September 6, 2019
STRICTLY PRIVATE & CONFIDENTIAL
We have received your resignation letter dated Sept 4, 2019. This notification outlines the terms governing your employment termination with Yum China Holdings, Inc. (the Company).
As mutually agreed, your effective termination date is Oct 16, 2019, with last day of service on Oct 15, 2019.
Subject to your signing the Post-Termination Agreement (attached) and acknowledging acceptance of the terms of the letter by Sept 6, 2019 and the Compensation Committees final approval, the Company will provide you:
|(1) || |
Pro-rated 2019 annual cash bonus for Jan 1 to Oct 15, 2019, payable in Feb 2020 after the Team Factor and Individual Factors results are confirmed. Payment is subject to tax withholding.
|(2) || |
A one-time discretionary payment of HK$ 2,613,000 on Oct 31, 2019.
ORSO Provident Fund
The ORSO fund scheme is administered by Mercer Consulting. HR (ext.7811) will provide you the necessary assistance in your application for the transfer / withdrawal of the vested ORSO Plan benefit.
Outstanding Annual Leave
Please seek the approval of your manager in making proper arrangement to clear your outstanding leave, if any. Should you have any outstanding annual leave as of October 15, 2019, you will receive payment in lieu together with your last payment, in compliance with legal requirement.
Repatriation will be administered in accordance with the Companys policies.
Pro-rated 2019 Home Leave Passage Budget
You may utilize the unused home leave budget balance, if any, in accordance with the home leave policy until Oct 15, 2019. Any unused portion of the budget after this date will be forfeited.