It's a great contract, and to be honest he's probably marginally underpaid. Veleno's defensive metrics grade our really well (amongst the best on the team) and his offense is mediocre for his ice time. He's probably worth more than league minimum, but he has zero leverage and it's a buyers market for NHL GMs right now so he had to take what he could get. Smart on his part to do a one year deal though, as he should be in line for a nice little raise if his offense improves even a little bit (the aforementioned 15 goal, 30 pt. season I referenced above).
As far as Holland goes, his UFA signing at the end of his tenure in Detroit were really bad but I never had a problem with how he handled RFAs. If anything I think he probably could have stood to pay a bit more for RFAs and get them on longer term deals (the way Dave Poile did in Nashville) for guy who were obviously going to make it (Tatar, Nyquist). Otherwise, every bad deal he signed was with a UFA (Nielsen, Ericsson, Dekeyser, Abdelkader, etc.).