Form SI-03 Bond No









EXHIBIT

10.49




 








	

   


  	

   


  	

   


  
	

  Form

  SI-03


  	

   


  	

  Bond No. 1316090


  
	

  Rev. 07/00


  	

   


  	

   


  










 




COMMONWEALTH OF KENTUCKY




DEPARTMENT OF WORKERS CLAIMS




FRANKFORT, KENTUCKY 40601




 




CONTINUOUS BOND




 




GREAT

AMERICAN  INSURANCE COMPANY




580 Walnut Street




Cincinnati, Ohio

45202




 




a company authorized

to transact surety business in the Commonwealth of Kentucky, as Surety, and

LABOR READY MID-ATLANTIC, INC.




 




1015 A Street




Tacoma, Washington

98402




 




a self-insured

employer, as Principal,  are

hereby held and firmly bound to the Department of Workers’ Claims (hereinafter “Department”)

in the aggregate sum of $ 750,000.00*** the payment of which

the Surety

and Principal bind themselves, their successors and assigns,

jointly and severally.




 




1.  In accordance with Chapter 342 of the

Kentucky Revised Statutes and the administrative regulations promulgated

thereunder (the “Kentucky Workers’ Compensation Act,” as it may be amended from

time to time), the Principal has been certified to self-insure

its workers’ compensation liability and files this bond to satisfy its

obligation to provide an acceptable bond to secure, to the extent the

Commissioner of the Department directs, the payment of workers’

compensation liabilities as they are incurred. 

If the Principal shall discharge promptly and completely all of its liabilities

under the Kentucky Workers’ Compensation Act, then the obligations under this

bond shall be null and void; otherwise the obligations remain in full force and

effect, subject only to other provisions of this bond.




 




2.  Surety agrees that the obligations of this

bond shall extend to all past, present, future and potential liability of the Principal as

an employer that is self-insured for workers’ compensation liabilities in

Kentucky.




 




3.  This is a continuous bond and shall apply to

new as well as existing workers’ compensation liabilities incurred by  the Principal until the bond is terminated by

the Surety,

as hereinafter provided, or until the Principal’s status as a

self-insurer has been revoked or terminated by  the Commissioner, and in any of the above-described events

the Surety

shall remain obligated under the provisions of this bond for future

payments of workers’ compensation liabilities incurred by the Principal prior

to termination or revocation.  However,

the Surety

shall be released from its liability if the Principal provides

replacement surety acceptable to the Department

for payment of the liabilities covered by this bond.




 





























 




4.  This bond may be terminated by the Surety by

filing a written notice of intent to terminate the bond in the Office of the

Commissioner of the Department and mailing a copy of the notice

to the Principal

on or before the date of filing, in which event the Surety’s obligation

for new workers’ compensation liabilities shall terminate sixty (60) days from

the date of such filing with the Commissioner. 

If the Principal fails to file substitute security that is acceptable

to the Commissioner within thirty (30) days of the filing of the Surety’s notice,

the Principal

shall be in default and this bond may be called.  Substitution of surety may be allowed only

by novation whereby the new surety or other security assumes all liabilities of

the Principal

past, present, future and potential, under the Kentucky Workers’

Compensation Act.




 




5.  The Commissioner of the Department may make written

demand personally or by mail upon the Principal and Surety, at the addresses

indicated on the face of this bond, for any portion of the bond amount from

time to time or for the full amount of the bond upon a default by the Principal in

the performance of any of its obligations as a self-insured employer or upon

the insolvency, bankruptcy, or receivership of either the Principal or the Surety.  Payment shall be made within

fifteen (15) business days after delivery of such demand to the Surety.




 




6.  The amount of this bond may be increased or

decreased by an agreement stating the effective date of the increase or

decrease, executed by the Principal and Surety on the form specified

by the Department,

and approved by the Commissioner of the Department.




 




7.  If the Surety makes payment to the

Commissioner of the Department pursuant to the provisions of

this bond, any unused balance may be released to the Surety by  the Commissioner upon proof of payment and

a lapse of time adequate to assure that the Principal’s liabilities under

the Kentucky Workers’ Compensation Act have been fully satisfied and that each

has been paid or lapsed under the Act.




 




8.  The insolvency, bankruptcy or receivership

of the Principal

shall not relieve the Surety of its obligations under this bond.




 




9.  Nothing stated herein shall be deemed to

relieve the Principal of any liabilities arising under the Kentucky

Workers’ Compensation Act.




 




10.  This bond shall be effective April 23, 2001

and shall replace, supersede and exonerate Great American Insurance Company

Bond No. 1316090 which was executed on April 23, 2001.




 




IN WITNESS

WHEREOF, the Principal and Surety herein have caused this bond to be

signed and executed in their names and on their behalf this 1st

day of June, 2001.




 




ATTEST:




 




	

  /s/ Tracy D. Woods


  	

   


  	

  LABOR READY MID-ATLANTIC, INC.


  
	

   


  	

   


  
	

   


  	

  PRINCIPAL


  





 





























 




 




	

   


  	

   


  	

  BY:


  	

  /s/ Ronald L. Junck


  	

  (seal)


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

  ATTEST:


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

  /s/ Tevy Lor


  	

   


  	

  GREAT AMERICAN

  INSURANCE COMPANY


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

  SURETY


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

  BY:


  	

  /s/ Patrick D. Dineen


  	

  (seal)


  
	

   


  	

   


  	

  Patrick D. Dineen, Attorney-in-Fact


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

  NOTE:


  	

  Please type name and title below signatures.


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

  Power of attorney must be attached.


  	

   


  	

   


  	

   


  	

   


  	

   


  
												





 




GREAT

AMERICAN INSURANCE COMPANY




580

WALNUT STREET • CINCINNATI, OHIO 45202 • 513-369-5000 • FAX

513-723-2740




 








	

  The number of persons authorized


  by this power of attorney is not more than


  	

   


  	

   


  	

  No. 0


  	

  17201


  
	

  SEVEN


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

  POWER

  OF ATTORNEY


  	

   


  	

   


  










 




KNOW

ALL MEN BY THESE PRESENTS: That the GREAT AMERICAN INSURANCE COMPANY, a

corporation organized and existing under and by virtue of the laws of the State

of Ohio, does hereby nominate, constitute and appoint the person or persons

named below its true and lawful attorney-in-fact, for it and in its name, place

and stead to execute in behalf of the said Company, as surety, any and all

bonds, undertakings and contracts of suretyship, or other written obligations

in the nature thereof; provided that the liability of the said Company on any

such bond, undertaking or contract of suretyship executed under this authority

shall not exceed the limit stated below.




 





























 




	

  Name


  	

   


  	

  Address


  	

   


  	

  Limit of Power


  
	

  JAY A. MILEY


  	

   


  	

  ALL OF


  	

   


  	

  ALL


  
	

  PATRICK D. DINEEN


  	

   


  	

  SEATTLE, WASHINGTON


  	

   


  	

  UNLIMITED


  
	

  HEIDI BROCKUS


  	

   


  	

   


  	

   


  	

   


  
	

  KRISTA M. STROMBERG


  	

   


  	

   


  	

   


  	

   


  
	

  KATHIE L. WIEGERS


  	

   


  	

   


  	

   


  	

   


  
	

  TEVY LOR


  	

   


  	

   


  	

   


  	

   


  
	

  SUZANNE HOLDEN


  	

   


  	

   


  	

   


  	

   


  





 




This Power of

Attorney revokes all previous powers issued in behalf of the

attorney(s)-in-fact named above.




 




IN WITNESS WHEREOF

the GREAT AMERICAN INSURANCE COMPANY has caused these presents to be signed and

attested by its appropriate officers and its corporate seal hereunto affixed

this 18th day of April, 2001




 




	

  Attest


  	

  GREAT AMERICAN

  INSURANCE COMPANY


  





 




STATE OF OHIO,

COUNTY OF HAMILTON - ss:




 




On this 18th

day of April, 2001, before me personally appeared DOUGLAS R. BOWEN, to me

known, being duly sworn, deposes and says that he resided in Cincinnati, Ohio,

that he is the Vice President of the Bond Division of Great American Insurance

Company, the Company described in and which executed the above instrument; that

he knows the seal; that it was so affixed by authority of his office under the

By-Laws of  said Company, and that he

signed his name thereto by like authority.




 




This Power of

Attorney is granted by authority of the following resolutions adopted by the

Board of Directors of Great American Insurance Company by unanimous written

consent dated March 1, 1993.




 




RESOLVED:  That the Division President, the several Division Vice Presidents

and Assistant Vice Presidents, or any one of them, be  and hereby is authorized, from time to time, to

appoint one or more Attorneys-In-Fact to execute on behalf of the Company, as

surety, any and all  bonds, undertakings and contracts of suretyship, or

other written obligations in the nature thereof; to prescribe their respective

duties and the  respective limits of their authority, and to revoke

any such appointment at any time.




 




RESOLVED FURTHER:  That the Company seal and the signature of

any of the aforesaid officers and any Secretary or Assistant  Secretary of the Company may be affixed by facsimile

to any power of attorney or certificate of either given for the execution of

any bond,  undertaking ,contract or suretyship ,or other written

obligation in the nature thereof, such signature and seal when so used being

hereby adopted by  the Company as the original signature of such officer

and the original seal of the Company, to be valid and binding upon the Company

with the  same force and effect as though manually affixed.




 




CERTIFICATION




 




I, RONALD C.

HAYES, Assistant Secretary of Great American Insurance Company, do hereby

certify that the foregoing Power of Attorney and the Resolutions of the Board

of Directors of March 1, 1993 have not been revoked and are now in full force

and effect.




 




Signed and sealed

this 1st day of June, 2001




 





























 




All-Purpose




Certificate of Acknowledgment




 




	

  State of


  	

  Washington


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  
	

  County of


  	

  King


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  
	

  On June 1, 2001  before me, Kathie

  L. Wiegers


  	

   


  	

   


  
	

  DATE


  	

  NAME OF NOTARY PUBLIC


  	

   


  
	

   


  	

   


  	

   


  	

   


  
	

  personally appeared Patrick D. Dineen and Tevy Lor


  	

   


  	

   


  
	

   


  	

  NAME(S) OF SIGNER(S)


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  
	

  ý 

  personally known to me - OR


  	

  proved to me on the basis of satisfactory evidence

  to be the person(s) whose name(s) is/are subscribed to the within instrument

  and acknowledged to me that he/she/they executed the same in his/her/their authorized

  capacity(ies), and that by his/her/their signatures on the instrument the

  person(s), or the entity upon behalf of which the person(s) acted, executed

  the instrument.


  
	

   


  	

   


  	

   


  	

   


  
	

   


  	

  Witness my hand and official seal.


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  
	

   


  	

  /s/ Kathie L. Wiegers


  	

   


  	

   


  
	

   


  	

  SIGNATURE OF NOTARY PUBLIC


  	

   


  	

   


  
												





 




Though the data

below is not required by law, it may prove valuable to persons relying on the

document and prevent fraudulent reattachment of this form.




 




	

  CAPACITY

  CLAIMED BY SIGNER


  	

   


  	

  DESCRIPTION

  OF ATTACHED DOCUMENT(S)


  
	

  Attorney-in-Fact


  	

   


  	

  Type of Document


  
	

   


  	

   


  	

   


  	

   


  	

  Continuous

  Bond


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

  Bond

  No. 1316090


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

  Number of Pages


  	

  Three (3)


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

  Date of Document


  	

  June 1, 2001


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

  Signer(s) Other Than Named Above


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

   


  	

   


  
	

   


  	

   


  	

   


  	

   


  	

  Labor Ready Mid-Atlantic, Inc.


  	

   


  
								





 




SIGNER

IS REPRESENTING:




NAME

OF PERSON(S) OR ENTITY(IES)




 




Great

American Insurance Company