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Exhibit
99.23
STOCK OPTION AGREEMENT
This Stock Option Agreement ("Stock Option
Agreement") is granted effective this day of April,
2007 by Nexia Holdings, Inc. (the "Company") to Ralph T. Nagasawa,
an employee of the Company ("Optionee") and a Utah
resident.
PREMISES
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A.
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The Company has received valuable services from
Optionee in the past and desires to compensate Optionee for these
services by issuing Optionee an option (the "Option") to purchase a
total of Twenty Million (20,000,000), shares of the Company's
common stock. The options will have a floating option price set at
75% of the market price at the time of exercise, the options and
shares issued subject to the options shall be issued pursuant to a
registration statement on Form S-8 under the Securities Act of 1933
as amended ("Form S-8").
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GRANT
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1.
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Grant of Options. The Company hereby
grants Optionee the right and option ("Option") to purchase the
above described Twenty Million (20,000,000) shares of Common Stock,
on the terms and conditions set forth herein and subject to the
provisions of the Form S-8 registration statement in exchange for
services provided by Employee to the Company, the options shall
vest immediately upon the exercise hereof.
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3.
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Method of Exercising . This Option may
be exercised in accordance with all the terms and conditions set
forth in this Option and the Stock Option Plan, by delivery of a
notice of exercise a form of which is attached hereto as Exhibit
"A" and incorporated herein by this reference, setting forth the
number of Options along with a signed letter of instruction to the
stock broker Optionee will employ in selling the shares indicating
that the specified exercise price shall be paid within 10 days of
the sale or as otherwise specified at the time of exercise. Shares
issued in anticipation of the
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