Document:

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                                                                    EXHIBIT 10.2

                    EMPLOYMENT AND CONFIDENTIALITY AGREEMENT

         This Employment and Confidentiality Agreement (the "Agreement") is made
and entered into as of June 1, 2004 (the "Effective Date") by and between Mark
Salter ("Employee") and Westech Capital Corp. ("Westech") and its subsidiaries.
For purposes of this Agreement, references made to "the Company" are to Westech
and its subsidiaries.

         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.

                                                                          Page 1

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         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 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 "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. In the event that Employee is
               terminated for any reason other than cause, Employee shall be
               entitle to three months of severance pay at his/her prevailing
               monthly salary rate.

                  Employee's continuing employment, as stated in Section 2 -
               Duties, Compensation and Benefits, is contingent upon completion
               of a $1,000,000 convertible debt offering by the Company to the
               Employee by July 31, 2004.

                                                                          Page 2

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2. Duties, Compensation and Benefits.

         2.1.     Title.

                  Chief Executive Officer and Director of Sales and Trading.

         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").

         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
               $15,000 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
               Compensation Committee of the Board.

         2.5.     Bonus.

                  Employee shall receive guaranteed quarterly bonuses of
               $17,500, commencing on June 1, 2004. 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.

                                                                          Page 3

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         2.6.     Commissions.

                  Employee shall receive a commission of 50% on all sales
               collected by the Company directly attributable to the employee's
               efforts pursuant to policies and procedures established by the
               Board.

         2.7.     Overrides.

                  Employee shall receive overrides on production attributable
               to government debt, mortgage backed products, asset-backed
               securities and high grade corporate debt. Overrides shall be
               equal to 10% of commission production and 25% of trading
               profitability and shall be payable on a monthly basis. Overrides
               on commission production and trading profitability apply only to
               the aforementioned security types within employee's designated
               trading account. Any trading losses will be netted against
               commissions for calculation of the override.

         2.8.     Stock Options.

                  Employee shall have the right to purchase 62,500 shares of
               the Company's common stock for $9.00 per share. Of these options,
               one third is vested upon Employee immediately, with the remaining
               two thirds vested ratably on the anniversary date of the grant
               for the succeeding two years.

         2.9.     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

                                                                          Page 4

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               as the Company may from time to time put in effect. Expenses
               shall not exceed $10,000 in any calendar year.

         2.10.    Benefits.

                  In addition to salary, commissions, overrides and stock
               options, 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.

         2.11.    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
               twenty days of vacation time in accordance with the policies
               established by the Company.

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

                                                                          Page 5

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               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 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.

                                                                          Page 6

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4. Miscellaneous.

         4.1.     Successors and Assigns.

                  This Agreement shall be bind on and inure 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 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.

                                                                          Page 7

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         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 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.

                                                                          Page 8

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         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.

                                         WESTECH CAPITAL CORP. AND SUBSIDIARIES

                                         By: /s/ KURT J. RECHNER
                                            ------------------------------------
                                         Printed Name: Kurt J. Rechner
                                         Its: President
                                             -----------------------------------

                                         EMPLOYEE

                                         /s/ MARK M. SALTER
                                         ---------------------------------------
                                         Printed Name: Mark M. Salter
                                                      --------------------------

                                                                          Page 9<PAGE>

                                                                    EXHIBIT 10.3

                    EMPLOYMENT AND CONFIDENTIALITY AGREEMENT

         This Employment and Confidentiality Agreement (the "Agreement") is made
and entered into as of June 1, 2004 (the "Effective Date") by and between Kurt
J. Rechner ("Employee") and Westech Capital Corp. ("Westech") and its
subsidiaries. For purposes of this Agreement, references made to "the Company"
are to Westech and its subsidiaries.

         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.

                                                                          Page 1

<PAGE>

         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 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 "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. In the event that Employee is
               terminated for any reason other than for cause, Employee shall be
               entitled to six (6) months severance pay at his prevailing
               monthly salary rate.

2. Duties, Compensation and Benefits.

         2.1.     Title.

                  President and Chief Operating Officer.

                                                                          Page 2

<PAGE>

         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").

         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
               $15,000 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.

         2.5.     Bonus.

                  Employee shall receive a guaranteed quarterly bonus of
               $17,500, commencing on June 1, 2004. Employee is also eligible
               for annual bonus based upon performance and Company
               profitability. If Employee is terminated or terminates his/her
               employment, he/she shall not be entitled to any additional bonus.

                                                                          Page 3

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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.     Benefits.

                  In addition to salary, bonuses, commissions and stock
               options, 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.

         2.8.     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.

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.

                                                                          Page 4

<PAGE>

               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 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.

                                                                          Page 5

<PAGE>

4. Miscellaneous.

         4.1.     Successors and Assigns.

                  This Agreement shall be bind on and inure 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 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

                                                                          Page 6

<PAGE>

               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 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.

                                                                          Page 7

<PAGE>

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

                                         WESTECH CAPITAL CORP.

                                         By: /s/ MARK M. SALTER
                                            ------------------------------------
                                         Printed Name: Mark M. Salter
                                                      --------------------------
                                         Its: CEO
                                             -----------------------------------

                                         EMPLOYEE

                                         /s/ KURT J. RECHNER
                                         ---------------------------------------
                                         Printed Name: Kurt J. Rechner
                                                      --------------------------

                                                                          Page 8

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