RETIREMENT BENEFITS
Seaboard offers a 2-tier approach for the future security of our employees after retirement.

Tier 1 - Seaboard Corporation Pension Plan

• Fully funded by Seaboard.  No employee contributions required.
• Provides a "floor level" of retirement for all employees
• Automatic eligibility following one year of service (and age 21)
• Fully vested after five years of service with minimum of 1000 hours worked each year (no partial vesting).
• Benefit is integrated with Social Security.

Tier 2 - Seaboard Corporation 401(k) Retirement Savings Plan

• Employees may participate immediately following the start of employment
• Tax-deferred contributions of 2% to 22% of pay allowed
• Company matches dollar-for-dollar on the first 3% of contributions following one year of employment
• Employer contributions vest at 20% per year of service
• Loan provision
• Rollovers accepted

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WELFARE BENEFITS

Life Insurance

• Basic Life Insurance

  Seaboard provides eligible employees with coverage for Basic Life Insurance that equals two times their annual base salary rounded down to the nearest thousand.

• Additional Life Insurance

  Employees may purchase Additional Life coverage in increments of one to five times their annual base salary rounded down to the nearest thousand. Dependent coverage may also be purchased.

• Basic Accidental Death and Dismemberment (AD&D)

  Seaboard provides eligible employees with coverage for AD&D insurance that equals two times their annual base salary rounded down to the nearest thousand.

• Travel Insurance

  Seaboard provides additional travel insurance while traveling on Company business. Employees are covered for an amount of AD&D insurance equal to four times their annual base salary rounded down to the nearest thousand.

Medical and Vision Benefits

• Employees and covered dependents are eligible to participate in a company-wide PPO medical plan, including vision benefits, effective on their date of hire. In addition, some Seaboard locations may offer an HMO medical plan option.
• Seaboard will pay the majority of the cost of providing this benefit.

Dental Benefits

• Employees are covered by Seaboard's dental insurance effective their date of hire. In addition, some Seaboard locations may offer additional dental plan options.
• Cost of the dental insurance plan is paid entirely by Seaboard.

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PAID TIME OFF

• Seaboard offers up to five weeks of paid time off, depending on length of service. Seaboard's Paid Time Off program incorporates vacation time, sick pay, and personal days into an individual paid time off account.

DISABILITY BENEFITS

Seaboard offers a comprehensive disability program to provide our employees with a financial safety net in the event they sustain a non-occupational illness or injury and cannot work.

Disability Pay Continuation

• Should the disability last more than 5-days, the employee will be paid through the salary continuation program.
• The Salary Continuation Program will provide employees with 60 percent of their base salary during the first year of employment and 100 percent thereafter.
• Salary Continuation applies during the 90-day long-term disability waiting period

Long-Term Disability

• Employees are eligible to participate in a Long-Term Disability insurance effective on the first day of the month following their date of hire.
• Benefits are equal to 60 percent of their basic monthly salary commencing on the 91^st day of disability. Benefits will be paid for up to two years if disabled from your occupation and age 65 if permanently and totally disabled from all jobs.

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TAX FAVORED FLEXIBLE SPENDING ACCOUNTS

• Employees may elect to enroll in the Health Care Expense Reimbursement Account and/or Dependent Care Account at the time of employment or at the beginning of every plan year.
• The minimum election in each plan is $250 each year. The maximum election for the Health Care Expense Reimbursement Account is $5,000 and $5,000 for the Dependent Care Account.
• This plan results in a favorable tax treatment for the employee.

HOLIDAYS

• Seaboard offers seven paid holidays per year.

CONTINUING EDUCATION and LEARNING

• Paid registration and attendance at approved seminars.
• The Company's tuition reimbursement program is primarily for undergraduate educational courses, which are job related. In some instances, the Company may approve reimbursement for graduate level courses. Employees become eligible for tuition reimbursement after they have completed one year of service.

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