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                                                                    EXHIBIT 10.9


                    EMPLOYMENT AND CONFIDENTIALITY AGREEMENT


         This Employment and Confidentiality Agreement (the "Agreement") is made
and entered into as of October 29, 1998 (the "Effective Date") by and between
Reed Durant ("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.

                The term of this Employment Agreement will be for a period of
          two years. Employee's employment with the Company shall be "at will"
          and may be terminated by either Employee or Company at any time and
          for any or no particular reason or cause with or without advance
          notice to the other.

2. Duties, Compensation and Benefits.

     2.1. Title.

                Vice President.

     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").

                Schedule.



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                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.
          Employee will be allowed to work two Fridays per month in the Dallas
          office of the Company for a period of up to six months.

     2.3. Salary.

                During employment with the Company, Employee shall be paid
          $6,250 per month for each month of employment in accordance with the
          Company's standard payroll practice. 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.

     2.4. Bonus.

                Employee shall receive an annual bonus of approximately 10-30%
          of Employees compensation for the year depending on the performance of
          the Employee and the Company. If Employee is terminated or terminates
          his/her employment during any twelve month consecutive review period,
          he/she shall not be entitled to any bonus.



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     2.5. 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.

     2.6. Benefits.

               In addition to salary, commissions, overrides, stock options
          and the right to receive warrant distributions, 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.

     2.7. 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.

     2.8. Moving Expenses.

               Employee will receive a lump sum payment of $10,000 to cover
          all moving expenses upon relocation.

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



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          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 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



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          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.

     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



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          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 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



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          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.


          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/ Reed Durant
                                       -----------------------------------------
                                       Reed Durant



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