Best Buy 2003 Annual Report Download - page 110

1.32 “Plan” shall mean the Company’s Deferred Compensation Plan, which shall be evidenced by this instrument, as it may be
amended from time to time.
1.33 “Plan Year” shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such
calendar year.
1.34 “Pre−Retirement Survivor Benefit” shall mean the benefit set forth in Article 6.
1.35 “Quarterly Installment Method” shall be a quarterly installment payment over the number of quarters selected by the
Participant in accordance with this Plan, calculated as follows: The Account Balance of the Participant shall be calculated as of the
close of business on the last business day of the quarter. The quarterly installment shall be calculated by multiplying this balance by a
fraction, the numerator of which is one, and the denominator of which is the remaining number of quarterly payments due the
Participant. By way of example, if the Participant elects a forty (40) quarter Annual Installment Method, the first payment shall be
one−fortieth (1/40th) of the Account Balance, calculated as described in this definition. The following quarter, the payment shall be
one−thirty−ninth (1/39th) of the Account Balance, calculated as described in this definition. Each quarterly installment shall be paid
on or as soon as practicable after the last business day of the applicable quarter. Unless the Committee determines otherwise,
quarterly installment payments shall be drawn on a pro−rata basis from each of the applicable Measurement Funds used to determine
amounts to be credited or debited to the Participant’s Account Balance pursuant to Section 3.9 below.
1.36 “Retirement”, “Retire(s)” or “Retired” shall mean, with respect to an Employee, severance from employment from all
Employers for any reason other than a leave of absence, death or Disability on or after the attainment of age sixty (60); and shall mean
with respect to a Director who is not an Employee, severance of his or her directorships with all Employers on or after the attainment
of age seventy (70). If a Participant is both an Employee and a Director, Retirement shall not occur until he or she Retires as both an
Employee and a Director, which Retirement shall be deemed to be a Retirement as a Director; provided, however, that such a
Participant may elect, at least five years prior to Retirement and in accordance with the policies and procedures established by the
Committee, to Retire for purposes of this Plan at the time he or she Retires as an Employee, which Retirement shall be deemed to be a
Retirement as an Employee.
1.37 “Retirement Benefit” shall mean the benefit set forth in Article 5.
1.38 “Termination Benefit” shall mean the benefit set forth in Article 7.
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1.39 “Termination of Employment” shall mean the severing of employment with all Employers, or service as a Director of all
Employers, voluntarily or involuntarily, for any reason other than Retirement, Disability, death or an authorized leave of absence. If a
Participant is both an Employee and a Director, a Termination of Employment shall occur only upon the termination of the last
position held; provided, however, that such a Participant may elect, at least five years before cessation of employment with all
Employers and in accordance with the policies and procedures established by the Committee, to be treated for purposes of this Plan as
having experienced a Termination of Employment at the time he or she ceases employment with all Employers as an Employee.
1.40 “Trust” shall mean one or more trusts established pursuant to that certain Master Trust Agreement, dated as of April 1, 1998
between the Company and the trustee named therein, as amended from time to time.
1.41 “Unforeseeable Financial Emergency” shall mean an unanticipated emergency that is caused by an event beyond the control
of the Participant that would result in severe financial hardship to the Participant resulting from (i) a sudden and unexpected illness or
accident of the Participant or a dependent of the Participant, (ii) a loss of the Participant’s property due to casualty, or (iii) such other
extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in
the sole discretion of the Committee.
1.42 “Years of Service” shall mean the total number of years in which a Participant has been employed by one or more
Employers, as defined in Article IV of the 401(k) Plan.
ARTICLE 2
Selection, Enrollment, Eligibility
2.1 Selection by Committee. Participation in the Plan shall be limited to a select group of management and highly
compensated Employees and Directors of the Employers, as determined by the Committee in its sole discretion. From that group, the
Committee shall select, in its sole discretion, Employees and Directors to participate in the Plan.
2.2 Enrollment Requirements. As a condition to participation, each selected Employee or Director shall complete, sign and
return (or complete and submit online, to the extent available) to the Committee an Election Form and Plan Agreement and a
Beneficiary Designation Form, all within thirty (30) days after he or she is selected to participate in the Plan. In addition, the
Committee shall establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary.