FORWARD AIR CORP
PROMISSORY NOTE
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d64809_ex10-1.htm
<DESCRIPTION>PROMISSORY NOTE
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<P ALIGN=RIGHT><font size=2><U>Exhibit
10.1</U></FONT></P>

<P><FONT SIZE=2>[First Tennessee Letterhead]</FONT></P>

<P ALIGN=CENTER><font size=2>May
12, 2005</FONT></P>

<P><FONT SIZE=2>Mr. Andrew Clarke<BR>
Forward Air Corporation<BR>
P.O. Box 1058<BR>
Greeneville, TN 37744</FONT></P>

<P><FONT SIZE=2>Re: Forward Air Corporation Credit
Facility</FONT></P>

<P><FONT SIZE=2>Dear Andy:</FONT></P>

<P align=justify><FONT SIZE=2>Concerning the terms of the Loan
and Security Agreement date September 10, 1998 ,and the Modification Agreement
dated June 18, 2002 First Tennessee Bank (&#147;The Bank&#148;) agrees to the following:</FONT></P>

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 <P><FONT SIZE=2>1.</FONT></P>
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 <P align=justify><FONT SIZE=2>The Bank extends the maturity date on the $20,000,000
  Master Secured Promissory Note dated September 10, 1998 (the &#147;Line of
  Credit&#148;) to April 30, 2007.</FONT></P>
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<P align=justify><FONT SIZE=2>This agreement constitutes a one
time modification to the specific items addressed above. All other terms and
agreements of the Loan Documents remain in full effect and force. </FONT></P>

<P><FONT SIZE=2>Sincerely,</FONT></P>

<P><FONT SIZE=2>/s/ Steve Mears<BR>
Steve Mears<BR>
Senior Vice President</FONT></P>

<P><FONT SIZE=2>Accepted as of the <U>17th</U> day
of <U>May</U>, 2005</FONT></P>

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 <P><FONT SIZE=2>By: /s/ Andrew C. Clarke </FONT></P>
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 <P><FONT SIZE=2><FONT SIZE=1>&nbsp;</FONT></FONT></P>
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 <P><FONT SIZE=2>Andrew Clarke, Chief Financial Officer</FONT></P>
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 <P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;Forward Air Corporation</FONT></P>
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