Best Buy 2003 Annual Report Download - page 125

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DEFERRED COMPENSATION PLAN
JANUARY 1, 2003
This First Amendment to the Best Buy Co., Inc. Third Amended and Restated Deferred Compensation Plan (the “Plan”) is adopted by
the Board of Directors of Best Buy Co., Inc. (the “Company”) effective January 1, 2003.
A new Section 4.4 of the Plan is hereby added as follows:
4.4 Withdrawal Election. A Participant (or, after a Participant’s death, his or her Beneficiary) may elect, at any time, to
withdraw all of his or her Account Balance, calculated as if there had occurred a Termination of Employment as of the day of the
election, less a withdrawal penalty equal to ten percent (10%) of such amount (the net amount shall be referred to as the “Withdrawal
Amount”). This election can be made at any time, before or after Retirement, Disability, death or Termination of Employment, and
whether or not the Participant (or Beneficiary) is in the process of being paid pursuant to an installment payment schedule. If made
before Retirement, Disability or death, a Participant’s Withdrawal Amount shall be calculated as if there had occurred a Termination
of Employment as of the day of the election. No partial withdrawals of the Withdrawal Amount shall be allowed. The Participant (or
his or her Beneficiary) shall make this election by giving the Committee advance written notice of the election in a form determined
from time to time by the Committee. The Participant (or his or her Beneficiary) shall be paid the Withdrawal Amount within sixty (60)
days of his or her election. Once the Withdrawal Amount is paid, the Participant’s participation in the Plan shall terminate and the
Participant shall not be eligible to participate in the Plan until the first Plan Year following the one (1) year anniversary of the payment
of the Withdrawal Amount. The payment of any such Withdrawal Amount shall not be subject to the Deduction Limitation.
IN WITNESS WHEREOF, the Company has signed this First Amendment effective as of January 1, 2003.
Best Buy Co., Inc., a Minnesota corporation
By: /s/ John C. Walden
John C. Walden
Exec VP, Human Capital