EXECUTIVE OFFICERS' BONUS POLICY
PURPOSE: The purpose of this policy is to establish guidelines for the payment of incentive compensation to
named executive officers of Seaboard Corporation.
AFFECTS: The Chief Executive Officer and the other named executive officers of Seaboard Corporation, as
defined in Item 402 of Regulation S-K.
1. Incentive Compensation Philosophy: The Company maintains the philosophy that determination of incentive
compensation for its executive officers is based upon a recognition that these officers are responsible for
implementing the Company's long-term strategic objectives. All executive compensation, including the incentive
portion, is designed to attract and retain top executive employees.
2. Basis for Determination of Incentive Compensation:
The Board of Directors shall determine annual bonus amounts for the named executive officers, including the
Chief Executive Officer. This determination will be based on a subjective review of the Company's financial
performance, an assessment of each officer's individual contribution to that performance and other discretionary
The amount assigned to each officer is discretionary.
3. Method and Timing of Payments: Payments will be made in cash after year-end financials are available. This
will normally occur about February 1 following the end of the previous fiscal year.
EFFECTIVE DATE: As of the 2005 bonus, and supersedes all Executive Bonus Policies in effect prior thereto
with respect to the named executive officers.
This EMPLOYMENT AGREEMENT (this "Agreement") is entered into as of July 1, 2005 by and between
SEABOARD MARINE LTD., a Liberian corporation (together with any Successor thereto, the "Company"),
and Edward A Gonzalez ("Executive").
WHEREAS, the Company desires to employ and secure the exclusive services of Executive on the terms and
conditions set forth in this Agreement;
WHEREAS, Executive desires to accept such employm