Document:

Form of Letter Agreement among the Registrant

 Exhibit 10.6 
 June     , 2006 
 Millennium India Acquisition Company Inc. 
 330 East 38 Street 
 Suite 46C 
 New York, New York 10016 
 Ladenburg Thalmann & Co. Inc. 
 590 Madison Avenue, 34th Floor 
 New York, New York 10022 
  
  

	 	Re:	Initial Public Offering 

 Ladies
and Gentlemen: 
 The undersigned holder (the “Holder”) of Millennium India Acquisition Company Inc.’s (the
“Company”), common stock, par value $0.0001 per share (the “Common Stock”) and warrants, each to purchase one share of the Company’s Common Stock (the “Warrants”), in consideration of Ladenburg Thalmann &
Co. Inc. (“Ladenburg”) entering into an underwriting agreement (the “Underwriting Agreement”), as Representative of the several underwriters named in Schedule I of the Underwriting Agreement, with the Company providing for the
initial public offering of the securities of the Company (the “IPO”), hereby agrees as follows (certain capitalized terms used herein are defined in paragraph 13 hereof): 
 1. If the Company solicits approval of its stockholders of a Business Combination, the Holder will vote all shares of Common Stock then owned by such
Holder and which were acquired by such Holder prior to the Company’s consummation of the IPO (the “Pre-IPO Stock”), in accordance with the majority of the votes cast by the Company’s public stockholders, other than Insiders of
the Company. 
 2. In the event that the Company fails to consummate a Business Combination within 18 months from the effective date
(“Effective Date”) of the Registration Statement (or 24 months under the circumstances described in the Prospectus relating to the IPO), the Holder agrees to waive such Holder’s right to participate in any liquidation distribution
with respect to its Pre-IPO Stock, and to take all reasonable actions within its power, at the times described in the Prospectus, to cause the Company to liquidate as soon as reasonably practicable. Additionally, the Holder agrees to pay the costs
of liquidation and dissolution to the extent the funds held outside the trust account are insufficient to cover such expenses. 
 3. The
Holder agrees to indemnify and hold harmless the Company against any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing
or defending against 

 Millennium India Acquisition Company Inc. 
 Ladenburg Thalmann & Co. Inc. 
 June     , 2006 
 Page 2 
  
 any litigation, whether pending or threatened, or any claim whatsoever) which the Company may become subject as a result of any claim by target businesses or vendors or other entities that is owed money by the Company for services rendered
or contracted for or products sold, but only to the extent necessary to ensure that such loss, liability, claim, damage or expense does not reduce the amount in the Trust Account (as defined in the Prospectus). 
 4. The Holder hereby waives its right to exercise conversion rights with respect to its Pre-IPO Stock, and agrees that it will not seek conversion with
respect to such Pre-IPO Stock in connection with any vote to approve a Business Combination (as is more fully described in the Company’s Prospectus). 
 5. Without the prior written consent of Ladenburg, the Holder will not, during the period commencing on the date hereof and ending on the date of consummation of a Business Combination, sell, transfer or exercise the
Warrants owned by such Holder and which were acquired by such Holder prior to the Company’s consummation of the IPO (the “Pre-IPO Warrants”). The Holder agrees that such Warrants will be held in escrow with American Stock
Transfer & Trust Company as escrow agent (the “Escrow Agent”) until the earliest to occur of (i) the liquidation of the Company or (ii) the consummation of a Business Combination. By the Holder’s execution hereof,
the Holder hereby authorizes the Company for, and on behalf of, the Holder to deliver the certificate or certificates evidencing the Holder’s Pre-IPO Warrants into escrow at the closing of the IPO as contemplated by the immediately proceeding
sentence. 
 6. Without the prior written consent of Ladenburg, the Holder will not, during the period commencing on the date hereof and
ending six months after the date of consummation of a Business Combination, sell or transfer its Pre-IPO Stock (except to a spouse and/or child, or trust established for its benefit). The Holder agrees that such Pre-IPO Stock will be held in escrow
with the Escrow Agent until the earliest to occur of (i) six months after the consummation of a Business Combination or (ii) the liquidation of the Company. By the Holder’s execution hereof, the Holder hereby authorizes the Company
for, and on behalf of, the Holder to deliver the certificate or certificates evidencing the Holder’s Pre-IPO Stock into escrow at the closing of the IPO as contemplated by the immediately proceeding sentence. 
 7. In order to minimize potential conflicts of interest which may arise from multiple affiliations, the Holder agrees to present to the Company for its
consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire an operating business, until the earlier of the consummation by the Company of a Business Combination, the liquidation of the Company or until
such time as the Holder ceases to be an officer or director of the Company, subject to any pre-existing fiduciary obligations the Holder might have. 
 8. The Holder acknowledges and agrees that the Company will not consummate any Business Combination which involves a company which is affiliated with any of the Insiders unless the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Ladenburg that the Business Combination is fair to the Company’s stockholders from a financial perspective. 

  

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 Millennium India Acquisition Company Inc. 
 Ladenburg Thalmann & Co. Inc. 
 June     , 2006 
 Page 3 
  
 9. Neither the Holder, any family member of the Holder, nor any affiliate of the Holder will be entitled to receive and will not accept any compensation for services rendered to the Company prior to the consummation
of the Business Combination. 
 10. Neither the Holder, any family member of the Holder, or any affiliate of the Holder will be entitled to
receive or accept a finder’s fee or any other compensation in the event the Holder, any family member of the Holder, or any affiliate of the Holder originates a Business Combination. 
 11. The Holder authorizes any employer, financial institution, or consumer credit reporting agency to release to Ladenburg and its legal representatives
or agents (including any investigative search firm retained by Ladenburg) any information it may have about the Holder’s background and finances (“Information”), purely for the purposes of the Company’s IPO (and shall thereafter
hold such information confidential). Neither Ladenburg nor its agents shall be violating the Holder’s right of privacy in any manner in requesting and obtaining the Information. 
 12. The Holder has full right and power, without violating any agreement by which it is bound, to enter into this letter agreement. 
 13. As used herein, (i) a “Business Combination” shall mean an acquisition by merger, capital stock exchange, asset or stock acquisition,
reorganization or otherwise, of an operating business selected by the Company; (ii) “Insiders” shall mean all officers and directors who are stockholders of the Company immediately prior to the IPO; (iii) “Prospectus”
shall mean the prospectus forming a part of the Registration Statement on Form S-1 (File No. 333-133189), as amended (the “Registration Statement”), filed by the Company under the Securities Act of 1933, as amended, covering the
registration of up to 10,625,000 units, each unit consisting of one share of Common Stock and one Warrant. 
  
 _____________________________ 
  

 3Reimbursement Agreement

 EXHIBIT 10.1 
 REIMBURSEMENT AGREEMENT 
 This Reimbursement Agreement (this “Agreement”) is
entered into as of the 29th day of June, 2006 (the “Effective Date”), by and between Velocity Express Corporation, a Delaware corporation (the “Company”), and TH Lee Putnam Ventures, a Delaware
partnership (the “Sponsor”). 
 WHEREAS, certain affiliates of the Sponsor have provided equity financing to
the Company. 
 WHEREAS, Sponsor and its affiliates have incurred costs and expenses in connection with providing such services to the
Company and expect to incur future costs and expenses on the Company’s behalf. 
 NOW, THEREFORE, in consideration of the
premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Prior Costs and Expenses. The Company and Sponsor agree that the Company is indebted to Sponsor as of the Effective Date for: 
 (a) for costs and expenses incurred on behalf of the Company in the amount of $89,551.47; 
 (b) Sponsor’s overfunding of a credit facility provided by Sponsor for the benefit of the Company in the amount of $130,000;

 (c) merger and acquisition services provided by Sponsor to the Company in connection with the pending CD&L merger; and

 (d) credit enhancements provided to the Company in the form of loan guarantees. 
 The Company shall reimburse Sponsor in cash for the amount set forth in (a) above promptly upon demand made by Sponsor. The Company’s obligation to Sponsor
with respect to (b) above shall be paid by the Company’s issuance to Sponsor of approximately 118,181 shares of the Company’s Series Q Convertible Preferred Stock. The Company shall compensate Sponsor for the services described in
(c) and (d) above by issuing to Sponsor four-year warrants to purchase 250,000 and 547,500 shares, respectively, of the Company’s common stock, $.004 par value per share, at a price of $.01 per share. Such warrants will be
substantially similar to the warrant instruments issuable to purchasers of the Company’s 12 percent senior secured notes. 

 2. Legal Fees and Expenses. 
 (a) Sponsor and the Company acknowledge and agree that the Company is obligated to pay to Kirkland & Ellis LLP fees and expenses
in the amount of $149,489.86 for legal work related to strategic planning and corporate finance arranged by Sponsor for the exclusive benefit of the Company. 
 (b) Sponsor and the Company acknowledge and agree that the Company is to pay all reasonable legal fees and expenses incurred by Sponsor
with respect to its investment in the Company’s Series Q Preferred Stock. 
 3. Reimbursement of Future Costs and Expenses.
Subject to the terms and conditions set forth herein, the Company shall pay on demand and in cash all out of pocket and other third-party costs and expenses incurred by Sponsor on behalf of the Company. Prior to incurring any costs or expenses
reimbursable by the Company, Sponsor shall obtain the written consent of the Company’s Chief Executive Officer or Chief Financial Officer, who shall take such actions necessary to ensure that such consent is not provided unless and until:

 (a) all conditions for approval of transactions with affiliates and stockholders contained in the Certificates of
Designation of Preferences and Rights for the Company’s Series M and Series N Convertible Preferred Stock have been satisfied; 
 (b) the Company has complied with the terms and conditions of the Company’s Senior Secured Note Indenture, including without limitation Section 4.14 thereof; and 
 (c) the Company has satisfied any and all contractual and other restrictions imposed on such transactions by documents and instruments
governing the Company’s debt and equity financing arrangements. 
 Sponsor shall provide to the Company copies of all invoices and other documentation
substantiating the nature and amount of all costs and expenses for which reimbursement is requested pursuant to this Agreement. The Company shall effect such reimbursements via wire transfer of immediately available funds to an account(s) specified
in writing by the Sponsor for such purpose. 
 4. Registration Rights. The Company shall register the Common Stock underlying the
Company’s Series Q Convertible Preferred Stock and the four-year warrants referred to in Section 1 of this agreement at the same time as it registers the securities of other purchasers of Series Q Convertible Preferred Stock and warrants,
pursuant to the terms of a registration rights agreement between the Company and such purchasers. 
 5. Term. The term of this
Agreement commence on the Effective Date and continue in full force and effect until terminated: (a) by Sponsor on at least 30 days prior written notice to the Company, or (b) automatically on the date which Sponsor no longer beneficially
owns equity securities of the Company. Upon any termination of this Agreement, any and all owed and unpaid obligations of the Company under Sections 1, 2 and 3 above survive. 
  

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 6. Indemnification. 
 (a) The Company will indemnify and hold harmless Sponsor, its affiliates and their respective partners (both general and limited), members
(both managing and otherwise), officers, directors, employees, agents and representatives (each such entities and persons being an “Indemnified Party”) from and against any and all losses, claims, damages and liabilities, expenses of any
nature (including reasonable attorneys’ fees and disbursements), judgments, fines, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings (the “Liabilities”), related to, arising out of
or in connection with: (i) any action taken within the scope of this Agreement in good faith by an Indemnified Party on behalf of the Company and (ii) any breach by the Company of any of the terms of this Agreement, except, in each case,
if a court, in a final judgment from which no further appeal may be taken, determines that the Liability resulted primarily from the gross negligence or willful misconduct by an Indemnified Party (an “Indemnified Party Fault”). 

(b) The Company will reimburse any Indemnified Party for all costs and expenses (including reasonable attorneys’ fees and
expenses) as they are incurred in connection with investigating, preparing, pursuing, defending or assisting in the defense of any action, claim, suit, investigation or proceeding for which the Indemnified Party would be entitled to indemnification
hereunder, subject to repayment by the Indemnified Party in the case of an Indemnified Party Fault. 
 7. Assignment. Neither the
Company nor Sponsor shall have the right to assign this Agreement without the written consent of the other party, which consent may be withheld for any reason. 
 8. Amendments and Waivers. No amendment or waiver of any term, provision or condition of this Agreement shall be effective, unless in writing and executed by Sponsor and the Company. No course of dealing of any
party nor any delay or omission in exercising any right or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto. 
 9. Miscellaneous. 
 (a) Choice of Law. This Agreement shall be governed by and
construed in accordance with the substantive laws of the state of New York without giving effect to any choice or conflict of law provision or rule contained therein. 
 (b) Consent to Jurisdiction. Each of the parties agrees that all actions, suits or proceedings arising out of or based upon this Agreement
or the subject matter hereof shall be brought and maintained exclusively in the federal and state courts of the State of New York. Each of the parties hereto by execution hereof: (i) hereby irrevocably submits to the jurisdiction of the federal
and state courts in the State of New York for the purpose of any action, suit or proceeding arising out of or based upon this Agreement or the subject matter hereof; and (ii) hereby waives to the extent not prohibited by applicable law, and
agrees not to assert, by way of motion, any defense to such jurisdiction. 
  

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 (c) Entire Agreement. This Agreement contains the entire understanding of the parties
with respect to the subject matter hereof and supersedes any prior communication or agreement with respect thereto. 
 (d)
Severability. If in any judicial or arbitral proceedings a court or arbitrator shall refuse to enforce any provision of this Agreement, then such unenforceable provision shall be deemed eliminated from this Agreement for the purpose of such
proceedings to the extent necessary to permit the remaining provisions to be enforced to the maximum extent permitted by law. 
 (e) Counterparts. This Agreement may be executed in any number of counterparts and by each of the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which together shall
constitute one and the same agreement. 
 (f) Prevailing Party. If any legal action or other proceedings is brought for a
breach of this Agreement or any of the warranties herein, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs incurred in bringing such action or proceeding, in addition to any other relief to which
such party may be entitled. 
 (g) Waiver of Jury Trial. Each of the parties hereto hereby waives any right to train by jury
in any action, matter, or proceeding regarding this Agreement or any provision hereof. 
 10. Notice. All notices, demands, and
communications of any kind which any party may require or desire to serve upon any other party under this Agreement shall be in writing and shall be served upon such other party and such other party’s copied persons as specified below by
personal delivery to the address set forth for it below or to such other address as such party shall have specified by notice to each other party or by mailing a copy thereof by certified or registered mail, or by Federal Express or any other
reputable overnight courier service, postage prepaid, with return receipt requested, addressed to such party and copied persons at such addresses. In the case of service by personal delivery, it shall be deemed complete on the first business day
after the date of actual delivery to such address. In case of service by mail or by overnight courier, it shall be deemed complete, whether or not received, on the third day after the date of mailing as shown by the registered or certified mail
receipt or courier service receipt. Notwithstanding the foregoing, notice to any party or copied Person of change of address shall be deemed complete only upon actual receipt by an officer or agent of such party or copied person. 
  

	
	If to the Company, to it at:
	
	One Morningside Drive North,
	Building B, Suite 200
	Westport, CT 06880
	Attention: Edward W. Stone
	Telecopier: (203) 349-4160

  

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	with a copy (which shall not constitute notice) to:
	
	Briggs and Morgan, P.A.
	2200 IDS Center
	80 South Eighth Street
	Minneapolis, MN 55402
	Attention: Avron L. Gordon or Brett D. Anderson
	Telephone: (612) 977-8400
	Telecopy: (612) 977-8650
	
	If to the Sponsor:
	
	TH Lee Putnam Fund Ventures
	200 Madison Avenue
	New York, New York 10016
	Attention: Jim Brown / Fred Coulson
	fred.coulson@thlpv.com
	Telecopier: (212) 951-8655
	
	with a copy (which shall not constitute notice) to:
	
	Golenbock Eiseman Assor Bell & Peskoe LLP
	437 Madison Avenue
	New York, NY 10022
	Attention: Andrew C. Peskoe, Esq.
	apeskoe@golenbock.com
	Telecopier: (212) 754-0330

 * * * * * 
 [SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf as
an instrument under seal as of the Effective Date by its officer or representative thereunto duly authorized. 
  

			
	VELOCITY EXPRESS CORPORATION
		
	By:	 	 /s/ Edward W. Stone
  

	Name:	 	Edward W. Stone
	Title:	 	Chief Financial Officer
		
	Sponsor:	 	

  

			
	
	 TH LEE PUTNAM VENTURES

		
	By:	 	 TH Lee Putnam Fund Advisors, L.P.,
 its general
partner

		
	By:	 	 /s/ Fred Coulson
  

	Title:	 	Vice President

  

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