SEPARATION AGREEMENT









EXHIBIT

10.48




 




SEPARATION AGREEMENT




AND GENERAL RELEASE




 




This Agreement is

entered into between Ronald L. Junck (“Employee”) and Labor Ready, Inc.

(“Company”) in order to sever their employment relationship.  In consideration of the mutual promises

below the Company and Employee agree as follows:




 




1.     Resignation.     Employee hereby resigns as Executive Vice

President and General Counsel of the Company, effective June 30, 2001.  The Company hereby accepts Employee’s

resignation. The foregoing notwithstanding, the date of Employee’s termination

of employment with the Company shall be deemed to be July 31, 2002 for purposes

hereof and for purposes of the Employment Contract between Employee and the

Company.




 




2.     Compensation.     Subject to Employee’s compliance with all

of the terms and conditions of this Agreement and as a material inducement to

Employee to enter into this Agreement, Company will continue to pay Employee

his current salary of $20,833.33 per month through July 31, 2002.




 




3.     Benefits.     In addition, Company agrees to continue to provide Employee

with all benefits to which Employee may be entitled under Company’s current

benefits plans, on the same terms as currently provided, through and including

July 31, 2002; provided, however, that Company shall pay Employee for all

unused vacation accrued by Employee as of June 30, 2001 under Company’s current

vacation policy, and Employee shall not be entitled to further vacation

benefits after June 30, 2001.




 




Employee expressly acknowledges that the above

represents consideration for any and all compensation due Employee as well as

Employee’s promises set forth herein and the settlement, waiver, release and

discharge of any and all claims relating to the employment arising under the

common law or under federal, state and local statue or regulation.




 




4.     Terms

and Conditions.     Employee

expressly agrees to all of the following terms and conditions:




 




a)              Employee shall not

solicit or cause or encourage others to solicit or participate in any manner in

the solicitation of any employee to leave the employment of the Company.




 




b)             Employee shall not

issue or make any written or verbal statement to anyone which addresses the

Company or his employment with the Company in a negative or derogatory manner.




 





























 




c)              Employee shall not

discuss the Company in any public forum including without limitation with any

member of the press, before any group or in any Internet posting.




 




d)             Employee shall comply

with all of the ongoing covenants set forth in his Employment Contract.




 




e)              Employee shall

reasonably cooperate with the Company on an as requested basis in any pending

matters which in the Company’s reasonable judgment require Employee’s

involvement. Except as provided in this paragraph, Employee shall have no

further duties after June 30, 2001.




 




Employee expressly acknowledges that all of the

consideration to be made by Company is specifically conditioned upon Employee’s

strict compliance with all of the foregoing terms and conditions.  Upon the occurrence of any breach of these

terms and conditions, and if Employee is still then receiving payments from

Company, his right to continue receiving such payments will immediately

terminate.  Whether a breach occurs

before or after the end of Employee’s employment, Company shall be entitled to

exercise all remedies available at law to enforce this Agreement and to recover

its damages.




 




5.     Release

by Employee.     Employee represents

that he has not filed any complaint, charge or action against the Company, its

officers, agents or employees with any local, state or federal agency or court

arising from this employment relationship with the Company.  Employee further represents that he will not

seek damages, monetary or otherwise, or any other type of relief through any

such complaint at any time in the future. Employee and his successors and

assigns waives, releases and forever discharges the Company, its officers,

directors, agents and employees of and from any and all claims, causes of

action, rights, demands, debts, damages and actions of whatever nature arising

from or relating to Employee’s employment relationship with the Company

including the termination of this relationship and also including any cause of

action pertaining to employment discrimination based on age, race, creed, color,

religion, sex, national origin or disability.




 




6.     Opportunity

to Review.     Employee expressly

acknowledges that the Company has encouraged and given him the opportunity to

thoroughly discuss all aspects of this Agreement with his attorney or other advisor

before signing and that he has thoroughly discussed or in the alternative has

freely elected to waive any further opportunities to thoroughly discuss this

Agreement with his attorney or other advisor. 

Employee understands that he has twenty-one (21) days to review this

Agreement and determine whether or not to sign.  Signature prior to the expiration of 21 days waives the remaining

consideration period.  Employee has seven

(7) days from the date this Agreement is executed to revoke the waiver of any

claim under the Age Discrimination in Employment Act.  If Employee does not revoke the Agreement within the seven-day 




 




2





























 




period, the Agreement shall become fully effective and the payment

terms referred to herein shall become effective.  If Employee does revoke this Agreement, the Company’s obligations

under Paragraphs 2 and 3 shall be null and void.




 




7.     Knowing

and Voluntary.     Employee

expressly acknowledges that he understands all of the provisions of this

Agreement, and that he is knowingly and voluntarily entering into this

Agreement.




 




8.     Governing Law.     This Agreement is made and entered into

in the State of Washington and shall in all respects be interpreted, enforced

and governed under the laws of this state.




 




9.     Effect

of Invalidity.     Should any

provision of this Agreement be declared or be determined by any court of

competent jurisdiction to be illegal, invalid, void or unenforceable, the

legality, validity and enforceability of the remaining parts, terms or

provisions shall not be effected thereby and any said illegal, unenforceable or

invalid part, term or provision shall be deemed to be revised in the legal,

enforceable and valid manner which most closely reflects the intention of the parties.




 




10.   Entire

Agreement.     This Agreement, along

with all of the ongoing covenants of Employee’s Employment Contract, sets forth

the entire agreement between the parties and fully supersedes any and all prior

agreements or understandings between these parties pertaining to this subject

matter.




 




EXECUTED this 24th day of May, 2001.




	

   


  	

   


  
	

   


  	

   


  	

  EMPLOYEE


  
	

   


  	

   


  
	

   


  	

   


  	

  /s/ Ronald L.

  Junck


  
	

   


  	

   


  	

  Ronald L. Junck


  
				





 




LABOR READY, INC.




 




	

  By:


  	

  /s/ Richard L. King


  	

   


  
	

   


  	

  Richard L. King, President and CEO


  	

   


  





 




3