Pizza Hut 2014 Annual Report Download - page 43

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What is the Company’s policy regarding the approval of audit and non-audit services?
.................................................................................................................................................................................................................................................................................................................................................................................
The Audit Committee has implemented a policy for the succeeding 12 months. Any incremental audit or permitted
pre-approval of all audit and permitted non-audit services, non-audit services which are expected to exceed the
including tax services, proposed to be provided to the relevant budgetary guideline must be pre-approved.
Company by its independent auditors. Under the policy, the The Corporate Controller monitors services provided by the
Audit Committee may approve engagements on a independent auditors and overall compliance with the
case-by-case basis or pre-approve engagements pursuant pre-approval policy. The Corporate Controller reports
to the Audit Committee’s pre-approval policy. The Audit periodically to the Audit Committee about the status of
Committee may delegate pre-approval authority to one of its outstanding engagements, including actual services
independent members, and has currently delegated provided and associated fees, and must promptly report any
pre-approval authority up to certain amounts to its Chair. non-compliance with the pre-approval policy to the Chair of
Pre-approvals for services are granted at the January Audit the Audit Committee.
Committee meeting each year. In considering The complete policy is available on the Company’s
pre-approvals, the Audit Committee reviews a description of website at www.yum.com/investors/governance/media/
the scope of services falling within pre-designated services gov_auditpolicy.pdf.
and imposes specific budgetary guidelines. Pre-approvals
of designated services are generally effective for the
ITEM 3 Advisory Vote on Executive Compensation
(Item 3 on the Proxy Card)
What am I voting on?
.................................................................................................................................................................................................................................................................................................................................................................................
In accordance with SEC rules, we are asking shareholders We urge shareholders to read the Compensation
to approve, on a non-binding basis, the compensation of the Discussion and Analysis beginning at page 28, the
Company’s Named Executive Officers as disclosed in this compensation tables beginning at page 46 and the narrative
proxy statement. discussion following the compensation tables.
Our Performance-Based Executive Compensation Program Attracts and Retains Strong Leaders and Closely Aligns
with Our Shareholders’ Interests
Our performance-based executive compensation program procedures operate and are designed to meet our
is designed to attract, reward and retain the talented leaders compensation goals and how our Management Planning
necessary for our Company to succeed in the highly and Development Committee makes compensation
competitive market for talent, while maximizing shareholder decisions under our programs.
returns. This approach has made our management team a Accordingly, we ask our shareholders to vote in favor of the
key driver in the Company’s strong performance over both following resolution at the Annual Meeting:
the long and short term. We believe that our compensation
program has attracted and retained strong leaders, and is RESOLVED, that the shareholders approve, on an
closely aligned with the interests of our shareholders. advisory basis, the compensation awarded to our
Named Executive Officers, as disclosed pursuant to
In deciding how to vote on this proposal, we urge you to SEC rules, including the Compensation Discussion and
read the Compensation Discussion and Analysis section of Analysis, the compensation tables and related
this proxy statement, beginning on page 28, which materials included in this proxy statement.
discusses in detail how our compensation policies and
2015 Proxy Statement YUM! BRANDS, INC. 21
MATTERS REQUIRING SHAREHOLDER ACTION
Proxy Statement