SEABOARD MARINE LTD.
                       401(K) EXCESS PLAN


                            ARTICLE I
                      ESTABLISHMENT OF PLAN

     Seaboard Marine Ltd. hereby establishes the Seaboard  Marine
401(k) Excess Plan (the "Plan"), effective January 1, 2009.

                           ARTICLE II
                           DEFINITIONS

     The  following definitions shall apply for purposes of  this
Plan:

     "Code" means the Internal Revenue Code of 1986 as from  time
to time amended.

     "Company"  means  Seaboard Marine Ltd.,  a  Liberia  limited
liability company.

     "Eligible  Employee" means, with respect  to  any  Year,  an
employee of the Company or of a Subsidiary who has completed  one
year  of  service  as defined for purposes of eligibility  for  a
matching contribution under the 401(k) Plan, and who has received
compensation  for such Year that is not included as  compensation
under the 401(k) Plan solely on account of the limitation on  the
amount  of compensation that can be taken into account under  the
401(k) Plan for such Year under Section 40I(a)(17) of the Code.

     "401(k) Plan" means the Retirement Savings Plan for Seaboard
Corporation, as amended from time to time.

     "Plan" means the Seaboard Marine 401(k) Excess Plan, as  set
forth herein and as amended from time to time.

     "Subsidiary"  means  any  wholly-owned  subsidiary  of   the
Company.

     "Supplemental Amount" means an amount expressed in terms  of
dollars equal to 3 percent of the amount, if any, of the Eligible
Employee's  compensation  received  for  the  Year  that  is  not
included as compensation under the 401(k) Plan solely on  account
of the limitation on the amount of compensation that can be taken
into   account  under  the  401(k)  Plan  for  such  Year   under
Section  401(a)(17)  of the Code (but only  to  the  extent  such
excess compensation amount is paid to the Eligible Employee after
becoming an Eligible Employee hereunder).

     "Year" means a 12-month period beginning each January 1  and
ending each succeeding December 31.

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                           ARTICLE III
                             BENEFIT

     Except as otherwise provided herein, the Company will pay in
cash  to  each  Eligible Employee with respect to  each  Year  an
amount equal to the Supplemental Amount.

                           ARTICLE IV
                         ADMINISTRATION

     This  Plan  shall be interpreted, construed and administered
by  the  Company  in  its sole and absolute discretion,  and  all
decisions  and determinations of the Company hereunder  shall  be
binding  upon  all  Eligible Employees and their  successors  and
assigns.

                            ARTICLE V
                      NO EMPLOYMENT RIGHTS

     The adoption of this Plan does not give any person any right
to  be  retained  in  the employ of the Company,  and  no  rights
granted  under the Plan shall be construed as creating a contract
of  employment. The right and power of the Company to dismiss  or
discharge any person is expressly reserved.

                           ARTICLE VI
                    AMENDMENT AND TERMINATION

     The  Company can amend or terminate the Plan at any time  in
its sole discretion.

                           ARTICLE VII
                          GOVERNING LAW

     The  provisions  of this Plan shall be governed,  construed,
enforced  and  administered in accordance with the  laws  of  the
State of Florida.

                          ARTICLE VIII
                            HEADINGS

     The  headings  have been inserted for convenience  only  and
shall not affect the meaning or interpretation of the Plan.

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     IN  WITNESS WHEREOF, the Company has caused this Plan to  be
executed  as  of  the  1st  day of January,  2009,  by  its  duly
authorized officer.

                                   SEABOARD MARINE LTD.



                                   By:  /s/ Steven J. Bresky
                                        Steven J. Bresky
                                        Vice President
                                        December 18, 2009



Attest:   /s/ David M. Becker
Title:    Vice President

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