Document:

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                                                                    EXHIBIT 10.2

                              CONSULTING AGREEMENT

   This Consulting Agreement (the "Agreement") is entered into this 10th day of
August, 2001, by and between G. LYNN BOGGS (the "Consultant") and PRIVATE
BUSINESS, INC., a Tennessee corporation (the "PBI").

   WHEREAS, Towne Services, Inc. ("Towne") and PBI have agreed to a business
combination (the "Merger") whereby Towne would merge with and into a subsidiary
of PBI, with Towne being the surviving entity in the merger and a direct
wholly-owned subsidiary of PBI;

   WHEREAS, the Consultant was the Chief Executive Officer of Towne prior to the
Merger and resigned from such position upon consummation of the Merger;

   WHEREAS, PBI desires for Consultant to remain and assist with PBI's
post-Merger transition; and

   WHEREAS, PBI has agreed to retain the Consultant to assist in such
transition, and the Consultant has agreed to do so, subject to the terms and
conditions of this Agreement.

   NOW, THEREFORE, for and in consideration of the amounts set forth below and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

1. Engagement as Consultant. PBI hereby retains Consultant, and Consultant
hereby accepts engagement by PBI, on the terms and conditions specified herein.

2. Term. The term of this Agreement shall be for a period commencing on August
10, 2001 and continuing for a term of six (6) months (the "Term").

3. Duties of Consultant. Consultant shall assist PBI with regard to transition
matters related to the Merger. Consultant shall assume such duties as are
reasonably requested by PBI, provided that such duties and responsibilities are
agreeable to Consultant.

4. Compensation. Consultant shall be paid at the rate of Four Hundred Thousand
Dollars ($400,000) per year, or a total of Two Hundred Thousand Dollars
($200,000) during the Term, paid in accordance with the then current payroll
policies of PBI.

5. Covenant Not To Compete. During the Term and for a period of twelve (12
months following termination of this Agreement (the "Restricted Period"),
Consultant covenants and agrees that he will not, without the express approval
of PBI, directly or indirectly anywhere in the continental United States, engage
in any activity which is, or participate or invest in, or provide or facilitate
the provision of financing to, or assist (whether as owner, shareholder, member,
partner,

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director, officer, trustee, employee, agent or consultant, or in any other
capacity), any business, organization or person other than PBI (or any
subsidiary or affiliate of PBI) whose business, activities, products or services
(collectively, "Business Activities") are competitive with either (i) any of the
Business Activities conducted or offered by PBI or its subsidiaries or
affiliates, as of or on the effective date, which Business Activities shall
include in any event and without limitation providing software products and
marketing, training, management, billing, collection and insurance brokerage
services to entities in the business of purchasing or financing accounts
receivable or in the factoring business, or (ii) any other Business Activities
which PBI or its subsidiaries or affiliates conducts or offers on, or is
actively planning and actually conducting or offering as of or on the effective
date. Notwithstanding the foregoing, Consultant may own, directly or indirectly,
solely as an investment, securities of any entity if Consultant (a) is not a
controlling person with respect to such entity and (b) does not, directly or
indirectly, own five percent (5%) or more of any class of the securities of such
entity. Notwithstanding, the provisions contained in this Section 5 shall not be
binding on the Consultant if, during the Restricted Period, PBI materially
breaches the terms of this Agreement, and such material breach is not cured by
PBI within ten (10) days following receipt of a written notice from Consultant
which describes in detail the nature of the material breach. As a consideration
for the obligations of Consultant pursuant to this Section 5, PBI agrees to pay
Consultant Three Hundred Twenty Thousand Dollars ($320,000). Such payment shall
be in addition to the compensation described in Section 2 and shall be made by
PBI to the Consultant in good funds upon termination of the Term.

6. Trade Secrets; Confidential Information. Consultant covenants and agrees
that, at all times during and after the Term, he shall keep secret and not
disclose to others or appropriate to his own use or the use of others any trade
secrets, or secret or confidential information or knowledge pertaining to the
business affairs of PBI or any of its affiliates including without limitation
trade know-how, trade secrets, consultant contracts, customer lists, pricing
policies, operational methods, marketing plans or strategies, product
development techniques or plans, business acquisition plans, new personnel
acquisition plans, technical processes, designs and design projects, inventions
and research projects; provided, however, that any disclosure reasonably
believed by Consultant to be compelled by law or legal process shall not
constitute a breach or violation of this section. Information shall not be
deemed confidential or secret for purposes of this Agreement if it is generally
known in the industry.

7. Rights and Remedies Upon Breach. If Consultant breaches, or threatens to
commit a breach of, any of the provisions of Sections 5 or 6 of this Agreement
(collectively, the "Restrictive Covenants"), PBI shall have the right and remedy
to have any of the Restrictive Covenants specifically enforced by any court
having jurisdiction in Tennessee, it being hereby acknowledged and agreed by
Consultant and that money damages will not provide an adequate remedy to PBI,
which rights shall be in addition to, and not in lieu of, any other rights and
remedies available to PBI.

8. Notice. All notices, requests, demands and other communications given under
or by reason of this Agreement shall be in writing and shall be deemed given
when delivered in person or when mailed, by certified mail (return receipt
requested), postage prepaid, addressed as follows (or to such other address as a
party may specify by notice pursuant to this provision):

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                           (a)   To PBI:

                                 Private Business, Inc.
                                 9010 Overlook Boulevard
                                 Brentwood, Tennessee 37027
                                 Attention: Chairman

                           (b)   To Consultant:

                                 G. Lynn Boggs
                                 #9 Governors Way
                                 Brentwood, Tennessee 37027

9. Controlling Law and Performability. The execution, validity, interpretation
and performance of this Agreement shall be governed by the laws of the State of
Tennessee.

10. Arbitration. Any dispute or controversy arising under or in connection with
this Agreement shall be settled by arbitration in Nashville, Tennessee. In the
proceeding the Consultant shall select one (1) arbitrator, PBI shall select one
(1) arbitrator and the two (2) arbitrators so selected shall select a third
(3rd) arbitrator. The decision of a majority of the arbitrators shall be binding
on the Consultant and PBI. Should one party fail to select an arbitrator within
five (5) days after notice of the appointment of an arbitrator by the other
party or should the two (2) arbitrators selected by the Consultant and PBI fail
to select an arbitrator within ten (10) days after the date of the appointment
of the last of such two (2) arbitrators, any person sitting as a Judge of the
United States District Court for the Middle District of Tennessee, Nashville
Division, upon application of the Consultant or PBI, shall appoint an arbitrator
to fill such space with the same force and effect as though such arbitrator had
been appointed in accordance with the first sentence of this Paragraph 10. Any
arbitration proceeding pursuant to this Paragraph 10 shall be conducted in
accordance with the rules of the American Arbitration Association. Judgment may
be entered on the arbitrators' award in any court having jurisdiction.

11. Additional Instruments. The parties shall execute and deliver any and all
additional instruments and agreements that may be necessary or proper to carry
out the purposes of this Agreement.

12. Entire Agreement and Amendments. This Agreement contains the entire
agreement of the Parties relating to the matters contained herein and supersedes
all prior agreements and understandings, oral or written, between the Parties
with respect to the subject matter hereof. This Agreement may be changed only by
an agreement in writing signed by the Party against whom enforcement of any
waiver, change, modification, extension or discharge is sought. Parties
acknowledge the entering into of the Separation Agreement between Boggs and
Towne.

13. Severability. If any provision of the Agreement is rendered or declared
illegal or unenforceable by reason of any existing or subsequently enacted
legislation or by the decision of any arbitrator or by decree of a court of last
resort, the parties shall promptly meet and negotiate
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substitute provisions for those rendered or declared illegal or unenforceable to
preserve the original intent of this Agreement to the extent legally possible,
but all other provisions of this Agreement shall remain in full force and
effect.

14. Assignments. PBI may assign this Agreement and in the event of an assignment
of this Agreement, all covenants, conditions and provisions hereunder shall
inure to the benefit of and be enforceable against PBI's successors and assigns.
The rights and obligations of Consultant under this Agreement are personal to
him, and no such rights, benefits or obligations shall be subject to voluntary
or involuntary alienation, assignment or transfer.

15. Effect of Agreement. Subject to the provisions of Paragraph 14 with respect
to assignments, this Agreement shall be binding upon the Consultant and his
heirs, executors, administrators, legal representatives and assigns and upon PBI
and respective successors and assigns.

16. Execution. This Agreement may be executed in multiple counterparts each of
which shall be deemed an original and all of which shall constitute one and the
same instrument.

17. Waiver of Breach. The waiver by either party of a breach of any provision of
the Agreement by the other Party shall not operate or be construed as a waiver
by such party of any subsequent breach by such other party.

   IN WITNESS WHEREOF, the parties have executed this Agreement effective as set
forth above.

                                    PRIVATE BUSINESS, INC.

                                    By: /s/ Thomas L. Black
                                        ----------------------------------------
                                        Thomas L. Black, President

                                    CONSULTANT

                                    /s/ G. Lynn Boggs
                                    --------------------------------------------
                                    G. LYNN BOGGS<PAGE>

                                                                    EXHIBIT 10.3

[ABBOTT LETTERHEAD]

September 4, 2001

VIA FACSIMILE

Mr. Mark Samuels
Chairman & CEO
SpectRx, Inc.
6025 A Unity Drive
Norcross, Georgia  30071

         Re:      Amendment to the Research & Development License Agreement
                  (October 10, 1996) as previously amended by the parties ("RDL
                  Agreement")

Dear Mark:

In accordance with our recent discussions, Abbott hereby delivers the
Development Program Notification to SpectRx pursuant to the RDL Agreement, and
Abbott and SpectRx (the "Parties") hereby amend the terms of the RDL Agreement
as follows:

1.                Abbott and SpectRx hereby acknowledge the termination of
         Abbott's rights to and all obligations for the Non-Continuous Product
         (as defined in the Third Amendment to the RDL Agreement, dated November
         30, 1999, ("Third Amendment")) and SpectRx affirms Abbott's right of
         first negotiation pursuant to the terms of section 4.5 of the Third
         Amendment for distribution of any Non-Continuous Product developed by
         SpectRx.

2.                The following additional amendments are made to the RDL
         Agreement:

         a)                Abbott shall be required to pay the first $1 million
                  of the $2 million Milestone due under section 5.1(A)(3) of the
                  Third Amendment by purchasing SpectRx common stock under
                  Section 1 of the Common Stock Purchase

* Confidential portions omitted and filed separately with the Commission
pursuant to an application for confidential treatment pursuant to Rule 24b-2
under the Securities and Exchange Act of 1934, as amended.

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                  Agreement (Appendix 5.1 of the Third Amendment, as further
                  amended by the December 27, 2000 letter agreement between
                  SpectRx and Abbott).

         b)       The second $1 million of the $2 million Milestone due under
         Section 5.1(A)(3) of the Third Amendment shall not be due unless and
         until ten (10) business days following delivery of written notice by
         SpectRx to Abbott of a final decision or settlement of all viable
         claims alleged by Altea Technologies, Inc. ("Altea") and
         Non-Invasive-Monitoring Company, Inc. ("NIMCO") against SpectRx in the
         Demand for Arbitration in the arbitration proceeding ("Arbitration")
         currently underway with Altea and NIMCO, and provided that SpectRx's
         rights to sublicense the Technology (as defined in the RDL Agreement,
         as amended) are not terminated [ * ].

         c)       In the event that there is a final decision or settlement of
         the Arbitration pursuant to which SpectRx's rights to sublicense the
         Technology are terminated [ * ] then SpectRx shall, within ten (10)
         business days after such decision or settlement, send Abbott a written
         notice of such decision or settlement and pay to Abbott a sum equal to
         the difference between $1 million and the fair market value of the
         shares of SpectRx common stock purchased by Abbott under Section 2(a)
         above, such fair market value to be calculated based on the average
         closing sale price of SpectRx common stock as reported on the Nasdaq
         National Market over the forty five (45) trading days subsequent to the
         Public Disclosure of the decision or settlement. For this purpose,
         Public Disclosure shall mean an appropriate filing with the SEC or/and
         distribution of a press release through a widely disseminated news or
         wire service that is reasonably designed to provide broad public
         access.

         d)       Each time period specified in Section 3.7(A) of the Third
         Amendment shall be extended until the earlier of (i) March 31, 2002, or
         (ii) the date on which the product specifications (as defined in
         Appendix 2.7 of the Third Amendment) have been successfully achieved.

         e)       Abbott will assume full funding responsibility for the portion
         of the Development Program regarding the Continuous Product as of
         September 1, 2001. As set forth in the Third Amendment, Abbott will not
         be responsible for any funding regarding the Non-Continuous Product
         from the date hereof.

                                       2

* Confidential portions omitted and filed separately with the Commission
pursuant to an application for confidential treatment pursuant to Rule 24b-2
under the Securities and Exchange Act of 1934, as amended.

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3.                In consideration of the various agreements made in this
         amendment, Abbott unconditionally and irrevocably waives, for itself
         and its successors and assigns, its right to cause a redemption, at its
         election pursuant to Section (d)(1) of the Designations, Preferences
         and Rights of Redeemable Convertible Preferred stock of SpectRx, Inc.
         (the "Designations"), of, and as to, 100,000 shares of Redeemable
         Convertible Preferred Stock, par value $0.001 per share (i.e., 100,000
         shares of the total 525,000 shares of Redeemable Convertible Preferred
         stock held by Abbott), and agrees not to make such election in respect
         of such 100,000 shares. Abbott agrees, should it at any time transfer
         its shares of Redeemable Convertible Preferred Stock, to inform the
         transferee of the foregoing waiver, and to agree that SpectRx may place
         a legend on the share certificate(s) for 100,000 of its 525,000 shares
         of Redeemable Convertible Preferred Stock referencing the applicability
         of the waiver provided for hereinabove and referring to this amendment.
         The Parties agree that the exclusion of such 100,000 shares from
         Abbott's redemption election by virtue of Abbott's waiver in respect
         thereof will reduce the number of shares redeemable at Abbott's
         election under Section (d)(1) of the Designations on December 31, 2002
         from one-half of the shares (i.e., 262,500 shares) to 162,500 shares of
         Redeemable Convertible Preferred Stock; the shares that would be
         required to be redeemed in 2004 under such election would remain
         unchanged, being one-half of the total (i.e., 262,500 shares). In
         partial consideration for the foregoing waiver, SpectRx unconditionally
         and irrevocably waives, as to the 100,000 shares of Redeemable
         convertible Preferred Stock referenced above, its right to cause, at
         its election pursuant to Section (d)(2) of the Designations, a
         redemption of such shares. Nothing contained in the foregoing waivers
         and agreements shall effect or otherwise amend or limit the redemption
         election rights of Abbott, or its successors or assigns, or SpectRx,
         with respect to all of the shares of Redeemable Convertible Preferred
         Stock now held by Abbott other than the 100,000 shares that are the
         subject of this paragraph 3. Abbott further agrees to execute and
         deliver a shareholder consent which SpectRx may later require to obtain
         the consent of Abbott as the holder of all of the issued shares of the
         Company's Redeemable Preferred Stock to effect an amendment to the
         Designations under Delaware law, in form reasonably acceptable to
         Abbott, to revise the redemption provisions of such Designations to
         give effect (as such an amendment to the Designations) to the waivers
         and agreement set forth above, although the waivers and agreements
         provided for above are effective as of the date hereof and are not in
         any way conditioned upon any such amendment of the Designations.

                                       3

* Confidential portions omitted and filed separately with the Commission
pursuant to an application for confidential treatment pursuant to Rule 24b-2
under the Securities and Exchange Act of 1934, as amended.

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4.                Except as set forth above, all provisions of the RDL Agreement
         shall remaining full force and effect.

         Sincerely,

         /s/ James J. Koziarz

         James J. Koziarz, Ph.D.
         Corporate Vice President
         Diagnostic Products R & D
         Abbott Laboratories

                                  ACCEPTED THIS 4th DAY OF SEPTEMBER, 2001

                                           SpectRx, Inc.

                                               /s/ Mark A. Samuels
                                           -----------------------------------
                                           By:  Mark A. Samuels
                                                ------------------------------
                                                Chief Executive Officer
                                                ------------------------------

                                       4

* Confidential portions omitted and filed separately with the Commission
pursuant to an application for confidential treatment pursuant to Rule 24b-2
under the Securities and Exchange Act of 1934, as amended.

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