Best Buy Approves Continuity Award Agreements

On June 21, 2012, the Compensation and Human Resources Committee of the Board of Directors of Best Buy BBY, approved the entry into special continuity award agreements ("Continuity Award Agreements") for a number of the registrant's officers, including the Chief Financial Officer and three additional "named executive officers," as determined pursuant to Item 402 of Regulation S-K for purposes of the registrant's Proxy Statement filed May 9, 2012. The Committee determined that, given the ongoing search for a permanent Chief Executive Officer, the Continuity Award Agreements were necessary to enable a stable CEO transition and appropriate continuity of leadership. The incentives are in addition to the existing performance-based Long-Term incentive program awards anticipated to be granted in September.