SETTLEMENT AGREEMENT AND MUTUAL RELEASESettlement Agreement and Mutual Release • January 7th, 2010 • Clark Holdings Inc. • Transportation services • New York
This Settlement Agreement and Mutual Release (the “Settlement Agreement”) is made and entered into as of December 31, 2009 by and between Clark Holdings, Inc. f/k/a Global Logistics Acquisition Corporation (“Clark”), The Clark Group, Inc. (“Clark Group”), Donald G. McInnes, Gregory E. Burns, Brian Bowers, Edward W. Cook, Maurice Levy, Charles H. “Skip” Fischer III, Brian Gillen, Stephen M. Spritzer,1 on the one hand, and Charles C. Anderson, Jr., or in his absence Jay Maier, as representative of the sellers of the capital stock of Clark Group (the “Representative”), Cherokee Capital Management, LLC (“Cherokee”), Joel R. Anderson, Charles C. Anderson, Jr., Delaware ESBT for Charles C. Anderson, Jr., Terry C. Anderson, Clyde B. Anderson, Harold M. Anderson, Charles C. Anderson III, Frank Stockard, Bill Lardie, Jay Maier, Delaware ESBT for Jay Maier, David Gillis, John Barry and Timothy Teagan,2 on the other hand. The parties hereto are sometimes collectively referred to herein as the “Pa
