Expeditors International of Washington Inc – ‘10-K’ for 12/31/95 – EX-10.26

As of:  Monday, 4/1/96   ·   For:  12/31/95   ·   Accession #:  912057-96-5655   ·   File #:  0-13468

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         22    111K 
 2: EX-10.25    Loan Modification Agreement Dated 8/2/95               1      8K 
 3: EX-10.26    Loan Modification Agreement Dated 3/22/96              1      8K 
 4: EX-11.1     Computation of Per Share Net Earnings                  1      4K 
 5: EX-13.1     Financial Highlights                                  24    120K 
 6: EX-21.1     Subsidiaries of the Registrant                         2     10K 
 7: EX-23       Consent of Ind Accts                                   1      7K 
 8: EX-27       FDS Exh. 27                                            2      9K 

EX-10.26   —   Loan Modification Agreement Dated 3/22/96
Exhibit Table of Contents

EX-10.26
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 EXHIBIT 10.26

[Bank Logo]                     LOAN MODIFICATION                               
AGREEMENT       

  This agreement amends the REVOLVING NOTE dated JUNE 6, 1994 ("Note") and
Credit Agreement dated JUNE 6, 1994 ("Credit Agreement"), each executed by      
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. ("Borrower") in favor of Bank of   
America NW, N.A., doing business as Seafirst Bank, successor by  name change to 
Seattle-First National Bank ("Bank"), regarding a loan in the maximum principal 
amount of $10,000,000.00 (the "Loan"), which currently has a maximum principal  
amount of $15,000,000.00.  For mutual consideration, Borrower and Bank agree to 
amend the above loan documents as follows:                                      

    1.   MATURITY DATE.  The maturity date of the Note is changed to
March 31, 1997.  Bank's commitment to make advances to Borrower under its line  
of credit is also extended to MARCH 31, 1997.                                   

       2.   OTHER TERMS.  Except as specifically amended by this agreement
or any prior amendment, all other terms, conditions, and definitions of the     
Note, Credit Agreement, and all other security agreements, guaranties, deeds of 
trust, mortgages, and other instruments or agreements entered into with regard  
to the Loan shall remain in full force and effect.                              

DATED March 22, 1996.                                       

Bank:                      Borrower:                        

SEATTLE-FIRST NATIONAL BANK        EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. 

               By:     /s/ Peter J. Rose
                                     -------------------------------
                      Title:   Chief Executive Officer
                                     -------------------------------

By:      /s/ Stan Diddams                                                       
-------------------------                                           
Title    Vice President                                                         
-------------------------                                           

                 By:     /s/ R. Jordan Gates
                                   -------------------------------
                     Title:  Chief Financial Officer
                                   -------------------------------

24    

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
		3/31/97		10-K405,  10-Q
Filed on:		4/1/96
		3/22/96
For Period End:		12/31/95
		6/6/94
				List all Filings