Best Buy 2009 Annual Report Download - page 42

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development partnership in which Mr. Trestman and his
Compensation and Human Resources
son-in-law each own one-third interests. Mr. Trestman is
Committee Report on Executive Compensation
the chairman of The Avalon Group, with the other
The Compensation Committee has reviewed and partners responsible for operations. In fiscal 2007, we
discussed the Compensation Discussion and Analysis, entered into a 10-year lease with Avalon-Timbercrest
above, with management. Based on this review and IV, LLC (‘‘Avalon-Timbercrest’’) for a retail store located
discussion, the Compensation Committee recommended in a development in which The Avalon Group has an
to the Board that the Compensation Discussion and interest. Mr. Trestman and his son-in-law each own a
Analysis be included in our Annual Report on 20% interest in the property we lease. Our real estate
Form 10-K for the fiscal year ended February 28, 2009, department has determined that the rental payments
and in this Proxy Statement. under the lease are competitive for the real estate
COMPENSATION AND HUMAN RESOURCES market in the relevant geographic area. The payments
COMMITTEE required for the first five years of the term are $700,200
per year, with an increase in years six through 10 to
Frank D. Trestman, Chairman $745,200 per year. In fiscal 2009, we paid aggregate
Kathy J. Higgins Victor rents to Avalon-Timbercrest of $775,800. The Board
Ronald James determined that the lease is in our best interest and has
Hatim A. Tyabji terms that are competitive with terms available from
unaffiliated third parties.
Compensation Committee Interlocks and
Insider Participation
Frank D. Trestman, Chairman of the Compensation
Committee. The Avalon Group is a real estate
42