Document:

dex1017.htm

    
      

      

    

    
 

    Exhibit 10.17

    

    STOCK
OPTION AWARD AGREEMENT

    DATED
____________________

    

    The
Compensation and Development Committee of the Burlington Northern Santa Fe
Corporation (“BNSF” or the “Company”) Board of Directors has awarded you (the
“Employee”) a grant of Non-Qualified Stock Options (“NQSOs” or “Options”) as
follows:

    

    Grant Date:

    Total Number of NQSOs:

    Option Price:

    Vesting -- First Third

                  --
Second Third

                  --
Last Third

    Expiration Date:

    

    The
Options are granted under and governed by the terms and conditions of the BNSF
1999 Stock Incentive Plan (the “Plan”) and the terms and conditions set forth
herein below.

    

    To accept
this Award Agreement, you must click on the acceptance box at the end of this
Agreement.  Anything herein contained to the contrary notwithstanding,
unless this Award Agreement is electronically accepted or executed by the
Employee and delivered to the Secretary of BNSF on or before _______________,
the award described herein may be withdrawn and cancelled by the
Company.

    

    By your
acceptance of this Award Agreement:

    

    
      	
               

            	
              (1)
      you agree to abide by the terms and conditions of the Plan and this Award
      Agreement; and 

            

    

    

    
      	
               

            	
              (2)
      you attest that you were a salaried employee of the Company or a Related
      Company on _________________, with respect to the award made herein
      

            

    

    

    The following terms and conditions
shall apply to the award made by this Award Agreement.

    

    1.
            Acceptance . The
Employee agrees to perform services for BNSF or its Related Companies and
accepts this grant along with the terms and provisions of the Plan and this
Agreement. 

    

    2.
            Right to Purchase .
BNSF grants the Employee a right and option to purchase, from time to time, the
number of shares of Stock ("Option Shares") specified in this Agreement,
providing the purchase(s) occurs during the exercise period, beginning on the
respective vesting dates specified herein and ending no later than ten years
after the date of grant, but in no event earlier than six (6) months from the
date of grant. This grant of NQSOs, is subject to the terms and conditions of
this Agreement and the Plan. 

    

    3.
            Restricted Period .
The Options granted hereby shall vest as set forth above. Fractional Options are
not exercisable. 

    

    

    4.
            Partial Exercise .
The grant of Options hereunder may be exercised in its entirety or in part and
at different times during the exercise period. However, the right to exercise an
Option ceases and the Option may not be exercised if it terminates or lapses at
an earlier date under the Plan or this Agreement. 

    

    5.           
Taxes.  The Employee agrees
that BNSF or the Related Companies may require payment by Employee of federal,
state, railroad retirement or local taxes upon the exercise of
Options.  Employee may use cash or shares to satisfy tax liabilities
incurred, provided that if shares are used, shares from Options being exercised
may be used only to satisfy (i) applicable railroad retirement taxes, and (ii)
state income taxes and federal income taxes to the extent of the Supplemental
Federal Income Tax Withholding Rate as established by the Internal Revenue
Code.  Any additional taxes may be satisfied by use of attestation of
ownership of other shares, provided, however, that the total shall not exceed
the combined maximum marginal tax rates applicable under federal and state tax
laws.  In the absence of a response from the Employee, BNSF will use
shares to satisfy the tax liabilities incurred.

    

    6.
            Exercise Notice .
Same-day-sale, sell-to-cover, and cash exercises must be completed through
E*TRADE or such other party as the Company may designate (the
“Administrator”).  Swap exercises may be completed by written notice
to the Administrator which states the number of shares to be exercised and is
effective upon receipt by the Administrator.  Once the notice to
exercise is delivered to the Administrator, the election to exercise is
irrevocable. 

    

    7.
            Payment of Option Purchase
Price . An Employee electing to exercise an Option must pay the full
Option purchase price of the Option Shares on the date of exercise. Payment may
be made in cash or Stock of BNSF. If Stock is offered as payment, such shares
shall be valued at Fair Market Value on the date of exercise of the Option as
defined in the Plan. 

    

    8.
            Options Not
Transferable . Unless otherwise established by the Committee, an Option
may be exercised only by the Employee, and is not transferable by the Employee.
In the event of death, the Employee's beneficiary designation will apply. In the
absence of such designation or if for any reason such designation is defective,
the Employee's will or the laws of descent and distribution will apply.

    

    9.
            Forfeiture . Subject
to paragraphs 10 and 11 below, all unexercised Options granted are forfeited by
the Employee and lapse upon termination of salaried employment. Options will be
forfeited by the Employee in the event of resignation, termination by the
Company for Cause, or for any other similar reason. 

    

    10.
            Death . In the event
of an Employee’s death, the Restricted Period, as defined in the Plan, shall
lapse on the Options awarded.  The Options which are or become
exercisable at the time of death may be exercised by the Employee's designated
beneficiary or, in the absence of such designation, by the person to whom
his/her rights shall pass by will or the laws of descent and distribution, until
the expiration date of the Options set forth herein or, if earlier, the date
which is five (5) years from the Date of Termination   of employment, and will
not be exercisable thereafter. 

    

    11.
            Termination for Other than
Cause; Exercise of Seniority . In the event an Employee terminates
employment because of Disability or Retirement under a Qualified Retirement Plan
or is terminated by the Company for any reason other than Cause, the Restricted
Period shall lapse on a pro rata portion ( i.e ., a fraction equal to
the number of whole months from the date of the grant to the date of termination
divided by the number of whole months from the date of the grant to the original
vesting date) of outstanding Options which are then subject to a Restricted
Period, subject to any limitations in the Plan The Options which are or become
exercisable because of the Employee's Disability or Retirement under a Qualified
Retirement Plan, or termination by the Company other than for cause, may be
exercised by the Employee until the expiration date of the Options set forth
herein or, if earlier, the date which is five (5) years from the Date of
Termination   of
employment, and will not be exercisable thereafter. If an Employee terminates
employment and his rights to exercise his Options under this Plan expire prior
to six months from the grant date, such Options shall be immediately forfeited
and cancelled. If an Employee exercises his seniority at any time after the
grant date of any Options, such Options, including vested Options, shall be
immediately forfeited and cancelled. Notwithstanding any provisions to the
contrary, no Options may be exercised after the expiration date of the Options
set forth herein. 

    

    12.           
Change
in Control.  In the event of termination by the
Company for reasons other than cause in connection with and aftera Change in Control, Options will become
exercisableas describedin Section 12.6 of the Plan or, if applicable, the
Employee's individual Change in Control letter agreement, the BNSF Railway
Company Employee Retention Program, or such other arrangement as may be approved
pursuant to the terms of the Plan.

    

    13.           
No Contract of
Employment.  Nothing in this Agreement or in the Plan
shall confer any right to continued employment with BNSF or the Related
Companies nor restrict BNSF or the Related Companies from termination of the
employment relationship of Employee at any time.

    

    14.           
Heirs
and Successors.  ThisAward Agreement shall be binding upon,
and inure to the benefit of, the Company and its successors and assigns, and
upon any person acquiring, whether by merger, consolidation, purchase of assets
or otherwise, all or substantially all of the Company’s assets and
business.  If any rights exercisable by the Employee or benefits
deliverable to the Employee under thisAward Agreement have not been exercised
or delivered, respectively, at the time of the Employee’s death, such rights
shall be exercisable by the Designated Beneficiary, and such benefits shall be
delivered to the Designated Beneficiary, in accordance with the provisions of
thisAward Agreement.  The
“Designated Beneficiary” shall be the beneficiary or beneficiaries designated by
the Employee in a writing filed with the Company in such form and at such time
as the Company shall require.  If a deceased Employee fails to
designate a beneficiary, or if the Designated Beneficiary does not survive the
Employee, any rights that would have been exercisable by the Employee and any
benefits distributable to the Employee shall be exercised by or distributed to
the legal representative of the estate of the Employee.  If a deceased
Employee designates a beneficiary and the Designated Beneficiary survives the
Employee but dies before the Designated Beneficiary’s exercise of all rights
under this Award Agreement or before the complete distribution of benefits to
the Designated Beneficiary under this Agreement, then any rights that would have
been exercisable by the Designated Beneficiary shall be exercised by the legal
representative of the estate of the Designated Beneficiary, and any benefits
distributable to the Designated Beneficiary shall be distributed to the legal
representative of the estate of the Designated Beneficiary.

    

    15.           
No
Violation of Law.  Notwithstanding any other
provision of this Agreement, Employee agrees that BNSF shall not be obligated to
deliver any shares of Stock or make any cash payment, if counsel to BNSF
determines such exercise, delivery or payment would violate any law or
regulation of any governmental authority or agreement between BNSF and any
national securities exchange upon which the Stock is listed.

    

    16.           
Conflicts.  In the event of a conflict
between the terms of this Agreement and the Plan or a resolution of the
Committee, the Plan or the resolution shall be the controlling
document.

    

    17.           
Administration.  Any interpretation of
thisAward Agreement by the Committee or its
delegate and any decision made by the Committee or its delegate with respect to
thisAward Agreement are final and binding on
all persons.

    

    18.           
Amendment.  ThisAward Agreement may be amended in
accordance with the provisions of the Plan, and may otherwise be amended by
written agreement of the Employee and the Company without the consent of any
other person.

    

    
      	
                     
      19.  

            	
              Terms.  Except as otherwise
      provided in thisAward Agreement, and
      except  where the context clearly implies
      or indicates the contrary, a word, term, or
      phrase

              defined in the Plan shall have the
      same meaning in thisAward
      Agreement.

            

    

    

    IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above
written.

    

    BURLINGTON NORTHERN

    SANTA FE CORPORATIONdex1018.htm

    
      

      

    

    
 

    Exhibit 10.18

    BURLINGTON NORTHERN SANTA
FE

    1999 STOCK INCENTIVE
PLAN

    

    

    RESTRICTED
STOCK UNIT AWARD AGREEMENT

    

    

    This Award Agreement ("Award Agreement")
was made and entered into this [_______________](“Grant Date”) by and between Burlington
Northern Santa Fe Corporation, a Delaware Corporation, (hereinafter "BNSF")
and

    

    _____________________

    

    an employee of BNSF or one of its
subsidiary companies (hereinafter "Employee").

    

    

    W I T N E S S E T H

    

    

    BNSF has adopted the Burlington Northern
Santa Fe 1999 Stock Incentive Plan for Burlington Northern Santa Fe Corporation
and Related Companies (the "Plan").  The purpose of the Plan is to
attract and retain key executives possessing outstanding ability, motivate
executives to achieve the growth goals of BNSF by making a portion of their
total compensation dependent on the accomplishment of these goals and to further
the identity of the interests of the shareholders of BNSF and key executives of
BNSF and its subsidiaries by increasing the opportunities for these executives
to become shareholders.

    

    WHEREAS, the Compensation and
Development Committee ("Committee") of the BNSF Board of Directors wishes to
encourage superior performance by the Employee by granting Employee an award of
Restricted Stock Units as defined in the Plan;

    

    WHEREAS, the Employee desires to perform
services for BNSF and to accept said grant in accordance with the terms and
provisions of the Plan and this Award Agreement;

    

    NOW THEREFORE, BNSF grants to the
Employee [_____]shares of Restricted Stock Units
(“Award”) with the restrictions to lapse on [_____________]as set forth below.

    

    BNSF and Employee hereby agree that this
Award of Restricted Stock Units shall be subject to the following terms,
conditions and restrictions:

    

    1.           
Restrictions
on Transfer.  Restricted Stock Units as
referenced in the Plan shall not be sold, pledged, assigned, transferred, or
encumbered during the period the Restricted Stock Units are subject to
restrictions set forth in this Award Agreement, and the Employee shall not be
treated as a stockholder with respect to the Restricted Stock
Units.

    

    2.           
Stock
Power. Restricted Stock
Units awarded hereunder shall be registered in the name of the Company on behalf
of the Employee and the Employee’s acceptance of this Award Agreement
constitutes a grant by the Employee of a power of attorney authorizing a Stock
Power to be endorsed in blank prior to the distribution with respect to
the award or the forfeiture of the award.

    

    3.           
Dividends.  As of each dividend record
date for Stock occurring on or after the Grant Date of the Restricted Stock
Units, and prior to the date of distribution of shares of Stock with respect to
the Restricted Stock Units (or, if applicable, the date of forfeiture of the
Restricted Stock Units), the Employee shall receive as wages a cash payment
equal to the amount of the dividend that would be payable with respect to shares
of Stock equivalent in number to the Restricted Stock Units held on the dividend
record date.  Such payment shall be made on the date of payment of the
applicable dividend.  Notwithstanding the foregoing, however,
in the event that an extraordinary cash dividend is paid on Stock prior to the
vesting date of the Restricted Stock Units granted herein, a cash payment shall
vest and be paid to the Employee at the same time and in the same proportion as
the Restricted Stock Units vest.

    

    4.           
Vesting.  Subject to paragraph 5, if
the Employee's Date of Termination does not occur prior to the vesting date of
the time-based Restricted Stock Units, then the Employee shall become vested in
such Restricted Stock Units on the vesting date.  As of the vesting
date and subject to the payment of taxes, the Employee shall receive one share
of Stock for each Restricted Stock Unit in which the Employee is then vested,
subject to the terms of this Award Agreement, provided, however, that the
Company shall be entitled to retain possession of each such share of Stock for
such time as is necessary for the Company to make the distribution of each share
of Stock to the Employee.  As of the vesting date of the shares of
Stock with respect to any Units, such Units shall no longer be
outstanding.

    

    5.           
Termination
of Employment.  The Restricted Stock Units
are forfeited upon the Employee's Date of Termination (which, for purposes of
this Award Agreement, shall be the earlier of the "Date of Termination" as
defined in the Plan or the date on which the Employee ceases to be in salaried
employment of the Company and Related Companies) for any reason other than
death, Disability, termination by the Company other than for Cause, or
Retirement.  In the event of an Employee's Date of Termination due to
death, all restrictions shall lapse and one share of the Stock for each
Restricted Stock Unit shall be issued to the Employee's designated beneficiary
or, in the absence of such designation, by the person to whom the Employee's
rights shall pass by will or the laws of descent and
distribution.  In the event of an Employee's Date of
Termination due to Disability, termination by an Employer or Related Company
other than for Cause or Retirement, the restrictions shall lapse on a pro rata
portion of the Restricted Stock Units.  For purposes of the
preceding sentence, the pro rata portion of the Award shall equal the
total number of Restricted Stock Units covered by this Award Agreement
multiplied by a fraction, the denominator of which is the total number of months
of the period between the Grant Date and the vesting date applicable to the
Award, and the numerator of which is the number of complete months which elapsed
between the Grant Date and the Date of Termination.  Notwithstanding
anything to the contrary set forth elsewhere in this Award Agreement, nothing is
intended to curtail any rights the Employee may have to any vesting of Stock as
set forth in the BNSF Railway Company Employee Retention Program, as amended, or
in any Severance Agreement or Change in Control Agreement which the Company may
have in effect with the Employee.  In the event that an Employee's
Date of Termination is for Cause, or the Employee resigns, all Restricted Stock
Units that are not vested on the Date of Termination shall be
forfeited.  The Restricted Stock Units shall be forfeited upon the
exercise of seniority at any time after the Grant Date.

    

    6.           
Taxes.  The Employee agrees
that BNSF or the Related Companies may require payment by Employee of federal,
state, railroad retirement or local taxes upon the vesting of an
Award.  Employee may use cash or shares to satisfy tax liabilities
incurred, provided that if shares are used, shares from the vesting Award may be
used only to satisfy (i) applicable railroad retirement taxes, and (ii) state
income taxes and federal income taxes to the extent of the Supplemental Federal
Income Tax Withholding Rate as established by the Internal Revenue
Code.  Any additional taxes may be satisfied by use of attestation of
ownership of other shares of Stock, provided, however, that the total shall not
exceed the combined maximum marginal tax rates applicable under federal and
state tax laws.  In the absence of a response from the Employee, BNSF
will use shares of Stock to satisfy the tax liabilities incurred.

    

    7.           
Change
in Control.   In the event of
termination by the Company for reasons other than Cause in connection with and
after a Change in Control, shares of Stock shall be released as described in
Section 12.6 of the Plan or, if applicable, the Employee’s individual Change in
Control letter agreement, the BNSF Railway Company Employee Retention Program,
or such other arrangement as may be approved pursuant to the terms of the
Plan.

    

    8.           
IRC
Section 409A.  Notwithstanding any other
provisions of this Award  Agreement to the contrary, the Company shall
not make any such payments or deliver any such shares of Stock until such time
as it may reasonably believe that such delivery will not result in acceleration
of tax or imposition of penalties under section 409A of the Internal Revenue
Code.

    

    9.           
No Contract of
Employment.  Nothing in this Award Agreement or in
the Plan shall confer any right to continued employment with BNSF or the Related
Companies nor restrict BNSF or the Related Companies from termination of the
employment relationship of Employee at any time.

    

    10.           
Heirs
and Successors.  This Award Agreement shall
be binding upon, and inure to the benefit of, the Company and its successors and
assigns, and upon any person acquiring, whether by merger, consolidation,
purchase of assets or otherwise, all or substantially all of the Company’s
assets and business.  If any rights exercisable by the Employee or
benefits deliverable to the Employee under this Award Agreement have not been
exercised or delivered, respectively, at the time of the Employee’s death, such
rights shall be exercisable by the Designated Beneficiary, and such benefits
shall be delivered to the Designated Beneficiary, in accordance with the
provisions of this Award Agreement.  The “Designated Beneficiary”
shall be the beneficiary or beneficiaries designated by the Employee in a
writing filed with the Company in such form and at such time as the Company
shall require.  If a deceased Employee fails to designate a
beneficiary, or if the Designated Beneficiary does not survive the Employee, any
rights that would have been exercisable by the Employee and any benefits
distributable to the Employee shall be exercised by or distributed to the legal
representative of the estate of the Employee.  If a deceased Employee
designates a beneficiary and the Designated Beneficiary survives the Employee
but dies before the Designated Beneficiary’s exercise of all rights under this
Award Agreement or before the complete distribution of benefits to the
Designated Beneficiary under this  Award Agreement, then any rights
that would have been exercisable by the Designated Beneficiary shall be
exercised by the legal representative of the estate of the Designated
Beneficiary, and any benefits distributable to the Designated Beneficiary shall
be distributed to the legal representative of the estate of the Designated
Beneficiary.

    

    11.           
No
Violation of Law.  Notwithstanding any other
provision of this Award Agreement, Employee agrees that BNSF shall not be
obligated to deliver any shares of Stock or make any cash payment, if counsel to
BNSF determines such exercise, delivery or payment would violate any law or
regulation of any governmental authority or agreement between BNSF and any
national securities exchange upon which the Stock is listed.

    

    12.           
Conflicts.  In the event of a conflict
between the terms of this Award Agreement and the Plan or a resolution of the
Committee, the Plan or the resolution shall be the controlling
document.

    

    13.           
Administration.  Any interpretation of this
Award Agreement by the Committee or its delegate and any decision made by the
Committee or its delegate with respect to this Award Agreement shall be final
and binding on all persons.

    

    14.           
Amendment.  This Award Agreement may be
amended in accordance with the provisions of the Plan, and may otherwise be
amended by written agreement of the Employee and the Company without the consent
of any other person.

    

    15.           
Terms.  Except as otherwise
provided in this Award Agreement, and except where the context clearly implies
or indicates the contrary, a word, term, or phrase defined in the Plan shall
have the same meaning in this Award Agreement.

    

    Anything herein contained to the
contrary notwithstanding, this Award Agreement shall cease to be of any force or
effect unless executed by the Employee and delivered to the Secretary of BNSF by
_____________.

    

    IN WITNESS WHEREOF, the parties hereto
have executed this Award Agreement as of the day and year first above
written.

    

    

                                                             
BURLINGTON NORTHERN

                                                              SANTA
FE CORPORATION

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