EX-10.17 3 doc2.txt Exhibit 10.17 [LETTERHEAD OF LOCATEPLUS HOLDINGS CORPORATION] August 5, 2003 Douglas H. Leighton A Managing Member Dutchess Private Equities Fund, L.P. 312 Stuart St. Boston, MA 02116 Dear Mr. Leighton: For good and valuable consideration, the receipt of which is acknowledged, you agree (i) to terminate the Investment Agreement, dated June 2, 2003, and the Registration Agreement, dated June 2, 2003 (collectively, the "Agreements") between LocatePLUS Holdings Corporation ("LocatePLUS") and Dutchess Private Equities Fund, L.P. ("Dutchess"); and (ii) to release and discharge LocatePLUS from any and all obligations to Dutchess or any of its agents arising from either of the Agreements. Agreed and Accepted /S/ Douglas H. Leighton --------------------------- By Douglas H. Leighton A Managing Member Regards, /S/ James C. Fields --------------------------- James C. Fields VP of Finance and Acting CFO