Best Buy 2003 Annual Report Download - page 114

Participant’s Account Balance shall at all times be a bookkeeping entry only and shall not represent any investment made on his or her
behalf by the Company or the Trust; the Participant shall at all times remain an unsecured creditor of the Company, and where
applicable, the Participant’s Employer.
3.10 FICA and Other Taxes.
(a) Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant,
the Participant’s Employer(s) shall withhold from that portion of the Participant’s Base Annual Salary and Bonus that is not being
deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment taxes on such Annual
Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount in order to comply with this Section 3.10.
(b) Company Matching and Contribution Amounts. When a Participant becomes vested in a portion of his or her Company
Matching Account or Company Contribution Account, the Participant’s Employer(s) shall withhold from the Participant’s Base
Annual Salary and/or Bonus that is not deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and
other employment taxes. If necessary, the Committee may reduce the vested portion of the Participant’s Company Matching Account
in order to comply with this Section 3.10.
3.11 Distributions. The Company, or the trustees of the Trust, shall withhold from any payments made to a Participant under
this Plan all federal, state and local income, employment and other taxes required to be withheld in connection with such payments, in
amounts and in a manner to be determined in the sole discretion of the Company and the trustees of the Trust.
13
ARTICLE 4
In−Service Distribution; Unforeseeable Financial Emergencies
4.1 In−Service Distribution. In connection with each election to defer an Annual Deferral Amount, a Participant may
irrevocably elect to receive a future “In−Service Distribution” from the Plan with respect to all or a portion of such Annual Deferral
Amount. Subject to the Deduction Limitation, the In−Service Distribution shall be a lump sum payment in an amount that is equal to
the portion of the Annual Deferral Amount for which the Participant has elected to receive an In−Service Distribution plus or minus
amounts credited or debited in the manner provided in Section 3.9 above on that amount, determined at the time that the In−Service
Distribution becomes payable (rather than the date of a Termination of Employment). Subject to the Deduction Limitation and the
other terms and conditions of this Plan, each In−Service Distribution elected shall be paid out during a sixty (60) day period
commencing immediately after the last day of any Plan Year designated by the Participant that is at least five Plan Years after the Plan
Year in which the Annual Deferral Amount is actually deferred. By way of example, if a five year In−Service Distribution is elected
for Annual Deferral Amounts that are deferred in the Plan Year commencing January 1, 2001, the five year In−Service Distribution
would become payable during a sixty (60) day period commencing no earlier than January 1, 2007.
4.2 Other Benefits Take Precedence Over In−Service Distribution. Should an event occur that triggers a benefit under
Article 5, 6, 7 or 8, any Annual Deferral Amount, plus amounts credited or debited thereon, that is subject to an In−Service
Distribution election under Section 4.1 shall not be paid in accordance with Section 4.1 but shall be paid in accordance with the other
applicable Article.
4.3 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an
Unforeseeable Financial Emergency, the Participant may petition the Committee to (i) suspend any deferrals required to be made by a
Participant and/or (ii) receive a partial or full payout from the Plan. The payout shall not exceed the lesser of the Participant’s
Account Balance, calculated as if such Participant were receiving a Termination Benefit, or the amount reasonably needed to satisfy
the Unforeseeable Financial Emergency. If, subject to the sole discretion of the Committee, the petition for a suspension and/or
payout is approved, suspension shall take effect upon the date of approval and any payout shall be made within sixty (60) days of the
date of approval. The payment of any amount under this Section 4.3 shall not be subject to the Deduction Limitation.
14
ARTICLE 5
Retirement Benefit
5.1 Retirement Benefit. Subject to the Deduction Limitation, a Participant who Retires shall receive, as a Retirement Benefit,
his or her Account Balance.
5.2 Payment of Retirement Benefit. A Participant, in connection with his or her commencement of participation in the Plan,
shall elect on an Election Form and Plan Agreement to receive the Retirement Benefit in a lump sum or pursuant to a Quarterly
Installment Method of twenty (20), forty (40) or sixty (60) quarters. If the Participant’s Account Balance at the time of Retirement is