Best Buy 2009 Annual Report Download - page 3

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TABLE OF CONTENTS
GENERAL INFORMATION ...................................................... 5
Background ............................................................. 5
Voting Procedure .......................................................... 5
Proxy Solicitation .......................................................... 7
Additional Information ....................................................... 8
CORPORATE GOVERNANCE AT BEST BUY ........................................... 8
Board Meetings and Attendance ................................................. 8
Committees of the Board ..................................................... 8
Director Nomination Process ................................................... 10
Director Independence ....................................................... 11
Board Composition ........................................................ 12
Executive Sessions of Non-Management, Independent Directors ............................. 12
Communications With the Board ................................................ 12
Director Orientation and Continuing Education ....................................... 13
Director Compensation ...................................................... 13
ITEM OF BUSINESS NO. 1 — ELECTION OF DIRECTORS .................................. 17
General Information ........................................................ 17
Board Structure ........................................................... 17
Voting Information ......................................................... 17
Board Voting Recommendation ................................................. 17
Nominees and Directors ..................................................... 18
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ................... 22
SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE ........................... 25
EXECUTIVE COMPENSATION .................................................... 26
Compensation Discussion and Analysis ............................................ 26
Compensation Philosophy, Objectives and Process .................................... 26
Compensation for Named Executive Officers ....................................... 31
Other Compensation Matters ................................................. 39
Compensation and Human Resources Committee Report on Executive Compensation ................ 42
Compensation Committee Interlocks and Insider Participation ............................... 42
Compensation of Executive Officers .............................................. 43
Summary Compensation Table ................................................ 43
Grants of Plan-Based Awards ................................................. 45
Outstanding Equity Awards at Fiscal Year-End ....................................... 46
Options Exercised and Stock Vested ............................................. 47
Non-Qualified Deferred Compensation ........................................... 48
Potential Payments Upon Termination or Change-in-Control .............................. 49
CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS ............................. 51
AUDIT COMMITTEE REPORT .................................................... 55
Committee Meetings and Recommendation .......................................... 55
Pre-Approval Policy ......................................................... 55
Auditor Independence ....................................................... 56
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