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                                                                    EXHIBIT 10.8

                    EMPLOYMENT AND CONFIDENTIALITY AGREEMENT


      This Employment and Confidentiality Agreement (the "Agreement") is made
and entered into as of March 3, 1999 (the "Effective Date") by and between
Robert Gillette ("Employee") and Tejas Securities Group, Inc. (the "Company").

      WHEREAS the Company and Employee have decided to reflect the terms of
Employee's employment with the Company in a written document and which shall
govern the material terms of Employee's employment by the Company. In addition
to the terms of this Agreement, Employee shall be subject to certain policies
and procedures published by the Company, or made known to Employee from time to
time. Such policies and procedures are incorporated within this Agreement as if
fully set forth herein.

      NOW THEREFORE, in consideration of the premises and mutual agreements
hereafter set forth, and upon the terms and conditions contained in this
Agreement, Employee and the Company hereby agree as follows:

1. Conditions of Employment.

      1.1. Compliance with Company Policies.

            Employee shall be subject to the policies and procedures enacted by
      the Company from time to time and made known to Employee either through
      publication or by direct discussion with Employee.

      1.2. Compliance with Applicable Rules and Regulations.

            Employee shall be subject to all of the Rules and Regulations of the
      Securities and Exchange Commission and the National Association of
      Securities




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      Dealers and the Company reserves the right to terminate Employee should
      he/she not remain compliant with these Rules and Regulations.

      1.3. Other Business Interests.

            Employee shall not be employed by or receive any other employment
      compensation from any other person or entity except as may be agreed to by
      the Company in writing. All revenues generated from Employee's efforts
      shall at all times belong to the Company unless otherwise agreed to
      pursuant to written agreement between Company and Employee.

      1.4. Term and Termination.

            Employee's employment with the Company shall be guaranteed for a
      period of one-year commencing on the first day of employment. However, if
      Employee accepts a position with another Firm, the Company shall have no
      further payment obligation to Employee.

2. Duties, Compensation and Benefits.

      2.1. Title.

            Retail Sales Manager.

      2.2. Capacity.

            Employee shall serve as an employee of the Company and shall perform
      such customary, appropriate and reasonable duties as are performed by an
      employee as may be delegated to Employee by the Board of Directors of the
      Company (the "Board").


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      2.3. Schedule.

            Employee shall be employed on a full time basis and shall devote all
      of his/her working time, intentions and energies to the Company. Employee
      shall at all times perform his/her duties and obligations faithfully,
      diligently and to the best of their abilities.

      2.4. Salary.

            During employment with the Company, Employee shall be paid the
      greater of $96,000 per year ($8,000 per month for each month of
      employment) or a 1.5% override on all annual retail sales production
      greater than $3 million for 1999, and $4 million thereafter, in accordance
      with the Company's standard payroll practice. The Company shall review the
      retail sales production each January, and shall adjust the Employee's
      compensation to the greater of the salary or override, if necessary.
      Salary shall be subject to annual review and adjustment at the discretion
      of the Board or any committee or individual appointed by the Board to
      perform such function.

      2.5. Commissions.

            Employee shall received a commission based on the Company's
      commission grid on all sales collected by the Company directly
      attributable to the employees efforts pursuant to policies and procedures
      established by the Board of Directors.


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      2.6. Business Expenses.

            The Company shall reimburse Employee for reasonable business
      expenses necessarily and appropriately incurred by Employee in performing
      his/her duties hereunder in accordance with such policies and procedures
      regarding employee expenses as the Company may from time to time put in
      effect.

      2.7. Moving Expenses.

            The Company shall reimburse Employee for all reasonable expenses
      incurred during relocation to Company's headquarters in Austin, Texas.
      Employee shall be responsible for providing receipts and documentation for
      moving expenses prior to reimbursement.

      2.8. Benefits.

            In addition to salary, commissions, overrides, Employee shall be
      entitled to participate in any Employee benefit program established from
      time to time for employees of the Company as determined by eligibility
      requirements established by the Company or such employee benefit programs.

      2.9. Holiday and Vacation.

            Employee shall be entitled to all holidays provided under the
      Company's regular holiday schedule published from time to time by Company.
      In addition, Employee shall be entitled to vacation time in accordance
      with the policies established by the Company from time to time.


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3. Confidential Information.

            Employee understands and agrees that in connection with the
      performance of their obligations and duties, Employee has and will receive
      certain proprietary, confidential or other information concerning the
      Company that the Company regards as highly confidential. In addition,
      Employee acknowledges and agrees that he/she will receive special and
      important training in regard to the performance of the business
      activities. The information provided to Employee may include, without
      limitation or designation as such, business strategies, terms of contracts
      and business relationships, pricing information and other information that
      is not generally known to the public. Employee acknowledges and agrees
      that all such information, including information obtained through special
      training by the Company, is and will at all times remain the sole and
      exclusive property of the Company. Employee acknowledges and agrees that
      they will, during the term of their employment with the Company and at all
      times thereafter hold such information in confidence and not disclose any
      such information to any third party except as authorized in advance in
      writing by the Company or directly in connection with the performance of
      the employees obligations hereunder. In the event of the termination of
      Employee's employment with the Company, Employee shall promptly return all
      confidential and propriety information in Employee's possession to the
      Company. Employee agrees that notwithstanding the termination of the
      employee's employment relationship with the Company that his/her agreement
      to keep the Company's


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      confidential and proprietary business information confidential will
      survive the termination of such employment relationship.

            In addition, Employee agrees and understands that the damages which
      will be incurred by the Company as a result of the breach of this
      confidentiality provision are incalculable. Employee agrees that in
      addition to any remedy available to the Company provided by law, that
      Company will be entitled to injunctive relief, including but not limited
      to obtaining such temporary orders of the Court as may be necessary and
      appropriate in order to enforce this provision.

4. Miscellaneous.

      4.1. Successors and Assigns.

            This Agreement shall be bind on and enure to the benefit of the
      parties hereto and their heirs, executors, legal representatives and
      successors. This Agreement may not be assigned, in whole or in part,
      without the prior written agreement of both parties hereto, except with
      respect to the confidentiality provisions contained in paragraph 3 hereof.
      Any attempt to assign the provisions of this Agreement (except for
      paragraph 3) shall be null and void.

      4.2. Withholding.

            Employee hereby agrees to make appropriate arrangements with the
      Company for the satisfaction of all federal, state or local income tax
      withholding requirements and other federal, social security, employee tax
      requirements applicable to this Agreement.


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      4.3. Governing Law.

            This Agreement is made and entered into and is to be governed by and
      construed in accordance with the laws of the State of Texas applicable to
      agreements made and to be performed entirely within such state, without
      regard of the conflict of law principals for any such state. Employee
      agrees that there are sufficient contacts within the State of Texas to
      enforce this provision.

      4.4. Waiver.

            The failure of either party at any time to require a performance by
      the other party of any provision hereof shall not effect in any way the
      full right to require such performance at any time thereafter nor shall a
      waiver by either party of a breach of any provision hereof be taken or
      held to be a continuing waiver of such provision or a waiver of any other
      breach under any other provision of this Agreement.

      4.5. Caption.

            The captions of the sections which are referenced above are inserted
      as a matter of convenience only and are in no way to define, limit or
      describe the scope of this Agreement or provisions hereof.

      4.6. Entire Agreement/Interpretation.

            This Agreement sets forth the entire agreement and understanding
      between the parties hereto with respect to the subject matter hereof and
      supercedes all prior contracts, agreements, arrangements, communications,
      discussions, representations and warranties, whether oral or written,
      between the parties with


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      respect to the subject matter. This Agreement may be amended only by a
      written instrument signed by both parties hereto making specific reference
      to this Agreement and express a plan or intention to modify it. The
      parties acknowledge that this Agreement has been drafted through mutual
      efforts of the parties and that it shall not be construed more harshly
      against any party hereto.

      4.7. Counterpart.

            This Agreement may be executed in any number of counterparts each of
      which shall be deemed to be an original and all of which together shall
      constitute on and the same agreement.

      4.8. Non-Compete (Optional).

      In witness whereof the parties hereto have executed this Employment
Agreement as of the date first written above.

                                         TEJAS SECURITIES GROUP, INC.


                                         By:       /s/ Jay W. Van Ert
                                              ----------------------------------
                                              Jay W. Van Ert, President


                                         EMPLOYEE


                                                   /s/ Robert Gillette
                                         --------------------------------------
                                         Robert Gillette


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