Chazak Value 8-K Entry into a Material Definitive Agreement

Exhibit 10.2

TecSec Incorporated

1953 Gallows Road

Vienna, Virginia, 22182

October 13, 2006

PubliCARD Inc.

New York, New York

Attention: Mr. Joe Sarachek

Dear Sir:

This letter confirms my communication with Mr. Joe Sarachek of Friday afternoon, October 13, 2006.

In conjunction with the conveyance of TecSec’s Series A Convertible Preferred heretofore held by PubliCARD Inc to Sally Port Global Corporation, TecSec confirms by this communication, its agreement to issue two and one-half percent (2 1/2 %) of common stock (fully diluted) to PubliCARD Inc. for no additional consideration. 

This calculation of 2 1/2 % is to be computed as a percentage of TecSec’s existing common stock (fully diluted) plus common stock that may be issued as a result of Sally Port Global’s financing of TecSec this year.

Very truly yours,

/s/John R. Petty

John R. Petty