SETTLEMENT AGREEMENT AND MUTUAL RELEASESettlement Agreement • April 10th, 2019 • Enservco Corp • Oil & gas field services, nec • Colorado
This Settlement Agreement and Mutual Release (this “Agreement”) is entered into as of April 4, 2019 (the “Effective Date”) by and among (i) Adler Hot Oil Holdings, LLC, a Delaware limited liability company, and Adler Hot Oil Holdings Liquidating Trust, a Minnesota trust, an assignee of Adler Hot Oil Holdings, LLC (collectively, “Seller”), (ii) Adler Hot Oil Service, LLC, a Delaware limited liability company (the “Company”), (iii) Enservco Corporation, a Delaware corporation (“Buyer”) and (iv) Spell Capital Mezzanine Partners SBIC, LP, a Delaware limited partnership (“Spell”), Aldine Capital Fund II, L.P., a Delaware limited partnership (“Aldine Capital”), Aldine SBIC Fund, L.P., a Delaware limited partnership (“Aldine SBIC”), EXMARQ Capital Partners, Inc., a Minnesota corporation (“Exmarq”), and United Insurance Company of America, an Illinois corporation (“Kemper” and together with Spell, Aldine Capital, Aldine SBIC and Exmarq, collectively the “Members”). The Seller and the Members a
