EXHIBIT 10g

                              EMPLOYMENT AGREEMENT

         THIS  EMPLOYMENT  AGREEMENT  (hereinafter  called the  "Agreement")  is
entered into as of August 11, 1997, by and between  COLONIAL TRUST  COMPANY,  an
Arizona  corporation  (hereinafter  called the  "Company"),  with its  principal
office  located at 5336 N. 19th Avenue,  Phoenix,  Arizona  85015,  and Cecil E.
Glovier,  residing at 16925 Roadrunner Road, Mayer,  Arizona 86333  (hereinafter
referred to as "Glovier").

         Glovier is presently  employed by the Company as Senior Vice  President
and Secretary. The Company and Glovier desire to formalize their relationship.

         NOW,  THEREFORE,  in  consideration  of the  premises  and  the  mutual
agreements hereinafter set forth, the parties do hereby agree as follows:

         1.  EMPLOYMENT.  The Company  hereby  continues  to employ  Glovier and
Glovier  hereby  accepts  continued  employment  by the  Company as Senior  Vice
President  and  Secretary  to  perform  such  duties  and  services  of a senior
executive nature as may from time to time be assigned or delegated to him by the
Board of Directors and President of the Company.

         Throughout the term of this  Agreement,  Glovier will devote his entire
working time,  energy,  skill and best efforts to the  performance of his duties
hereunder in a manner which will faithfully and diligently  further the business
interests  of the  Company.  Notwithstanding  the  foregoing,  Glovier  shall be
permitted to serve as a director of additional  organizations and participate in
other activities for other groups upon the prior approval by the Company,  which
approval shall not unreasonable be withheld.

         2.  TERM.  This  Agreement  shall  be fora  term of  three  (3)  years,
commencing  on August  11,1997,  and ending on August 10,  2000,  unless  sooner
terminated as hereinafter provided. Unless either party elects to terminate this
Agreement  at the end of the  original or any  renewal  term by giving the other
party notice of such election at least sixty (60) days before the  expiration of
the then current term,  this Agreement  shall be deemed to have been renewed for
an additional term of one (1) year commencing on the day after the expiration of
the then current term.

         3. COMPENSATION AND BENEFITS.

         (a) SALARY,  For the services  rendered by Glovier to Company,  Glovier
shall  receive  a base  salary  at the rate of  $72,000  per  year,  payable  in
accordance  with the standard  payroll  practices of the Company.  Additionally,
Glovier shall receive an annual performance and salary review from the President
of the Company.

         (b) BONUS.  Glovier  shall be entitled to receive an annual  bonus each
fiscal  year in which the  Company  generates  net income  (after the payment of
income taxes), calculated according to the following formula: for before-tax net
income of less than $100,000,  a bonus amount equal to five percent of the total
after-tax net income;  for  before-tax  net income from $100,000 to $200,000,  a
bonus  amount  equal to six  percent  of the total  after-tax  net  income;  for
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before-tax  net income from $200,000 to $300,000,  a bonus amount equal to seven
percent of the total  after-tax  net  income;  for  before-tax  net income  over
$300,000,  a bonus  amount  equal to seven  and  one-half  percent  of the total
after-tax net income.  Such bonus, if any, shall be paid within ninety (90) days
from the end of the  Company's  fiscal year.  The Company and Glovier  shall use
their  best  efforts  to cause  such  bonus to be  treated  as an expense of the
Company  during the fiscal  year in which such bonus is earned,  not the year in
which bonus is paid.

         (c.) STOCK OPTIONS. In addition to the monetary  compensation set forth
above,  Glovier  will have the  opportunity  to acquire up to 150,000  shares of
Common  Stock of the Company  pursuant to the  Company's  Employee  Stock Option
Plan.  Options  shall vest in three  increments  of 50,000  shares on August 11,
1998, 1999 and 2000, respectively; the exercise price for all such options shall
be $25 per share.

         (d) MEDICAL  INSURANCE.  The Company will provide  coverage for Glovier
and his dependents under the Company's health insurance policy.

         (e) LIFE  INSURANCE.  The Company will procure and maintain in effect a
$500,000 term life insurance policy insuring Glovier's life; provided,  however,
if Glovier is not insurable at regular  rates,  the Company will purchase a term
life policy only in such amount as it may purchase by paying a premium  equal to
the amount it would have paid for a $500,000  policy had Glovier been  insurable
at regular rates, In the event of Glovier's  death,  one-half of the face amount
of the policy  shall be payable  to the  Company  and the other half of the face
amount of the policy shall be payable to beneficiaries designated by Glovier.

         (f) DISABILITY  INSURANCE.  DISABILITY PAYMENTS BY COMPANY. The Company
agrees that Glovier will be provided  the same level of  disability  coverage as
the Company provides for its other senior executives.

         4. TERMINATION FOR CAUSE. The Company may terminate this Agreement upon
the occurrence of any of the following:

         (a) The death of Glovier; or

         (b) Subject to Section 3(f) above,  Glovier's  inability to perform his
duties under this  Agreement  for a period of more than ninety (90)  consecutive
days due to total or partial disability; or

         (c) If Glovier fails to perform his duties to the Company  hereunder to
the  satisfaction  of the  Company's  Board of  Directors;  commits such acts of
dishonesty,  theft or fraud as would  prevent the effective  performance  of his
duties  hereunder;  breaches  the terms of  Section 6 of this  Agreement;  or is
convicted of a crime which would prevent the effective performance of his duties
hereunder.

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Any termination of Glovier's employment will be effective upon Glovier's receipt
of written notice of such  termination,  and such  termination  shall be without
prejudice  to any other  remedy to which the Company  may be entitled  either at
law, in equity or under this Agreement.

         6. CONFIDENTIAL INFORMATION. NON-SOLICITATION.

         (a)  CONFIDENTIAL   INFORMATION,   NON-SOLICITATION,   All  information
furnished  to Glovier by the  Company,  learned by Glovier  from the  Company or
developed by Glovier on behalf of the Company or at the  Company's  direction or
for the  Company's  use or otherwise in  connection  with  Glovier's  employment
hereunder,  are and  shall  remain  the sole and  confidential  property  of the
Company;  provided,   however,  the  foregoing  shall  not  apply  to  any  such
information  in the  public  domain  other  than by  reason  of a breach of this
Paragraph  5. If the  Company  requests  the return of  information  or any such
materials  at any time during or at the  termination  of  Glovier's  employment,
Glovier shall  immediately  deliver the same to the Company.  During the term of
this  Agreement  and at all  times  thereafter,  Glovier  shall  not use for his
personal benefit, or disclose,  communicate or divulge to, or use for the direct
or indixcct  benefit of any person,  firm  association or company other than the
Company,  any  material  referred  to in this  Paragraph  5 or any  confidential
information  regarding  the business  methods,  business  policies,  procedures,
techniques, trade secrets or other knowledge or processes of or developed by the
Company  or any  names  and  addresses  of  customers  or  clients  or any other
confidential  information  relating  to past,  present or  prospective  business
operations  or  activities  of the Company,  made known to Glovier or learned or
acquired by Glovier while in the employ of the Company.

         (b)  NON-SOLICITATION.  During  the  term of this  Agreement  and for a
period of one (1) year after the  termination of his employment with the Company
for any reason whatsoever,  Glovier shall not, directly or indirectly,  solicit,
induce,  encourage  or attempt to  influence  any  client,  customer,  employee,
consultant,   independent  contractor,  salesman  or  supplier  of  the  Company
(including  without  limitation any broker/dealer  with whom the Company does or
has done  business) to cease to do business with or to terminate his  employment
with the  Company  and  shall not  utilize  for any such  purpose  any names and
addresses  of  customers or clients of the Company or any data on or relating to
past,   present  or  prospective  (at  the  time  of  termination  of  Gloviers'
employment) customers or clients of the Company.

         7. ARBITRATION OF DISPUTES.  Any controversy or claim arising out of or
relating to this Agreement or the breach thereof shall be settled by arbitration
in accordance with the rules of the American Arbitration Association.  Judgement
upon the award  rendered by the  arbitrator  may be interred in any court having
jurisdiction thereof.

         8.  MODIFICATION  OF  CONTRACT.  No  waiver  or  modification  of  this
Agreement  shall be valid  unless it is in  writing  and duly  executed  by both
parties.

         9.  SEVERABILITY.  All  agreements and covenants  contained  herein are
severable, and in the event any of them shall be held to be invalid by any court
of  competent  jurisdiction,  this  Agreement  shall be  interpreted  as if such
invalid agreements and covenants were not contained herein.

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         10. GOVERNING LAW, VENUE FOR  ARBITRATION.  This Agreement takes effect
upon its acceptance and execution by the Company in Phoenix,  Arizona, and shall
be interpreted and construed under the laws of the State of Arizona,  which laws
shall  prevail  in the event of any  conflict  of law.  This  Agreement  and the
obligations  hereunder are made and  performable  in Maricopa  County,  Arizona,
which shall be the exclusive venue for any arbitration hereunder.

         11.  NOTICE.  Any notice to be given  hereunder  by either party to the
other shall be in writing  and may be  transmitted  by  personal  delivery or by
mail, registered or certified,  postage prepaid with return receipt requested to
their respective addresses hereinabove provided, or to the Company or Glovier at
it's or his last known address.

         12. ENTIRE AGREEMENT.  This Agreement  contains the complete  agreement
between the Company and Glovier  concerning the employment  arrangement  between
the  Company  and  Glovier.  The  parties  acknowledge  that any  statements  or
representations  that may have been made previously by either one of them to the
other (other than those  contained in this  Agreement) are of no effect and that
neither of them has relied on such considerations in executing this Agreement.

         IN WITNESS WHEREOF,  the parties have executed or caused this Agreement
to be executed as of the day, month and year first above written.

                             COLONIAL TRUST COMPANY

                             BY /s/ John K. Johnson
                               ---------------------------------
                                John K. Johnson
                                President and Chief Executive Officer

                             COMPANY

                                /s/ Cecil E. Glovier
                                ---------------------------------
                                Cecil E. Glovier


 

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