Cause




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(f) Change of Control
 (g) Code
 (h) Committee
 (i) Common Stock
 (j) Company
 (k) Consultant




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(l) Director
 (m) Disability
 (n) Employee
 (o) Exchange Act
 (p) Fair Market Value
 The Wall Street Journal
  (q) Good Reason
 (r) Group
 (s) Incentive Stock Option




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(t) Non-Negotiated Change in Control
 (u) Nonstatutory Stock Option
 (v) Officer
 (w) Option
 (x) Option Agreement




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(y) Optionholder
 (z) Outside Director
 (aa) Participant
 (bb) Performance Award
 (cc) Performance Period
 (dd) Person
 (ee) Plan
 (ff) Reporting Person
 (gg) Restricted Stock
 (hh) Restricted Stock Awards
 (ii) Retirement
 (jj) Stock Appreciation Right SAR




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(kk) Rule 16b-3
 (ll) Securities Act
 (mm) Stock Award
 (nn) Stock Award Agreement
 (oo) Ten Percent Stockholder
 3. ADMINISTRATION.
 (a) Administration by Board.
 (b) Powers of Board.




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(c) Delegation to Committee.
  (d) Effect of Boards Decision.
 4. SHARES SUBJECT TO THE PLAN.
 (a) Share Reserve.
 (b) Reversion of Shares to the Share Reserve.
 (c) Source of Shares.
 5. ELIGIBILITY.
 (a) Eligibility for Specific Stock Awards.
 (b) Ten Percent Stockholders.




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(c) Award Date.
 6. OPTION PROVISIONS.
  (a) Term.
 (b) Exercise Price of an Option.
 (c) Consideration.




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(d) Delivery of Certificate.
  (e) Transferability of an Incentive Stock Option.
 (f) Transferability of a Nonstatutory Stock Option.
 (g) Vesting Generally.
 Period of Time 
from Date of Grant
    
    Percentage of Shares Subject to
Options which are ExercisableSix months from date of grant
    
    33 1/3 percentTwelve months from date of grant
    
    66 2/3 percentEighteen months from date of grant
    
    100 percent




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(h) Termination of Option.
 Unvested Options.
 Vested Options.
 Nonstatutory Stock Options
 Incentive Stock Options
 (i) Disability of Optionholder.




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(j) Death of Optionholder of a Stock Option.
 (k) Cancellation and Rescission of Stock Awards.
  
          7. PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS.
 (a) Stock Appreciation Rights.
 General
 Exercise Period.




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(b) Restricted Stock Awards.




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(c) Performance Awards
 8. COVENANTS OF THE COMPANY.
 (a) Securities Law Compliance.
 9. USE OF PROCEEDS FROM STOCK.
  10. MISCELLANEOUS.
 (a) Acceleration of Exercisability and Vesting.
 (b) Stockholder Rights.




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(c) No Employment or other Service Rights.
 (d) Incentive Stock Option Limitation.
 (e) Withholding Obligations.
 11. ADJUSTMENTS UPON CHANGES IN STOCK.
 (a) Capitalization Adjustments.




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(b) Dissolution or Liquidation.
 (c) Change of Control.
  12. AMENDMENT OF THE PLAN AND STOCK AWARDS.
 (a) Amendment of Plan.
 (b) Contemplated Amendments.
 (c) No Impairment of Rights.
 (d) Amendment of Stock Awards.
 13. TERMINATION OR SUSPENSION OF THE PLAN.
 (a) Plan Termination.




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(b) No Impairment of Rights.
 14. EFFECTIVE DATE OF PLAN.
  15. CHOICE OF LAW.
   ByChief Executive Officer