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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 deemappropriate. |
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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 theBeneficiary. |
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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 ordistribution. |
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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.  If a director has a      taxable year that is other than the calendar year, then, to the extent      required by Code § 409A, the term “calendar year” (when used in the Plan)      shall instead mean the Participant’s taxable  year. |
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