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Exhibit
99.16
STOCK OPTIONAGREEMENT
This Stock Option Agreement ("Stock Option
Agreement") is granted effective this 20 th day of
March, 2007 by Nexia Holdings, Inc. (the "Company") to Andrew
Dunham, a consultant and employee of the Company ("Optionee") and a
Utah resident.
PREMISES
A.
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 Forty Million
(40,000,000), 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 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").
GRANT
1.
Grant of
Options.The Company
hereby grants Optionee the right and option ("Option") to purchase
the above described Forty Million (40,000,000) 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 Consultant to the Company, the options
shall vest immediately upon the exercise hereof.
2.
Term of
Option. This Option may
be exercised, in whole or in part, at any time prior to one year
from the grant date of this Option. All rights to exercise this
option end with the termination of employment with the Company, for
any reason and by any party.
3.
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 indicating that the
specified exercise price shall be paid within 10 da
