Best Buy 2003 Annual Report Download - page 119

Claims Procedures
14.1 Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being
referred to below as a “Claimant”) may deliver to the Committee a written claim for a determination with respect to the amounts
distributable to such Claimant from the Plan. If such a claim relates to the contents of a notice received by the Claimant, the claim
must be made within sixty (60) days after such notice was received
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by the Claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the
claim to arise occurred. The claim must state with particularity the determination desired by the Claimant.
14.2 Notification of Decision. The Committee shall consider a Claimant’s claim within a reasonable time, and shall notify the
Claimant in writing:
(a) that the Claimant’s requested determination has been made, and that the claim has been allowed in full; or
(b) that the Committee has reached a conclusion contrary, in whole or in part, to the Claimant’s requested determination, and
such notice must set forth in a manner calculated to be understood by the Claimant:
(i) the specific reason(s) for the denial of the claim, or any part of it;
(ii) specific reference(s) to pertinent provisions of the Plan upon which such denial was based;
(iii) a description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of
why such material or information is necessary; and
(iv) an explanation of the claim review procedure set forth in Section 14.3 below.
14.3 Review of a Denied Claim. Within sixty (60) days after receiving a notice from the Committee that a claim has been
denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file with the Committee a written
request for a review of the denial of the claim. Thereafter, but not later than thirty (30) days after the review procedure began, the
Claimant (or the Claimant’s duly authorized representative):
(a) may review pertinent documents;
(b) may submit written comments or other documents; and/or
(c) may request a hearing, which the Committee, in its sole discretion, may grant.
14.4 Decision on Review. The Committee shall render its decision on review promptly, and not later than sixty (60) days after
the filing of a written request for review of the denial, unless a hearing is held or other special circumstances require additional time,
in which case the Committee’s decision must be rendered within one hundred twenty (120) days after such date. Such decision must
be written in a manner calculated to be understood by the Claimant, and it must contain:
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(a) specific reasons for the decision;
(b) specific reference(s) to the pertinent Plan provisions upon which the decision was based; and
(c) such other matters as the Committee deems relevant.
14.5 Subsequent Action; Mandatory Arbitration.
(a) Subsequent Action. A Claimant’s compliance with the foregoing provisions of this Article 14 is a mandatory prerequisite
to a Claimant’s right to commence any subsequent action with respect to any claim for benefits under this Plan.
(b) Mandatory Arbitration. Any controversy or claim arising out of or relating to this Plan shall be resolved by arbitration in
accordance with the Commercial Arbitration Rules of the American Arbitration Association. Arbitration shall be by a single arbitrator
experienced in the matters at issue and selected by the parties in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. The arbitration shall be held in such place in Minneapolis, Minnesota, as may be specified by the arbitrator