[Redacted Address] (March 25th, 2013)
As you know, I am extremely excited to have the opportunity to craft what I believe will be a seminal chapter in Best Buy's history. While I am aware of our challenges, I have great enthusiasm for the Company's prospects going forward. In connection with Renew Blue and our transformation of Best Buy I am eager for you to return to the Company that you created and share your wisdom, insight and passion in support of the Company. With that in mind, it is my pleasure to extend you an offer to continue in your role as Chairman Emeritus, with the lifetime honorary title of "Founder and Chairman Emeritus", on the terms laid out below.
Richard M. Schulze 8500 Normandale Lake Boulevard, Suite 1750 Minneapolis, MN 55437 Dear Mr. Schulze: (December 14th, 2012)
Reference is made to the letter agreement (the "Agreement"), dated August 26, 2012, between Richard M. Schulze ("you") and Best Buy Co., Inc., a Minnesota corporation (the "Company").
Richard M. Schulze 8500 Normandale Lake Boulevard, Suite 1750 Minneapolis, MN 55437 (August 27th, 2012)
Richard M. Schulze ("you") has requested information from Best Buy Co., Inc., a Minnesota corporation (the "Company"), in connection with your consideration of a possible negotiated transaction between the Company and you or one or more of your affiliates (as defined below) (a "Transaction"). In connection with a Transaction, and in consideration of the covenants and agreements contained in this letter agreement (this "Agreement"), the Company and you agree as follows: