Document:

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                                                                   EXHIBIT 10.78

                                SUBSCRIPTION NOTE

$______________
                                                          Minneapolis, Minnesota
                                                                   July __, 2001

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT"), OR UNDER APPLICABLE STATE SECURITIES LAWS. THIS NOTE HAS BEEN
ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND SUCH STATE LAWS OR PURSUANT
TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE LAWS, THE
AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY
WHOSE AUTHORIZED OFFICER HAS SIGNED THIS NOTE ABOVE.

     FOR VALUE RECEIVED, United Shipping & Technology, Inc., a Utah corporation,
(the "Company"), promises to pay to the order of ____________________ (together,
the "Holder"), at Holder's address specified in the Subscription Note Agreement
of even date, or at such other place as Holder may designate in writing from
time to time, the principal sum of ____________________ dollars ($__________),
in lawful money of the United States. Unless converted pursuant to Section 3
hereof, all outstanding principal on this Note shall be due and payable on
------------, ----.

     1. Subscription Note Purchase Agreement. This Note has been issued pursuant
to and is subject to the terms and provisions of a Subscription Note Purchase
Agreement (the "Agreement"), dated as of the date hereof, between the Company
and the Holder, and this Note and the Holder are entitled to all the benefits
provided for in the Agreement. The provisions of the Agreement are incorporated
herein by reference with the same force and effect as if fully set forth herein.

     2. Conversion. Prior to payment of the principal amount of this Note by the
Company, this Note may be converted as follows:

          (a) Automatic Conversion. Subject to the Company having obtained the
     approval of its shareholders pursuant to Section 2 of the Agreement, and
     the contingencies have been fulfilled pursuant to Section 3 of the
     Agreement, all of the principal balance of this Note shall be converted
     into shares of the Company's Series F Convertible Preferred Stock
     ("Conversion Shares"). The Company shall notify the Holder when such
     shareholder approval has been obtained, when the contingencies have been
     obtained, and of the automatic conversion into the Conversion Shares.
     Following the issuance of the Conversion Shares, this Note shall be deemed
     satisfied.

          (b) Conversion Procedure. Upon receipt of a conversion notice from the
     Company, Holder shall surrender this Note against delivery of the
     Conversion Shares. The number of shares issuable upon conversion shall be
     equal to the quotient of the amount converted divided by the Conversion
     Price. As promptly as possible thereafter, the Company shall issue and
     deliver to the Holder a certificate representing the number of Conversion
     Shares into which this Note has been converted. Thereupon, this Note, or
     the portion hereof converted, shall be deemed to have been satisfied and
     discharged, and the Conversion Shares into which this Note shall be so
     converted shall be fully paid and nonassessable shares. In the event a
     conversion results in the issuance of a fractional share, the Holder shall
     receive, in lieu thereof, cash payment based upon the Conversion Price. If
     less than the entire principal balance of this Note is converted, the
     Company shall deliver to the Holder a new Note of like tenor for the
     unconverted principal balance.
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          (c) Conversion Price. The Conversion Price shall be $.55 per share.

          (d) Adjustments. The Conversion Price and the number of shares into
     which the Note may be converted shall be appropriately adjusted to reflect
     any stock split, stock dividend, merger, reorganization, or similar action
     affecting the outstanding stock of the Company.

     3. Payment of Interest. This Note shall not bear any Interest.

     4. Investment Intent. Neither this Note, the Common Stock of the Company
nor the Conversion Shares have been registered under the Securities Act of 1933,
as a amended (the "Securities Act"), or under applicable state securities laws.
Other than pursuant to registration under federal and any applicable state
securities laws or an exemption from such registration, the availability of
which the Company shall determine in its sole discretion, neither this Note nor
any Conversion Shares may be sold, pledged, or otherwise disposed of unless the
Company has received from the transferee hereof such representations and
agreements as the Company shall determine in its sole discretion may be
necessary to permit such transfer, and the Company shall determine that such
transfer will not violate applicable securities laws. The Holder, by acceptance
hereof, agrees to give written notice to the Company before transferring this
Note or any Conversion Shares of the Holder's intention to do so, describing the
manner of any proposed transfer. Within 30 days after receiving written notice,
the Company shall notify the Holder as to whether such transfer may be effected
and of the conditions to any such transfer.

     5. Notices. All demands and notices to be given hereunder shall be
delivered or sent by certified mail, return receipt requested; or by courier, in
the case of the Company, to its corporate headquarters at 9850 51st Avenue
North, Suite 110, Minneapolis, Minnesota 55442, and in the case of the Holder,
addressed to the address provided in the Agreement.

     6. Miscellaneous. This Note shall be governed by the law of the State of
Minnesota, without application of conflicts of law principles. This Note shall
be binding upon, and enforceable in accordance with its terms against, the
Company and its successors and assigns.

     7. Severability. If at the time of enforcement of this Note, a Court shall
hold that any provision or rate or term stated herein is unreasonable under the
circumstances then existing, the Company agrees that a provision deemed
reasonable by the Court shall be substituted for such provision or rate or term
and the Court shall be allowed to so revise such provision.

     8. Subordination. NOTE: any capitalized terms used in this Section and not
otherwise defined in this Note shall have the meaning set forth in the Senior
Credit Agreement.

     Notwithstanding anything in this Note to the contrary, all indebtedness
evidenced by this Note shall be subordinate and junior to the Senior Debt. The
Company shall not make and the Holder shall not be permitted to ask, demand, sue
for or receive, by setoff, or otherwise, any payment hereunder; provided, that
so long as no Event of Default (as defined in the Senior Credit Agreement)
exists or would be caused thereby, the Company may pay and the Holder may
receive, regularly scheduled interest payments pursuant to this Note. After the
payment in full of all Senior Debt, the Holder shall be subrogated to the rights
of the holders of Senior Debt to receive payments or distributions of assets of
the Company payable or distributable to the holders of Senior Debt, until this
Note shall be paid in full, and as between the Company and the Holder, any such
payment by virtue of the subrogation herein provided for shall be deemed to be a
payment by the Company on account of this Note. No right of any present or
future holder of Senior Debt to enforce subordination as herein provided shall
at any time in any way be prejudiced or impaired by any act or failure to act on
the part of the Company, or by any act or failure to act in good faith by any
such holder, or by any noncompliance by the Company, with the terms, provisions
and covenants of any agreement relating to Senior Debt, regardless of any
knowledge thereof any such holder may have or be otherwise charged with.

                                       2
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     In the event of any distribution, division or application, partial or
complete, voluntary or involuntary, by operation of law or otherwise, of all or
any part of the assets of the Company or the proceeds thereof to the creditors
of the Company or readjustment of the obligations and indebtedness of the
Company, whether by reason of liquidation, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other action or
proceeding involving the readjustment of all or any part of the indebtedness
evidenced by this Note, or the application of the assets of the Company to the
payment or liquidation thereof, or upon the dissolution, liquidation, cessation
or other winding up of the Company's business, or upon the sale of all or
substantially all of the Company's assets, then, and in any such event (i) the
Lenders shall be entitled to receive payment in full of any and all of the
Senior Debt then owing prior to the payment of all or any part of the
indebtedness evidenced by this Note, and (ii) any payment or distribution of any
kind or character, whether in cash, securities or other property, which shall be
payable or deliverable upon or with respect to any or all of the indebtedness
evidenced by this Note shall be paid or delivered directly to Agent, for the
benefit of itself and the Lenders, for application on any of the Senior Debt,
due or not due, until such Senior Debt shall have first been fully paid and
satisfied. In order to enable Agent to enforce its rights hereunder in any of
the aforesaid actions or proceedings, Agent is hereby irrevocably authorized and
empowered, in its discretion, to make and present for and on behalf of the
Holder such proofs of claim against the Company on account of the indebtedness
evidenced by this Note as Agent may deem expedient or proper and to vote such
proofs of claim in any such proceeding and to receive and collect any and all
dividends or other payments or disbursements made thereon in whatever form the
same may be paid or issued and to apply the same on account of any of the Senior
Debt. the Holder irrevocably authorizes and empowers Agent, for the benefit of
itself and the Lenders, to demand, sue for, collect and receive each of the
aforesaid payments and distributions and give acquittance therefor and to file
claims and take such other actions, in Agent's own name or in the name of the
Holder or otherwise, as Agent may deem necessary or advisable for the
enforcement of this Note; and the Holder will execute and deliver to Agent, for
the benefit of itself and the Lenders, such powers of attorney, assignments and
other instruments or documents, including notes (together with such assignments
or endorsements as Agent shall deem necessary) as may be requested by Agent in
order to enable Agent to enforce any and all claims upon or with respect to any
or all of the indebtedness evidenced by this Note and to collect and receive any
and all payments and distributions which may be payable or deliverable at any
time upon or with respect to the indebtedness evidenced by this Note, all for
Agent's own benefit. Following payment in full of the Senior Debt, the Lenders
will remit to the Holder, to the extent of each of its interests therein, all
dividends or other payments or distributions paid to and held by it in excess of
the Senior Debt.

     Should any payment or distribution or security, or the proceeds of any
thereof, be collected or received by the Holder which is required to be paid to
Agent, for the benefit of itself and the Lenders, under the terms hereof, the
Holder will forthwith deliver the same to Agent, for the benefit of itself and
the Lenders, in precisely the form received (except for the endorsement without
recourse or the assignment without recourse of the Holder where necessary) and,
until so delivered, the same shall be held in trust by the Holder as the
property of the Agent, for the benefit of itself and the Lenders.

     The provisions of this Note are for the benefit of Agent and Lenders and
may be enforced directly by such entities against the Holder. The Holder
acknowledges and agrees, by acceptance hereof, that Agent and Lenders have
relied upon and will continue to rely upon the subordination provided for herein
in making the extensions of credit to the Company. The Holder hereby waives
notice of or proof of reliance hereon.

     The holders of Senior Debt may at any time and from time to time, without
the consent of or notice to the Holder, without incurring responsibility to the
Holder and without impairing or releasing the subordination provided herein or
the obligations hereunder of the Holder to such holders (i) change the manner,
place or terms of payment or extend the time of payment of, or renew or alter,
all or any of the Senior Debt, or otherwise amend or supplement in any manner,
or grant any waiver or release with respect to, Senior Debt or any instrument
evidencing the same (including, without limitation, the Senior Credit
Agreement), (ii) sell, exchange, release, not perfect or otherwise deal with any
property at any time

                                       3
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pledged, assigned or mortgaged to secure or otherwise securing, Senior Debt, or
amend or grant any waiver or release with respect to, or consent to any
departure from any guarantee for all or any of the Senior Debt, (iii) exercise
or refrain from exercising any rights against the Company and any other person,
and (iv) apply any sums from time to time received to the Senior Debt.

     The provisions of this Section shall remain in full force and effect
irrespective of (i) any lack of validity or enforceability of the Senior Credit
Agreement or Senior Debt, or (ii) any other circumstances that might otherwise
constitute a defense available to, or a discharge of Holder.

     The subordination provisions contained in this Section are solely for the
benefit of the holders of Senior Debt and may not be rescinded, canceled,
amended or modified in any way without the prior written consent thereto of such
holders.

     The provisions of this Section shall continue to be effective or be
reinstated, as the case may be, if at any time any payment of any of the Senior
Debt is rescinded or must otherwise be returned by any holder of Senior Debt
upon the insolvency, bankruptcy or reorganization of the Company or otherwise,
all as though such payment had not been made.

     9. Definitions. When used herein the following terms shall have the
following meanings:

     "Senior Debt" shall mean all amounts due and payable under the Senior
Credit Agreement and any guaranty thereof, whether outstanding as of the date of
this Note or incurred after this Note, including, without limitation, all
principal, interest, prepayment premiums, fees and expenses incurred under the
Senior Credit Agreement and any guaranty thereof. Without limiting the
foregoing, Senior Debt includes interest accruing after the commencement of
bankruptcy proceedings by or against The Company, regardless of whether allowed
by the court.

     "Senior Credit Agreement" shall mean the Credit Agreement dated as of
September 24, 1999, among Velocity Express, Inc. f/k/a UST Delivery Systems,
Inc., General Electric Capital Corporation, as a lender and as agent ("Agent")
for certain other lenders (collectively, the "Lenders"), and the other Credit
Parties signatory thereto, and all renewals, extensions, refinancings,
refundings, amendments and modification thereof.

     IN WITNESS WHEREOF, the Company has caused this Note to be executed on its
behalf by its duly authorized officer; on the day and year first above written.

                                       United Shipping & Technology, Inc.

                                       By:
                                           -------------------------------------
                                           Chief Executive Officer

                                       4<PAGE>

                                                                   EXHIBIT 10.79

                                     WARRANT

                              To Purchase Shares of
                                 Common Stock of
                       UNITED SHIPPING & TECHNOLOGY, INC.

                                                              _____________ 2001

     This Certifies that, in consideration of having purchased $_________ worth
of the Company's Series F Preferred Stock, and for other good and valuable
consideration, ________________________ (the "Warrantholder"), is entitled to
subscribe for and purchase from the Company, at any time after the contingencies
in paragraphs 2 and 3 of the Subscription Note Purchase Agreement, of even date
herewith, having been met, and prior to __________ (the "Expiration Date") up to
_________ shares of the Company's Common Stock at the Fair Market Value on the
date of funding under the Subscription Note Purchase Agreement (the "Purchase
Price"), subject to adjustment as hereinafter set forth.

     1. Definitions. For the purposes of this Warrant the following terms shall
have the following meanings:

     "Commission" shall mean the Securities and Exchange Commission, or any
other federal agency then administering the Securities Act.

     "Company" shall mean United Shipping & Technology, Inc., a Utah
corporation, and any corporation which shall succeed to, or assume, the
obligations of said corporation hereunder.

     "Common Stock" shall mean the shares of Common Stock of the Company, $0.004
par value.

     "Fair Market Value" shall mean the closing price of the Common Stock as
reported on the Nasdaq Stock Market on such date, if the Common Stock is then
quoted on the Nasdaq Stock Market or, if the market is closed on that date, the
closing price of the Common Stock on the previous trading day. If the Common
Stock is not listed on the Nasdaq Stock Market, Fair Market Value shall be
determined in good faith by the Company's Board of Directors.

     "Other Securities" shall mean any stock (other than Common Stock) or other
securities of the Company which the Warrantholder at any time shall be entitled
to receive, or shall have received, upon the exercise of the Warrants, in lieu
of or in addition to Common Stock, or which at any time shall be issuable or
shall have been issued in exchange for or in replacement of Common Stock or
Other Securities.

     "Securities Act" shall mean the Securities Act of 1933, as amended, and the
rules and regulations of the Commission thereunder, as in effect at the time.

     "Series F Preferred" shall mean the shares of Series F Convertible
Preferred Stock of the Company, $0.004 par value.

     "Subscription Form" shall mean the subscription forms attached hereto.
<PAGE>

     "Transfer" shall mean any sale, assignment, pledge, or other disposition of
any Warrants and/or Warrant Shares, or of any interest in either thereof, which
would constitute a sale thereof within the meaning of Section 2(3) of the
Securities Act.

     "Warrant Shares" shall mean the shares of Common Stock purchased or
purchasable by the Warrantholder upon the exercise of the Warrants pursuant to
Section 2 hereof.

     "Warrantholder" shall mean the holder or holders of the Warrants or any
related Warrant Shares.

     "Warrants" shall mean the Warrants (including this Warrant), identical as
to terms and conditions and date, issued by the Company in connection with the
sale of the Notes, and all Warrants issued in exchange, transfer or replacement
thereof.

     All terms used in this Warrant which are not defined in Section 1 hereof
have the meanings respectively set forth elsewhere in this Warrant.

     2. Exercise of Warrant, Issuance of Certificate, and Payment for Warrant
Shares. The rights represented by this Warrant may be exercised at any time
after the contingencies in paragraphs 2 and 3 of the Subscription Note Purchase
Agreement having been met, and prior to the Expiration Date, by the
Warrantholder, in whole or in part (but not as to any fractional share of Common
Stock), by: (a) delivery to the Company of a completed Subscription Form, (b)
surrender to the Company of this Warrant properly endorsed and signature
guaranteed, and (c) delivery to the Company of a certified or cashier's check
made payable to the Company in an amount equal to the aggregate Purchase Price
of the shares of Common Stock being purchased, at its principal office or agency
in Minnesota (or such other office or agency of the Company as the Company may
designate by notice in writing to the holder hereof). The Company agrees and
acknowledges that the shares of Common Stock so purchased shall be deemed to be
issued to the holder hereof as the record owner of such shares as of the close
of business on the date on which this Warrant, properly endorsed, and the
Subscription Form shall have been surrendered and payment made for such shares
as aforesaid. Upon receipt thereof, the Company shall, as promptly as
practicable, and in any event within fifteen (15) days thereafter, execute or
cause to be executed and deliver to the Warrantholder a certificate or
certificates representing the aggregate number of shares of Common Stock
specified in said Subscription Form. Each stock certificate so delivered shall
be in such denomination as may be requested by the Warrantholder and shall be
registered in the name of the Warrantholder or such other name as shall be
designated by the Warrantholder. If this Warrant shall have been exercised only
in part, the Company shall, at the time of delivery of said stock certificate or
certificates, deliver to the Warrantholder a new Warrant evidencing the rights
of such holder to purchase the remaining shares of Common Stock covered by this
Warrant. The Company shall pay all expenses, taxes, and other charges payable in
connection with the preparation, execution, and delivery of stock certificates
pursuant to this Section 2, except that, in case any such stock certificate or
certificates shall be registered in a name or names other than the name of the
Warrantholder, funds sufficient to pay all stock transfer taxes which shall be
payable upon the execution and delivery of such stock certificate or
certificates shall be paid by the Warrantholder to the Company at the time of
delivering this Warrant to the Company as mentioned above.

     3. Ownership of this Warrant. The Company may deem and treat the registered
Warrantholder as the holder and owner hereof (notwithstanding any notations of
ownership or writing made hereon by anyone other than the Company) for all
purposes and shall not be affected by any notice to the contrary, until
presentation of this Warrant for transfer as provided herein and then only if
such transfer meets the requirements of Section 5.

                                       2
<PAGE>

     4. Exchange, Transfer, and Replacement. Subject to Section 5 hereof, this
Warrant is exchangeable upon the surrender hereof by the Warrantholder to the
Company at its office or agency described in Section 2 hereof for new Warrants
of like tenor and date representing in the aggregate the right to purchase the
number of shares purchasable hereunder, each of such new Warrants to represent
the right to purchase such number of shares (not to exceed the aggregate total
number purchasable hereunder) as shall be designated by the Warrantholder at the
time of such surrender. Subject to Section 5 hereof, this Warrant and all rights
hereunder are transferable, in whole or in part, upon the books of the Company
by the Warrantholder in person or by duly authorized attorney, and a new Warrant
of the same tenor and date as this Warrant, but registered in the name of the
transferee, shall be executed and delivered by the Company upon surrender of
this Warrant, duly endorsed, at such office or agency of the Company. Upon
receipt by the Company of evidence reasonably satisfactory to it of the loss,
theft, destruction, or mutilation of this Warrant, and, in the case of loss,
theft, or destruction, of indemnity or security reasonably satisfactory to it,
and upon surrender and cancellation of this Warrant, if mutilated, the Company
will make and deliver a new Warrant of like tenor, in lieu of this Warrant. This
Warrant shall be promptly canceled by the Company upon the surrender hereof in
connection with any exchange, transfer, or replacement. The Company shall pay
all expenses, taxes (other than stock transfer taxes), and other charges payable
in connection with the preparation, execution, and delivery of Warrants pursuant
to this Section 4.

     5. Restrictions on Transfer. Notwithstanding any provisions contained in
this Warrant to the contrary, neither this Warrant nor the Warrant Shares shall
be transferable except upon the conditions specified in this Section 5, which
conditions are intended, among other things, to ensure compliance with the
provisions of the Securities Act in respect of the transfer of this Warrant or
such Warrant Shares. The holder of this Warrant agrees that such holder will not
transfer this Warrant or the related Warrant Shares (a) prior to delivery to the
Company of an opinion of counsel selected by the Warrantholder and reasonably
satisfactory to the Company, stating that such transfer is exempt from
registration under the Securities Act, or (b) until registration of such
Warrants and/or Warrant Shares under the Securities Act has become effective and
continues to be effective at the time of such transfer. An appropriate legend
may be endorsed on the Warrants and the certificates of the Warrant Shares
evidencing these restrictions. The holder of this Warrant further agrees that
such holder will not, for a period of 180 days from the date that a registration
statement covering securities offered by the Company is declared effective by
the Commission, offer to sell, contract to sell, or otherwise sell, dispose of,
loan, pledge or grant any rights with respect to the Warrant or the Warrant
Shares owned by the holder, otherwise than with the prior written consent of the
Company.

     6. Antidilution Provisions. The rights granted hereunder are subject to the
following:

          (a) Stock Splits. In case at any time the Company shall subdivide its
     outstanding shares of Common Stock into a greater number of shares, the
     Purchase Price in effect immediately prior to such subdivision shall be
     proportionately reduced and the number of Warrant Shares purchasable
     pursuant to this Warrant immediately prior to such subdivision shall be
     proportionately increased, and conversely, in case at any time the Company
     shall combine its outstanding shares of Common Stock into a smaller number
     of shares, the Purchase Price in effect immediately prior to such
     combination shall be proportionately increased and the number of Warrant
     Shares purchasable upon the exercise of this Warrant immediately prior to
     such combination shall be proportionately reduced. Except as provided in
     this paragraph (a), no adjustment in the Purchase Price and no change in
     the number of Warrant Shares so purchasable shall be made pursuant to this
     Section 6 as a result of or by reason of any such subdivision or
     combination.

                                       3
<PAGE>

          (b) Reorganization, Reclassification, Consolidation, Merger, or Sale.
     If any capital reorganization or reclassification or merger of the Company
     with another corporation, or the sale of all or substantially all of its
     assets to another corporation, shall be effected in such a way that holders
     of shares of Common Stock shall be entitled to receive Common Stock, Other
     Securities or assets with respect to or in exchange for shares of Common
     Stock, then, as a condition of such reorganization, reclassification,
     consolidation, merger or sale, lawful and adequate provision shall be made
     whereby the Warrantholder shall thereafter have the right to purchase and
     receive upon the basis and upon the terms and conditions specified in the
     Warrants and in lieu of the shares of Common Stock of the Company
     immediately theretofore purchasable and receivable upon the exercise of the
     Warrants such shares of Common Stock, Other Securities or assets as may be
     issued or payable with respect to or in exchange for a number of
     outstanding shares of Common Stock equal to the number of shares of Common
     Stock immediately theretofore purchasable and receivable upon the exercise
     of the Warrants had such reorganization, reclassification, consolidation,
     merger or sale not taken place, and in any such case appropriate provision
     shall be made with respect to the rights and interests of the Warrantholder
     so that the provisions of the Warrants (including, without limitation,
     provisions for adjustment of the Purchase Price and the number of shares
     purchasable upon the exercise of the Warrants) shall thereafter be
     applicable, as nearly as may be, in relation to any shares of Common Stock,
     Other Securities or assets thereafter deliverable upon the exercise of the
     Warrants.

     7. Special Agreements of the Company.

          (a) Will Reserve Shares. The Company will reserve and set apart and
     have at all times the number of shares of authorized but unissued Common
     Stock deliverable upon the exercise of the Warrants, and it will have at
     all times any other rights or privileges provided for herein sufficient to
     enable it at any time to fulfill all of its obligations hereunder.

          (b) Will Avoid Certain Actions. The Company will not, by amendment of
     its Articles of Incorporation or through any reorganization, transfer of
     assets, consolidation, merger, issue or sale of securities or otherwise,
     avoid or take any action which would have the effect of avoiding the
     observance or performance hereunder by the Company, but will at all times
     in good faith assist in carrying out of all the provisions of the Warrants
     and in taking all such actions as may be necessary or appropriate in order
     to protect the rights of the Warrantholder against dilution or other
     impairment.

     8. Registration Rights. The holder is entitled only to the registration
rights as provided in the Third Amended and Restated Registration Rights
Agreement.

     9. Notices. Any notice or other document required or permitted to be given
or delivered to the Warrantholder shall be delivered or sent by certified mail
to the Warrantholder at the last address shown on the books of the Company
maintained for the registry and transfer of the Warrants. Any notice or other
document required or permitted to be given or delivered to the Company shall be
delivered or sent by certified or registered mail to the principal office of the
Company.

     10. No Rights as Shareholders; Limitation of Liability. This Warrant shall
not entitle any holder hereof to any of the rights of a shareholder of the
Company. No provisions hereof, in the absence of affirmative action by the
holder hereof to purchase shares of Common Stock, and no mere enumeration herein
of the rights or privileges of the holder hereof, shall give rise to any
liability of such holder for the Purchase Price or as a shareholder of the
Company whether such liability is asserted by the Company or by creditors of the
Company.

                                       4
<PAGE>

     11. Governing Law. This Warrant shall be governed by, and construed and
enforced in accordance with, the laws of the State of Minnesota, without regard
to conflicts of laws principles.

     12. Miscellaneous. This Warrant and any provision hereof may be changed,
waived, discharged, or terminated only by an instrument in writing signed by the
party (or any predecessor in interest thereof) against which enforcement of the
same is sought. The headings in this Warrant are for purposes of reference only
and shall not affect the meaning or construction of any of the provisions
hereof.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by a
duly authorized officer, and to be dated as of __________, 2001.

                                       UNITED SHIPPING & TECHNOLOGY, INC.

                                       By:
                                           -------------------------------------
                                           Jeffry Parell
                                           Chief Executive Officer

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 (THE "1933 ACT") OR UNDER THE SECURITIES LAWS OF ANY
OTHER STATE AND MAY NOT BE TRANSFERRED WITHOUT (i) THE OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT
REGISTRATION UNDER THE 1933 ACT OR THE SECURITIES LAWS OF ANY APPLICABLE STATE;
OR (ii) SUCH REGISTRATION."

                                       5
<PAGE>

                             FULL SUBSCRIPTION FORM

To Be Executed By the Registered Warrantholder if It/
She/He Desires to Exercise in Full the Within Warrant

     The undersigned hereby exercises the right to purchase the _____________
shares of Common Stock covered by the within Warrant at the date of this
subscription and herewith makes payment of the sum of
$____________________________ representing the Purchase Price of $__________ per
share in effect at that date. Certificates for such shares shall be issued in
the name of and delivered to the undersigned, unless otherwise specified by
written instructions, signed by the undersigned and accompanying this
subscription.

Dated:
       ---------------------------

                                       Signature:
                                                  ------------------------------

                                       Address:
                                                --------------------------------

                                       6
<PAGE>

                            PARTIAL SUBSCRIPTION FORM

To be Executed by the Registered Warrantholder if It/She/He
Desires to Exercise in Part Only the Within Warrant

     The undersigned hereby exercises the right to purchase __________ shares of
the total shares of Common Stock covered by the within Warrant at the date of
this subscription and herewith makes payment of the sum of $____________
representing the Purchase Price of $_________ per share in effect at this date.

     Certificates for such shares and a new Warrant of like tenor and date for
the balance of the shares not subscribed for (if any) shall be issued in the
name of and delivered to the undersigned, unless otherwise specified by written
instructions, signed by the undersigned and accompanying this subscription.

     The shares hereby subscribed for constitute ______________ shares of Common
Stock (to the nearest whole share) resulting from adjustment of ______________
shares of the total of _____________ shares of Common Stock covered by the
within Warrant, as said shares were constituted at the date of the Warrant.

Dated:
       ---------------------------

                                       Signature:
                                                  ------------------------------

                                       Address:
                                                --------------------------------

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}]]