Best Buy 2003 Annual Report Download - page 116

(a) Waiver of Deferral. A Participant who is determined by the Committee to be suffering from a Disability shall be excused
from fulfilling that portion of the Annual Deferral Amount commitment that would otherwise have been withheld from a Participant’s
Base Annual Salary, Bonus and/or Directors Fees for the Plan Year during which the Participant first suffers a Disability. During the
period of Disability, the Participant shall not be allowed to make any additional deferral elections, but will continue to be considered a
Participant for all other purposes of this Plan.
(b) Return to Work. If a Participant returns to employment, or service as a Director, with an Employer, after a Disability
ceases, the Participant may elect to defer an Annual Deferral Amount for the Plan Year following his or her return to employment or
service and for every Plan Year thereafter while a Participant in the Plan; provided such deferral elections are otherwise allowed and
an Election Form and Plan Agreement is delivered to and accepted by the Committee for each such election in accordance with
Section 3.3 above.
8.2 Continued Eligibility; Disability Benefit. A Participant suffering a Disability shall, for benefit purposes under this Plan,
continue to be considered to be employed, or in the service of an Employer as a Director, and shall be eligible for the benefits
provided for in Articles 4, 5, 6 or 7 in accordance with the provisions of those Articles. Notwithstanding the above, the Committee
shall have the right to, in its sole and absolute discretion and for purposes of this Plan only, and must in the case of a Participant who
is otherwise eligible to Retire, deem the Participant to have experienced a Termination of Employment, or in the case of a Participant
who is eligible to Retire, to have Retired, at any time (or in the case of a Participant who is eligible to Retire, as soon as practicable)
after such Participant is determined to be suffering a Disability, in which case the Participant shall receive a Disability Benefit equal to
his or her Account Balance at the time of the Committee’s determination; provided, however, that should the Participant otherwise
have been eligible to Retire, he or she shall be paid in accordance with Article 5. The Disability Benefit shall be paid in a lump sum
within sixty (60) days of the Committee’s exercise of such right. Any payment made shall be subject to the Deduction Limitation.
8.3 Short−Term Disability Waiver. If a Participant qualifies for and receives short−term disability benefits under any
short−term disability plan maintained by Participant’s Employer, the Participant shall continue to be considered employed by the
Employer for purposes of this Plan and the Participant shall be excused from making deferrals under the
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Plan until the earlier of the date the short−term disability benefits expire or the Participant returns to a paid employment status. Upon
such expiration or return, deferrals shall resume for the remaining portion of the Plan Year in which the expiration or return occurs,
based on the deferral election, if any, made for that Plan Year. If no election was made for that Plan Year, no deferral shall be
withheld. ARTICLE 9
Beneficiary Designation
9.1 Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary(ies) (both primary as well
as contingent) to receive any benefits payable under the Plan to a beneficiary upon the death of a Participant. The Beneficiary
designated under this Plan may be the same as or different from the Beneficiary designation under any other plan of an Employer in
which the Participant participates.
9.2 Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his or her Beneficiary by completing
and signing the Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the
right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form
and the Committee’s rules and procedures, as in effect from time to time. If the Participant names someone other than his or her
spouse as a Beneficiary of at least fifty percent (50%) of the Participant’s benefits, a spousal consent, in the form designated by the
Committee, must be signed by that Participant’s spouse and returned to the Committee. Upon the acceptance by the Committee of a
new Beneficiary Designation Form, all Beneficiary designations previously filed shall be canceled. The Committee shall be entitled to
rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Committee prior to his or her death.
9.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received and
acknowledged in writing by the Committee or its designated agent.
9.4 No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 9.1, 9.2 and 9.3 above
or, if all designated Beneficiaries predecease the Participant or die prior to complete distribution of the Participant’s benefits, then the
Participant’s designated Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no surviving spouse, the
benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the executor or personal representative of the
Participant’s estate.
9.5 Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this
Plan, the Committee shall have the right, exercisable in its
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