YUM! Brands, Inc. 2010 Supplemental Long Term Disability Coverage Summary
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Summary
YUM! Brands, Inc. provides long-term disability insurance to all salaried employees, covering up to 35% of salary and target bonus at the company's expense. Employees can choose to purchase additional coverage of 25% or 35%, paying the full cost themselves. Starting in 2010, the maximum annual benefit is capped at $300,000. For those previously eligible for more, a three-year transition allows them to buy extra coverage above the cap, with the company covering the increased cost over 2010 rates. The agreement lists the additional coverage amounts and company payments for certain executives.
EX-10.26 5 ex10-26.htm 2010 YUM! BRANDS SUPPLEMENTAL LONG TERM DISABILITY COVERAGE SUMMARY ex10-26.htm
YUM! Brands, Inc.
2010 Supplemental Long Term Disability Coverage Summary
| ● | The Company provides long term disability coverage to all salaried employees. |
| ● | The Company pays for coverage up to 35% of salary and target bonus. Employees may elect an additional 25% or 35% coverage but are responsible for the entire cost of the additional coverage. |
| ● | Beginning in 2010, the Company limited the maximum annual long term disability to $300,000. |
| ● | For employees who had elected annual benefit coverage in excess of $300,000 or otherwise were entitled to coverage in excess of $300,000, the Company negotiated with another insurance provider a three year transition benefit permitting employees to elect on an individual basis coverage in excess of $300,000 per year. The cost of this coverage will be higher than the cost of prior years’ coverage. |
| ● | The Company has agreed that it will pay each executive’s additional cost over what the executive would have paid for this coverage in 2010 (had it remained in place in 2010). The executive will pay his/her cost had the coverage remained in place. |
| ● | The chart below shows the dollar amount of additional coverage (in excess of $300,000) elected by each officer and the amount paid by the Company for this coverage in 2010. |
| Annual Additional Coverage Amount | Annual Company Payment for Coverage | |
| David Novak | $ 1,884,000 | $69,610 |
| Sam Su | $ 313,287 | $13,460 |
| Graham Allan | $ 313,287 | $11,600 |
| Scott Bergren | $ 120,875 | $8,666 |
| Jonathan Blum | $ 172,500 | $4,288 |
| Emil Brolick | $ 166,200 | $10,884 |
| Anne Byerlein | $ 282,750 | $6,964 |
| Chris Campbell | $ 78,788 | $4,052 |
| Rick Carucci | $ 536,550 | $14,245 |
| Greg Creed | $ 441,000 | $17,612 |
| Roger Eaton | $ 338,250 | $8,550 |
| Ted Knopf | $ 48,685 | $1,528 |
| Micky Pant | $ 52,188 | $2,128 |
