Best Buy 2010 Annual Report Download - page 48

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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 IV,
above, with management. Based on this review and LLC (‘‘Avalon-Timbercrest’’) for a retail store located in a
discussion, the Compensation Committee recommended 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 27, 2010, 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. In fiscal 2010,
COMMITTEE we paid aggregate rents to Avalon-Timbercrest of
approximately $884,000. The Board determined that
Frank D. Trestman, Chairman the lease is in our best interest and has terms that are
Kathy J. Higgins Victor competitive with terms available from unaffiliated third
Ronald James parties.
Hatim A. Tyabji
Compensation Committee Interlocks and
Insider Participation
Frank D. Trestman, Chairman of the Compensation
Committee. The Avalon Group is a real estate
48