X0202 4 2004-10-01 1 0000821113 GEXA CORP GEXC 0001268406 BURKE JAMES A 20 GREENWAY PLAZA STE 600 HOUSTON TX 77046 0 1 0 0 President and COO Employee Stock Option (Right to Buy) 2.25 2004-10-01 4 D 0 350000 0 D 2008-10-18 Common Stock 350000 0 D Employee Stock Option (Right to Buy) 2.25 2004-10-01 4 A 0 350000 0 A Common Stock 350000 350000 D Amendment of outstanding option resulting in deemed cancellation of option and grant of replacement option. The original option was granted on October 18, 2003 and vested 33.4% on the grant date and 33.3% on each of the first and second anniversaries of the grant date. The replacement option is fully vested as to 33.4% of the shares and 33.3% will vest on October 18, 2004, with the expiration of those options being April 1, 2007. The remaining 33.3% of the shares will only vest upon a change in control of the Company occurring on or before December 31, 2005. /s/ JAMES A BURKE 2004-10-01