Document:

AMENDMENT NO. 1
                   TO THE SEABOARD CORPORATION
            NON-QUALIFIED DEFERRED COMPENSATION PLAN

     This  Amendment  made  this  17  day of  December,  2009  by
Seaboard Corporation, a Delaware corporation (the "Company").

                      W I T N E S S E T H:

     WHEREAS,  the  Company  maintains the  Seaboard  Corporation
Non-Qualified Deferred Compensation Plan (the "Plan");

     WHEREAS,  the  Company desires to amend the Plan  to  remove
Seaboard  Marine Ltd. from Appendix A, listing the  participating
employers of the Plan;

     WHEREAS, the Company also desires to amend Article V of  the
Plan  to  provide  that  the Company, in its  sole  and  absolute
discretion, may pay the Company Contribution in cash, in lieu  of
crediting the Account of a Participant;

     NOW,   THEREFORE,  the  Company  hereby  amends  the   Plan,
effective January 1, 2009:

     1.    Appendix  A to the Plan is amended to remove  Seaboard
Marine  Ltd.  as  a Participating Employer effective  January  1,
2009.  Employees of Seaboard Marine Ltd. may not have any further
Deferrals after January 1, 2009; however, Deferrals prior to such
date shall continue to be subject to the provisions of the Plan.

     2.   Article V, Company Contributions, of the Plan is amended as
follows:

          a)   To amend and restate Section 5.1 to read as follows:

               5.1  Participation.  Except as set forth
          in    Section   5.3   below,   as   soon   as
          administratively feasible after the last  day
          of each Plan Year a Company Contribution will
          be   credited  to  the  Accounts   of   those
          Participants  determined  by  the   Committee
          under Section 3.2.

          b)   Amend Article V of the Plan to add a new Section 5.3
     immediately following Section 5.2 of the Plan, providing  as
     follows:

               5.3  Payment of Company Contribution  in
          Cash.    Notwithstanding  anything   to   the
          contrary  contained in this  Article  V,  the
          Company, in its sole and absolute discretion,
          may  pay  to  the Participant a  cash  amount
          equal to the Company Contribution, if any, in
          lieu   of  crediting  the  Account  of   said
          Participant,  as  provided  above   in   this
          Article V.

<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Amendment to
be executed the day and year first above written.

                                   SEABOARD CORPORATION

                                   By:  /s/ Steven J. Bresky
                                        Steven J. Bresky
                                        President

ATTESTED:

By:  /s/ David M. Becker
     David M. Becker
     Secretary

<PAGE> 2sjgfourthindenture.htm

    

     

    EXHIBIT
4.1

     

    FOURTH
SUPPLEMENT

     

    

     

    TO
INDENTURE OF TRUST, DATED AS OF OCTOBER 1, 1998

     

    THIS
FOURTH SUPPLEMENT TO INDENTURE OF TRUST, dated as of February 26, 2010 (this
“Fourth Supplement”), between SOUTH JERSEY GAS COMPANY, a corporation organized
and existing under the laws of the State of New Jersey (the “Company”), and THE
BANK OF NEW YORK MELLON (formerly known as The Bank of New York), a New York
banking corporation, as trustee (the “Trustee”), under the Indenture of Trust
hereinafter mentioned.

     

    WITNESSETH

     

    WHEREAS,
the Company has heretofore duly executed, acknowledged and delivered to the
Trustee, a certain Indenture of Trust, dated as of October 1, 1998 (the
“Original Indenture,” and as supplemented by the First Supplement, dated as of
June 29, 2000 (the “First Supplement”), the Second Supplement, dated as of July
5, 2000 (the “Second Supplement”), the Third Supplement, dated as of July 9,
2001 (the “Third Supplement”), and this Fourth Supplement, the “Indenture”) to
provide for the issuance of its Notes; and

     

    WHEREAS,
as provided in the Indenture, the Company may from time to time issue and sell
additional Notes to be issued under the Indenture; and

     

    WHEREAS,
the Company may, in the future, desire to issue additional Notes that have terms
different from those provided for in the Indenture; and

     

    WHEREAS,
the execution and delivery of this Fourth Supplement have been duly authorized
by a duly authorized and constituted committee of the Board of Directors of the
Company; and

     

    WHEREAS,
all acts and things prescribed by law, by the charter and bylaws of the Company
and by the Indenture necessary to make the additional Notes that may be issued
under the Indenture after the date of this Fourth Supplement have terms
consistent with the Indenture as supplemented hereby, when executed by the
Company and authenticated by the Trustee as provided in the Indenture, valid,
binding and legal obligations of the Company, and to make this Fourth Supplement
a valid, binding and legal instrument in accordance with its terms, have been
done, performed and fulfilled, and the execution and delivery hereof have been
in all respects duly authorized.

     

    NOW
THEREFORE, THIS FOURTH SUPPLEMENT TO INDENTURE WITNESSETH:

     

    That in
order to declare the terms and conditions upon which the Notes issued after the
date of this Fourth Supplement may be authenticated, issued and delivered and in
consideration of the premises and of the purchase and acceptance of any such
Notes by the Noteholders thereof and the sum of One Dollar duly paid to it by
the Trustee at the 

    
      
        
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    execution
of this Fourth Supplement, the receipt whereof is hereby acknowledged, the
Company covenants and agrees with the Trustee for the equal and proportionate
benefit of the respective Noteholders from time to time of Notes that pursuant
to a Company Order are authenticated with terms permitted by the Indenture, as
supplemented by this Fourth Supplemental Indenture, as follows (Capitalized
terms used but not otherwise defined herein shall have the meanings set forth in
the Indenture):

     

    ARTICLE
ONE.

     

    ADDITIONAL
TERMS FOR NOTES

     

    
SECTION
1.1                          EVENTS
OF DEFAULT

     

    Notwithstanding
the grace periods set forth in Sections 8.1(a)(1) and 8.1(a)(2) of the
Indenture, any Notes issued after the date of this Fourth Supplemental Indenture
may, if set forth in a Board Resolution or a Company Order, provide for any
length of grace period, or no grace period, before the failure to make any
payment of principal, interest, premium or other amount shall constitute an
Event of Default.

     

    SECTION
1.2                          PAYMENT
TO NOTEHOLDERS

     

    Notwithstanding
anything in the Indenture to the contrary, any Notes issued after the date of
this Fourth Supplemental Indenture may, if set forth in a Board Resolution or a
Company Order, provide for payment of principal, interest, premium or other
amount to a Noteholder in any manner provided in such Company Order or Board
Resolution.

     

    SECTION
1.3                          AMENDMENT
OF SECTION 8.3 OF THE INDENTURE

     

    With
respect to any Notes issued after the date of this Fourth Supplemental
Indenture, Section 8.3 of the Indenture is amended so as to add a new clause
“Fourth” following clause “Third” and to re-label clause “Fourth” as clause
“Fifth” to read as follows:

     

    Fourth: to the payment
to the persons entitled thereto of all other amounts due and unpaid on and under
the Notes including, but not limited to, all other amounts, costs and expenses
(including reasonable attorneys’ fees and expenses) payable to the Holders
ratably, according to such amounts due, to the persons entitled thereto, without
any discrimination or preference.

     

    Fifth: to the payment
of the remainder, if any, to the Company or its successors or assigns, or to
whomsoever may lawfully be entitled to the same, or as a court of competent
jurisdiction may determine.

     

    SECTION
1.4                          PROCEEDINGS
BY NOTEHOLDERS

     

    Notwithstanding Section 8.4 of the
Indenture, any Notes issued after the date of this Fourth Supplemental Indenture
may, if set forth in a Board Resolution or a Company Order, provide Holders of
such Notes the right to institute suits, actions and/or proceedings against the
Company upon the occurrence and continuance of an Event of Default as

    
      
        
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    provided
in such Company Order or Board Resolution.

     

    SECTION
1.5                          NOTICES

     

    Notwithstanding Section 15.3 of the
Indenture, any Notes issued after the date of this Fourth Supplemental Indenture
may, if set forth in a Board Resolution or a Company Order, provide that notices
required or permitted to be given thereunder be given in the manner provided in
such Company Order or Board Resolution.

     

    ARTICLE
TWO.

     

    MISCELLANEOUS

     

    SECTION
2.1                          EFFECT
ON INDENTURE

     

    As
supplemented by this Fourth Supplement, the Indenture is in all respects
ratified and confirmed, and the Indenture, including the First Supplement, the
Second Supplement, the Third Supplement and this Fourth Supplement, shall be
read as one instrument.  All terms used in this Fourth Supplement
shall have the same meaning as used elsewhere in the Indenture except where the
context clearly indicates otherwise.

     

    SECTION
2.2                          COUNTERPARTS

     

    This
Fourth Supplement may be executed in several counterparts, each of which shall
be considered an original and all collectively as one and the same
instrument.

    
      
        
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    IN
WITNESS WHEREOF, South Jersey Gas Company has caused this Fourth Supplement to
the Indenture to be signed and acknowledged by one of its Vice Presidents and
attested by its Secretary, and The Bank of New York Mellon has caused this
Indenture to be signed by one of its authorized signatories, as of the day and
year first written above.

    

    

    SOUTH
JERSEY GAS COMPANY

    

    

    

    By: /s/ David A.
Kindlick                                                                

    Name:  David
A. Kindlick

    Title:  Senior
Vice President and Chief Financial

                 
Officer

    

    

    ATTEST: /s/ Gina
Merritt-Epps                                                      

    Name:  Gina
Merritt-Epps

    Title:  Secretary

    

    

    THE BANK
OF NEW YORK MELLON

    

    

    

    By: /s/ Scott I.
Klein                                                                           

    Name:
Scott I. Klein

    Title:
Vice President

    

    

    
      
        
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