Best Buy 2010 Annual Report Download - page 33

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3MAY201023453040 3MAY201023453192
our other executive officers, on average, for fiscal year 2010 is shown below. Actual salary levels, short-term incentive
awards and long-term incentive awards vary based on factors in the Executive Compensation Framework.
CEO
LTIP
55%
Executive STI
30%
Base Salary
15%
Other Executive Officers on Average
LTIP
45%
Executive STI
30%
Base Salary
25%
Each element in the target pay mix is discussed below and shown in the Summary Compensation Table on page 49.
Base Salary. The Compensation Committee generally determines base salary levels for the named executive officers
and other executive officers during the first quarter of each fiscal year, with changes becoming effective during such
quarter. The base salaries for the named executive officers that became effective in the first quarter of fiscal 2010 were
established based on an assessment of each officer under our Executive Compensation Framework. For fiscal 2010,
the base salaries at the end of fiscal 2010 and fiscal 2009, respectively, for the continuing named executive officers
and the key factors considered were as follows:
Fiscal 2010 Fiscal 2009
Ending Ending Percent
Name Base Salary Base Salary Change Key Factors
Mr. Dunn $1,000,000 $900,000 11% Internal Factors:
• Promoted to highest ranking officer in our company in
June 2009
• Highly complex position responsible for balancing short-
and long-term strategic and operational decisions
• Increased accountability for driving company growth in
the connected world
• Strong motivator and leader; established record of
building markets while living and teaching company
values
External Factors:
• New salary and total direct compensation are below
median of Fortune 100 and our peer group
• Initial salary increase is consistent with a Towers Watson
report on pay practices for internal promotion to CEO
versus external CEO hire
33