Document:

Exhibit 10.72.3

                                 AMENDMENT #1 TO
                            SHARE EXCHANGE AGREEMENT

         THIS AMENDMENT #1, made and entered into and effective as of August 21,
2001, amends the SHARE EXCHANGE  AGREEMENT (the "Exchange  Agreement") dated May
2,  2001,  by  and  among  HEADWATERS   INCORPORATED,   a  Delaware  corporation
("Headwaters"),  HEADWATERS  SUB  CORPORATION,  a New Jersey  corporation  and a
wholly-owned subsidiary of Headwaters ("Merger Sub"), HYDROCARBON  TECHNOLOGIES,
INC., a New Jersey  corporation  ("HTI"),  and each of the individuals listed on
the signature pages thereto (the "Transferors").

                                    RECITALS

         A. Headwaters, Merger Sub, HTI, and Alfred G. Comolli, Lap-Keung (Theo)
Lee, Ph.D., David L. Tanner, and Michael Kelley (the "HTI Shareholders") entered
into the Exchange Agreement on May 2, 2001.

         B. Headwaters,  Merger Sub, HTI, and the HTI Shareholders wish to amend
Section  1.3(a)(vii)  of the Exchange  Agreement,  which  defines the term "2002
Projected  EBITDA" and which  constitutes the criterion for determining  whether
HTI earns the Second Contingent Payment under the Exchange Agreement,  to better
reflect the parties' agreement.

         C. Section 9.1 of the Exchange  Agreement provides that the Transferors
shall indemnify  Headwaters for, among other things,  any  misrepresentation  or
breach of the  representations,  warranties or covenants of HTI contained in the
Merger   Agreement  or  made  to  Headwaters  or  Merger  Sub  in  any  exhibit,
certificate, or other instrument or document furnished or to be furnished by HTI
pursuant  to  the  Merger  Agreement  or in  connection  with  the  transactions
contemplated therein, subject to the limitations contained in Section 9.1.

         D.  Section   2.8(h)  of  the  Merger   Agreement  sets  forth  certain
representations and warranties of HTI with regard to intellectual  property used
in the operation of its business,  including  HTI's  design,  development,  use,
import,  manufacture,  and  sale  of  the  products,   technology,  or  services
(including  products,  technology,  or services  currently under development) of
HTI.

         E. Headwaters,  Merger Sub, HTI, and the HTI Shareholders wish to amend
the  Exchange  Agreement  as of  this  date so  that  HTI  and  the  Transferors
specifically acknowledge and agree that if certain potential claims of IFP North
America,  Inc., or any affiliates  thereof,  against Headwaters or the Surviving
Corporation, or other related parties, result in a breach of the representations
and warranties contained in Section 2.8(h) of the Merger Agreement,  then Losses
incurred by Headwaters or the Surviving  Corporation (or the related parties) in
connection  with such  breach of the  representations  and  warranties  shall be
subject to indemnification under Section 9.1 of the Exchange Agreement.

<PAGE>

         F. Section 11.3 of the Exchange  Agreement  provides  that the Exchange
Agreement may be amended,  at any time prior to the Closing, by a writing signed
by Headwaters,  Merger Sub, HTI, and a majority in interests of the  Transferors
who have signed the Exchange Agreement as of such time.

         G. The HTI  Shareholders  constitute  a majority  in  interests  of the
Transferors as of the date of this Amendment #1.

         NOW,  THEREFORE,  in  consideration  of the  premises and of the mutual
agreements contained herein and in the Exchange Agreement, the Parties do hereby
agree as follows:

         1. The  Exchange  Agreement is hereby  amended by adding the  following
clause to the end of Section 1.3(a)(vii)  (containing the definition of the term
"2002 Projected EBITDA"):

         "; and  provided  further  that,  for  purposes  of  determining  HTI's
         qualification for the Second Contingent Payment,

         (i) if the Shenhua license agreement discussed in Section 1.3(c)(ii)(y)
         herein is  executed  between  January  1,  2002,  and  March 31,  2002,
         inclusive, 2002 Projected EBITDA will be increased by $1,521,000;

         (ii)  if  the  PetroChina   license  agreement   discussed  in  Section
         1.3(c)(ii)(z) herein is executed between January 1, 2002, and March 31,
         2002,  inclusive,  2002 Projected  EBITDA will be increased by $75,000;
         and

         (iii) if either the Shenhua license agreement or the PetroChina license
         agreement,  or both, is executed between January 1, 2002, and March 31,
         2002,   inclusive,   in  addition  to  the  adjustments   described  in
         subsections (i) and (ii) above, 2002 Projected EBITDA will be increased
         by the net loss, if any,  before  interest,  taxes,  depreciation,  and
         amortization incurred by HTI from the Closing Date through December 31,
         2001."

         2. Section 1.3(c)(ii)(z) of The Exchange Agreement is hereby amended by
replacing the phrase  "("PetroChina")" with the phrase "or an equivalent company
(in either case, "PetroChina" for all purposes under this Exchange Agreement)".

         3. The Exchange Agreement is hereby amended to add the following to the
end of Section 9.1:

         "HTI  and  the  Transferors  hereby  acknowledge  and  agree  that  the
         indemnification provided for in this Section 9.1 applies to claims made
         by or on behalf of IFP North  America,  Inc., or any affiliate  thereof
         (in either  case,  "IFP")  against  any  Indemnified  Persons  alleging
         infringement, misappropriation, or misuse of IFP's alleged intellectual
         property rights or trade secrets and which claims result in a breach of
         the representations, warranties and covenants made by HTI in the Merger
         Agreement,  including, without limitation, Section 2.8(h) of the Merger
         Agreement.  In the  event  that IFP  makes  any  claim  and such  claim
         proceeds to litigation,  arbitration, or other dispute resolution forum
         and (x) any  Indemnified  Person  alleges any  counterclaim  for costs,
         expenses,  damages,  or other  relief  against IFP,  including  claims,

                                       2
<PAGE>

         defenses,  or motions for frivolous pleadings or under any similar law,
         statute,  or rule, and (y) a monetary award or settlement is paid or is
         payable to Headwaters or the Surviving Corporation in such matter which
         is in excess of the  Losses,  if any,  incurred  by  Headwaters  or the
         Surviving Corporation in connection with the IFP claim, then the amount
         of the award or  settlement in excess of the Losses shall be payable to
         the Representative for the benefit of the Transferors."

                                     *******

                                       3
<PAGE>

         IN WITNESS WHEREOF,  the parties hereto have executed this Amendment #1
to the Exchange Agreement as of the day and year first above written.

                                  HEADWATERS INCORPORATED

                                  By:  /s/ Kirk A. Benson
                                      ------------------------------------------
                                        Kirk A. Benson, Chief Executive Officer

                                  HYDROCARBON TECHNOLOGIES, INC.

                                  By:  /s/ Alfred G. Comolli
                                      ------------------------------------------
                                        Alfred G. Comolli, President

                                  HEADWATERS SUB CORPORATION

                                   /s/ Kirk A. Benson
                                  ------------------------------------
                                  By:  Kirk A. Benson
                                  Title:  President

                                   /s/ Alfred G. Comolli
                                  ------------------------------------
                                  Alfred G. Comolli

                                   /s/ Lap-Keung (Theo) Lee, Ph.D.
                                  ------------------------------------
                                  Lap-Keung (Theo) Lee, Ph.D.

                                   /s/ David L. Tanner
                                  ------------------------------------
                                  David L. Tanner

                                   /s/Michael Kelley
                                  ------------------------------------
                                  Michael Kelley

                                       4Exhibit 10.72.4

                               STATE OF NEW JERSEY
                              CERTIFICATE OF MERGER

         Pursuant to Section  14A:10-5.1 of the New Jersey Business  Corporation
Act  (the  "Corporation  Act"),  Headwaters  Sub  Corporation,   as  the  parent
corporation of Hydrocarbon Technologies,  Inc., has executed this Certificate of
Merger (the "Certificate") as of August 28, 2001:

FIRST:   The name of the Surviving Corporation is Hydrocarbon Technologies, Inc.
("HTI"), a New Jersey corporation,  and the name of the corporation being merged
with and into HTI is Headwaters Sub  Corporation  (the  "Parent"),  a New Jersey
corporation.

SECOND:  The plan of merger is as follows:

         1) The Parent owns approximately 94.44% of the outstanding common stock
of HTI and is  effecting  the  merger of Parent  with and into HTI  pursuant  to
Section 14A:10-5.1(1) of the Corporation Act.

         2) The  Certificate  of  Incorporation  of  the  Parent,  as in  effect
immediately  prior to the time of the filing of this  Certificate with the State
of New Jersey (the "Effective Time"),  shall be the Certificate of Incorporation
of the  Surviving  Corporation  until  thereafter  amended  as  provided  by the
Corporation Act and by such Certificate of Incorporation.

         3) The Bylaws of HTI, as in effect  immediately  prior to the Effective
Time,  shall be, at the Effective Time, the Bylaws of the Surviving  Corporation
until thereafter amended.

         4) Each share of common  stock of HTI,  par value  $.01,  ("HTI  Common
Stock") issued and outstanding  immediately prior to the Effective Time, that is
not owned by  Headwaters  Incorporated  ("Headwaters")  or the  Parent,  and all
rights to accrued dividends in respect thereof,  at the Effective Time by virtue
of the Merger and  without  any action on the part of the  Parent,  HTI,  or the
holders of any shares of HTI Common Stock, will be canceled and extinguished and
automatically  converted  into  the  right  to  receive  in cash  the  aggregate
consideration, per share, in the amount of $8.26 (the "Merger Consideration").

         5) Any shares of HTI Common  Stock held in the treasury of HTI or owned
by the Parent or Headwaters  immediately  prior to the  Effective  Time shall be
canceled and extinguished without any conversion thereof.

         6) All options to purchase HTI Common Stock ("HTI Stock  Options") then
outstanding under HTI's Stock Option Plan (the "HTI Stock Option Plan") shall be
exchanged  by  Headwaters  for  options to acquire  common  stock of  Headwaters
("Headwaters  Common Stock") under  Headwaters'  option plan  registered on Form
S-8, at the Effective  Time, and shall have, and be subject to, the same vesting
and  expiration  terms as set  forth in the HTI Stock  Option  Plan  and/or  any
agreements  pursuant to which such HTI Stock  Options  were granted as in effect
immediately  prior to the Effective Time, except that (A) each Substitute Option
shall be exercisable for that number of whole shares of Headwaters  Common Stock
equal to the number of shares underlying such HTI Stock Option immediately prior

<PAGE>

to the Effective  Time,  multiplied by the Option  Exchange Ratio and rounded to
the nearest whole number of shares of Headwaters  Common Stock and (B) the price
at which  each such  Substitute  Option is  exercisable  shall be divided by the
Option Exchange Ratio and rounded to the nearest cent.

         7) Each share of common  stock,  $.001 par value,  of the Parent issued
and outstanding  immediately prior to the Effective Time shall be converted into
and exchanged for one validly issued,  fully paid, and  non-assessable  share of
common stock, $.01 par value, of the Surviving Corporation.

THIRD:   The plan of merger was approved by the Board of the Parent on April 26,
2001.

FOURTH:  The number of outstanding shares of HTI Common Stock is 1,599,611.  The
number  of  outstanding  shares  of HTI  Common  Stock  owned by the  Parent  is
1,510,654.

FIFTH:   A summary of the plan of merger was mailed to the minority shareholders
of HTI on August 28, 2001.

SIXTH:   The  number  of shares of the  Parent  entitled  to vote on the plan of
merger  is 100.  The  number of  shares  voted in favor of the plan is 100.  The
number of shares voted against the plan is 0.

                                       2
<PAGE>

         IN  WITNESS  WHEREOF,   Headwaters  Sub  Corporation  has  caused  this
Certificate  to be signed by an  authorized  officer,  this 28th day of  August,
2001.

                                            HEADWATERS SUB CORPORATION

                                            By:  /s/ Kirk A. Benson
                                                -------------------------------
                                                 Name: Kirk A. Benson
                                                 Title:   President

                                       3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00029-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00029-of-00352.parquet"}]]