Document:

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                                                                    EXHIBIT 10.4
                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT is entered into on December 20, 1999 (the "Effective
Time"), by and between Timothy S. Yamauchi, an individual resident of the State
of California ("Executive"), and Stockpoint, Inc., a Delaware corporation
("Company").

         WHEREAS, Executive has heretofore been employed as the Chief Operating
Officer of the Company; and

         WHEREAS, the Company desires to continue to have the benefit of the
Executives services as a corporate officer of the Company;

         WHEREAS, certain guarantors of borrowings of the Company have required,
as a condition to their guarantees, that the Company execute an employment
agreement with Executive and

         WHEREAS, the proceeds from such borrowings are necessary for the
Company's operations and will benefit the Company and the Executive.

         NOW, THEREFORE, in consideration of the premises, the respective
undertakings of the Company and Executive set forth below, the Company and
Executive agree as follows:

         1.    Employment. The Company hereby agrees to employ Executive, and
Executive accepts such employment and agrees to perform services for the
Company, upon the other terms and conditions set forth in this Agreement.

         2.    Term. The term of this agreement is one year and renews annually,
unless either party provides written notification 90 days prior to the renewal.
See section 8 below for Termination definitions and remedies.

         3.    Positions, Duties and Reporting.

               3.01  Service with Company. During the term of this Agreement,
Executive agrees to perform such reasonable employment duties consistent with
the role of Chief Operating Officer, as the Company shall assign to him from
time to time. These duties shall include but not limited to, management and
oversight of the following functions/departments: Sales, Marketing,
Infrastructure, Quality Assurance, Client Services, CFS Development and New
Product Development.

               3.02  Performance of Duties. Executive agrees to serve the
Company faithfully and to the best of his ability and to devote his full time,
attention, and efforts to the business and affairs of the Company during the
term of this Agreement. Executive represents to the Company that he is under no
contractual commitments inconsistent with his obligations set forth in this
Agreement, and that during the term of this Agreement, he will not render or
perform services for any other corporation, firm, entity or person which are
inconsistent with the provisions of this Agreement.

               3.03  Reporting. This position will report to the Chief Executive
Officer of the Company.

         4.    Compensation.

               4.01  Base Salary. As base compensation for all services to be
rendered by Executive under this Agreement during the first year of the term of
this Agreement, the Company shall pay to Executive a base salary at a rate of
$150,000 per year, which salary shall be paid on a twice-monthly basis in
accordance with the Company's normal payroll procedures and policies. The salary
payable to Executive during each subsequent year during the term of this
Agreement shall be established by the Company and Executive, but in no event
shall the salary for any subsequent year be less than the base salary in effect
for the prior year.

               4.02  Participation in Benefit Plans. During the term of this
Agreement, Executive shall be entitled to receive such medical and
hospitalization insurance and other fringe benefits as are being provided

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to the Company's other executive level employees from time to time to the extent
that Executive's age, position or other factors qualify him/her for such fringe
benefits.

               4.03  Expenses. The Company will pay or reimburse Executive for
all reasonable and necessary out-of-pocket expenses incurred by him in the
performance of his duties under this Agreement, subject to the presentment of
appropriate vouchers in accordance with the Company's normal policies for
expense verification.

               4.04  Incentive for 1st Half of 1999. The Company agrees to pay
Executive, an incentive bonus for the first half of 1999 performance of $17,800
upon the signing of this document. In consideration for performance in the
second half of 1999, the Company has granted an additional stock options as
described in Section 4.07.

               4.05  Incentive for completion of an initial public offering.
Upon the completion of an initial public offering of the Company's common stock,
the Company will also pay Executive an IPO cash bonus of $45,000, which is due
and payable, immediately upon the close.

               4.06  Annual Incentive Compensation. The Company shall formulate
and deliver to Executive by January 31, 2000 with respect to the remainder of
fiscal 2000, and by January 1 with respect to each succeeding fiscal year during
the term of this Agreement, and the Company and Executive shall use their best
efforts to negotiate and agree to, an annual incentive compensation plan for
Executive.

               4.07  Vesting of Stock Options.

         On September 15, 1999, the Company issued to the Executive an
additional option ("September 1999 Option") grant to purchase up to 60,000
shares of Company Common Stock at a price of $7.20 per share pursuant to the
Company's 1995 Stock Incentive Plan (the "Plan"). Such option shall become
exercisable with respect to 20% of the shares immediately upon execution of this
Agreement and the balance shall vest monthly at a rate of 1/60 of the total
September 1999 Option grant over the balance of the term. Such option shall
expire 10 years from the date of the grant and shall contain such other
provisions as are contained in the form of stock option agreement used by
Company under the Plan.

In the event that this Agreement is terminated as a result of the "Constructive
Termination" (as defined in Section 8.01(2)) or without "Cause" (as defined in
Section 8.01(1)) of the Executive, the September 1999 Option will vest with
respect to 40% of the shares subject thereto immediately. In addition, the
Company will permit the Executive to exercise all of his/her vested options for
a period of 12 months, commencing from the date of termination.

Vesting of all options granted to Executive will be accelerated with respect to
100% of the shares subject thereto in the event of a "Change in Control" of the
Company. For such purposes, a "Change in Control" shall mean any of the
following:

         (i)   A sale of all or substantially all of the assets of the Company;

         (ii)  The acquisition of more than 50% of the then outstanding Company
               Common Stock by any person or group of persons acting in concert;

         (iii) Any change that results in the Continuing Directors constituting
               less than a majority of the Board of Directors;

         (iv)  A reorganization or, a merger of Company with another company
               after which the holders of common stock of the Company
               immediately prior to the merger or reorganization hold less than
               50% of the voting power of the resulting corporations, or any
               other transaction in which the Company (other than as the parent
               corporation) is consolidated for federal income tax purposes or
               is eligible to be consolidated for federal income tax purposes
               with another corporation; or

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         (v)   In the event that the Company Common Stock is traded on an
               established securities market: a public announcement that any
               person has acquired beneficial ownership of more than 25% of the
               then outstanding Company Common Stock and for this purpose the
               terms "person" and "beneficial ownership" shall have the meanings
               provided in Section 13(d) of the Securities and Exchange Act of
               1934 or related rules promulgated by the Securities and Exchange
               Commission or; the commencement of or public announcement of an
               intention to make a tender offer for more than 50% of the then
               outstanding Company Common Stock.

For purposes of this Section 4.07, "Continuing Directors" shall include only
those directors of the Company on the date hereof and those directors, as of a
date 30 days prior to an event that would otherwise be considered a "Change in
Control," who were nominated by Continuing Directors and duly elected by
shareholders at an annual meeting thereof or nominated and elected by directors
who were "Continuing Directors."

         5.    Confidential Information. Except as permitted or directed by the
Company's Board of Directors, during the term of this Agreement or at any time
thereafter, Executive shall not divulge, furnish or make accessible to anyone or
use in any way (other than in the ordinary course of the business of the
Company) any confidential or secret knowledge or information of the Company
which Executive has acquired or become acquainted with or will acquire or become
acquainted with during the period of his employment by the Company, whether
developed by himself or by others, concerning any trade secrets, confidential or
secret designs, processes, formulae, plans, devices or material (whether or not
patented or patentable) directly or indirectly useful in any aspect of the
business of the Company, any confidential or secret development or research work
of the Company, or any other confidential information or secret aspects of the
business of the Company. Executive expressly acknowledges that, in addition to
the Company's proprietary software and technical know-how, the Company's
customer lists and the form (including, without limitation, payment terms) of
the Company's relationships with its customers is not publicly known and that
the disclosure or use of such information for any purpose other than for the
benefit of the Company could cause substantial damage the Company and would
place the Company at a competitive disadvantage. Executive acknowledges that the
above-described knowledge or information constitutes a unique and valuable asset
of the Company and that any disclosure or other use of such knowledge or
information other than the sole benefit of the Company would be wrongful and
would cause irreparable harm to the Company. The foregoing obligations of
confidentiality shall not apply to any knowledge or information which is now
published, which subsequently becomes generally publicly known, other than as a
direct or indirect result of the breach of this Agreement by Executive, or which
was known to the Executive prior to the term of his employment with the Company.
Executive agrees to notify any person or entity with which Executive is employed
or for which Executive provides services of the requirements of this Section 5
and to notify the Company of the identity of any such person or entity with
which Executive is employed during the One year after termination of this
Agreement.

         6.    Employee Solicitation. During employment, and for a period of
nine months thereafter, Executive shall not (i) directly or indirectly solicit
any employee of the Company or any of Company's affiliates to leave the employ
of any such entity or in any way interfere adversely with the relationship
between any such employee and any such entity, (ii) directly or indirectly
solicit any employee of the Company or any affiliates to work for, render
services or provide advice to or supply confidential business information or
trade secrets of any such entity to any third person, firm or corporation, or
(iii) directly or indirectly solicit any existing customers and potential
customers that have an unexpired written proposals under consideration. For
purposes of the foregoing, solicitation shall not include solicitation of
employees, vendors or customers (i) who first solicit employment or a
relationship from Executive, or (ii) who are solicited (A) by advertising in
periodicals of general circulation or by general circulation Internet
advertising, or (B) by a search or consulting firm on behalf of Executive or
Executive's affiliates, so long as Executive or such affiliates did not direct
or encourage such firm to solicit such employee, vendor or customer of the
Company. If any restriction set forth in this paragraph is held to be
unreasonable, then Executive and the Company agree, and hereby submit, to the
reduction and limitation of such prohibition to such area or period as shall be
deemed reasonable.

         7.    Patent and Related Matter.

               7.01  Disclosure and Assignment. Executive will promptly disclose
in writing to the Company complete information concerning each and every
invention, discovery, improvement, work of authorship, device, design,
apparatus, practice, process, method or product whether patentable or not, made,

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developed, authored, perfected, devised, conceived or first reduced to practice
by Executive, either solely or in collaboration with others, during the term of
this Agreement, whether or not during regular working hours, relating to the
Business of the Company (hereinafter referred to as "Developments"). Executive,
to the extent that he has the legal right to do so, hereby acknowledges that any
and all of said Developments are the property of the Company and hereby assigns
and agrees to assign to the Company any and all of Executive's right, title and
interest in and to any and all of such Developments.

               7.02  Limitation on Section 7.01. The provisions of section 7.01
shall not apply to any Development meeting the following conditions:

                         (a)  such Development was developed entirely on
                              Executive's own time; and

                         (b)  such Development was made without the use of any
                              Company equipment, supplies, facility or trade
                              secret information, excluding Executives laptop;
                              and

                         (c)  such Development does not relate (I) directly to
                              the Business of the Company, or (ii) to the
                              Company's actual or demonstrably anticipated
                              research or development; and

                         (d)  such Development does not result from any work
                              performed by Executive for the Company.

               7.03  Assistance of Executive. Upon request and without further
compensation therefor, but at no expense to Executive, and whether during the
term of this Agreement or thereafter, Executive will do all lawful acts,
including, but not limited to, the execution of papers and lawful oaths and the
giving of testimony, that in the opinion of the Company, its successors and
assigns, may be necessary or desirable in obtaining, sustaining, reissuing,
extending and enforcing United States and foreign patents and/or registrations
including, but not limited to, design patents, on any and all of such
Developments (other than those described in 7.02), and for perfecting affirming
and recording the Company's complete ownership and title thereto, and to
cooperate otherwise in all proceedings and matters relating thereto.

               7.04  Obligations, Restrictions and Limitations. Executive
understands that the Company may enter into agreements or arrangements with
agencies of the United States Government, and that the Company may be subject to
laws and regulations which impose obligations, restrictions and limitations on
it with respect to inventions and patents which may be acquired by it or which
may be conceived, authored or developed by employees, consultants or other
agents rendering services to it. Executive agrees that he shall be bound by all
such obligations, restrictions and limitations applicable to any such invention
or work of authorship conceived, authored or developed by him during the term of
this Agreement and shall take any and all further action which may be required
to discharge such obligations and to comply with such obligations and to comply
with such restrictions and limitations.

         8.    Termination

               8.01  Grounds for Termination.  This Agreement may be terminated:

                         (a)  by the Company, if Executive dies, or

                         (b)  by the Executive, if Executive becomes disabled
                              (as defined below), or

                         (c)  by the Company, if the Executive has engaged in
                              conduct constituting cause for his termination and
                              the Company notifies Executive in writing of such
                              election, or

                         (d)  by the Company without cause upon notice to the
                              Executive in writing of such election, provided
                              that such termination may only occur by unanimous
                              decision of the Board of Directors if there are
                              then three or fewer Directors or by a majority
                              decision of the Board of Directors if there are
                              then four or more Directors.

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                         (e)  by the Executive, if the Executive is
                              constructively terminated, as defined in paragraph
                              8.01(2) herein and the Executive has notified the
                              Company of his election to terminate for
                              Constructive Termination, or

                         (f)  by the Executive upon notice to the Company in
                              writing of such election.

         If this Agreement is terminated pursuant to subsection (a), (b), (c),
         (e) or (f) of this section 8.01, such termination shall be effective
         immediately. If this Agreement is terminated pursuant to subsection (d)
         of this section 8.01, such termination shall be effective thirty (30)
         days after delivery of the notice of termination.

               (1)   "Cause" Defined.  "Cause" means:

                         (a)  The Employee has breached the provisions of
               Section 5, 6 or 7 of this Agreement in any material respect,

                         (b)  The Executive has engaged in willful and material
               misconduct, including willful and material failure to perform the
               Employee's duties as an officer or employee of the Company and
               has failed to cure such default within 30 days after receipt of
               written notice of default from the Company,

                         (c)  The Executive has committed fraud,
               misappropriation or embezzlement in connection with the Company's
               business, or

                         (d)  Executive has been convicted or has pleaded nolo
               contendere to criminal misconduct that is detrimental to the
               Company's reputation or that calls into question, in the
               judgement of the Board, Executive's integrity in fulfilling his
               duties under this Agreement.

               In the event the Company terminates Executive's employment for
         "cause" pursuant to subsection 8.01 and Executive objects in writing to
         the Board's determination that there was proper "cause" for such
         termination within (30) days after Executive is notified of such
         termination, the matter shall be resolved by arbitration in accordance
         with the provisions of section 10.01. If Executive fails to object to
         any such determination of "cause" in writing within such thirty (30)
         day period, he shall be deemed to have waived his right to object to
         that determination. If such arbitration determines that there was not
         proper "cause" for termination, such termination shall be deemed to be
         a termination pursuant to subsection 8.01(d).

               (2)   "Constructive Termination" defined. Constructive
         Termination means termination by Executive after written notice to the
         Company that Executive deems such termination by Executive as a result
         of Constructive Termination, and only after:

                         (a)  A material breach by the Company of a material
                              obligation of the Company under this Agreement
                              after the Executive has given the Company written
                              notice of the breach and the Company has not
                              remedied the breach within 30 days;

                         (b)  A failure of the Company to pay when due to the
                              Executive any annual base salary, annual bonus or
                              other earned bonus or awards referred to in this
                              Agreement;

                         (c)  The relocation of the Executive's principal place
                              of employment to a location not within a 30 mile
                              radius of such place of employment on the
                              Effective Date;

                         (d)  A material reduction by the Company of the
                              Executive's duties or responsibilities;

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                         (e)  The failure of the Company to obtain an agreement
                              reasonably satisfactory to the Executive from any
                              successor to assume and agree to perform this
                              Agreement , or, if the business for which the
                              Executive's services are principally performed is
                              sold or transferred, the failure of the Company to
                              obtain such an agreement from the purchaser or
                              transferee of such business; or

                         (f)  The Company becomes insolvent or bankrupt where
                              executive can no longer perform his duties as
                              outlined above.

               In the event the Executive terminates Executive's employment for
"Constructive Termination" pursuant to subsection 8.01 and the Company objects
in writing to the Executive's determination that there was Constructive
Termination within (30) days after Executive has notified the Company of the
same, the matter shall be resolved by arbitration in accordance with the
provisions of section 10.01. If the Company fails to object to any such
determination of "Constructive Termination" in writing within such thirty (30)
day period, it shall be deemed to have waived its right to object to that
determination. If such arbitration determines that there was not proper
"Constructive Termination", such termination shall be deemed to be a termination
pursuant to subsection 8.01(c).

               8.02  "Disability" Defined. For purposes of this Agreement, the
term "disabled" means any mental or physical condition which renders Executive
unable to perform the essential functions of his positions, with or without
reasonable accommodation, for a period of more than ninety (90) days during any
consecutive one hundred twenty (120) day period.

               8.03  Surrender of Records and Property. Upon termination of his
employment with the Company, Executive shall deliver promptly to the Company all
records, manual, book, blank forms, document, letters, memoranda, notes,
notebooks, reports, data, tables, calculations or copies thereof, which are the
property of the Company or which relate in any way to the business, products,
practices or techniques of the Company, and all other property, trade secrets
and confidential information of the Company, including, but not limited to, all
documents which in whole or case are in his possession or under his control.

               8.04  Wage and Benefit Continuation. If Executive's employment by
the Company is terminated pursuant to subsection 8.01 (d) or 8.01(e), the
Company shall continue to pay to Executive his base salary and shall continue to
provide health insurance benefits for Executive for a period 9 months after
termination. In the event of a "Change in Control" as defined in Section 4.07,
if Executive's employment is terminated by "Constructive Termination" as defined
in Section 8.01(2) or without "Cause" as defined in as defined in Section
8.01(1) within 12 months after the effective date of a "Change in Control," the
severance compensation package defined in this Section will be doubled to 18
months. Notwithstanding anything else in this Section 8.04, Executive shall not
be entitled under this Section 8.04 or any other provision of this Agreement to
receive any cash compensation pursuant to this Agreement which constitutes an
"excess parachute payment" within the meaning of Section 280G of the Internal
Revenue Code of 1986, as amended, or any successor provision or regulations
promulgated.

If this Agreement is terminated pursuant to subsection 8.01 (a), 8.01 (c), or
8.01 (f), Executive's right to base salary and benefits shall immediately
terminate except as may otherwise be required by applicable law.

               If Executive's employment is terminated by the Company pursuant
to subsection 8.01(a), 8.01(b), 8.01(d) or 8.01(e), Executive shall also be
entitled to receive any pro rata bonus payment that as of the time of
termination would have been payable to him/her pursuant to any incentive plan
then in effect.

         9.    Indemnification and Directors & Officers Insurance

               9.01  Indemnification. The Company will provide Executive
indemnification, exculpation and expense advancement, to the fullest extent of
the law, including, without limitation, entering into an indemnification
agreement with Executive in at least as beneficial a form to Executive as the
Company has entered into with any other officer or director of the Company.

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               9.02  Directors and Officers Insurance. The Company will provide,
at its expense, Directors and Officers (D&O) insurance in an amount deemed
appropriate by its Board of Directors and Officers. If the Company shall show
any employee as a named insured under such policy, then the Executive shall be a
named insured under such policy.

         10.   Settlement of Disputes.

               10.01 Arbitration. Except as provided in section 10.02 any claims
or disputes of any nature between the Company and Executive arising from or
related to the performance, breach, termination, expiration, application, or
meaning of this Agreement or any related matter relating to Executive's
employment and the termination of that employment by the Company shall be
resolved exclusively by arbitration in Denver, CO, in accordance with the then
applicable rules of the American Arbitration Association. Any such arbitration
shall be conducted by an arbitrator with said Rules, who has at least ten (10)
years experience as an attorney in executive compensation and employment law.
The fees of the arbitrator (s) and other cost, including attorney fees, incurred
by Executive and the Company in connection with such arbitration shall be paid
by the party who is unsuccessful in such arbitration, as determined by the
arbitrator. The decision if the arbitrator(s) shall be final and binding upon
both parties. Judgement of the award rendered by the arbitrator(s) may be
entered in any court having jurisdiction thereof. In the event of submission of
any dispute to arbitration, each party shall, not later than thirty (30) days
prior to the date set forth hearing, provide to the other party and to the
arbitrator(s) a copy of all exhibits upon which the party intends to rely at the
hearing and a list of all persons each party intends to call at the hearing.

               10.02 Resolution of Certain Claims- Injunctive Relief. Section
10.01 shall have no application to claims by the Company asserting a violation
of section 5, 6, 7 or 8.03 or seeking to enforce, by injunction or otherwise,
the terms of section 5, 6, 7 or 8.03. Such claims may be maintained by the
Company in a lawsuit subject to the terms of section 10.03. Executive agrees
that, in addition to, but not to the exclusion of any other available remedy,
the Company shall have the right to enforce the provisions of sections 5, 6, 7
and 8.03 by applying for and obtaining temporary and permanent restraining
orders injunctions from a court of competent jurisdiction without the necessity
of filing a bond therefor and without the necessity of proving actual damages,
and the Company shall be entitled to recover from the Employee its reasonable
attorneys' fees and costs in enforcing the provisions of Sections 5, 6, 7 and
8.03.

               10.03 Venue. Any action at law, suit in equity, or judicial
proceeding arising directly or indirectly, or otherwise in connection with, out
of, related to or from this Agreement or any provisions hereof shall be
litigated only in the courts of the State of California. Executive waives any
right the Executive may have to transfer or change the venue of any litigation
brought against Executive by the Company.

               10.04 Severability. To the extent any provisions of this
Agreement shall be invalid or unenforceable, it shall be considered deleted
herefrom and the remainder of such provisions and if this Agreement shall be
unaffected and shall continue in full force and effect. In furtherance and not
in limitation of the foregoing, should the duration or geographical extent of,
or business activities covered by, any provisions of this Agreement be in excess
of that which is valid and enforceable under applicable law, then such
provisions shall be construed to cover only that duration, extent or activities
which may validly and enforceably be covered. Executive acknowledges the
uncertainty of the law in respect and expressly stipulates that this Agreement
be given the construction which renders its provisions valid and enforceable to
the maximum extent (not exceeding its express terms) possible under applicable
law.

         11    Miscellaneous.

               11.01 Governing Law. This Agreement is made under and shall be
governed by and construed in accordance with the laws of the State of
California.

               11.02 Prior Agreements. Except as set forth in Section 1, this
Agreement contains the entire agreement of the parties relating to the
employment of Executive by the Company and the ancillary matters discussed
herein and supersedes all prior agreements and undertakings with respect to such
matters, and the parties hereto made no arrangements, representations or
warranties relating to such employment or ancillary matters which are not set
forth herein.

<PAGE>   8

               11.03 Withholding Taxes. The Company may withhold from any
benefits payable under this Agreement all federal, state, city or other taxes
shall be required pursuant to any law governmental regulation, or ruling or any
other amount owed to the Company.

               11.04 Amendments. No amendment or modification of this Agreement
shall be deemed effective unless made in writing and signed by the both
Executive and Company.

               11.05 No Waiver. No term or condition of this Agreement shall be
deemed to have been waived, nor shall there be any estoppel to enforce any
provisions of this Agreement, except by a statement in writing signed by the
party against whom enforcement of the waiver or estoppel is sought. Any written
waiver shall not be deemed a continuing waiver unless specifically stated, shall
operate only as to specific term or condition waived and shall not constitute a
waiver of such term or condition for the future or as to any act other than that
specifically waived.

               11.06 Assignment. This Agreement shall not be assignable, in
whole or in part, by either party without the written consent of the other
party, except that the Company may, without the consent of the Executive, assign
its rights and obligations under this Agreement to any corporation, firm or
other business entity with or into which the Company may merge or consolidate,
or to which the Company may sell or transfer all or substantially all of its
assets, or of which 50% or more of the equity investment and of the voting
control is owned, directly or indirectly, by, or is under common ownership with,
the Company; provided, however, that no such assignment will relieve Company of
any of its obligations hereunder. After any such assignee shall thereafter be
deemed to be the Company for the purposes of all provisions of this Agreement
including section 9.

               11.07 Legal Fees. The company agrees to provide Executive a legal
fee allowance of $3,000 for the preparation of this employment agreement.

               11.08 Counterparts. This Agreement may be simultaneously executed
in any number of counterparts, and such counterparts executed and delivered,
each as an original, shall constitute but the same instrument.

               11.09 Notices. All notices, demands and other communications to
be given or delivered under or by reason of the provisions of this Agreement
will be in writing and will be deemed to have given when personally delivered or
three days after being mailed, if mailed, by first class mail, return receipt
requested, or when receipt is acknowledged, if sent by facsimile, telecopy or
other electronic transmission device. Notices, demands and communications to
Company and the Executive will, unless another address is specified in writing ,
be sent to the address indicated below:

         Notices to Company:                        Notice to Executive:
         -------------------                        --------------------
         Stockpoint, Inc.
         2600 Crosspark Road                        ----------------
         Coralville, Iowa 52241                     ----------------
         Attn: President                            ----------------

               11.10 Captions and Headings. The captions and paragraph headings
used in this Agreement are for convenience of reference only, and shall not
affect the construction or interpretation of this Agreement or any of the
provisions hereof.

               11.11 Effect of Termination. It is expressly understood that
neither the Company nor the Executive shall have any continuing obligation under
this agreement upon termination hereof, except in respect of the matters
referenced in Sections 5, 6, 7 and 8.03.
<PAGE>   9

         IN WITNESS WHEREOF, Executive and the Company have executed this
Agreement as of date set forth herein.

                                Stockpoint, Inc.

                                By: /s/  William E. Staib
                                   -----------------------

                                Its  CEO
                                   -----------------------

                                EXECUTIVE
                                 /s/  Timothy S. Yamauchi
                                --------------------------
                                Timothy S. Yamauchi<PAGE>   1
                                                                    EXHIBIT 10.5

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT is entered into on December 20, 1999 (the "Effective
Time"), by and between Luan Cox, an individual resident of the State of
California ("Executive"), and Stockpoint, Inc., a Delaware corporation
("Company").

         WHEREAS, Executive has heretofore been employed as the Executive Vice
President of Sales of the Company; and

         WHEREAS, the Company desires to continue to have the benefit of the
Executives services as a corporate officer of the Company;

         WHEREAS, certain guarantors of borrowings of the Company have required,
as a condition to their guarantees, that the Company execute an employment
agreement with Executive and

         WHEREAS, the proceeds from such borrowings are necessary for the
Company's operations and will benefit the Company and the Executive.

         NOW, THEREFORE, in consideration of the premises, the respective
undertakings of the Company and Executive set forth below, the Company and
Executive agree as follows:

         1. Employment. The Company hereby agrees to employ Executive, and
Executive accepts such employment and agrees to perform services for the
Company, upon the other terms and conditions set forth in this Agreement.

         2. Term. The term of this agreement is one year and renews annually,
unless either party provides written notification 90 days prior to the renewal.
See section 8 below for Termination definitions and remedies.

         3. Positions, Duties and Reporting.

            3.01 Service with Company. During the term of this Agreement,
Executive agrees to perform such reasonable employment duties consistent with
the role of Executive Vice President of Sales, as the Company shall assign to
him/her from time to time. These duties shall include: overseeing and directing
domestic and global expansion of the sales efforts; developing sales systems and
processes; and implementing sales strategies for the Company.

            3.02 Performance of Duties. Executive agrees to serve the Company
faithfully and to the best of his/her ability and to devote his/her full time,
attention, and efforts to the business and affairs of the Company during the
term of this Agreement. Executive represents to the Company that he/she is under
no contractual commitments inconsistent with his/her obligations set forth in
this Agreement, and that during the term of this Agreement, he/she will not
render or perform services for any other corporation, firm, entity or person
which are inconsistent with the provisions of this Agreement.

            3.03 Reporting. This position will report to the Chief Operating
Officer of the Company.

         4. Compensation.

            4.01 Base Salary. As base compensation for all services to be
rendered by Executive under this Agreement during the first year of the term of
this Agreement, the Company shall pay to Executive a base salary at a rate of
$150,000 per year, which salary shall be paid on a twice-monthly basis in
accordance with the Company's normal payroll procedures and policies. The salary
payable to Executive during each subsequent year during the term of this
Agreement shall be established by the Company and Executive, but in no event
shall the salary for any subsequent year be less than the base salary in effect
for the prior year.

            4.02 Participation in Benefit Plans. During the term of this
Agreement, Executive shall be entitled to receive such medical and
hospitalization insurance and other fringe benefits as are being provided

<PAGE>   2

to the Company's other executive level employees from time to time to the extent
that Executive's age, position or other factors qualify him/her for such fringe
benefits.

         4.03  Expenses. The Company will pay or reimburse Executive for all
reasonable and necessary out-of-pocket expenses incurred by him/her in the
performance of his/her duties under this Agreement, subject to the presentment
of appropriate vouchers in accordance with the Company's normal policies for
expense verification.

         4.04  Sales Commission Plan. Prior to December 31, 1999, Executive
shall be paid commission based on Executive's existing commission plan. The
Executive's existing commission plan, payable upon receipt of invoice payment,
is as follows: 2% of all sales revenue generated by Company; 7% of personal
sales up to monthly quota and 10% of personal sales exceeding monthly quota;
Executive's Personal Monthly Quota equals $75,000 of annualized revenue.

         Although the Executive and the Company have not finalized terms of the
         year 2000 sales commission plan, both parties agree that the
         Executive's year 2000 commission plan will be set such that the sum of
         base salary and the expected sales commissions will be equal $500,000
         during the year 2000 if the Company achieves its year 2000 sales goals.

         Sales closed is defined, for purposes of this agreement, as a License
         Agreement which has been executed.

         4.05  Incentive for completion of an initial public offering. Upon the
completion of an initial public offering of the Company's common stock, the
Company will also pay Executive an IPO cash bonus of $30,000, which is due and
payable, immediately upon the close.

         4.06  Vesting of Stock Options.

         On September 15, 1999, the Company issued to the Executive an
additional option ("September 1999 Option") to purchase up to 130,000 shares of
Company Common Stock at a price of $7.20 per share pursuant to the Company's
1995 Stock Incentive Plan (the "Plan"). Such option shall become exercisable
with respect to 20% of the shares immediately upon execution of this Agreement
and the balance shall vest monthly at a rate of 1/60 of the total September 1999
Option grant over the balance of the term. Such option shall expire 10 years
from the date of the grant and shall contain such other provisions as are
contained in the form of stock option agreement used by Company under the Plan.

In the event that this Agreement is terminated as a result of the "Constructive
Termination" (as defined in Section 8.01(2)) or without "Cause" (as defined in
Section 8.01(1)) of the Executive, the September 1999 Option will vest with
respect to 40% of the shares subject thereto. In addition, the Company will
permit the Executive to exercise all of his/her vested options for a period of
12 months, commencing from the date of termination.

Vesting of all options granted to Executive will be accelerated with respect to
100% of the shares subject thereto in the event of a "Change in Control" of the
Company. For such purposes, a "Change in Control" shall mean any of the
following:

         (i)   A sale of all or substantially all of the assets of the Company;

         (ii)  The acquisition of more than 50% of the then outstanding Company
               Common Stock by any person or group of persons acting in concert;

         (iii) Any change that results in the Continuing Directors constituting
               less than a majority of the Board of Directors;

         (iv)  A reorganization or, a merger of Company with another company
               after which the holders of common stock of the Company
               immediately prior to the merger or reorganization hold less than
               50% of the voting power of the resulting corporations, or any
               other transaction in which the Company (other than as the parent
               corporation) is consolidated for federal income tax

<PAGE>   3

               purposes or is eligible to be consolidated for federal income tax
               purposes with another corporation; or

         (v)   In the event that the Company Common Stock is traded on an
               established securities market: a public announcement that any
               person has acquired beneficial ownership of more than 25% of the
               then outstanding Company Common Stock and for this purpose the
               terms "person" and "beneficial ownership" shall have the meanings
               provided in Section 13(d) of the Securities and Exchange Act of
               1934 or related rules promulgated by the Securities and Exchange
               Commission or; the commencement of or public announcement of an
               intention to make a tender offer for more than 50% of the then
               outstanding Company Common Stock.

For purposes of this Section 4.06, "Continuing Directors" shall include only
those directors of the Company on the date hereof and those directors, as of a
date 30 days prior to an event that would otherwise be considered a "Change in
Control," who were nominated by Continuing Directors and duly elected by
shareholders at an annual meeting thereof or nominated and elected by directors
who were "Continuing Directors."

         5. Confidential Information. Except as permitted or directed by the
Company's Board of Directors, during the term of this Agreement or at any time
thereafter, Executive shall not divulge, furnish or make accessible to anyone or
use in any way (other than in the ordinary course of the business of the
Company) any confidential or secret knowledge or information of the Company
which Executive has acquired or become acquainted with or will acquire or become
acquainted with during the period of his/her employment by the Company, whether
developed by himself/herself or by others, concerning any trade secrets,
confidential or secret designs, processes, formulae, plans, devices or material
(whether or not patented or patentable) directly or indirectly useful in any
aspect of the business of the Company, any confidential or secret development or
research work of the Company, or any other confidential information or secret
aspects of the business of the Company. Executive expressly acknowledges that,
in addition to the Company's proprietary software and technical know-how, the
Company's customer lists and the form (including, without limitation, payment
terms) of the Company's relationships with its customers is not publicly known
and that the disclosure or use of such information for any purpose other than
for the benefit of the Company could cause substantial damage the Company and
would place the Company at a competitive disadvantage. Executive acknowledges
that the above-described knowledge or information constitutes a unique and
valuable asset of the Company and that any disclosure or other use of such
knowledge or information other than the sole benefit of the Company would be
wrongful and would cause irreparable harm to the Company. The foregoing
obligations of confidentiality shall not apply to any knowledge or information
which is now published, which subsequently becomes generally publicly known,
other than as a direct or indirect result of the breach of this Agreement by
Executive, or which was known to the Executive prior to the term of his/her
employment with the Company. Executive agrees to notify any person or entity
with which Executive is employed or for which Executive provides services of the
requirements of this Section 5 and to notify the Company of the identity of any
such person or entity with which Executive is employed during the One year after
termination of this Agreement.

6. Employee Solicitation. During employment, and for a period of nine months
thereafter, Executive shall not (i) directly or indirectly solicit any employee
of the Company or any of Company's affiliates to leave the employ of any such
entity or in any way interfere adversely with the relationship between any such
employee and any such entity, (ii) directly or indirectly solicit any employee
of the Company or any affiliates to work for, render services or provide advice
to or supply confidential business information or trade secrets of any such
entity to any third person, firm or corporation, or (iii) directly or indirectly
solicit any existing customers and potential customers that have an unexpired
written proposals under consideration. For purposes of the foregoing,
solicitation shall not include solicitation of employees, vendors or customers
(i) who first solicit employment or a relationship from Executive, or (ii) who
are solicited (A) by advertising in periodicals of general circulation or by
general circulation Internet advertising, or (B) by a search or consulting firm
on behalf of Executive or Executive's affiliates, so long as Executive or such
affiliates did not direct or encourage such firm to solicit such employee,
vendor or customer of the Company. If any restriction set forth in this
paragraph is held to be unreasonable, then Executive and the Company agree, and
hereby submit, to the reduction and limitation of such prohibition to such area
or period as shall be deemed reasonable.

<PAGE>   4

         7.       Patent and Related Matter.

         7.01     Disclosure and Assignment. Executive will promptly disclose in
         writing to the Company complete information concerning each and every
         invention, discovery, improvement, work of authorship, device, design,
         apparatus, practice, process, method or product whether patentable or
         not, made, developed, authored, perfected, devised, conceived or first
         reduced to practice by Executive, either solely or in collaboration
         with others, during the term of this Agreement, whether or not during
         regular working hours, relating to the Business of the Company
         (hereinafter referred to as "Developments"). Executive, to the extent
         that he/she has the legal right to do so, hereby acknowledges that any
         and all of said Developments are the property of the Company and hereby
         assigns and agrees to assign to the Company any and all of Executive's
         right, title and interest in and to any and all of such Developments.

         7.02     Limitation on Section 7.01. The provisions of section 7.01
shall not apply to any Development meeting the following conditions:

                           (a)   such Development was developed entirely on
                                 Executive's own time; and

                           (b)   such Development was made without the use of
                                 any Company equipment, supplies, facility or
                                 trade secret information, excluding Executives
                                 laptop; and

                           (c)   such Development does not relate (I) directly
                                 to the Business of the Company, or (ii) to the
                                 Company's actual or demonstrably anticipated
                                 research or development; and

                           (d)   such Development does not result from any work
                                 performed by Executive for the Company.

         7.03 Assistance of Executive. Upon request and without further
compensation therefor, but at no expense to Executive, and whether during the
term of this Agreement or thereafter, Executive will do all lawful acts,
including, but not limited to, the execution of papers and lawful oaths and the
giving of testimony, that in the opinion of the Company, its successors and
assigns, may be necessary or desirable in obtaining, sustaining, reissuing,
extending and enforcing United States and foreign patents and/or registrations
including, but not limited to, design patents, on any and all of such
Developments (other than those described in 7.02), and for perfecting affirming
and recording the Company's complete ownership and title thereto, and to
cooperate otherwise in all proceedings and matters relating thereto.

         7.04 Obligations, Restrictions and Limitations. Executive understands
that the Company may enter into agreements or arrangements with agencies of the
United States Government, and that the Company may be subject to laws and
regulations which impose obligations, restrictions and limitations on it with
respect to inventions and patents which may be acquired by it or which may be
conceived, authored or developed by employees, consultants or other agents
rendering services to it. Executive agrees that he/she shall be bound by all
such obligations, restrictions and limitations applicable to any such invention
or work of authorship conceived, authored or developed by him/her during the
term of this Agreement and shall take any and all further action which may be
required to discharge such obligations and to comply with such obligations and
to comply with such restrictions and limitations.

         8.       Termination

                  8.01     Grounds for Termination.  This Agreement may be
terminated:

                           (a)   by the Company, if Executive dies, or

                           (b)   by the Executive, if Executive becomes disabled
                                 (as defined below), or

                           (c)   by the Company, if the Executive has engaged in
                                 conduct constituting cause for his/her
                                 termination and the Company notifies Executive
                                 in writing of such election, or

<PAGE>   5

                           (d)   by the Company without cause upon notice to the
                                 Executive in writing of such election, provided
                                 that such termination may only occur by
                                 unanimous decision of the Board of Directors if
                                 there are then three or fewer Directors or by a
                                 majority decision of the Board of Directors if
                                 there are then four or more Directors.

                           (e)   by the Executive, if the Executive is
                                 constructively terminated, as defined in
                                 paragraph 8.01(2) herein and the Executive has
                                 notified the Company of his/her election to
                                 terminate for Constructive Termination, or

                           (f)   by the Executive upon notice to the Company in
                                 writing of such election.

         If this Agreement is terminated pursuant to subsection (a), (b), (c),
         (e) or (f) of this section 8.01, such termination shall be effective
         immediately. If this Agreement is terminated pursuant to subsection (d)
         of this section 8.01, such termination shall be effective thirty (30)
         days after delivery of the notice of termination.

                  (1) "Cause" Defined.  "Cause" means:

                           (a)   The Employee has breached the provisions of
                  Section 5, 6 or 7 of this Agreement in any material respect,

                           (b)   The Executive has engaged in willful and
                  material misconduct, including willful and material failure to
                  perform the Employee's duties as an officer or employee of the
                  Company and has failed to cure such default within 30 days
                  after receipt of written notice of default from the Company,

                           (c)   The Executive has committed fraud,
                  misappropriation or embezzlement in connection with the
                  Company's business, or

                           (d)   Executive has been convicted or has pleaded
                  nolo contendere to criminal misconduct that is detrimental to
                  the Company's reputation or that calls into question, in the
                  judgement of the Board, Executive's integrity in fulfilling
                  his/her duties under this Agreement.

                  In the event the Company terminates Executive's employment for
         "cause" pursuant to subsection 8.01 and Executive objects in writing to
         the Board's determination that there was proper "cause" for such
         termination within (30) days after Executive is notified of such
         termination, the matter shall be resolved by arbitration in accordance
         with the provisions of section 10.01. If Executive fails to object to
         any such determination of "cause" in writing within such thirty (30)
         day period, he/she shall be deemed to have waived his/her right to
         object to that determination. If such arbitration determines that there
         was not proper "cause" for termination, such termination shall be
         deemed to be a termination pursuant to subsection 8.01(d).

                  (2) "Constructive Termination" defined. Constructive
         Termination means termination by Executive after written notice to the
         Company that Executive deems such termination by Executive as a result
         of Constructive Termination, and only after:

                           (a)   A material breach by the Company of a material
                                 obligation of the Company under this Agreement
                                 after the Executive has given the Company
                                 written notice of the breach and the Company
                                 has not remedied the breach within 30 days;

                           (b)   A failure of the Company to pay when due to the
                                 Executive any annual base salary, annual bonus
                                 or other earned bonus or awards or commissions
                                 referred to in this Agreement;

<PAGE>   6

                           (c)   The relocation of the Executive's principal
                                 place of employment to a location not within a
                                 30 mile radius of such place of employment on
                                 the Effective Date;

                           (d)   A material reduction by the Company of the
                                 Executive's duties or responsibilities;

                           (e)   The failure of the Company to obtain an
                                 agreement reasonably satisfactory to the
                                 Executive from any successor to assume and
                                 agree to perform this Agreement , or, if the
                                 business for which the Executive's services are
                                 principally performed is sold or transferred,
                                 the failure of the Company to obtain such an
                                 agreement from the purchaser or transferee of
                                 such business; or

                           (f)   The Company becomes insolvent or bankrupt where
                                 executive can no longer perform his/her duties
                                 as outlined above.

                  In the event the Executive terminates Executive's employment
         for "Constructive Termination" pursuant to subsection 8.01 and the
         Company objects in writing to the Executive's determination that there
         was Constructive Termination within (30) days after Executive has
         notified the Company of the same, the matter shall be resolved by
         arbitration in accordance with the provisions of section 10.01. If the
         Company fails to object to any such determination of "Constructive
         Termination" in writing within such thirty (30) day period, it shall be
         deemed to have waived its right to object to that determination. If
         such arbitration determines that there was not proper "Constructive
         Termination", such termination shall be deemed to be a termination
         pursuant to subsection 8.01(c).

                  8.02 "Disability" Defined. For purposes of this Agreement, the
                  term "disabled" means any mental or physical condition which
                  renders Executive unable to perform the essential functions of
                  his/her positions, with or without reasonable accommodation,
                  for a period of more than ninety (90) days during any
                  consecutive one hundred twenty (120) day period.

                  8.03 Surrender of Records and Property. Upon termination of
                  his/her employment with the Company, Executive shall deliver
                  promptly to the Company all records, manual, book, blank
                  forms, document, letters, memoranda, notes, notebooks,
                  reports, data, tables, calculations or copies thereof, which
                  are the property of the Company or which relate in any way to
                  the business, products, practices or techniques of the
                  Company, and all other property, trade secrets and
                  confidential information of the Company, including, but not
                  limited to, all documents which in whole or case are in
                  his/her possession or under his/her control.

         8.04 Wage and Benefit Continuation. If Executive's employment by the
Company is terminated pursuant to subsection 8.01 (d) or 8.01(e), the Company
shall continue to pay to Executive a total compensation of $450,000 payable in
equal twice-monthly installments over a 9 month period after termination and
shall continue to provide health insurance benefits for Executive for a period 9
months after termination. Notwithstanding anything else in this Section 8.04,
Executive shall not be entitled under this Section 8.04 or any other provision
of this Agreement to receive any cash compensation pursuant to this Agreement
which constitutes an "excess parachute payment" within the meaning of Section
280G of the Internal Revenue Code of 1986, as amended, or any successor
provision or regulations promulgated.

If this Agreement is terminated pursuant to subsection 8.01 (a), 8.01 (c), or
8.01 (f), Executive's right to base salary and benefits shall immediately
terminate except as may otherwise be required by applicable law.

9.       Indemnification and Directors & Officers Insurance

         9.01 Indemnification. The Company will provide Executive
indemnification, exculpation and expense advancement, to the fullest extent of
the law, including, without limitation, entering into an indemnification
agreement with Executive in at least as beneficial a form to Executive as the
Company has entered into with any other officer or director of the Company.

<PAGE>   7

     9.02      Directors and Officers Insurance. The Company will provide, at
its expense, Directors and Officers (D&O) insurance in an amount deemed
appropriate by its Board of Directors and Officers. If the Company shall show
any employee as a named insured under such policy, the Executive shall be a
named insured under such policy.

10.      Settlement of Disputes.

         10.01 Arbitration. Except as provided in section 10.02 any claims or
disputes of any nature between the Company and Executive arising from or related
to the performance, breach, termination, expiration, application, or meaning of
this Agreement or any related matter relating to Executive's employment and the
termination of that employment by the Company shall be resolved exclusively by
arbitration in Denver, CO, in accordance with the then applicable rules of the
American Arbitration Association. Any such arbitration shall be conducted by an
arbitrator with said Rules, who has at least ten (10) years experience as an
attorney in executive compensation and employment law. The fees of the
arbitrator (s) and other cost, including attorney fees, incurred by Executive
and the Company in connection with such arbitration shall be paid by the party
who is unsuccessful in such arbitration, as determined by the arbitrator. The
decision if the arbitrator(s) shall be final and binding upon both parties.
Judgement of the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction thereof. In the event of submission of any dispute to
arbitration, each party shall, not later than thirty (30) days prior to the date
set forth hearing, provide to the other party and to the arbitrator(s) a copy of
all exhibits upon which the party intends to rely at the hearing and a list of
all persons each party intends to call at the hearing.

         10.02 Resolution of Certain Claims- Injunctive Relief. Section 10.01
shall have no application to claims by the Company asserting a violation of
section 5, 6, 7 or 8.03 or seeking to enforce, by injunction or otherwise, the
terms of section 5, 6, 7 or 8.03. Such claims may be maintained by the Company
in a lawsuit subject to the terms of section 10.03. Executive agrees that, in
addition to, but not to the exclusion of any other available remedy, the Company
shall have the right to enforce the provisions of sections 5, 6, 7 and 8.03 by
applying for and obtaining temporary and permanent restraining orders
injunctions from a court of competent jurisdiction without the necessity of
filing a bond therefor and without the necessity of proving actual damages, and
the Company shall be entitled to recover from the Employee its reasonable
attorneys' fees and costs in enforcing the provisions of Sections 5, 6, 7 and
8.03.

         10.03 Venue. Any action at law, suit in equity, or judicial proceeding
arising directly or indirectly, or otherwise in connection with, out of, related
to or from this Agreement or any provisions hereof shall be litigated only in
the courts of the State of California. Executive waives any right the Executive
may have to transfer or change the venue of any litigation brought against
Executive by the Company.

         10.04 Severability. To the extent any provisions of this Agreement
shall be invalid or unenforceable, it shall be considered deleted herefrom and
the remainder of such provisions and if this Agreement shall be unaffected and
shall continue in full force and effect. In furtherance and not in limitation of
the foregoing, should the duration or geographical extent of, or business
activities covered by, any provisions of this Agreement be in excess of that
which is valid and enforceable under applicable law, then such provisions shall
be construed to cover only that duration, extent or activities which may validly
and enforceably be covered. Executive acknowledges the uncertainty of the law in
respect and expressly stipulates that this Agreement be given the construction
which renders its provisions valid and enforceable to the maximum extent (not
exceeding its express terms) possible under applicable law.

11       Miscellaneous.

         11.01 Governing Law. This Agreement is made under and shall be governed
by and construed in accordance with the laws of the State of California.

         11.02 Prior Agreements. Except as set forth in Section 1, this
Agreement contains the entire agreement of the parties relating to the
employment of Executive by the Company and the ancillary matters discussed
herein and supersedes all prior agreements and undertakings with respect to such
matters, and the parties hereto made no arrangements, representations or
warranties relating to such employment or ancillary matters which are not set
forth herein.

<PAGE>   8

         11.03 Withholding Taxes. The Company may withhold from any benefits
payable under this Agreement all federal, state, city or other taxes shall be
required pursuant to any law governmental regulation, or ruling or any other
amount owed to the Company.

         11.04 Amendments. No amendment or modification of this Agreement shall
be deemed effective unless made in writing and signed by the both Executive and
Company.

         11.05 No Waiver. No term or condition of this Agreement shall be deemed
to have been waived, nor shall there be any estoppel to enforce any provisions
of this Agreement, except by a statement in writing signed by the party against
whom enforcement of the waiver or estoppel is sought. Any written waiver shall
not be deemed a continuing waiver unless specifically stated, shall operate only
as to specific term or condition waived and shall not constitute a waiver of
such term or condition for the future or as to any act other than that
specifically waived.

         11.06 Assignment. This Agreement shall not be assignable, in whole or
in part, by either party without the written consent of the other party, except
that the Company may, without the consent of the Executive, assign its rights
and obligations under this Agreement to any corporation, firm or other business
entity with or into which the Company may merge or consolidate, or to which the
Company may sell or transfer all or substantially all of its assets, or of which
50% or more of the equity investment and of the voting control is owned,
directly or indirectly, by, or is under common ownership with, the Company;
provided, however, that no such assignment will relieve Company of any of its
obligations hereunder. After any such assignee shall thereafter be deemed to be
the Company for the purposes of all provisions of this Agreement including
section 9.

         11.07 Counterparts. This Agreement may be simultaneously executed in
any number of counterparts, and such counterparts executed and delivered, each
as an original, shall constitute but the same instrument.

         11.08 Notices. All notices, demands and other communications to be
given or delivered under or by reason of the provisions of this Agreement will
be in writing and will be deemed to have given when personally delivered or
three days after being mailed, if mailed, by first class mail, return receipt
requested, or when receipt is acknowledged, if sent by facsimile, telecopy or
other electronic transmission device. Notices, demands and communications to
Company and the Executive will, unless another address is specified in writing ,
be sent to the address indicated below:

         Notices to Company:                        Notice to Executive:
         Stockpoint, Inc.                           ________________
         2600 Crosspark Road                        ________________
         Coralville, Iowa 52241                     ________________
         Attn: President

         11.09 Captions and Headings. The captions and paragraph headings used
in this Agreement are for convenience of reference only, and shall not affect
the construction or interpretation of this Agreement or any of the provisions
hereof.

                  11.10 Effect of Termination. It is expressly understood that
neither the Company nor the Executive shall have any continuing obligation under
this agreement upon termination hereof, except in respect of the matters
referenced in Sections 5, 6, 7 and 8.03.

<PAGE>   9

         IN WITNESS WHEREOF, Executive and the Company have executed this
Agreement as of date set forth herein.

                                    Stockpoint, Inc.

                                    By: /s/  William E. Staib
                                       ---------------------------
                                    Its  CEO
                                       ---------------------------

                                    EXECUTIVE
                                     /s/  Luan Cox
                                    -----------------------------
                                    Luan Cox

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