Document:

EXHIBIT 10.2

                              AMENDED AND RESTATED
                              EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "Agreement") is effective as
of the 15th,  day of June 2005,  by and between John R.  McKowen,  an individual
("Employee"),  and Navidec Financial Services Inc., a Colorado  corporation (the
"Company").

WHEREAS, the Company and Employee entered into an Employment Agreement, dated as
of September 9, 2004, relating the terms and conditions of Employee's employment
with the Company (the "Employment Agreement"); and

WHEREAS,  the Company and  Employee  desire to amend and restate the  Employment
Agreement; and

WHEREAS,  the Company has  determined  that it is in the best  interests  of the
Company and its  stockholders  to enter into this  Agreement  setting  forth the
rights, obligations and duties of both the Company and the Employee; and

WHEREAS, the Company wishes to assure itself of the services of the Employee for
the period hereinafter  provided,  and the Employee is willing to be employed by
the  Company for said  period,  upon the terms and  conditions  provided in this
Agreement.

IN  CONSIDERATION  of the mutual  covenants and promises herein  contained,  and
subject to the terms and conditions  herein set forth,  Employee and the Company
hereby agree as follows:

     1. Term of Employment; Duties.
        ---------------------------

     (a) The "Term of  Employment"  shall commence on the effective date of this
Agreement and shall continue for an initial term of two (2) years unless earlier
terminated as provided in this Agreement (the "Initial Term"). After the Initial
Term,  the Term of Employment  will  automatically  renew for successive one (1)
year terms unless and until either party  delivers  notice of termination to the
other within thirty (30) days of the expirations of the then current term.

     (b) During the Term of Employment,  the Company shall employ Employee,  and
Employee shall work for the Company,  as Chief Executive Officer and Chairman of
the  Board.  In  such  capacity,  Employee  shall  perform  such  duties  as are
traditional and customary to that position and as may be reasonably  directed by
the Board of Directors of the Company (the "Board")

     (c)  During the Term of  Employment,  except as set forth  below,  Employee
shall  devote full time and effort to  carrying  out  Employee's  duties for the
Company hereunder,  shall not engage in any activity which would be inconsistent
with such duties or with the objectives of the Business (as defined below),  and
shall diligently perform Employee's  obligations and discharge Employee's duties
hereunder.  Provided,  however, nothing in this Paragraph shall prevent Employee
from  devoting  time to  managing  investments,  participating  with  charitable
organizations  and trade groups or other similar  activities.  The "Business" of
the Company is to investigate,  acquire,  and manage business  opportunities for
the Company.

<PAGE>

     2. Compensation. During the Term of Employment, the following compensation
and benefits shall be payable and provided to Employee:

     (a) Employee shall receive from the Company an annual base salary of
$120,000 ("Base Salary"), which shall be payable in accordance with the standard
practice of the Company in the payment of salaries of its employees. Employee's
Base Salary shall be adjusted in accordance with other executives of the Company
and its Subsidiaries.

     No less frequently  than monthly,  the Base Salary will be reviewed and may
be adjusted upward at the discretion of the Board.

     Employee  shall be  entitled  to all granted  options  including  1,000,000
options in the parent company at an exercise price of $0.05.

     (b) The Company shall provide Employee with such medical,  hospitalization,
insurance,  including  but not limited to  disability  insurance,  pension plan,
profit  sharing  and  employee  benefits  and  such  other  similar   employment
privileges and benefits ("Benefits") as are afforded generally from time to time
to other  executive  employees of the Company,  and four (4) weeks paid vacation
each year.

     (c) The Company shall provide  Employee with a Company car to be leased for
no more than $500 per month at Company expense including insurance.

     (d) Employee shall also be eligible to participate in the Navidec Financial
Services, Inc. Management Incentive Plan.

     (e) At the sole discretion of the Board, Employee shall receive in addition
to his Base Salary  annual  incentive  compensation  (an  "Annual  Bonus") in an
amount  and in a form to be  determined  by the  Board  upon the  advice  of the
Compensation Committee.

     (f) Employee shall be entitled to receive prompt reimbursement for all pre-
approved reasonable  employment-related  expenses incurred by Employee, upon the
receipt by the  Company  of an  accounting  in  accordance  with the  practices,
policies and procedures applicable to other executive employees of the Company.

     3. Early Termination:  Death.  Notwithstanding  anything to the contrary in
Paragraph 1 hereof, if Employee dies during the Term of Employment,  the Term of
Employment  shall  terminate.  Upon  such  termination,   Employee's  estate  or
beneficiaries  shall be entitled to receive Base Salary and Benefits  earned and
accrued but unpaid through the date on which his death occurs. Employee's estate
shall  receive  Employee's  Annual  Bonus (if any),  prorated  for the number of
months  during the fiscal year during  which  Employee  was paid his Base Salary
("Prorated  Annual  Bonus").  The Prorated  Annual Bonus shall be calculated and
paid in the ordinary  course after  completion  of the fiscal year. In addition,
Employee's family ("Family") shall continue to receive health insurance coverage
("Family Health Insurance") during such one (1) year period, to the extent

<PAGE>

permitted by the Company's  health plan  contract(s),  or if not  permitted,  as
purchased  by the  Company at no cost to the Family.  The parties  shall have no
further obligation under this Agreement.

     4. Early Termination: Disability.  Notwithstanding anything to the contrary
in Paragraph 1 hereof,  if Employee  has at any time been  unable,  by virtue of
illness or other physical or mental  disability,  to perform  substantially  and
continuously  the duties  assigned to Employee under this Agreement for a period
of ninety (90) consecutive days or one hundred twenty (120) calendar days out of
any period of one hundred eighty (180) consecutive calendar days during the Term
of  Employment  and the Board has  received a medical  opinion  from a physician
reasonably acceptable to both the Company and the Employee that Employee remains
disabled after said period ("Disability"), then the Company shall have the right
to  terminate  the  Term of  Employment  upon  notice  to  Employee.  Upon  such
termination,  Employee shall be entitled to receive any Base Salary and Benefits
earned  and  accrued  but unpaid  through  the date of  termination,  including,
without limitation,  the additional  disability insurance described in Paragraph
2(b)  hereof.  In  addition,  the  Employee  shall  have the right to  receive a
Prorated  Annual  Bonus to the date of  termination.  Employee  and Family shall
continue  to receive  health  insurance  coverage  during a one (1) year  period
following  termination,  to the extent  permitted by the  Company's  health plan
contract(s),  or if not permitted, as purchased by the Company at no cost to the
Family. The parties shall have no further obligation under this Agreement except
that Employee shall not be relieved of Employee's obligations under Paragraph 8.

     5. Early Termination: Termination by the Company for Cause. Notwithstanding
anything to the contrary in Paragraph 1 hereof,  the Term of  Employment  may be
terminated  by the Company upon notice to Employee for "Cause." The term "Cause"
shall mean Employee's (a) final,  unappealable  conviction of a felony involving
fraud,  dishonesty or moral turpitude;  (b) willful or intentional  violation of
Paragraph 8 of this Agreement  which breach is not cured within thirty (30) days
after  Employee's  receipt of written  notice from the  Company;  (c) willful or
intentional  material  breach of this Agreement which breach is not cured within
thirty (30) days after  Employee's  receipt of written notice from the Company;.
Upon such termination, Employee shall be entitled to receive any Base Salary and
Benefits  earned and accrued but unpaid  through the date of  termination  and a
Prorated Annual Bonus.  The parties shall have no further  obligation under this
Agreement  except that Employee shall not be relieved of Employee's  obligations
under Paragraph 8.

     6. Early  Termination:  Termination  by the Company.  In the event that the
Term of Employment is terminated by the Company without Cause, Employee shall be
entitled to receive (a) Base Salary and  Benefits  earned and accrued but unpaid
through  the date of  termination;  (b) a lump sum cash  payment (or six monthly
payments based on company financial status),  net of any applicable  withholding
taxes,  in an amount  equal to six months  salary at the highest  base salary in
effect  during the twelve  months  prior to  termination  plus the amount of the
prorated  Annual  Bonus  paid to  Employee  for the last  fiscal  year  prior to
termination;  (c)  continuation  of Benefits to the extent allowed under Company
plans for one year from the date of  termination;  and (d)  notwithstanding  any
provision to the contrary in any plan or agreement relating to stock options for
shares of the Company, immediate vesting of all of Employee's non-vested options
for  shares  of the  Company's  capital  stock  ("Accelerated  Option  Vesting")
(collectively,  the  "Severance  Payments").  In the event the  Company  cannot,
pursuant to any of its benefits plans, pay any Benefits under such plan,

<PAGE>

Employee shall be entitled to a lump sum payment equal to the after-tax value of
such  Benefits.  The  parties  shall  have  no  further  obligation  under  this
Agreement.  Employee  acknowledges and agrees that payment of Severance Payments
pursuant to this Agreement shall be conditioned upon the Company's  receipt of a
release,  in form  satisfactory to the Company,  of all claims that Employee may
have against the Company, its directors,  officers,  employees and/or agents and
the Employee's satisfaction of the requirements of Paragraph 8 below.

     7. Early Termination: Resignation by the Employee.
        -----------------------------------------------

     (a) For Good Reason.

          (i)  Notwithstanding  anything to the  contrary in Paragraph 1 hereof,
     the Term of  Employment  may be  terminated  by Employee upon notice to the
     Company for "Good  Reason." For purposes of this  Agreement,  "Good Reason"
     includes the  occurrence  of any of the  following  circumstances,  without
     Employee's  express  consent:  (i) a material  adverse  change or  material
     diminution in  Employee's  position,  duties,  reporting  relationships  or
     responsibilities  (as  reasonably  determined by Employee in his good faith
     discretion);  (ii) a change in the required  location of the performance of
     Employee's  duties;  (iii) a reduction in either  Employee's annual rate of
     Base Salary or level of participation in any  non-discretionary  bonus plan
     for which he is eligible  under  Paragraph  2(c);  (iv) an  elimination  or
     reduction  of  Employee's  participation  in  any  benefit  plan  generally
     available  to  executive  employees  of the  Company,  unless  the  Company
     continues to offer Employee  benefits  substantially  similar to those made
     available  by such plan;  or (v) a breach of this  Agreement by the Company
     which is not cured within sixty (60) days of written notice to the Company.
     Employee's continued employment will not constitute consent to, or a waiver
     of rights  with  respect to, any  circumstance  constituting  Good  Reason;
     provided,  however,  that Employee will be deemed to have waived his rights
     pursuant to the circumstances constituting Good Reason set forth in clauses
     (i) through  (v) of the  preceding  sentence if he has not  provided to the
     Company a notice of termination  (described  below) within ninety (90) days
     following his knowledge of the circumstances constituting Good Reason.

          (ii) Upon such termination for Good Reason, Employee shall be entitled
     to receive the  Severance  Payments  as  described  in  Paragraph 6 of this
     Agreement. In the event the Company cannot, pursuant to any of its benefits
     plans,  pay any Benefits  under such plan,  Employee shall be entitled to a
     lump sum payment equal to the after-tax value of such benefits. The parties
     shall have no further  obligation under this Agreement except that Employee
     shall not be relieved of Employee's obligations under Paragraph 8.

          (iii) Any  termination  of  Employee's  employment by Employee must be
     communicated  by written notice of termination to the Company in accordance
     with  Paragraph  20 which  notice must set forth in  reasonable  detail the
     facts and  circumstances  claimed  to  provide a basis for  termination  of
     Employee's employment under this Paragraph 7.

     (b) Other than for Good Reason. In the event that the Term of Employment is
terminated by Employee other than as set forth in Paragraph 7(a) above, Employee
shall be entitled to receive  Base  Salary and  Benefits  earned and accrued but
unpaid  through  the date of  termination.  The  parties  shall  have no further
obligation  under this  Agreement  except that Employee shall not be relieved of
Employee's obligations under Paragraph 8.

<PAGE>

     8. Confidentiality and Non-Competition.
        ------------------------------------

     (a) Employee  acknowledges  that  Employee has had or shall have  unlimited
access to  Confidential  Information  (as defined  below) and  business  methods
relating to the Company's  Business and operations and that the Company would be
injured and the  goodwill of the  Company  would be damaged if Employee  were to
breach  the  covenants  set  forth  in  this   Paragraph  8.  Employee   further
acknowledges  that the covenants set forth in this Paragraph 8 are reasonable in
scope and  duration.  "Confidential  Information"  shall  include  (i)  specific
business strategies relating to the Company's Business, as its Business is being
conducted  at  the  time  of  any  alleged   breach  of  this  Section  8;  (ii)
methodologies  of pricing used by the Business;  (iii) customer lists;  and (iv)
all other information reasonably deemed by the Company to be confidential and/or
proprietary  in nature  that  Employee  knows,  or should  reasonably  know,  is
confidential and/or proprietary.

     (b) During the Term of Employment and thereafter, except as may be required
by law or necessary in  connection  with any dealings  with any public agency or
authority, Employee shall not disclose,  disseminate,  divulge, discuss, copy or
otherwise use or suffer to be used, in competition  with, or in a manner harmful
to  the  interests  of,  the  Company,  any  written  Confidential   Information
respecting any material aspect of the Company's Business,  excepting only use of
such data or  information  as is (i) at the time  disclosed,  through  no act or
failure  to act on the part of  Employee,  generally  known or  available;  (ii)
furnished  to  Employee  by a third  party as a  matter  of  right  and  without
restriction  on  disclosure;  or (iii)  required to be disclosed by court order.
Upon termination of the Term of Employment, Employee shall return to the Company
or, at the  Company's  direction  destroy,  any and all materials in tangible or
electronic form containing confidential information belonging to the Company.

     (c)  During  the  Term of  Employment  and  for a  period  of one (1)  year
thereafter  (except in the event this  Agreement  is  terminated  by the Company
pursuant to Paragraph 6 or this Agreement is terminated by the Employee pursuant
to Paragraph  7(a) and  Employee  has waived his right to collect the  Severance
Payments),  Employee shall not in North America, or in any international  market
in which the Company is, as of the date of termination,  doing business, conduct
the Business, directly or indirectly, whether as an individual on Employee's own
account,  or as a  shareholder,  partner,  joint  venturer,  director,  officer,
employee, consultant, creditor and/or agent, of any person, firm or organization
or otherwise:

<PAGE>

          (i) own, manage,  control or participate in the ownership,  management
     or control  of, or be  employed or engaged by or  otherwise  affiliated  or
     associated as a consultant,  independent  contractor or otherwise with, any
     other corporation, partnership,  proprietorship, firm, association or other
     business entity or otherwise  engage in any business that is engaged in, or
     otherwise directly competes with, the Business of the Company or any of the
     Company's  Subsidiaries (as defined herein),  as such Business is conducted
     on the date Employee ceases to be employed by the Company, in any capacity,
     including as a consultant;

          (ii)  solicit  any  person  who,  at the  time of  termination,  is an
     employee or officer of the Company or any Subsidiary,  or a customer of the
     Business of the Company or any Subsidiary (in its capacity as a customer of
     the Business) to terminate his, her or its relationship with the Company or
     the Business (in the case of a customer);

          (iii)  solicit any supplier of the Company or any  Subsidiary  (in its
     capacity as a supplier of the Business),  to refuse to do business with the
     Company or any  Subsidiary,  or to do business on any less favorable  terms
     than the Supplier's  previous terms with the Company or its Subsidiary,  as
     the case may be; or

          (iv) engage in disparagement (which shall not include the providing of
     accurate  information  without  invidious  intent)  of the  Company  or any
     Subsidiary by any means to any person.

     (d)  Notwithstanding  anything  herein to the contrary,  Employee  shall be
permitted  to own  shares of any class of  capital  stock of any  publicly  held
corporation  so long as the aggregate  holdings of Employee  represent less than
two percent (2%) of the outstanding shares of such class of capital stock.

     9. Change in Control.
        ------------------

     (a) If there is a Change in Control (as defined  below),  Employee shall be
entitled to Accelerated Option Vesting.

     (b) For purposes of this Agreement, a "Change in Control" will occur

          (i) upon the sale or other  disposition  to a person,  entity or group
     (as defined for purposes of Section 13(d) of the Securities Exchange Act of
     1934,  as amended)  (each,  a "Person") of 50% or more of the  consolidated
     assets of the  Company  taken as a whole,  (ii) if any Person  becomes  the
     beneficial  owner of, or has the right to  acquire  (by  contract,  option,
     warrant, conversion of convertible securities or otherwise), 50% or more of
     the outstanding  equity  securities of the Company entitled to vote for the
     election  of  directors;  and  (iii)  upon  the  merger,  consolidation  or
     reorganization with another corporation. Notwithstanding anything herein to
     the contrary,  a "Change in Control" does not occur upon an initial  public
     offering  of the  Company's  equity  securities  pursuant  to an  effective
     registration  statement  under the Securities  Act of 1933, as amended,  or
     upon a transaction,  merger,  consolidation or  reorganization in which the
     Company  exchanges or offers to exchange newly issued or treasury shares in
     an amount less than 50% of the then  outstanding  equity  securities of the
     Company entitled to vote for the election of directors,  for 51% or more of
     the outstanding  equity securities  entitled to vote for the election of at
     least  the  majority  of the  directors  of a  corporation  (the  "Acquired
     Corporation"),  or for  all or  substantially  all  of  the  assets  of the
     Acquired Corporation.

     (c) If all or any  portion of the amount  payable  to  Employee  under this
Agreement, either alone or together with other amounts that Employee is entitled
to receive in connection with a Change in Control  constitutes "excess parachute
payments,"  within the meaning of Section 280G of the  Internal  Revenue Code of
1986, as amended (the "Code"), or successor  provision,  that are subject to the
excise  tax  imposed  by  Section  4999  of the  Code  (or  any  similar  tax or
assessment),  the  amounts  payable to  Employee  under this  Agreement  will be
increased  to the  extent  necessary  to place  Employee  in the same  after-tax
position as Employee would have been in had no such excise tax or assessment

<PAGE>

(including  any interest or penalties  thereon) been imposed on any such payment
paid or payable to  Employee  under this  Agreement  or any other  payment  that
Employee may receive as a result of such Change in Control. The determination of
the amount of any such tax or assessment and the resulting amount of incremental
payment  required  by this  Paragraph  9(c)  will  be  made  by the  independent
accounting  firm  employed by the Company  immediately  prior to the  applicable
Change in Control,  within  thirty (30)  calendar  days after the payment of the
amount payable to Employee under this Agreement  which  triggered an incremental
payment under this  Paragraph  9(c), and such  incremental  payment will be made
within five (5) business days after the determination has been made.

     10. Rights and Remedies Upon Breach.
         --------------------------------

     (a) Employee  expressly  agrees and understands  that the remedy at law for
any breach by Employee of  Paragraph  8 may be  inadequate  and that the damages
flowing  from such breach may not be readily  susceptible  to being  measured in
monetary  terms.  Accordingly,  it is  acknowledged  that upon adequate proof of
Employee's  violation of  Paragraph 8, the Company may be entitled,  among other
remedies,  to  injunctive  relief and may obtain a temporary  restraining  order
restraining  any threatened or further  breach.  Nothing in this Paragraph 10(a)
shall be deemed  to limit the  Company's  remedies  at law or in equity  for any
breach by  Employee  of any of the  provisions  of this  Agreement  which may be
pursued or availed of by the Company.

     (b) In the event any court of competent  jurisdiction  determines  that the
specified  time  period  or  geographical  area  set  forth  in  Paragraph  8 is
unreasonable,  arbitrary or against public policy,  then a lesser time period or
geographical   area  that  is  determined   by  the  court  to  be   reasonable,
non-arbitrary and not against public policy may be enforced.

     (c) In the event the Company has  asserted  in a formal  legal  action that
Employee is  violating  any legally  enforceable  provision of Paragraph 8 as to
which there is a specific time period during which  Employee is prohibited  from
taking certain  actions or engaging in certain  activities,  then, in such event
the  violation  shall toll the  running of the time  period from the date of the
assertion until the violation ceases.

     11.  Expenses.  Employee is  authorized  to incur  reasonable  expenses for
carrying out and promoting the business of the Company,  including  expenses for
entertainment,  travel  and  similar  items,  but  only in  accordance  with the
policies of the Company, as from time to time adopted.

     12. Withholding Taxes. All payments to Employee or his beneficiary shall be
subject to withholding on account of federal,  state and local taxes as required
by law. If any payment  hereunder is  insufficient to provide the amount of such
taxes  required to be  withheld,  the Company may  withhold  such taxes from any
other  payment due Employee or his  beneficiary.  In the event all cash payments
due Employee are insufficient to provide the required amount of such withholding
taxes,  Employee or his  beneficiary,  within five (5) days after written notice
from the Company,  shall pay to the Company the amount of such withholding taxes
in excess of all cash payments due Employee or his beneficiary.

<PAGE>

     13. Assignability; Binding Nature. This Agreement shall be binding upon and
inure to the benefit of the parties and their respective  successors,  heirs (in
the case of Employee) and assigns. No rights or obligations of the Company under
this  Agreement  may be  assigned  or  transferred  by the  Company,  except  in
connection with a Change in Control where the assignee or transferee  agrees, in
writing,  to assume  such  rights  and  obligations  of the  Company  under this
Agreement.  No  obligations  of Employee under this Agreement may be assigned or
transferred by Employee.

     14. Entire Agreement.  Except to the extent otherwise provided herein, this
Agreement  contains the entire  understanding  and agreement between the parties
concerning  the  subject  matter  hereof and  supersedes  any prior  agreements,
whether  written or oral,  between the  parties  concerning  the subject  matter
hereof.

     15.  Amendment or Waiver.  No provision  in this  Agreement  may be amended
unless such amendment is agreed to in writing and signed by both Employee and an
authorized  officer of the  Company.  No waiver by either party of any breach by
the other party of any condition or provision  contained in this Agreement to be
performed  by such  other  party  shall  be  deemed  a waiver  of a  similar  or
dissimilar  condition or provision at the same or any prior or subsequent  time.
Any  waiver  must be in  writing  and signed by the  Employee  or an  authorized
officer of the Company, as the case may be.

     16.  Severability.  In the event  that any  provision  or  portion  of this
Agreement shall be determined to be invalid or unenforceable  for any reason, in
whole or in part, the remaining provisions of this Agreement shall be unaffected
thereby  and  shall  remain  in full  force and  effect  to the  fullest  extent
permitted by law.

     17.  Survivorship.  The  respective  rights and  obligations of the parties
hereunder  shall  survive any  termination  of  Employee's  employment  with the
Company to the extent necessary to the intended  preservation of such rights and
obligations as described in this Agreement.

     18.  Governing Law. This  Agreement  shall be governed by and construed and
interpreted  in  accordance  with the laws of the  State  of  Colorado,  without
reference to principles of conflict of laws.

     19.  Arbitration.   With  the  sole  exception  of  the  injunctive  relief
contemplated  by Paragraph  10(a),  any  controversy or claim arising out of any
aspect of the  relationship  of the parties  hereto,  will be settled by binding
arbitration  in Denver,  Colorado by a panel of three  arbitrators in accordance
with the Commercial  Arbitration Rules of the American Arbitration  Association.
Judgment  upon  any  arbitration  award  may  be  entered  in any  court  having
jurisdiction  thereof and the parties consent to the  jurisdiction of the courts
of the State of Colorado for this purpose.

     20. Notices. Any notice given to either party shall be in writing and shall
be  effective  when  given,  and shall in any  event be deemed to be given  upon
receipt,  or if earlier,  (a) five (5) days after  deposit with the U.S.  Postal
Service or other  applicable  postal service,  if delivered by first class mail,
postage prepaid,  (b) upon delivery,  if delivered by hand, (c) one (1) business
day after the business day of deposit with Federal Express or similar  overnight
courier, freight prepaid or (d) one (1) business day after the business day of

<PAGE>

facsimile  transmission,  if delivered by  facsimile  transmission  with copy by
first class mail,  postage  prepaid,  and shall be duly  addressed  to the party
concerned  at the address  indicated  below or to such  changed  address as such
party may subsequently give such notice of:

                             If to the Company, to:
                    6399 S. Fiddlers Green Circle, Suite 300
                           Greenwood Village, CO 80111

                               If to Employee, to:
                             ======================

     21.  Headings.  The headings of the Paragraphs  contained in this Agreement
are for  convenience  only and  shall not be deemed  to  control  or affect  the
meaning or construction of any provision of this Agreement.

     22. Counterparts;  Facsimile Signatures.  This Agreement may be executed in
one or more  counterparts,  each of which shall be deemed an original but all of
which together will constitute one and the same  instrument.  This Agreement may
be executed by  facsimile  signature  and the  facsimile  signature of any party
shall constitute and original in all respects.

IN WITNESS WHEREOF, the parties hereto have executed or caused to be executed
this instrument on the date first above written.

================================

/s/  John R. Mckowen
- ---------------------------------
John R. Mckowen

================================

NAVIDEC FINANCIAL SERVICES, INC.

By: /s/  J. Ralph Armijo
   -----------------------------

Its Director
    ----------------------------EXHIBIT 10.3

                              AMENDED AND RESTATED
                              EMPLOYMENT AGREEMENT

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "Agreement") is effective as
of the 15th day of June 2005,  by and  between  Robert  Grizzle,  an  individual
("Employee"),  and Navidec Financial Services Inc., a Colorado  corporation (the
"Company").

WHEREAS, the Company and Employee entered into an Employment Agreement, dated as
of September 9, 2004, relating the terms and conditions of Employee's employment
with the Company (the "Employment Agreement"); and

WHEREAS,  the Company and  Employee  desire to amend and restate the  Employment
Agreement; and

WHEREAS,  the Company has  determined  that it is in the best  interests  of the
Company and its  stockholders  to enter into this  Agreement  setting  forth the
rights, obligations and duties of both the Company and the Employee; and

WHEREAS, the Company wishes to assure itself of the services of the Employee for
the period hereinafter  provided,  and the Employee is willing to be employed by
the  Company for said  period,  upon the terms and  conditions  provided in this
Agreement.

IN  CONSIDERATION  of the mutual  covenants and promises herein  contained,  and
subject to the terms and conditions  herein set forth,  Employee and the Company
hereby agree as follows:

     1. Term of Employment; Duties.
        ---------------------------

     (a) The "Term of  Employment"  shall commence on the effective date of this
Agreement and shall continue for an initial term of two (2) years unless earlier
terminated as provided in this Agreement (the "Initial Term"). After the Initial
Term,  the Term of Employment  will  automatically  renew for successive one (1)
year terms unless and until either party  delivers  notice of termination to the
other within thirty (30) days of the expirations of the then current term.

     (b) During the Term of Employment,  the Company shall employ Employee,  and
Employee shall work for the Company,  as President,  Chief Operating Officer and
Corporate Secretary. In such capacity, Employee shall perform such duties as are
traditional and customary to that position and as may be reasonably  directed by
the Board of Directors of the Company (the "Board")

     (c)  During the Term of  Employment,  except as set forth  below,  Employee
shall  devote full time and effort to  carrying  out  Employee's  duties for the
Company hereunder,  shall not engage in any activity which would be inconsistent
with such duties or with the objectives of the Business (as defined below),  and
shall diligently perform Employee's obligations and discharge Employee's duties

<PAGE>

hereunder;  provided,  however, nothing in this Paragraph shall prevent Employee
from  devoting  time to  managing  investments,  participating  with  charitable
organizations  and trade groups or other similar  activities.  The "Business" of
the Company is to investigate,  acquire,  and manage business  opportunities for
the Company.

     2. Compensation.  During the Term of Employment, the following compensation
and benefits shall be payable and provided to Employee:

     (a)  Employee  shall  receive  from the  Company an annual  base  salary of
$90,000 ("Base Salary"),  which shall be payable in accordance with the standard
practice of the Company in the payment of salaries of its employees.  Employee's
Base Salary shall be adjusted in accordance with other executives of the Company
and its Subsidiaries.

     No less frequently  than monthly,  the Base Salary will be reviewed and may
be adjusted upward at the discretion of the Board.

     Employee shall be entitled to all granted  options,  including an option to
purchase  200,000  shares of the Company's  common stock at an exercise price of
$0.05 per share that shall be fully vested and  exercisable  at the time of this
grant  pursuant to the terms and  conditions of the Company's  2005 Stock Option
Plan.

     (b) The Company shall provide Employee with such medical,  hospitalization,
insurance,  including  but not limited to  disability  insurance,  pension plan,
profit  sharing  and  employee  benefits  and  such  other  similar   employment
privileges and benefits ("Benefits") as are afforded generally from time to time
to other  executive  employees of the Company,  and four (4) weeks paid vacation
each year.

     (c) The Company shall provide  Employee with a Company car to be leased for
no more than $375 per month at Company expense including insurance.

     (d) Employee shall also be eligible to participate in the Navidec Financial
Services, Inc. Management Incentive Plan.

     (e) At the sole discretion of the Board, Employee shall receive in addition
to his Base Salary  annual  incentive  compensation  (an  "Annual  Bonus") in an
amount  and in a form to be  determined  by the  Board  upon the  advice  of the
Compensation Committee.

     (f) Employee shall be entitled to receive prompt reimbursement for all pre-
approved reasonable  employment-related  expenses incurred by Employee, upon the
receipt by the  Company  of an  accounting  in  accordance  with the  practices,
policies and procedures applicable to other executive employees of the Company.

     3. Early Termination:  Death.  Notwithstanding  anything to the contrary in
Paragraph 1 hereof, if Employee dies during the Term of Employment,  the Term of
Employment shall terminate. Upon such termination, Employee's estate or

<PAGE>

beneficiaries  shall be entitled to receive any Base Salary and Benefits  earned
and accrued but unpaid  through the date on which his death  occurs.  Employee's
estate shall receive  Employee's Annual Bonus (if any),  prorated for the number
of months during the fiscal year during which  Employee was paid his Base Salary
("Prorated  Annual  Bonus").  The Prorated  Annual Bonus shall be calculated and
paid in the ordinary  course after  completion  of the fiscal year. In addition,
Employee's family ("Family") shall continue to receive health insurance coverage
("Family  Health  Insurance")  during  such one (1) year  period,  to the extent
permitted by the Company's  health plan  contract(s),  or if not  permitted,  as
purchased  by the  Company at no cost to the Family.  The parties  shall have no
further obligation under this Agreement.

     4. Early Termination: Disability.  Notwithstanding anything to the contrary
in Paragraph 1 hereof,  if Employee  has at any time been  unable,  by virtue of
illness or other physical or mental  disability,  to perform  substantially  and
continuously  the duties  assigned to Employee under this Agreement for a period
of ninety (90) consecutive days or one hundred twenty (120) calendar days out of
any period of one hundred eighty (180) consecutive calendar days during the Term
of  Employment  and the Board has  received a medical  opinion  from a physician
reasonably acceptable to both the Company and the Employee that Employee remains
disabled after said period ("Disability"), then the Company shall have the right
to  terminate  the  Term of  Employment  upon  notice  to  Employee.  Upon  such
termination,  Employee shall be entitled to receive any Base Salary and Benefits
earned  and  accrued  but unpaid  through  the date of  termination,  including,
without limitation,  the additional  disability insurance described in Paragraph
2(b)  hereof.  In  addition,  the  Employee  shall  have the right to  receive a
Prorated  Annual  Bonus to the date of  termination.  Employee  and Family shall
continue  to receive  health  insurance  coverage  during a one (1) year  period
following  the date of  termination,  to the extent  permitted by the  Company's
health plan contract(s),  or if not permitted, as purchased by the Company at no
cost to the Family.  The  parties  shall have no further  obligation  under this
Agreement  except that Employee shall not be relieved of Employee's  obligations
under Paragraph 8.

     5. Early Termination: Termination by the Company for Cause. Notwithstanding
anything to the contrary in Paragraph 1 hereof,  the Term of  Employment  may be
terminated  by the Company upon notice to Employee for "Cause." The term "Cause"
shall mean Employee's:  (a) final, unappealable conviction of a felony involving
fraud,  dishonesty or moral turpitude;  (b) willful or intentional  violation of
Paragraph 8 of this Agreement  which breach is not cured within thirty (30) days
after  Employee's  receipt of written  notice from the  Company;  (c) willful or
intentional  material  breach of this Agreement which breach is not cured within
thirty (30) days after  Employee's  receipt of written  notice from the Company.
Upon such termination, Employee shall be entitled to receive any Base Salary and
Benefits  earned and accrued but unpaid  through the date of  termination  and a
Prorated  Annual  Bonus to the date of  termination.  The parties  shall have no
further  obligation  under this  Agreement  except  that  Employee  shall not be
relieved of Employee's obligations under Paragraph 8.

<PAGE>

     6. Early  Termination:  Termination by the Company  without  Cause.  In the
event that the Term of Employment is  terminated by the Company  without  Cause,
Employee shall be entitled to receive:  (a) any Base Salary and Benefits  earned
and accrued  but unpaid  through  the date of  termination;  (b) a lump sum cash
payment (or six monthly  payments  based on the  Company's  financial  status as
determined by the Board), net of any applicable  withholding taxes, in an amount
equal to six  months  salary at the  highest  base  salary in effect  during the
twelve  months prior to  termination  plus the Annual Bonus paid to Employee for
the last fiscal year prior to termination  prorated to the date of  termination;
(c) continuation of Benefits to the extent allowed under the Company's plans for
one (1) year from the date of termination; and (d) notwithstanding any provision
to the contrary in any plan or agreement relating to stock options for shares of
the  Company,  immediate  vesting of all of  Employee's  non-vested  options for
shares  of  the  Company's   capital  stock   ("Accelerated   Option   Vesting")
(collectively,  the  "Severance  Payments").  In the event the  Company  cannot,
pursuant  to any of its  benefits  plans,  pay any  Benefits  under  such  plan,
Employee shall be entitled to a lump sum payment equal to the after-tax value of
such  Benefits.  The  parties  shall  have  no  further  obligation  under  this
Agreement.  Employee  acknowledges and agrees that payment of Severance Payments
pursuant to this Agreement shall be conditioned upon the Company's  receipt of a
release,  in form  satisfactory to the Company,  of all claims that Employee may
have against the Company, its directors,  officers,  employees and/or agents and
the Employee's satisfaction of the requirements of Paragraph 8 below.

     7. Early Termination: Resignation by the Employee.
        -----------------------------------------------

     (a) For Good Reason.

          (i)  Notwithstanding  anything to the  contrary in Paragraph 1 hereof,
     the Term of  Employment  may be  terminated  by Employee upon notice to the
     Company for "Good  Reason." For purposes of this  Agreement,  "Good Reason"
     includes the  occurrence  of any of the  following  circumstances,  without
     Employee's  express  consent:  (i) a material  adverse  change or  material
     diminution in  Employee's  position,  duties,  reporting  relationships  or
     responsibilities  (as  reasonably  determined by Employee in his good faith
     discretion);  (ii) a change in the required  location of the performance of
     Employee's  duties;  (iii) a reduction in either  Employee's annual rate of
     Base Salary or level of participation in any  non-discretionary  bonus plan
     for which he is eligible  under  Paragraph  2(c);  (iv) an  elimination  or
     reduction  of  Employee's  participation  in  any  benefit  plan  generally
     available  to  executive  employees  of the  Company,  unless  the  Company
     continues to offer Employee  benefits  substantially  similar to those made
     available  by such plan;  or (v) a breach of this  Agreement by the Company
     which is not cured within sixty (60) days of written notice to the Company.
     Employee's continued employment will not constitute consent to, or a waiver
     of rights  with  respect to, any  circumstance  constituting  Good  Reason;
     provided,  however,  that Employee will be deemed to have waived his rights
     pursuant to the circumstances constituting Good Reason set forth in clauses
     (i) through  (v) of the  preceding  sentence if he has not  provided to the
     Company a notice of termination  (described  below) within ninety (90) days
     following his knowledge of the circumstances constituting Good Reason.

<PAGE>

          (ii) Upon such termination for Good Reason, Employee shall be entitled
     to receive the  Severance  Payments  as  described  in  Paragraph 6 of this
     Agreement. In the event the Company cannot, pursuant to any of its benefits
     plans,  pay any Benefits  under such plan,  Employee shall be entitled to a
     lump sum payment equal to the after-tax value of such benefits. The parties
     shall have no further  obligation under this Agreement except that Employee
     shall not be relieved of Employee's obligations under Paragraph 8.

          (iii) Any  termination  of  Employee's  employment by Employee must be
     communicated  by written notice of termination to the Company in accordance
     with  Paragraph  20 which  notice must set forth in  reasonable  detail the
     facts and  circumstances  claimed  to  provide a basis for  termination  of
     Employee's employment under this Paragraph 7.

     (b) Other than for Good Reason. In the event that the Term of Employment is
terminated by Employee other than as set forth in Paragraph 7(a) above, Employee
shall be entitled to receive any Base Salary and Benefits earned and accrued but
unpaid  through  the date of  termination.  The  parties  shall  have no further
obligation  under this  Agreement  except that Employee shall not be relieved of
Employee's obligations under Paragraph 8.

     8. Confidentiality and Non-Competition.
        ------------------------------------

     (a) Employee  acknowledges  that  Employee has had or shall have  unlimited
access to  Confidential  Information  (as defined  below) and  business  methods
relating to the Company's  Business and operations and that the Company would be
injured and the  goodwill of the  Company  would be damaged if Employee  were to
breach  the  covenants  set  forth  in  this   Paragraph  8.  Employee   further
acknowledges  that the covenants set forth in this Paragraph 8 are reasonable in
scope  and  duration.   "Confidential   Information"   shall  include,   without
limitation: (i) specific business strategies relating to the Company's Business,
as its  Business is being  conducted  at the time of any alleged  breach of this
Paragraph 8; (ii) methodologies of pricing used by the Business;  (iii) customer
lists;  and (iv) all other  information  reasonably  deemed by the Company to be
confidential  and/or  proprietary  in  nature  that  Employee  knows,  or should
reasonably know, is confidential and/or proprietary.

     (b) During the Term of Employment and thereafter, except as may be required
by law or necessary in  connection  with any dealings  with any public agency or
authority, Employee shall not disclose,  disseminate,  divulge, discuss, copy or
otherwise use or suffer to be used, in competition  with, or in a manner harmful
to  the  interests  of,  the  Company,  any  written  Confidential   Information
respecting any material aspect of the Company's Business,  excepting only use of
such data or  information  as is: (i) at the time  disclosed,  through no act or
failure to act on the part of  Employee,  generally  known or  available  to the
public;  (ii)  furnished  to  Employee by a third party as a matter of right and
without  restriction on  disclosure;  or (iii) required to be disclosed by court
order. Upon termination of the Term of Employment,  Employee shall return to the
Company  or, at the  Company's  direction,  destroy,  any and all  materials  in
tangible or electronic form containing Confidential Information belonging to the
Company.

<PAGE>

     (c)  During  the  Term of  Employment  and for a  period  of one (1)  years
thereafter  (except in the event this  Agreement  is  terminated  by the Company
pursuant to Paragraph 6 or this Agreement is terminated by the Employee pursuant
to Paragraph  7(a) and  Employee  has waived his right to collect the  Severance
Payments),  Employee shall not in North America, or in any international  market
in which the Company is, as of the date of termination, doing business, directly
or  indirectly,  whether as an  individual on  Employee's  own account,  or as a
shareholder,  partner, joint venturer, director, officer, employee,  consultant,
creditor and/or agent, of any person, firm or organization or otherwise:

          (i) own, manage,  control or participate in the ownership,  management
     or control  of, or be  employed or engaged by or  otherwise  affiliated  or
     associated as a consultant,  independent  contractor or otherwise with, any
     other corporation, partnership,  proprietorship, firm, association or other
     business entity or otherwise  engage in any business that is engaged in, or
     otherwise directly competes with, the Business of the Company or any of the
     Company's  Subsidiaries (as defined herein),  as such Business is conducted
     on the date Employee ceases to be employed by the Company, in any capacity,
     including as a consultant;

          (ii)  solicit  any  person  who,  at the  time of  termination,  is an
     employee or officer of the Company or any Subsidiary,  or a customer of the
     Business of the Company or any Subsidiary (in its capacity as a customer of
     the Business) to terminate his, her or its relationship with the Company or
     the Business (in the case of a customer);

          (iii)  solicit any supplier of the Company or any  Subsidiary  (in its
     capacity as a supplier of the Business),  to refuse to do business with the
     Company or any  Subsidiary,  or to do business on any less favorable  terms
     than the Supplier's  previous terms with the Company or its Subsidiary,  as
     the case may be; or

          (iv) engage in disparagement (which shall not include the providing of
     accurate  information  without  invidious  intent)  of the  Company  or any
     Subsidiary by any means to any person.

     (d)  Notwithstanding  anything  herein to the contrary,  Employee  shall be
permitted  to own  shares of any class of  capital  stock of any  publicly  held
corporation  so long as the aggregate  holdings of Employee  represent less than
two percent (2%) of the outstanding shares of such class of capital stock.

     9. Change in Control.
        ------------------

     (a) If there is a Change in Control (as defined  below),  Employee shall be
entitled to Accelerated Option Vesting.

<PAGE>

     (b) For purposes of this Agreement,  a "Change in Control" will occur:  (i)
upon the sale or other disposition to a person,  entity or group (as defined for
purposes of Section  13(d) of the  Securities  Exchange Act of 1934, as amended)
(each,  a  "Person")  of 50% or more of the  consolidated  assets of the Company
taken as a whole; (ii) if any Person becomes the beneficial owner of, or has the
right to acquire  (by  contract,  option,  warrant,  conversion  of  convertible
securities or otherwise),  50% or more of the outstanding  equity  securities of
the Company  entitled to vote for the election of directors;  and (iii) upon the
merger,    consolidation   or   reorganization    with   another    corporation.
Notwithstanding  anything herein to the contrary, a "Change in Control" does not
occur  upon an  initial  public  offering  of the  Company's  equity  securities
pursuant to an effective  registration  statement  under the  Securities  Act of
1933, as amended, or upon a transaction, merger, consolidation or reorganization
in which the Company  exchanges  or offers to exchange  newly issued or treasury
shares in an amount less than 50% of the then outstanding  equity  securities of
the Company  entitled to vote for the election of directors,  for 51% or more of
the outstanding equity securities  entitled to vote for the election of at least
the majority of the directors of a corporation (the "Acquired Corporation"),  or
for all or substantially all of the assets of the Acquired Corporation.

     (c) If all or any  portion of the amount  payable  to  Employee  under this
Agreement, either alone or together with other amounts that Employee is entitled
to receive in connection with a Change in Control  constitutes "excess parachute
payments,"  within the meaning of Section 280G of the  Internal  Revenue Code of
1986, as amended (the "Code"), or successor  provision,  that are subject to the
excise  tax  imposed  by  Section  4999  of the  Code  (or  any  similar  tax or
assessment),  the  amounts  payable to  Employee  under this  Agreement  will be
increased  to the  extent  necessary  to place  Employee  in the same  after-tax
position  as Employee  would have been in had no such  excise tax or  assessment
(including  any interest or penalties  thereon) been imposed on any such payment
paid or payable to  Employee  under this  Agreement  or any other  payment  that
Employee may receive as a result of such Change in Control. The determination of
the amount of any such tax or assessment and the resulting amount of incremental
payment  required  by this  Paragraph  9(c)  will  be  made  by the  independent
accounting  firm  employed by the Company  immediately  prior to the  applicable
Change in Control,  within  thirty (30)  calendar  days after the payment of the
amount payable to Employee under this Agreement  which  triggered an incremental
payment under this  Paragraph  9(c), and such  incremental  payment will be made
within five (5) business days after the determination has been made.

     10. Rights and Remedies Upon Breach.
         --------------------------------

     (a) Employee  expressly  agrees and understands  that the remedy at law for
any breach by Employee of  Paragraph  8 may be  inadequate  and that the damages
flowing  from such breach may not be readily  susceptible  to being  measured in
monetary  terms.  Accordingly,  it is  acknowledged  that upon adequate proof of
Employee's  violation of  Paragraph 8, the Company may be entitled,  among other
remedies,  to  injunctive  relief and may obtain a temporary  restraining  order
restraining  any threatened or further  breach.  Nothing in this Paragraph 10(a)
shall be deemed  to limit the  Company's  remedies  at law or in equity  for any
breach by  Employee  of any of the  provisions  of this  Agreement  which may be
pursued or availed of by the Company.

<PAGE>

     (b) In the event any court of competent  jurisdiction  determines  that the
specified  time  period  or  geographical  area  set  forth  in  Paragraph  8 is
unreasonable,  arbitrary or against public policy,  then a lesser time period or
geographical   area  that  is  determined   by  the  court  to  be   reasonable,
non-arbitrary and not against public policy may be enforced.

     (c) In the event the Company has  asserted  in a formal  legal  action that
Employee is  violating  any legally  enforceable  provision of Paragraph 8 as to
which there is a specific time period during which  Employee is prohibited  from
taking certain  actions or engaging in certain  activities,  then, in such event
the  violation  shall toll the  running of the time  period from the date of the
assertion until the violation ceases.

     11.  Expenses.  Employee is  authorized  to incur  reasonable  expenses for
carrying out and promoting the business of the Company,  including  expenses for
entertainment,  travel  and  similar  items,  but  only in  accordance  with the
policies of the Company, as from time to time adopted.

     12. Withholding Taxes. All payments to Employee or his beneficiary shall be
subject to withholding on account of federal,  state and local taxes as required
by law. If any payment  hereunder is  insufficient to provide the amount of such
taxes  required to be  withheld,  the Company may  withhold  such taxes from any
other  payment due Employee or his  beneficiary.  In the event all cash payments
due Employee are insufficient to provide the required amount of such withholding
taxes,  Employee or his  beneficiary,  within five (5) days after written notice
from the Company,  shall pay to the Company the amount of such withholding taxes
in excess of all cash payments due Employee or his beneficiary.

     13. Assignability; Binding Nature. This Agreement shall be binding upon and
inure to the benefit of the parties and their respective  successors,  heirs (in
the case of Employee) and assigns. No rights or obligations of the Company under
this  Agreement  may be  assigned  or  transferred  by the  Company,  except  in
connection with a Change in Control where the assignee or transferee  agrees, in
writing,  to assume  such  rights  and  obligations  of the  Company  under this
Agreement.  No  obligations  of Employee under this Agreement may be assigned or
transferred by Employee.

     14. Entire  Agreement.  Except to the extent otherwise  provided herein and
except for the Confidentiality and Proprietary  Information Agreement,  dated as
of  __________,  ______,  by and  between the  Company  and the  Employee,  this
Agreement  contains the entire  understanding  and agreement between the parties
concerning  the  subject  matter  hereof and  supersedes  any prior  agreements,
whether  written or oral,  between the  parties  concerning  the subject  matter
hereof.

     15.  Amendment or Waiver.  No provision  in this  Agreement  may be amended
unless such amendment is agreed to in writing and signed by both Employee and an
authorized  officer of the  Company.  No waiver by either party of any breach by
the other party of any condition or provision contained in this Agreement to be

<PAGE>

performed  by such  other  party  shall  be  deemed  a waiver  of a  similar  or
dissimilar  condition or provision at the same or any prior or subsequent  time.
Any  waiver  must be in  writing  and signed by the  Employee  or an  authorized
officer of the Company, as the case may be.

     16.  Severability.  In the event  that any  provision  or  portion  of this
Agreement shall be determined to be invalid or unenforceable  for any reason, in
whole or in part, the remaining provisions of this Agreement shall be unaffected
thereby  and  shall  remain  in full  force and  effect  to the  fullest  extent
permitted by law.

     17.  Survivorship.  The  respective  rights and  obligations of the parties
hereunder  shall  survive any  termination  of  Employee's  employment  with the
Company to the extent necessary to the intended  preservation of such rights and
obligations as described in this Agreement.

     18.  Governing Law. This  Agreement  shall be governed by and construed and
interpreted  in  accordance  with the laws of the  State  of  Colorado,  without
reference to principles of conflict of laws.

     19.  Arbitration.   With  the  sole  exception  of  the  injunctive  relief
contemplated  by Paragraph  10(a),  any  controversy or claim arising out of any
aspect of the  relationship  of the parties  hereto,  will be settled by binding
arbitration  in Denver,  Colorado by a panel of three  arbitrators in accordance
with the Commercial  Arbitration Rules of the American Arbitration  Association.
Judgment  upon  any  arbitration  award  may  be  entered  in any  court  having
jurisdiction  thereof and the parties consent to the  jurisdiction of the courts
of the State of Colorado for this purpose.

     20. Notices. Any notice given to either party shall be in writing and shall
be  effective  when  given,  and shall in any  event be deemed to be given  upon
receipt,  or if earlier,  (a) five (5) days after  deposit with the U.S.  Postal
Service or other  applicable  postal service,  if delivered by first class mail,
postage prepaid,  (b) upon delivery,  if delivered by hand, (c) one (1) business
day after the business day of deposit with Federal Express or similar  overnight
courier,  freight  prepaid or (d) one (1) business day after the business day of
facsimile  transmission,  if delivered by  facsimile  transmission  with copy by
first class mail,  postage  prepaid,  and shall be duly  addressed  to the party
concerned  at the address  indicated  below or to such  changed  address as such
party may subsequently give such notice of:

                             If to the Company, to:
                          6399 S. Fiddlers Green Circle
                                    Suite 300
                           Greenwood Village, CO 80111

                               If to Employee, to:
                             ======================

<PAGE>

     21.  Headings.  The headings of the Paragraphs  contained in this Agreement
are for  convenience  only and  shall not be deemed  to  control  or affect  the
meaning or construction of any provision of this Agreement.

     22. Counterparts;  Facsimile Signatures.  This Agreement may be executed in
one or more  counterparts,  each of which shall be deemed an original but all of
which together will constitute one and the same  instrument.  This Agreement may
be executed by  facsimile  signature  and the  facsimile  signature of any party
shall constitute and original in all respects.

     IN WITNESS  WHEREOF,  the  parties  hereto  have  executed  or caused to be
executed this instrument on the date first above written.

=====================================

 /s/  Robert D. Grizzle
Name: Robert D. Grizzle
      -------------------------------

=====================================

NAVIDEC FINANCIAL SERVICES, INC.

By: /s/  John R. McKowen
    ---------------------------------
         John R. McKowen
Its:     Chief Executive Officer
     --------------------------------

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