Document:

Prepared by MerrillDirect

Exhibit 10.15

EXCESS BOND TO SECURE PREMIUM
AND DEDUCTIBLE OBLIGATIONS

Bond Number 45032750

KNOW ALL MEN BY
THESE PRESENTS:

That Labor
Ready, Inc., as Principal ('Principal') and Greenwich Insurance Company, as
Surety ('Surety'), are held and firmly bound unto Mutual Indemnity (U.S.) Ltd.,
Legion Insurance Company and each of its affiliates and subsidiaries, as
Obligee (herein collectively and individually referred to as 'Obligee') for the
payment of the Obligations (hereafter defined), up to the maximum penal sum of
Seven Million Five Hundred Sixty Thousand and 00/100 Dollars ($7,560,000.00***)
lawful money of the United States for payment of
which sum, Principal and Surety hereby bind themselves, their successors and
assigns, jointly and severally, firmly by these presents.

WHEREAS, Obligee
has issued certain insurance policies on behalf of the Principal and has
entered into certain other agreements with the Principal which are described on
Exhibit A hereto and as may be amended and/or renewed from time to time (herein
collectively referred to as the 'Agreement(s)'), and;

WHEREAS, the
Obligee requires security for the Principal's Obligations to Obligee under each
of the Agreements ('Obligations'), and;

WHEREAS, the
Obligee currently holds, or will hold, security for the Obligations
('Underlying Security') and now desires "excess” security, and;

WHEREAS, such
excess security will not be liquidated until all other forms of Underlying
Security for the Obligations have been liquidated.

NOW, THEREFORE,
if and when the Obligations shall be fully and finally paid and satisfied, this
Excess Bond shall be null and void, otherwise this Excess Bond shall remain in
full force and effect and Principal and Surety in any event agree as follows:

	
  1.
  	
  Within ten (10) business days of Surety's
  receipt of a demand for payment under this Excess Bond ("Demand'),
  Surety shall pay to the Obligee the amount of such Demand. The Obligee's
  Demand to the Surety of the amount due, either as security or for payment or
  for reimbursement of Obligations pursuant to the Agreement(s), shall be
  absolute proof of the existence and extent of the liability of the Principal
  and the Surety to the Obligee hereunder. The Obligee may present one or more
  Demands at any time in its sole discretion, provided, however, Surety shall
  not be obligated to pay an aggregate amount in excess of the penal sum of the
  Excess Bond.

  
	
  2.
  	
  In the event that Obligee shall demand either
  a portion of the penal sum of the Excess Bond or the entire penal sum of the
  Excess Bond (less any previous amounts paid to Obligee under the Excess Bond)
  under a Demand, Obligee shall hold all funds ("Excess Bond Collateral')
  received as security for the Obligations and shall apply such Excess Bond
  Collateral to the Obligations from time to time in its sole discretion;
  provided, however, that the Obligee shall not apply such Excess Bond
  Collateral to the Obligations until the full amount of all Underlying
  Security has been applied to the Obligations. At such time as Obligee
  determines in its sole discretion that all of the Obligations are fully and
  finally paid and such payment is not subject to avoidance or other turnover,
  Obligee shall return to the Surety the unapplied portion of the Excess Bond
  Collateral. The Surety, whether in its capacity as Surety or subrogee of the
  Principal, waives, to the fullest extent permitted by applicable law, each
  and every right which it may have to contest Obligee's computation of the
  Obligations or the application of the Excess Bond Collateral by the Obligee to
  the Obligations, and waives, to the fullest extent permitted by applicable
  law, each and every right which it may have to seek reimbursement,
  restitution or recovery of any Excess Bond Collateral. Obligee shall not be
  required to (i) segregate Excess Bond Collateral from its general funds, (ii)
  hold or invest Excess Bond Collateral in an interest-bearing or
  income-producing investment, or (iii) account to Surety for interest or
  income in the event the same would be, otherwise attributable to Excess Bond
  Collateral. The Principal shall not at any time have any rights or property
  interests in this Excess Bond, the Excess Bond Collateral or other proceeds
  of this Excess Bond.

  
	
  3.
  	
  Failure to pay or reimburse the Obligee as
  herein provided shall cause the Surety to be additionally liable for any and
  all reasonable costs and expenses, including attorney's fees and interest,
  incurred by the Obligee in enforcing this Excess Bond, such liability to be
  in addition to the bond penalty.

  
	
  4.
  	
  Surety's obligations hereunder shall not be
  affected by (i) any matter or proceeding arising in connection with any
  modification, limitation, discharge, assumption, or reinstatement with
  respect to any Agreements or Obligations, (ii) any modification of or
  amendment to any Agreements or Obligations without Surety's consent or prior
  notification provided that, the penal sum of the Excess Bond may not be
  increased without the consent of Surety; however, failure to give such
  consent will not prevent Obligee from drawing up to the full amount of the
  Excess Bond (less any previous amounts paid to Obligee under the Excess Bond)
  either as security or for payment or for reimbursement under the Agreements,
  or (iii) any other circumstances which might otherwise constitute a legal or
  equitable discharge or defense for Surety.

  
	
  5.
  	
  This Excess Bond shall become effective
  February 17, 2001and shall
  remain in full force and effect thereafter for a period of one year and will
  automatically extend for additional one year periods from the expiry date hereof,
  or any future expiration date, unless the Surety provides to the Obligee not
  less than ninety (90) days advance written notice of its intent not to renew
  this Excess Bond or unless this Excess Bond is earlier canceled pursuant to
  the following. This Excess Bond may be canceled at any time upon ninety (90)
  days advance written notice from Surety to Obligee, via overnight express
  mail. It is understood and agreed that the Obligee may recover the full
  amount of the Excess Bond (less any previous amounts thirty (30) days prior
  to the effective date of cancellation or non­ renewal, the Obligee has not
  received collateral acceptable to it to replace the Excess Bond.

  
	
  6.
  	
  Any notice, Demand or request for payment,
  given or made under this Excess Bond shall be made in writing and shall be
  given by a personal delivery or expedited delivery service, postage pre-paid,
  addressed to the parties at the addresses specified below or to such other
  address as shall have been specified by such parties to each of the parties
  to the transactions contemplated hereby. Such notice, Demand or request for
  payment shall be accompanied by the Obligee's written certification that:
  “All other bonds, letters of credit and other similar instruments required as
  security for Obligations under Agreements described in Exhibit A of Greenwich
  Insurance Company bond number 45032750 have been drawn upon and all funds thereunder have been
  received by Mutual Indemnity (U.S.) Ltd., Legion Insurance Company and each
  of its affiliates and subsidiaries as Obligee.”, together with satisfactory
  proof of actual receipt of said funds by the Obligee.
  

If to the Surety:

Greenwich Insurance Company

c/o Avalon Risk Associates, Inc.

One Exchange Place

Suite 501

Jersey City, New Jersey 07302

Attention: Bond Claims

If to the Obligee:

Mutual Indemnity (U.S.) Ltd.

44 Church Street

Post Office Box HM 2064

Hamilton HM HX

Bermuda

Attention: David Alexander, President

If to the Principal:

Labor Ready, Inc.

1016 South 28" Street

Tacoma, Washington 98402

Attention: Richard King, President

	
  7.
  	
  In no event shall the Surety be liable in
  the aggregate to any, some, or all entities listed as Obligee for more than
  the penalty of this bond, nor shall it be liable except for a single payment
  for each single Demand. At the Surety's election, any payment due to any
  entity or entities listed as Obligee may be made by its draft issued jointly
  to all.
  

Notice given
under this Excess Bond shall be effective only when received.

IN WITNESS
THEREOF, the said Principal and Surety have signed and sealed this instrument
on this 19th day of January , 2001 .

 

Labor Ready,
Inc.

By: /s/ Ronald
L. Junck

Ronald L. Junck, Secretary

Greenwich
Insurance Company

By: /s/ Patrick
D. Dineen

Patrick D. Dineen, Attorney-in-

EXHIBIT A

'Agreement(s)'
shall be defined as those Agreements listed below, including any modifications
that may be made from time to time, and the insurance policies described
therein:

	
  1. Agreement(s):
  	
  REINSURANCE AGREEMENT between
  	
  Date:
  	
  January 1, 1997 &
  
	 
  	
  MUTUAL INDEMNITY (U.S.) LIMITED and
  	 
  	
  January 1, 1998
  
	 
  	
  LABOR READY ASSURANCE CO.
  	 
  	 
  
	 
  	 
  	 
  	 
  
	
  2. Agreement(s):
  	
  MUTUAL INDEMNITY (U.S.) LTD. WORKERS'
  	 
  	 
  
	 
  	
  COMPENSATION DEDUCTIBLE
  	 
  	 
  
	 
  	
  REIMBURSEMENT COVERAGE issued to LABOR
  	 
  	 
  
	 
  	
  READY, INC.,
  	 
  	 
  
	 
  	
  Policy Nos.
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	
  UST2 190–97
  	
  Date:
  	
  January 1, 1997
  
	 
  	
  UST2 190–98
  	 
  	
  January 1, 1998
  
	 
  	 
  	 
  	 
  
	
  3. Agreement(s):
  	
  LEGION INSURANCE COMPANY WORKERS'
  	 
  	 
  
	 
  	
  COMPENSATION/EMPLOYERS' LIABILITY
  	 
  	 
  
	 
  	
  POLICY issued to LABOR READY, INC.
  	 
  	 
  
	 
  	
  Policy Nos.
  	 
  	 
  
	 
  	 
  	 
  	 
  
	 
  	
  WC1 0575684
  	
  Date:
  	
  January 1, 1998
  
	 
  	
  WC1 0265679
  	 
  	
  January 1, 1997
  
	 
  	
  XS1 01796661
  	 
  	
  January 1, 1997
  
	 
  	 
  	 
  	 
  
	
  4. Agreement(s):
  	 
  	
  Date:
  	 
  
	 
  	 
  	 
  	 
  
	
  5. Agreement(s):
  	 
  	
  Date:
  	 
  
	 
  	 
  	 
  	 
  
	
  6. Agreement(s):Prepared by MerrillDirect

Exhibit 10.16

STATE OF OREGON

DEPARTMENT OF CONSUMER & BUSINESS SERVICES

Workers' Compensation Division

350 Winter Street NE, Room 21

Salem, OR 97310–0220

SURETY BOND

Bond #08167817

KNOW ALL MEN BY THESE PRESENTS,
THAT WE, LABOR READY_NORTHWEST, INC., a Washington
Corporation with headquarters in the CITY OF
Tacoma Washington , as Principal
and Fidelity and Deposit Company of Maryland
an Maryland Corporation
authorized to do business in Oregon, as Surety are held and firmly bound unto
the State of Oregon for the use and benefit of all employes of the Principal
and persons who may be entitled to compensation under the Workers' Compensation
Law of the State of Oregon and to the Workers' Compensation Division of the
State of Oregon for any assessments or contributions due from the Principal to
the Workers' Compensation Division in the sum of SEVEN
HUNDRED FIFTY SEVEN THOUSAND, AND NO/100)
Dollars($ 757,000.00) lawful
money of the United States, assigns jointly and severally, firmly by these
presents.

          THE CONDITION
OF THE FOREGOING OBLIGATION IS SUCH that
if the Principal which is about to make application to become a self–insured
or is a self-insured employer and desires to continue with self-insured status
to carry its own risk pays or causes to be paid (a) all compensation for
compensable injuries that may become due to subject workers and their
beneficiaries, and (b) all assessments, contributions, and other obligations
imposed on the employer and his subject workers that may become due from such
employer to the Workers' Compensation Division provided by the Oregon Workers'
Compensation Law, then this obligation shall be void, otherwise to remain in
full force and effect. In the event the said Principal fails to pay the
compensation and assessments or contributions due the Workers' Compensation
Division provided by law, then Surety will be obligated to pay the compensation
and assessments and contributions provided by law. The liability of the Surety
shall not be affected by Principal's failure to sign this bond.

also apply to
this surety bond:

IT IS FURTHER
UNDERSTOOD AND AGREED that the following conditions shall

	
  1.
  	
  The Surety undertakes and agrees that the
  obligation of this bond shall cover and extend to all past , present,
  existing, and potential liability of said Principal, as a self-insurer, to
  the extent of the penal sum herein named, without regard to specific
  injuries, date or dates of injuries, happenings, or events.

  
	
  2.
  	
  In the event said Principal shall fail to pay
  any award or awards which shall be rendered against it by the Workers'
  Compensation Law or Workers' Compensation Division within thirty (30) days
  after the same becomes or become final, the Surety shall forthwith pay to the
  extent of its liability under this bond, said award or awards, to the parties
  entitled thereto upon the order of the said Workers' Compensation Division.

  
	
  3.
  	
  If the said Principal shall suspend payment or
  shall become insolvent or a receiver shall be appointed for its business, the
  undersigned Surety will pay said award or awards, to the extend of its
  liability under this bond, before the expiration of thirty (30) days after
  the same becomes, or become final, without regard to any proceedings for
  liquidation of said Principal.

  
	
  4.
  	
  The undersigned are held and firmly bound for
  the payment of all legal costs, including reasonable attorney fees incurred
  in all or any actions in proceedings taken to enforce payment of this bond,
  or payments of any award or judgment rendered against the undersigned Surety,
  on account of the executon by it of this bond.

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