Exhibit 10.1

                        AMENDMENT TO EMPLOYMENT AGREEMENT

         AMENDMENT,  dated  as of  August  9,  2000  (the  "Amendment"),  to the
Employment  Agreement,  dated as of February 1, 2000 (the  "Agreement"),  by and
between THCG Ventures, LLC, a Delaware limited liability company (the "Company")
and Evan Marks (the "Executive").

         WHEREAS,  the  Company  and  Executive  desire to amend  the  Agreement
pursuant to Section 11 thereof;

         NOW, THEREFORE,  for good and valuable  consideration,  the adequacy of
which is hereby acknowledged, the parties hereto hereby agree as follows:

         1. The first sentence of Section (b) of the Agreement is hereby amended
to provide as follows:

         "The term of this  Agreement  shall commence on the Effective Date and,
unless earlier terminated in accordance with Paragraph 5 hereof, shall terminate
the day after the option to be awarded to the  Executive  under  Paragraph  3(d)
shall have completely vested (the "Initial Term")."

         2. Section 2(a) of the Agreement is hereby amended to read as follows:

                  "(a) During the Term,  the Executive  shall serve as President
         and Chief  Executive  Officer  of the  Company  and as  Executive  Vice
         President  and  Chief  Operating   Officer  of  the  Company's   parent
         corporation,  THCG, Inc. ("THCG"),  and shall report to managing member
         of the Company  (the  "Managing  Member") and the Board of Directors of
         THCG  and,  in his  capacity  as  Executive  Vice  President  and Chief
         Operating Officer of THCG, to the Chief Executive Officer of THCG.

         3. Section 2(b) of the Agreement is hereby amended to read as follows:

                  "(b)   The   Executive   shall   have   such   authority   and
         responsibility  as is  customary  for such  position  or  positions  in
         businesses   comparable   in  size  and   function,   and  such   other
         responsibilities  as may reasonable be assigned by the Managing Member,
         the Board of  Director  s of THCG or the Chief  Executive  Officer,  as
         applicable."

         4. Section 3 of the Agreement is hereby amended by adding the following
new Paragraph (d) thereto:

                  "(d) The Executive shall receive an option,  to be awarded the
         effective  date of the First  Amendment  hereto,  to  purchase  500,000
         shares of the common  stock of THCG at an  exercise  price equal to the
         fair market  value of such common  stock on the date of the award,  but
         not greater than $5.00 per share.  Such option  shall vest  pro-rata in
         twelve  equal  quarterly  installments,  with the first such  quarterly
         installment  vesting  November  9, 2000.  In the event the  Executive's
         employment  hereunder is terminated prior to the end of the Term by the
         Company  without  Cause  pursuant to Paragraph  5(e) hereof,  of by the

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         Executive for Good Reason  pursuant to Paragraph 5(e) hereof,  then any
         unvested  shares of common stock under the option  provided for in this
         Section 3(d) or under any other option then held by the Executive shall
         accelerate  and  become  fully  exercisable  as of  the  date  of  such
         termination of  employment.  The option shall be granted under the 2000
         THCG,  Inc.  Stock  Incentive  Plan and shall  terminate on November 9,
         2010.  The  option  shall be  included  in the  Company's  registration
         statement on Form S-8."

         5. Except as herein expressly amended,  all terms and provisions of the
Agreement are and shall remain in full force and effect.

         6. This  Amendment  shall be  governed  by the laws of the State of New
York.

         7. This Amendment may be executed in one or more counterparts,  each of
which shall be deemed an original,  but all of which together  shall  constitute
one and the same instrument.


         IN WITNESS WHEREOF,  the parties have executed this Amendment as of the
date first written above.

                                        THCG, INC.

                                        By: /s/ Joseph D. Mark
                                            -----------------------------
                                        Name:  Joseph D. Mark
                                        Title: Co-Chairman of the Board
                                               and Chief Executive Officer

                                        EXECUTIVE

                                        /s/ Evan Marks
                                        ----------------------------------
                                            Evan Marks

                                        THCG VENTURES,LLC

                                        By: /s/ Michael Gegenheimer
                                           -------------------------------
                                        Name:  Michael Gegenheimer
                                        Title: Managing Director