Termination of Burlington Northern Santa Fe Estate Enhancement Program Resolution
Burlington Northern Santa Fe Corporation's Board of Directors has decided to terminate its Estate Enhancement Program, effective September 1, 2003. However, any Split-Dollar or Collateral-Assignment Agreements made before this termination date will remain in effect and be managed as if the program had not ended. This resolution formalizes the program's termination while protecting existing agreements for participants.
Exhibit 10.12.2
APPROVAL OF ESTATE ENHANCEMENT PROGRAM TERMINATION
WHEREAS, the Board of Directors of Burlington Northern Santa Fe Corporation (the “Company”) adopted the Burlington Northern Santa Fe Estate Enhancement Program (the “Program”) on April 18, 1996;
WHEREAS, pursuant to Section 6.1 of the Program, the Program may be amended or terminated by the Board of Directors of the Company; and
WHEREAS, the Board of Directors of the Company now desires to terminate the Program;
NOW THEREFORE, IT IS RESOLVED, that the Program is hereby terminated, effective as of September 1, 2003, provided, however, that such termination shall not result in the termination of any Split-Dollar Agreement or Collateral-Assignment Agreement which was entered into prior to the date of the termination of the Program, and any such Split-Dollar Agreement or Collateral-Assignment Agreement which was entered into prior to the date of the termination of the Program shall continue to be administered as if the Program had not been terminated.
Burlington Northern Santa Fe Corporation
Board of Directors
September 18, 2003
