SEABOARD CORPORATION

                EXECUTIVE OFFICERS' BONUS POLICY


PURPOSE:   The purpose of this policy is to establish  guidelines
for  the  payment  of incentive compensation to  named  executive
officers of Seaboard Corporation.

AFFECTS:   The  Chief  Executive  Officer  and  the  other  named
executive  officers  of  Seaboard  Corporation,  as  defined   in
Item 402 of Regulation S-K.

POLICY:

1.   Incentive  Compensation Philosophy:  The  Company  maintains
     the philosophy that determination of incentive compensation for
     its executive officers is based upon a recognition that these
     officers are responsible for implementing the Company's long-term
     strategic objectives.  All executive compensation, including the
     incentive  portion, is designed to attract  and  retain  top
     executive employees.

2.   Basis for Determination of Incentive Compensation:

          The Board of Directors shall determine annual bonus amounts
          for the named executive officers, including the Chief Executive
          Officer.  This determination will be based on a subjective review
          of the Company's financial performance, an assessment of each
          officer's individual contribution to that performance and other
          discretionary factors.

          The amount assigned to each officer is discretionary.

3.   Method  and  Timing of Payments:  Payments will be  made  in
     cash after year-end financials are available.  This will normally
     occur about February 1 following the end of the previous fiscal
     year.

EFFECTIVE  DATE:   As  of  the  2005 bonus,  and  supersedes  all
Executive Bonus Policies in effect prior thereto with respect  to
the named executive officers.