SETTLEMENT AGREEMENT AND MUTUAL RELEASESettlement Agreement • December 13th, 2005 • Velocity Express Corp • Air courier services • California
This Settlement Agreement and Mutual Release (the “Agreement”) is entered into as of December __, 2005 by and among Velocity Express, Inc., formerly known as Corporate Express Delivery Systems (“VEI”), Velocity Express Corporation (“VEC” and, together jointly and severally with VEI, “Velocity”), Banc of America Commercial Finance Corporation (“BACFC”), Banc of America Leasing & Capital, LLC (“BALC”), John Hancock Life Insurance Company (“JHLIC”), Hancock Mezzanine Partners, L.P. (“HMP” and, together jointly and severally with BACFC, BALC and JHLIC, the “Lenders”), Charles F. Short, III, Sidewinder Holdings, Ltd. and Sidewinder, N.A., Ltd (“Sidewinder NA” and, together jointly and severally with Charles F. Short, III and Sidewinder Holdings, Ltd., the “Sidewinder Parties”).
