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| 1.01 | The      purpose of this 2005 Deferred Compensation Plan for Non-Employee      Directors (the "Plan") is to attract and retain highly qualified      individuals to serve as members of the Board of Directors (the "Board") of      Burlington Northern Santa Fe Corporation (the "Company").  The      Effective Date of the Plan is April 21, 2005. |
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| 2.01 | The      Plan shall be administered by the Directors and Corporate Governance      Committee of the Board (the      "Committee").  The Committee shall interpret the Plan,      prescribe, amend and rescind the rules relating to it from time to time as      it deems proper and in the best interests of the Company, and      take any other action necessary for the administration of the      Plan.  Any decision or interpretation adopted by the Committee      shall be final and conclusive and shall be binding upon all Participants      (as defined below). |
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| 3.01 | Participation      in the Plan is voluntary. Any member of the Board who is not an employee      of the Company or any of its subsidiaries (a "non-employee director")      shall be eligible to participate in the Plan beginning 30 days after      becoming a non-employee director, subject to the terms of the Plan. |
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| 3.02 | A      non-employee director shall become a "Participant" in the Plan by electing      to defer payment of all or a portion of his Compensation (as defined      below) pursuant to the terms of a "Deferral Election." A director's      Deferral Election shall be subject to the following: |
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|   | (a) | An      individual who, prior to the beginning of any calendar year, is a      non-employee director shall be eligible to file a Deferral Election with      respect to his Compensation earned in such calendar year. Except as      otherwise provided in this Section 3.02, a Deferral Election with respect      to Compensation earned in a calendar year shall be filed during such      period before the first day of such year as may be established by the      Committee. |
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|   | (b) | Notwithstanding      the provisions of paragraph (a) above, for the first calendar year in      which an individual is a non-employee director, the director may file a      Deferral Election not later than 60 days after the individual becomes a      non-employee director. A Deferral Election made under this paragraph (b)      shall not apply to amounts earned for services rendered prior to the      30th      day after the individual becomes a non-employee director, and shall not      apply to amounts earned for services rendered prior to the date the      election has become irrevocable in accordance with Section 3.04. |
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|   | (c) | A      Participant shall be fully vested in the Participant's deferral amounts      and earnings at all times, subject to investment gains and losses. |
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| 3.03 | For      calendar year 2005, an individual who is a non-employee director on the      Effective Date may file a Deferral Election not later than 30 days after      the Effective Date, and such election shall not apply to amounts earned      for services rendered prior to the date the election is filed. |
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| 3.04 | A      non-employee director's Deferral Election applicable to Compensation      amounts earned in any calendar year shall also apply to Compensation      earned in each subsequent calendar year while the individual is a      non-employee director. However, a non-employee director, in accordance      with paragraph 3.02(a), may modify or cancel a Deferral Election, or file      a new Deferral Election, provided that no Deferral Election with respect      to Compensation earned in any year may be changed on or after, and all      such Deferral Elections shall be irrevocable as of the day immediately      preceding, the date the year has begun, except that a Deferral Election      made in accordance with Section 3.02(b) shall be irrevocable when filed. |
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| 3.05 | Subject      to the terms of the Plan, the Participant shall specify, as part of his      initial Deferral Election, and in accordance with Article IV, the time and      form of distribution of the amounts deferred under the Plan (“Distribution      Election”), including amounts deferred with respect to Compensation earned      in the first year to which the Deferral Election applies and all future      years.  Except as otherwise permitted under §409A of the      Internal Revenue Code (the "Code"), and notwithstanding the provisions of      Section 3.04, the Distribution Election shall be irrevocable. |
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| 4.01 | Each      Participant may elect to have all or a specified percentage of his      Compensation deferred pursuant to Article III until he ceases to be a      director. |
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| 4.02 | "Compensation"      shall mean the annual retainer and meeting fees for Board and Board      committee meetings. Annual retainer fees which are paid in quarterly      installments shall be treated as earned on a pro rata basis over the      course of the calendar quarter for which they are paid. |
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| 4.03 | The      Company shall establish a memorandum account for each Participant who has      elected to defer a portion of his Compensation for any year and shall      credit such account for Compensation on the date payment would otherwise      have been made. |
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| 4.04 | Investment      gains and losses shall be credited to each member's memorandum account no      less frequently than at the end of each quarter and at such other periods      as may be determined by the Committee. Such gains and losses shall be      based on the investment option or options selected and the returns on such      investment option or options. The available investment options shall be      established by the Board with such terms and conditions as it may deem      appropriate. |
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| 4.05 | Distribution      of a Participant's memorandum account shall be as follows: |
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| (a)   | in      a lump sum in cash in January of the year following the year in which the      Participant ceases to be a director;or |
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|   |               (b) | if      irrevocably elected by the Participant at the time of the initial Deferral      Election described in Section 3.02 or 3.03, in a number of equal annual      installments, not to exceed ten, commencing in January of the year      following the year in which the Participant ceases to be a director. |
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| 4.06 | Investment      returns shall continue to accrue on the balance of any memorandum account      until the date of its distribution. |
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| 4.07 | Notwithstanding      Section 4.05, if a Participant dies prior to payment of all amounts due      under the Plan, any unpaid balance of the Participant's memorandum account      shall be payable to the Participant's Beneficiary (as defined below) in a      lump sum as soon as practicable in January of the year following the year      in which the Participant died. "Beneficiary" shall mean any individual,      trust or other recipient named by a Participant to receive amounts due      hereunder upon his death. Subject to the discretion of the Committee, a      Participant may at any time designate the Beneficiary to receive any      amounts due hereunder in the event of the Participant's death, and may      change any such designation. Each such designation of a Beneficiary shall      be evidenced by a written instrument filed with the Committee and signed      by the Participant. A Beneficiary designation may be revoked or amended at      any time but only by the completion and filing with the Committee of a new      Beneficiary designation instrument, provided, however, that if a      Participant's spouse is named as such Participant's Beneficiary, and the      Participant and such spouse are subsequently divorced, then the      designation of the spouse made prior to the divorce shall be null and      void. In order to designate      a former spouse as a Beneficiary, a new Beneficiary designation instrument      must be completed.  If no Beneficiary designation is on file      with the Committee at the time of the death of a Participant, or if for      any reason such designation is defective, then the Participant's estate      shall be deemed to be the Beneficiary. |
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| 4.08 | The      Committee shall distribute periodic earnings reports to the Participants      under the Plan. |
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| 5.01 | The      deferred compensation to be paid to the Participants pursuant to the Plan      is an unfunded obligation of the Company. Nothing herein contained shall      require the Company to segregate any monies from its general funds, or to      create any trusts, or to make any special deposits with respect to this      obligation. Title to and beneficial ownership of any funds invested or      reinvested, including the income or profits therefrom, which the Company      may make to fulfill its obligations under the Plan shall at all times      remain in the Company. A Participant's right to receive the payment of any      deferred compensation may not be assigned, transferred, pledged or      encumbered except by will or by the laws of descent or distribution. |
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| 5.02 | The      Board may from time to time amend, suspend or terminate the Plan, in whole      or in part, and if the Plan is suspended or terminated, the Board may      reinstate any or all of its provisions. Notwithstanding the preceding      sentence, an amendment or termination of the Plan may accelerate payment      of Plan benefits only to the extent permitted under Code §409A. |
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| 5.03 | It      is intended that the provisions of the Plan comply with Code §409A, and      all provisions of the Plan shall be construed and interpreted in a manner      consistent with the requirements for avoiding taxes or penalties under      Code §409A.  Each Participant is solely responsible and liable      for the satisfaction of all taxes and penalties that may be imposed on or      for the account of such Participant in connection with the Plan (including      any taxes and penalties under Code §409A), and the Company shall not have      any obligation to indemnify or otherwise hold any Participants harmless      from any or all of such taxes or penalties. |
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