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Exhibit 10.42
FIRST AMENDMENT TO STOCK OPTION
AGREEMENT 06-2005
This
First Amendment to the Stock Option Agreement (the “ First
Amendment ”) is made and entered into effective as of
January 24, 2008 (“ Effective Date ”) by and
between the XsunX, Inc., a Colorado Corporation (" Company
"), and Dr. John J. Moore, an individual (“ Optionee
”). The Company and or the Optionee hereinafter
may be referred to individually as a “ party ”
and collectively as the “ parties .”
RECITALS
A. The
Company and Optionee are parties to that certain Stock Option
Agreement #06-2005 effective March 8, 2005, as amended (“
Agreement ”), under which the Company provided
Optionee with a grant of options to purchase common stock of the
Company in accordance with the terms and conditions set forth
therein.
B. The
Company and Optionee now wish to amend the Stock Option Agreement
as of the Effective Date in accordance with the terms set forth
herein.
NOW THEREFORE,
in consideration of the foregoing Recitals, which are made a part
of this Amendment, the mutual covenants, agreements, and
representations contained in this Amendment, and other good and
valuable consideration, the adequacy and receipt of which are
hereby acknowledged, the parties agree as follows:
AGREEMENT
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