<PAGE>   1


                                                                    EXHIBIT 10.4


                      AMENDED AND RESTATED STOCK AGREEMENT

         THIS AGREEMENT, made this 26th day of May 2000, by and between Jay A.
Sekulow, an individual currently residing at 820 Bent Grass Court, Dacula,
Georgia 30211 ("SEKULOW"), AmeriVision Communications, Inc., an Oklahoma
corporation maintaining business offices at 5900 Mosteller Drive, Suite 1800,
Oklahoma City, Oklahoma 73112, and each successor in interest (collectively the
"COMPANY"), and Tracy Freeny, ("STOCKHOLDER"), hereby amends and restates in
full the Stock Agreement by and between the same parties dated as of May 24,
1999, and this Agreement is effective as of such date.


                             BACKGROUND INFORMATION

         The Company wishes to obtain the continued services of Sekulow as a
director of the Company and to create over time a shareholding in the Company by
Sekulow for the mutual benefit of Sekulow and the Company. Stockholder supports
the election of Sekulow as a director and wishes to support his continued
service as set forth below. Sekulow is willing to serve as a director of the
Company on the terms and conditions set forth below.

                              OPERATIVE PROVISIONS

1. Commencement Date.

         Stockholder pledges that effective as of May 24, 1999 (the
"COMMENCEMENT DATE"), the Stockholder will vote in favor of and use his best
efforts to ensure the election of Sekulow to the Board of Company and otherwise
pledge to use his best efforts to ensure that the Company agrees to the terms of
this Agreement. If the Company, prior to, on or subsequent to the Commencement
Date, effects a merger with and into another entity such that it then has no
continuing legal existence, the Stockholder shall, in connection with the
consummation of such transaction, ensure to the extent possible that the
surviving entity assumes the obligations described hereunder. To the extent that
such an assumption is undertaken, references herein to the Company shall also be
deemed to refer to the party assuming its obligations hereunder.

2. Duties.

         Sekulow agrees in good faith to perform those duties normally
associated with being a director of similar companies including attendance at
board and committee meetings as designated by the Board. In addition to board
and committee meetings, such duties shall also include limited consulting
advisory assistance, including sales proposals, meetings with charities,
marketing strategy, television network and programming development, and raising
equity or other funding for Company. In recognition of these services Company
agrees to compensate Sekulow as described below in Section 3 Stock Bonus and
Section 4 Stock Option Grant.



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3. Stock Bonus.

         In connection with the execution, delivery and performance of this
agreement by Sekulow, the Company shall on July 1, 2000 grant to Sekulow stock
in the Company representing an amount equal to one-half percent (1/2%) of the
shares of the Company's common stock that are issued and outstanding as of the
close of business on the date preceding the Commencement Date; determined on a
fully diluted basis inclusive of shares reserved for issuance upon (a) the
complete exercise of all then outstanding option, warrant or rights grants
(inclusive of the shares to be made the subject of Sekulow's option grant herein
described) and employee stock incentive plans, (b) the conversion of then
outstanding preferred shares or convertible debt instruments into shares of the
Company's common stock, or (c) the consummation of any then-authorized stock
split or stock dividend provided that if at the time of such intended issuance
the Company constitutes a subsidiary of another corporation or its corporate
existence has been terminated as a result of its merger into or consolidation
with another corporation, then Sekulow shall receive certificate(s) representing
an identical ownership interest in the ultimate parent of the Company or of the
survivor of any such merger or consolidation, or, if no such parent shall then
exist, then in the survivor of the merger or consolidation. The value of each
such share as of the date of issuance or date of vesting, as applicable, shall
be determined by the issuer's board of directors. The shares shall vest (i) as
to 50% of the shares on July 1, 2000 and (ii) as to an additional 25% of the
shares on each of July 1, 2001 and July 1, 2002, provided as to each such date
that Sekulow continues his service to the Company. Sekulow shall receive from
the Company one or more certificates, registered in his name, representing each
installment of vested shares on the vesting date of such shares. In addition,
the Company shall pay at the time of each such vesting a cash bonus to Sekulow
equal to an amount such that after the payment by Sekulow of all federal, state
and local income taxes, self-employment taxes, or other taxes (including any
interest or penalties, arising from the actions or inactions of the Company,
imposed with respect thereto) ("INCOME TAXES") imposed on the receipt of the
stock being vested and on such bonus, Sekulow retains an amount of the bonus
equal to the Income Taxes imposed on him by the vesting of the stock and by the
bonus payments.

4. Stock Option Grant.

         Sekulow is hereby granted a non-qualified option (the "OPTION") to
acquire from the Company authorized but unissued shares of its common stock in a
quantity equal to three percent (3%) of the Company's then issued and
outstanding common stock, to be determined on a fully diluted basis inclusive of
shares reserved for issuance upon (a) the complete exercise of all then
outstanding option, warrant or rights grants (inclusive of the shares to be made
the subject of Sekulow's option grant herein described) and employee stock
incentive plans, (b) the conversion of then outstanding preferred shares or
convertible debt instruments into shares of the Company's common stock, or (c)
the consummation of any then-authorized stock split or stock dividend provided
that if at the time of such intended issuance the Company constitutes a
subsidiary of another corporation or its corporate existence has been terminated
as a result of its merger into or consolidation with another corporation, then
Sekulow shall receive certificate(s) representing an identical ownership
interest in the ultimate parent of the Company or of the survivor of any such
merger or consolidation, or, if no such parent shall then exist, then in the
survivor of the merger or consolidation. The exercise price of each share the
subject of the Option grant shall in


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consideration of Sekulow's prior commitments to the Company be the fair value at
February 1, 1998 as determined by the Company's Board of Directors, and on the
condition that Sekulow is then a director of the Company, the date upon which
exercise of incremental portions of the Option may commence shall be determined
in the following manner:


<TABLE>
<CAPTION>
    The following percentage                       shall be exercisable
      of the Option shares                              commencing
      --------------------                              ----------
<S>                                               <C>
               25%                                    on July 1, 1999
               25%                                     July 1, 2000
               25%                                     July 1, 2001
               25%                                     July 1, 2002
</TABLE>

and each exercise right shall continue in force for a period of five years
following its commencement, irrespective of Sekulow's subsequent status with the
Company. Further, on the date of any sale of all or substantially all of the
Company's assets or any merger or consolidation transaction as the result of
which the Company is not the surviving entity (other than any merger effected
for the principal purpose of reincorporation in another jurisdiction or for
another purpose not resulting in at least a 30% change in the ultimate
beneficial ownership of the Company), Sekulow (or, in the event of his legal
incapacity, his legal representative(s)) shall also be entitled to exercise the
Option as to all shares then otherwise ineligible for exercise, and within the
six-month period following his death, Sekulow's representative(s) or
Beneficiary(ies) shall be entitled to exercise the Option as to one-half of all
shares which would otherwise be ineligible for acquisition as of the date of his
death. Shares made the subject of the Option grant as to which no exercise right
shall have commenced on the date of Sekulow's termination as a board member,
shall be returned to the status of authorized but unreserved shares and shall no
longer be available for acquisition by Sekulow.

5. Proprietary Interests.

         During or after the expiration of his term as a director with the
Company, Sekulow shall not communicate or divulge to, or use for the benefit of,
any individual, association, partnership, trust, corporation or other entity
except the Company, any proprietary or confidential information of the Company
received by Sekulow by virtue of such directorship, without first being in
receipt of the Company's written consent to do so and in compliance with the
terms of any other confidentiality or non-competition agreement which Sekulow
may hereafter execute with the Company; provided that nothing contained herein
shall restrict Sekulow's use or disclosure of such information known to the
public (other than that which he may have disclosed in breach of this
Agreement), or as required by law (so long as Sekulow gives the Company prior
notice of such required disclosure).



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6. Remedies for Breach of Obligations.

         a. Injunctive Relief. The parties agree that the services of Sekulow
are of a personal, specific, unique and extraordinary character and cannot be
readily replaced by the Company. They further agree that in the course of
performing his Services, Sekulow will have access to various types of
proprietary information of the Company, which, if released to others or used by
Sekulow other than for the benefit of the Company, in either case without the
Company's consent, could cause the Company to suffer irreparable and continuing
injury. Therefore, the confidentiality obligations of Sekulow established under
Section 5 hereof shall be enforceable by the Company both at law and in equity,
by injunction, specific performance, damages or other remedy; and the right of
the Company to obtain any such remedy shall be cumulative and not alternative
and shall not be exhausted by any one or more uses thereof.

         b. Arbitration. In the event of any dispute between the parties under
or relating to this Agreement, such dispute shall be submitted to and settled by
arbitration in Oklahoma County, Oklahoma, in accordance with the rules and
regulations of the American Arbitration Association then in effect. The
arbitrator(s) shall have the right and authority to determine how their award or
decision as to each issue and matter in dispute may be implemented or enforced.
Any decision or award shall be final and conclusive on the parties; there shall
be no appeal therefrom other than for claimed bias, fraud or misconduct by the
arbitrator(s); judgment upon any award or decision may be entered in any court
of competent jurisdiction in the State of Oklahoma or elsewhere; and the parties
hereto consent to the application by any party in interest to any court of
competent jurisdiction for confirmation or enforcement of such award. The party
against whom a decision is made shall pay the fees of the American Arbitration
Association. Notwithstanding the foregoing, the Company, at its sole option
shall be entitled to enforce its rights, as contemplated by Section 6a hereof,
to injunctive and other equitable relief in the event of a breach of Section 5
hereof or of any material term of a confidentiality or non-competition agreement
to which the Company and Sekulow shall then be parties, either by arbitration
pursuant to this Section 6b, or directly in any court of competent jurisdiction.

7. Miscellaneous Provisions.

         a. Notice: All notices or other communications required or permitted to
be given pursuant to this Agreement shall be in writing and shall be considered
properly given to the recipient party if furnished by hand delivery; by sending
a copy thereof by first-class or express mail, postage prepaid, or by courier
service (with charges prepaid), in each case to the address indicated above or
to such other address as the recipient shall have provided in accordance with
the terms hereof; or by sending a copy thereof by whatever telecopier service
the recipient shall have designated below (or by subsequent notice provided in
accordance with the terms hereof). If the notice is sent by mail or courier
service, it shall be deemed to have been given to the recipient when deposited
in the United States mail or courier service for delivery to that party; or if
by telecopier, when the sending party is in receipt of documentary evidence that
the transmission has been successfully completed. Whenever the furnishing of
notice is required, the same may be waived by the party entitled to receive such
notice.


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         b. Assignability: The Company may assign this Agreement to, and only
to, an entity owned more than 50% by the Company (directly or indirectly), and
which acquires all or substantially all of the Company's business, and upon such
assignment this Agreement shall inure to the benefit of and be binding upon such
entity. Neither this Agreement nor any right or interest hereunder shall be
assignable by Sekulow, but shall inure to the benefit of and be binding upon
him, his Beneficiaries and legal representatives.

         c. Nontransferability of Option: The Option is not transferable by
Sekulow otherwise than by will or the laws of descent and distribution. During
Sekulow's lifetime, only Sekulow may exercise the Option. This Option may not be
transferred, assigned, pledged, hypothecated, or otherwise disposed by Sekulow
during his lifetime, whether by operation of law or otherwise, and is not
subject to execution, attachment or similar process. Any attempted transfer,
assignment, pledge, hypothecation, or other disposition of this Option contrary
to the provisions hereof, and the levy of an attachment or similar process upon
the Option, shall be null and void and without effect. The Company shall have
the right to terminate the Option in the event of such attempted transfer,
assignment, pledge, hypothecation, or other disposition, or levy of attachment
or similar process, by notice to that effect to Sekulow, provided, however, that
termination of the Option hereunder shall not prejudice any rights or remedies
which the Company may have under this Agreement or otherwise.

         d. Restrictions on the Transferability of Shares: The shares of common
stock of the Company received under Section 3 above are not transferable other
than after they have vested in accordance with such Section or by will or the
laws of descent and distribution, or as set forth in this Section 7. Any
attempted transfer, assignment, pledge, hypothecation, or other disposition of
any such shares contrary to the provisions hereof shall be null and void and
without effect. The certificate(s) evidencing such shares described in Section 3
shall bear a legend indicating that the transferability of the shares is
governed by this Agreement.

         e. Entire Agreement: This Agreement, and any other document referenced
herein, constitute the entire understanding of the parties hereto with respect
to the subject matter hereof, and no amendment, modification or alteration of
the terms hereof shall be binding unless the same be in writing, dated
subsequently to the date hereof and duly approved and executed by each of the
parties hereto. This Agreement supersedes the Stock Agreements dated January 27,
1998 and May 24, 1999 between Sekulow and the Company.

         f. Enforceability: If any term or condition of this Agreement shall be
invalid or unenforceable to any extent or in any application, then the remainder
of this Agreement, and such term or condition except to such extent or in such
application, shall not be affected thereby and each and every term and condition
of this Agreement shall be valid and enforced to the fullest extent and in the
broadest application permitted by law.

         g. Governing Law: This Agreement shall be deemed to have been made in
and shall be construed and interpreted in accordance with the laws of the State
of Oklahoma without giving effect to principles of conflicts of laws.


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         h. Counterparts: This Agreement may be executed by any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         i. Binding Effect: Each of the provisions and agreements herein
contained shall be binding upon and inure to the benefit of the personal
representatives, devisees, heirs, successors, transferees and assigns of the
respective parties hereto.

         j. Legal Fees and Costs: If a legal action is initiated by any party to
this Agreement against another, arising out of or relating to the alleged
performance or non-performance or any right or obligation established hereunder,
or any dispute concerning the same, any and all fees, costs and expenses
reasonably incurred by each successful party or his or its legal counsel in
investigating, preparing for, prosecuting, defending against, or providing
evidence, producing documents or taking any other action in respect of, such
action shall be the joint and several obligation of and shall be paid or
reimbursed by the unsuccessful party(ies).

         k. Adjustments: In the event of any change in the common stock of the
Company by reason of a stock dividend, forward or reverse stock split,
recapitalization, corporate merger or combination, exchange of shares with
another corporation, or a substantially similar event which dilutes the value of
or otherwise adversely affects such stock or the ability of Sekulow to exercise
his Option rights, granted under Section 4 above, in accordance with the terms
of this Agreement (each a "CORPORATE FINANCE TRANSACTION"), the number of shares
made the subject of Sekulow's Option and the price at which each share is
subject to purchase by Sekulow shall be adjusted appropriately to ensure that
the shares will be subject to acquisition by Sekulow at a price and upon terms
commensurate to those herein set forth. Moreover, the Company shall be required
to notify Sekulow promptly following its approval of a Corporate Finance
Transaction, and to provide Sekulow with the right to effect an exercise of the
Option within whatever period of time then precedes the scheduled consummation
of such Transaction.

         l. Board of Directors: For five years, Stockholder agrees to vote his
shares of the Company in favor of election of Sekulow as a director of the
Company or any controlled or affiliated entity.



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         IN WITNESS WHEREOF, the parties have executed this Agreement.





                               By: /s/ Tracy Freeny
                                   --------------------------------------------
                                   Tracy Freeny, Stockholder



                               By: /s/ Jay Sekulow
                                   --------------------------------------------
                                   Jay A. Sekulow


                               AmeriVision Communications, Inc.



                               By: /s/ Stephen D. Halliday
                                   --------------------------------------------
                                   Stephen D. Halliday, Chief Executive Officer









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