Best Buy 2010 Annual Report Download - page 61

The annual retainer and the annual committee chair retainer for non-management directors who serve during only a portion of a
fiscal year are prorated. All annual retainers are paid in quarterly installments. For fiscal 2011, the Lead Independent Director
will receive additional cash compensation of $10,000 annually.
(2) These amounts reflect the aggregate grant date fair value, calculated in accordance with Financial Accounting Standards Board
ASC Topic 718, Compensation — Stock Compensation, for stock-based incentive awards granted under our long-term incentive
programs during fiscal 2010. At February 27, 2010, the aggregate number of shares subject to outstanding stock option awards
was: Mr. Anderson — 733,500 shares; Ms. Caputo — 2,500 shares; Ms. Higgins Victor — 41,250 shares; Mr. James —
52,500 shares; Mr. Kaplan — 86,250 shares; Mr. Khosla — 11,250 shares; Mr. Lenzmeier — 682,500 shares; Mr. Mikan —
15,000 shares; Mr. Paull — 52,500 shares; Mr. Rebolledo — 27,500 shares; Mr. Schulze — 1,728,750 shares; Mr. Trestman —
97,500 shares; Mr. Tyabji — 63,750 shares; and Mr. Vittecoq — 11,250 shares.
(3) We do not provide guaranteed, above-market or preferential earnings on compensation deferred under our Deferred
Compensation Plan. The options available for notional investment of deferred compensation are similar to those available under
the Retirement Savings Plan and are described in Non-Qualified Deferred Compensation on page 56.
(4) Mr. Anderson requested that he not be granted a long-term incentive award and that options to purchase the number of shares
he would have received be contributed to a discretionary award pool to be distributed to our employees.
(5) The amount includes: (a) payment of $486,540 in salary for his four months as CEO; (b) payment of $46,154 in salary as a
consultant, as described below in Employment Arrangement for Bradbury H. Anderson; (c) payment of $1,416,806 under the
short-term incentive plan, as described in Short-Term Incentive beginning on page 36; (d) payment of $2,176 in matching
contributions under the Retirement Savings Plan; (e) payment of $7,015 in premiums for life insurance coverage exceeding
$50,000; (f) payment of $540 in premiums for executive long-term disability insurance; (g) $2,000 as reimbursement for tax
planning and preparation expenses; and (h) payment of a $45,628 dividend equivalent.
(6) Ms. Caputo was appointed as a Class 1 director effective December 14, 2009.
(7) Mr. Schulze requested that he not be granted a long-term incentive award and that options to purchase the number of shares he
would have received be contributed to a discretionary award pool to be distributed to our employees.
(8) The amount includes: (a) payment of $150,000 in salary as Chairman of the Board, as described below in Employment
Arrangement for Richard M. Schulze; (b) payment of $5,250 in matching contributions under the Retirement Savings Plan;
(c) payment of $9,143 in premiums for life insurance coverage exceeding $50,000; (d) payment of $270 in premiums for
executive long-term disability insurance; and (e) $52 of imputed income from merchandise received. Not reflected in the amount
are the following benefits Mr. Schulze received from third-parties in connection with his relationship with us: (a) satellite TV
service; and (b) cellular phone equipment and service.
Employment Arrangement for Bradbury H. Anderson including travel, entertainment, room and board; (ii) full
administrative support services at our corporate campus;
In fiscal 2010, after completing his tenure as CEO in and (iii) eligibility to participate in our Retirement
June 2009, Mr. Anderson, Vice Chairman, began Savings Plan and Deferred Compensation Plan.
providing consulting services to us in connection with
our transition to a new CEO. Pursuant to our Employment Arrangement for Richard M. Schulze
employment arrangement with Mr. Anderson, we paid
In April 2007, we entered into an amended employment
him an annual salary of $75,000 to work in a
arrangement with Mr. Schulze, a founder of Best Buy,
consulting capacity. Mr. Anderson is not eligible to
Chairman of the Board and our former CEO.
participate in our equity-based compensation programs
Mr. Schulze is responsible for Board oversight, corporate
for employees, except our ESPP. Mr. Anderson remained
strategic planning and mentoring company officers.
eligible to receive a pro-rated Executive Officer STIP for
Mr. Schulze also periodically represents our company at
the period of time he was CEO during the fiscal year.
public functions and actively engages with our
Mr. Anderson is eligible to receive options to purchase
employees at designated company functions. Pursuant to
the same number of shares granted to
our employment arrangement with Mr. Schulze, he
non-management directors, as described in the Director
receives an annual salary of $150,000 for as long as
Equity Awards, below. In addition, we provided the
he is physically and mentally proficient to act as
following benefits to Mr. Anderson in fiscal 2010:
Chairman, subject to his election as a director by our
(i) reimbursement of all business-related expenses,
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