<SUBMISSION>
<ACCESSION-NUMBER>0001047469-08-004532
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>7
<PERIOD>20080515
<FILING-DATE>20080411
<DATE-OF-FILING-DATE-CHANGE>20080411
<EFFECTIVENESS-DATE>20080411
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>YUM BRANDS INC
<CIK>0001041061
<ASSIGNED-SIC>5812
<IRS-NUMBER>133951308
<STATE-OF-INCORPORATION>NC
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-13163
<FILM-NUMBER>08752041
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1441 GARDINER LANE
<CITY>LOUISVILLE
<STATE>KY
<ZIP>40213
<PHONE>5028748300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1900 COLONEL SANDERS LANE
<CITY>LOUISVILLE
<STATE>KY
<ZIP>40213
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>TRICON GLOBAL RESTAURANTS INC
<DATE-CHANGED>19970627
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GREAT AMERICAN RESTAURANT CO
<DATE-CHANGED>19970618
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>a2184312zdef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#08ZAX17101_1">QuickLinks</A></FONT>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>


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 </FONT> <FONT SIZE=2><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>SCHEDULE 14A  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Proxy Statement Pursuant to Section&nbsp;14(a) of<BR>
the Securities Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) </FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="73%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Filed by the Registrant <FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><BR>
Filed by a Party other than the Registrant <FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><BR>
Check the appropriate box:</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="95%" style="font-family:times;"><FONT SIZE=2>Preliminary Proxy Statement</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="95%" style="font-family:times;"><FONT SIZE=2><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="95%" style="font-family:times;"><FONT SIZE=2>Definitive Proxy Statement</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="95%" style="font-family:times;"><FONT SIZE=2>Definitive Additional Materials</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="95%" style="font-family:times;"><FONT SIZE=2>Soliciting Material Pursuant to &sect;240.14a-12<BR></FONT>
</TD>
</TR>
</TABLE>

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<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=5><B>YUM! BRANDS,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><FONT SIZE=2> (Name of Registrant as Specified In Its Charter)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><FONT SIZE=2> (Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:times;"><FONT SIZE=2>Payment of Filing Fee (Check the appropriate box):</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>No fee required.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Title of each class of securities to which transaction applies: <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Aggregate number of securities to which transaction applies: <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Proposed maximum aggregate value of transaction: <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(5)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Total fee paid: <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Fee paid previously with preliminary materials.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Amount Previously Paid:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Form, Schedule or Registration Statement No.:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Filing Party:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%" style="font-family:times;"><FONT SIZE=2>Date Filed:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=344848,FOLIO='blank',FILE='DISK135:[08ZAX1.08ZAX17101]BA17101A.;9',USER='RFARRIN',CD='31-MAR-2008;21:33' -->
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>


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 </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>
<IMG SRC="g297965.jpg" ALT="GRAPHIC" WIDTH="481" HEIGHT="225">
  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> <A NAME="bc17101_yum__brands,_inc._1441_gardine__yum01875"> </A>
<A NAME="toc_bc17101_1"> </A>
<BR>    </B></FONT><FONT SIZE=3><B>YUM! Brands,&nbsp;Inc.<BR>  <BR>    </B></FONT><FONT SIZE=2><B>1441 Gardiner Lane<BR>  <BR>    Louisville, Kentucky 40213    <BR>    </B></FONT></P>

<P ALIGN="RIGHT" style="font-family:times;">


<FONT SIZE=2>April&nbsp;11, 2008

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>Dear
Fellow Shareholders: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>On
behalf of your Board of Directors, we are pleased to invite you to attend the 2008 Annual Meeting of Shareholders of YUM! Brands,&nbsp;Inc. The meeting will be held Thursday, May&nbsp;15, 2008,
at 9:00&nbsp;a.m., local time, in the YUM! Conference Center at 1900 Colonel Sanders Lane in Louisville, Kentucky. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


The enclosed notice and proxy statement contain details about the business to be conducted at the meeting. You may also read the Company's annual report and this notice and proxy statement on our Web
site at </FONT><FONT SIZE=2><I>www.yum.com/investors/annualreport.asp</I></FONT><FONT SIZE=2> and </FONT><FONT SIZE=2><I>www.yum.com/investors/proxy.asp</I></FONT><FONT SIZE=2>.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>To
assure that your shares are represented at the meeting, we urge you to mark your choices on the enclosed proxy card, sign and date the card and return it promptly in the envelope provided. We also
offer shareholders the opportunity to vote their shares electronically through the internet or by telephone. Please see the proxy statement and the enclosed proxy card for details about electronic
voting options. If you are able to attend the meeting and wish to vote your shares personally, you may do so at any time before the proxy is voted at the meeting. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


An admission ticket is attached to the accompanying proxy card. If you plan to attend the meeting, please bring your admission ticket or proof of your ownership of YUM common stock as of
March&nbsp;17, 2008 as well as a valid picture identification.

 </FONT></P>

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<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Sincerely,</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:times;"><BR><FONT SIZE=2><B>
<IMG SRC="g553842.jpg" ALT="GRAPHIC" WIDTH="202" HEIGHT="67">
 </B></FONT><FONT SIZE=2><BR>
<BR>
David C. Novak<BR></FONT> <FONT SIZE=2><I>Chairman of the Board and Chief Executive Officer</I></FONT></TD>
</TR>
</TABLE>
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<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=2,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=520945,FOLIO='blank',FILE='DISK135:[08ZAX1.08ZAX17101]BC17101A.;26',USER='CHUNT',CD=';8-APR-2008;17:35' -->

<P style="font-family:times;">


<FONT SIZE=2><B>Important Notice Regarding the Availability of Proxy Materials for the Shareholders Meeting to Be Held on May&nbsp;15, 2008&#151;this notice and proxy statement is
available at </B></FONT><FONT SIZE=2><B><I>www.yum.com/investors/proxy.asp</I></B></FONT><FONT SIZE=2><B> and the annual report is available at  </B></FONT><FONT SIZE=2><B><I>www.yum.com/investors/annualreport.asp</I></B></FONT><FONT SIZE=2>.


</FONT>

</P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=3,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=1007714,FOLIO='blank',FILE='DISK135:[08ZAX1.08ZAX17101]BC17101A.;26',USER='CHUNT',CD=';8-APR-2008;17:35' -->
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 </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="be17101_yum__brands,_inc._1441_gardine__yum01875"> </A>
<A NAME="toc_be17101_1"> </A>
<BR></FONT><FONT SIZE=3><B>YUM! Brands,&nbsp;Inc.<BR>  <BR>    </B></FONT><FONT SIZE=2><B>1441 Gardiner Lane<BR>  <BR>    Louisville, Kentucky 40213    <BR>    </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>Notice of Annual Meeting of Shareholders  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">



<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="84%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Time:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>9:00&nbsp;a.m. on Thursday, May&nbsp;15, 2008</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Place:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>YUM! Conference Center<BR>
1900 Colonel Sanders Lane<BR>
Louisville, Kentucky 40213</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Items of Business:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To elect thirteen (13)&nbsp;directors to serve until the 2009 Annual Meeting of Shareholders and until their respective successors are duly elected and qualified.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To ratify the selection of KPMG&nbsp;LLP as our independent auditors for the fiscal year ending December&nbsp;27, 2008.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To approve an Amendment to the Company's Restated Articles of Incorporation to adopt majority voting for the election of directors in uncontested elections.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To approve the 1999 Long Term Incentive Plan as amended through the Third Amendment, including approval of additional shares.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(5)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To consider and vote on four shareholder proposals described in the attached proxy statement, if properly presented at the meeting.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>(6)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:times;"><FONT SIZE=2>To transact such other business as may properly come before the meeting.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Who Can Vote:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>You can vote if you were a shareholder of record as of the close of business on March&nbsp;17, 2008.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Annual Report:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>A copy of our 2007 Annual Report is enclosed.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Website:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>You may also read the Company's annual report and this notice and proxy statement on our website at </FONT><FONT SIZE=2><I>www.yum.com/investors/annualreport.asp</I></FONT><FONT SIZE=2> and </FONT><FONT
SIZE=2><I>www.yum.com/investors/proxy.asp</I></FONT><FONT SIZE=2>.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" style="font-family:times;"><FONT SIZE=2><B>Date of Mailing:</B></FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>This notice, the proxy statement and the form of proxy are first being mailed to shareholders on or about April&nbsp;11, 2008.</FONT></TD>
</TR>
</TABLE>

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<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>By Order of the Board of Directors</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:times;"><BR><FONT SIZE=2><B>
<IMG SRC="g1042492.jpg" ALT="GRAPHIC" WIDTH="322" HEIGHT="49">
 </B></FONT><FONT SIZE=2><BR>
<BR>
Christian L. Campbell<BR></FONT> <FONT SIZE=2><I>Secretary</I></FONT></TD>
</TR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="be17101_your_vote_is_important"> </A>
<A NAME="toc_be17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>YOUR VOTE IS IMPORTANT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>It
is important that your shares are represented and voted at the Annual Meeting. Whether or not you plan to attend the meeting, please provide your proxy by marking, dating and signing the enclosed
proxy card and returning it promptly in the enclosed envelope. Shareholders also have the option of voting electronically through the internet or by telephone. Please read the accompanying proxy
statement and the voting instructions printed on your proxy card for details about electronic voting procedures. If you are able to attend the meeting and wish to vote your shares personally, you may
do so at any time before the proxy is exercised. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


If you hold your common stock in street name and do not provide voting instructions to your broker, your shares will not be voted on any proposal for which your broker does not have discretionary
authority to vote. Brokers do not have discretionary authority to vote on any of the proposals, except the election of directors and the ratification of the selection of KPMG&nbsp;LLP as our
independent auditors for fiscal year 2008.

</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="toc_bg17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>TABLE OF CONTENTS    <BR>    </B></FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="78%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2>GENERAL INFORMATION ABOUT THE MEETING</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
GOVERNANCE OF THE COMPANY</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
6</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
MATTERS REQUIRING SHAREHOLDER ACTION</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
13</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 1: Election of Directors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
13</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 2: Ratification of Independent Auditors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
17</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 3: A Proposal to Approve an Amendment to the Company's Articles of Incorporation Requiring a Majority Vote for Election of Directors in Uncontested Elections</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
19</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 4: A Proposal Relating to the Approval of the Company's Long Term Incentive Plan as amended through the Third Amendment</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
21</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 5: Shareholder Proposal Relating to the MacBride Principles</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
32</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 6: Shareholder Proposal Relating to an Advisory Shareholder Vote to Ratify Executive Compensation</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
35</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 7: Shareholder Proposal Relating to Food Supply Chain Security and Sustainability</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
39</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Item 8: Shareholder Proposal Relating to Animal Welfare</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
42</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
STOCK OWNERSHIP INFORMATION</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
44</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
EXECUTIVE COMPENSATION</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
47</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Compensation Discussion and Analysis</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
47</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Compensation Committee Report</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
64</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Summary Compensation Table</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
65</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> All Other Compensation Table</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
69</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Grants of Plan-Based Awards</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
70</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Outstanding Equity Awards at Fiscal Year-End</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
72</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Option Exercises and Stock Vested</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
74</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><BR><FONT SIZE=2> Pension Benefits</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
74</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
DIRECTOR COMPENSATION</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
83</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
AUDIT COMMITTEE REPORT</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
84</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><BR>
ADDITIONAL INFORMATION</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
86</FONT></TD>
</TR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>YUM! BRANDS,&nbsp;INC.  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>1441 Gardiner Lane  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> Louisville, Kentucky 40213  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>PROXY STATEMENT<BR>  </B></FONT><FONT SIZE=2><B>For Annual Meeting of Shareholders To Be Held On<BR>
May&nbsp;15, 2008  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors (the "Board of Directors" or the "Board") of YUM! Brands,&nbsp;Inc., a North Carolina corporation ("YUM" or the "Company"), solicits the
enclosed proxy for use at the Annual Meeting of Shareholders of the Company to be held at 9:00&nbsp;a.m. (Eastern Daylight Savings Time), on Thursday, May&nbsp;15, 2008, in the YUM! Conference
Center, at 1900 Colonel Sanders Lane, Louisville, Kentucky. This proxy statement contains information about the matters to be voted on at the meeting and the voting process, as well as information
about our directors and most highly paid executive officers. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="de17101_general_information_about_the_meeting"> </A>
<A NAME="toc_de17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>GENERAL INFORMATION ABOUT THE MEETING    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What is the purpose of the annual meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At our annual meeting, shareholders will vote on several important Company matters. In addition, our management will report on the Company's performance over the
last fiscal year and, following the meeting, respond to questions from shareholders. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Why am I receiving these materials?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We sent you this proxy statement and the enclosed proxy card because our Board of Directors is soliciting your proxy to vote your shares at the annual meeting. As
a shareholder, you are invited to attend the meeting and are entitled to vote on the items of business described in this proxy statement. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who may attend the annual meeting?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All shareholders of record as of March&nbsp;17, 2008, or their duly appointed proxies, may attend the meeting. Seating is limited and admission is on a
first-come, first-served basis. Please refer to "How can I attend the meeting?" on page&nbsp;4 for information about what you will need to bring to the meeting.


</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You will be voting on the following eight items of business at the annual meeting:

</FONT></P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
election of thirteen (13)&nbsp;directors to serve until the next Annual Meeting of Shareholders and until their respective successors are duly elected and qualified;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
ratification of the selection of KPMG&nbsp;LLP as our independent auditors for the fiscal year ending December&nbsp;27, 2008;


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>An
amendment to the Company's Restated Articles of Incorporation to adopt majority voting for the election of directors in the case of uncontested elections beginning with
our 2009 annual meeting;


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
approval of the 1999 Long Term Incentive Plan as amended through the Third Amendment, including approval of additional shares;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
consideration of a shareholder proposal relating to the MacBride Principles; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>1</FONT></P>

<HR NOSHADE>
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<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
consideration of a shareholder proposal relating to an Advisory Shareholder Vote to Ratify Executive Compensation;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
consideration of a shareholder proposal relating to Food Supply Chain Security and Sustainability; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
consideration of a shareholder proposal regarding Animal Welfare. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will also consider other business that properly comes before the meeting. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who may vote?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may vote if you owned YUM common stock as of the close of business on the record date, March&nbsp;17, 2008. Each share of YUM common stock is entitled to
one vote. As of March&nbsp;17, 2008, YUM had 472,807,786&nbsp;shares of common stock outstanding.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How does the Board of Directors recommend that I vote?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Board of Directors recommends that you vote your shares "FOR" each of the nominees named in this proxy statement for election to the Board, "FOR" the
ratification of the selection of KPMG&nbsp;LLP as our independent auditors, "FOR" the proposal to amend the Company's Restated Articles of Incorporation to require majority voting for the election
of directors in uncontested elections, "FOR" the proposal relating to the approval of the Company's Long Term Incentive Plan as amended and "AGAINST" the shareholder proposals.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How do I vote before the meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You have three voting options: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Through
the Internet, which we encourage if you have Internet access, at the address shown below;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>By
telephone through the toll-free number shown below; or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>By
mail by completing, signing and returning the enclosed proxy card in the postage-paid envelope provided with this proxy statement. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>If you elect to vote through the Internet or by telephone, please do not mail back your proxy card. Also, if you hold your shares in the name of a bank or broker,
your ability to vote by telephone or the Internet depends on their voting processes. Please follow the directions on your proxy card carefully.  </I></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you choose to vote through the Internet, you will be responsible for any costs associated with electronic access, such as usage charges from internet service
providers and telephone companies. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you are a participant in the Direct Stock Purchase Plan, the administrator of this program, as the shareholder of record, may only vote the shares for which it has received directions
to vote from participants. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you are a participant in the YUM! Brands 401(k) Plan ("401(k) Plan"), the trustee of the 401(k) Plan may only vote the shares for which it has received directions to vote from
participants.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Shares Registered Directly in the Name of the Shareholder.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Shareholders with shares registered directly in their name in
the Company's stock records maintained by our transfer agent, American Stock Transfer and Trust Company, may vote their shares: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>by
submitting their proxy through the internet at the following Web address: </FONT><FONT SIZE=2><I>www.proxyvote.com</I></FONT><FONT SIZE=2>;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>by
making a toll-free telephone call from the U.S. or Canada to 1(800)&nbsp;690-6903 (if you have any questions about how to vote over the phone,
call 1(888)&nbsp;298-6986); or </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>2</FONT></P>

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<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>by
mailing their signed proxy card. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specific
instructions to be followed by registered shareholders are set forth on the enclosed proxy card. Proxies submitted through the Internet or by telephone as described above must
be received by 11:59&nbsp;p.m., Eastern Daylight Savings Time, on May&nbsp;14, 2008. </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Shares Registered in the Name of a Brokerage Firm or Bank.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Shareholders who hold shares in street name may vote by mail
by completing, signing and returning the voting instruction form provided by their brokerage firms, banks or other nominees. In addition to voting by mail, a number of brokerage firms and banks are
participating in a program provided through Broadridge Financial Solutions, Inc. ("Broadridge") that offers telephone and Internet voting options (as well as the option to receive future shareholder
communications including proxy materials through the Internet and not through the





mail). If your shares are held in an account with a brokerage firm or bank participating in the Broadridge program, you may vote those shares telephonically by calling the telephone number shown on
the voting instruction form received from your brokerage firm or bank, or through the Internet at Broadridge's voting Web site (</FONT><FONT SIZE=2><I>www.proxyvote.com</I></FONT><FONT SIZE=2>).
Votes submitted through the Internet or by telephone through the Broadridge program must be received by 11:59&nbsp;p.m., Eastern Daylight Savings Time, on May&nbsp;14, 2008.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Can I vote at the meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares registered directly in your name as the shareholder of record may be voted in person at the annual meeting. Shares held in street name may be voted in
person only if you obtain a legal proxy from the broker or nominee that holds your shares giving you the right to vote the shares. Even if you plan to attend the meeting, we encourage you to vote your
shares by proxy. You may still vote your shares in person at the meeting even if you have previously voted by proxy. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Can I change my mind after I vote?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may change your vote at any time before the polls close at the meeting. You may do this by: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>signing
another proxy card with a later date and returning it to us prior to the meeting;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>voting
again by telephone or through the Internet prior to 11:59&nbsp;p.m., Eastern Daylight Savings Time, on May&nbsp;14, 2008;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>giving
written notice to the Secretary of the Company; or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>voting
again at the meeting. </FONT></DD></DL>
</UL>
<BR>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your
attendance at the meeting will not have the effect of revoking a proxy unless you notify our Corporate Secretary in writing before the polls close that you wish to revoke a previous
proxy. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who will count the votes?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representatives of American Stock Transfer and Trust Company will count the votes and will serve as the independent inspector of election. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What if I return my proxy card but do not provide voting instructions?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you provide specific voting instructions, your shares will be voted as you instruct. If you sign and return a proxy card but do not specify how your shares are
to be voted, the persons named as proxies on the proxy card will vote your shares in accordance with the recommendations of the Board. These recommendations are:


</FONT></P>


<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>FOR</B></FONT><FONT SIZE=2> the election of the thirteen (13) nominees for director named in this proxy statement;

 </FONT></DD></DL>
</UL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>3</FONT></P>

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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>FOR</B></FONT><FONT SIZE=2> the ratification of the selection of KPMG&nbsp;LLP as our independent auditors for the fiscal year 2008;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>FOR</B></FONT><FONT SIZE=2> the proposal to amend the Company's Restated Articles of Incorporation to require majority voting for the election of
directors in uncontested elections;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>FOR</B></FONT><FONT SIZE=2> the approval of the Company's Long Term Incentive Plan as amended through the Third Amendment;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>AGAINST</B></FONT><FONT SIZE=2> the shareholder proposals. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I>What does it mean if I receive more than one proxy card?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It means that you have multiple accounts with brokers and/or our transfer agent. Please vote all of these shares. We recommend that you contact your broker and/or
our transfer agent to consolidate as many accounts as possible under the same name and address. Our transfer agent is American Stock Transfer and Trust Company, which may be reached at 1
(888)&nbsp;439-4986. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Will my shares be voted if I do not provide my proxy?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your shares may be voted if they are held in the name of a brokerage firm, even if you do not provide the brokerage firm with voting instructions. Brokerage firms
have the authority under the New York Stock Exchange rules to vote shares for which their customers do not provide voting instructions on certain "routine" matters. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
election of directors and the proposal to ratify the selection of KPMG&nbsp;LLP as our independent auditors for fiscal year 2008 are considered routine matters for which brokerage
firms may vote unvoted shares. The other proposals to be voted on at our meeting are not considered "routine" under applicable rules. When a proposal is not a routine matter and the brokerage firm has
not received voting instructions from the beneficial owner of the shares with respect to that proposal, the brokerage firm cannot vote the shares on that proposal. This is called a "broker
non-vote." </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How can I attend the meeting?  </I></B></FONT></P>

<P style="font-family:times;">

<FONT SIZE=2>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The annual meeting is open to all holders of YUM common stock as of the close of business on March&nbsp;17, 2008, or their duly appointed proxies. You will need
a valid picture identification and either an admission ticket or proof of ownership of YUM's common stock to enter the meeting. If you are a registered owner, you will find an admission ticket
attached to the proxy card sent to you. If you plan to attend the meeting, please so indicate when you vote and bring the ticket with you to the meeting. If






your shares are held in the name of a bank, broker or other holder of record, your admission ticket is the left side of your voting information form. If you do not bring your admission ticket, you
will need proof of ownership to be admitted to the meeting. A recent brokerage statement or letter from a bank or broker is an example of proof of ownership. If you arrive at the meeting without an
admission ticket, we will admit you only if we are able to verify that you are a YUM shareholder. Your admittance to the annual meeting will depend upon availability of seating. All shareholders will
be required to present valid picture identification prior to admittance. IF YOU DO NOT HAVE VALID PICTURE IDENTIFICATION AND EITHER AN ADMISSION CARD OR PROOF THAT YOU OWN YUM COMMON STOCK, YOU MAY
NOT BE ADMITTED INTO THE MEETING.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>May shareholders ask questions?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes. Representatives of the Company will answer shareholders' questions of general interest following the meeting. In order to give a greater number of
shareholders an opportunity to ask questions, individuals or groups will be allowed to ask only one question and no repetitive or follow-up questions will be permitted. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></P>

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<!-- ZEQ.=4,SEQ=9,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=907197,FOLIO='4',FILE='DISK135:[08ZAX1.08ZAX17101]DE17101A.;18',USER='GKIBBE',CD=';7-APR-2008;16:49' -->
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<P style="font-family:times;"><FONT SIZE=2><B><I>How many votes must be present to hold the meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your shares are counted as present at the meeting if you attend the meeting in person or if you properly return a proxy by Internet, telephone or mail. In order
for us to conduct our meeting, a majority of the outstanding shares of YUM common stock, as of March&nbsp;17, 2008, must be present in person or represented by proxy at the meeting. This is referred
to as a quorum. Abstentions and broker non-votes will be counted for purposes of establishing a quorum at the meeting. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How many votes are needed to elect directors?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominees receiving the highest number of "FOR" votes will be elected as directors. This number is called a plurality. You may vote "FOR" all of the nominees
or you may "WITHHOLD AUTHORITY" to vote for a particular nominee or nominees, or for all nominees. Unless you mark "WITHHOLD AUTHORITY" to vote for a particular nominee or nominees or for all
nominees, your proxy will be voted FOR each of the director nominees named in this proxy statement. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Corporate Governance Principles, which appear at </FONT><FONT SIZE=2><I>www.yum.com/governance/principles.asp</I></FONT><FONT SIZE=2>, set forth our procedures if a nominee is
elected, but receives a majority of "WITHHOLD" votes. In an uncontested election, any nominee for director who receives a greater number of votes withheld from his or her election than votes for such
election is required to tender his or her resignation following certification of the shareholder vote.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Nominating and Governance Committee is required to make recommendations to the Board with respect to any such letter of resignation. The Board will accept the resignation, absent the
Board determining that there is a compelling reason for the director to remain on the Board and public disclosure of that reason. Full details of this Policy are set out in our Corporate Governance
Principles and under "Item&nbsp;1&#151;Election of Directors." </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is recommending an amendment to its Restated Articles of Incorporation to require majority voting in the case of uncontested elections beginning in 2009. See Item&nbsp;3 at
page 19.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How many votes are needed to approve the other proposals?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company's proposals and the shareholder proposals will be considered separately. The ratification of the selection of KPMG&nbsp;LLP as our
independent auditors, the proposal to amend our Restated Articles of Incorporation, the proposal to approve the Long Term Incentive Plan, as amended by the Third Amendment and the shareholder
proposals must receive the "FOR" vote of a majority of the shares, present in person or represented by proxy, and entitled to vote at the meeting. For each of these items, you may vote "FOR",
"AGAINST" OR "ABSTAIN". Abstentions will be counted as shares present and entitled to vote at the meeting. Accordingly, abstentions will have the same effect as a vote "AGAINST" the proposals. Broker
non-votes will not be counted as shares present and entitled to vote with respect to the particular matter on which the broker has not voted. Thus, broker non-votes will not
affect the outcome of any of these proposals.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What if other matters are presented for consideration at the annual meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of this proxy statement, our management knows of no matters that will be presented for consideration at the meeting other than those matters
discussed in this proxy statement. If any other matters properly come before the meeting and call for a vote of shareholders, validly executed proxies in the enclosed form returned to us will be voted
in accordance with the recommendation of the Board of Directors, or, in the absence of such a recommendation, in accordance with the judgment of the proxy holders. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5</FONT></P>

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 </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
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<A NAME="toc_dg17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>GOVERNANCE OF THE COMPANY    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The business and affairs of YUM are managed under the direction of the Board of Directors. The Board believes that good corporate governance is a critical factor
in achieving business success and in fulfilling the Board's responsibilities to shareholders. The Board believes that its practices align management and shareholder interests. Highlights of our
corporate governance practices are described below. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the composition of the Board of Directors and how often are members elected?  </I></B></FONT></P>


<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Board of Directors presently consists of 12 directors whose terms expire at this Annual Meeting. In addition, Robert&nbsp;D. Walter is being nominated for
election to the Board of Directors. Mr.&nbsp;Walter does not currently serve as a director.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As discussed in more detail later in this section, the Board has determined that 9 of our 12 continuing directors are independent under the rules of the New York Stock Exchange ("NYSE").
The Board has not made an independence determination with respect to Mr.&nbsp;Walter but will do so before he is appointed to any committee of the Board.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How often did the Board meet in fiscal 2007?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors met six times during fiscal 2007. Each director attended at least 75% of the meetings of the Board and the committees of which he or she
was a member (held during the period he or she served as a director). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Board's policy regarding director attendance at the Annual Meeting of Shareholders?  </I></B></FONT></P>


<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors' policy is that all directors should attend the Annual Meeting. All directors attended the Company's 2007 Annual Meeting of Shareholders.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the committees of the Board?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has standing Audit, Compensation, Nominating and Governance and Executive/Finance Committees. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Name of Committee<BR>
and Members</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Functions of the Committee</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Meetings<BR>
in Fiscal 2007</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><B>Audit:</B></FONT><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;J. David Grissom, Chair</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Possesses&nbsp;sole&nbsp;authority&nbsp;regarding&nbsp;the&nbsp;selection<BR>
and retention of independent auditors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Robert Holland, Jr.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Kenneth G. Langone</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews and has oversight over the Company's<BR>
internal audit function</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Jonathan S. Linen<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Thomas C. Nelson</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews and approves the cost and scope of<BR>
audit and non-audit services provided by the<BR>
independent auditors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews the independence, qualification and<BR>
performance of the independent auditors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews the adequacy of the Company's<BR>
internal systems of accounting and financial<BR>
control</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews the annual audited financial statements<BR>
and results of the audit with management and<BR>
the independent auditors</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews the Company's accounting and<BR>
financial reporting principles and practices<BR>
including any significant changes</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>6</FONT></P>

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<TH WIDTH="25%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="3%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="42%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
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<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Advises the Board with respect to Company<BR>
policies and procedures regarding compliance<BR>
with applicable laws and regulations and the<BR>
Company's Worldwide Code of Conduct and<BR>
Policy on Conflict of Interest</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=6 style="font-family:times;"><FONT SIZE=2>The Board of Directors has determined that all of the members of the Audit Committee are independent within the meaning of applicable SEC regulations and the listing standards of the NYSE and that Mr.&nbsp;Grissom, the
chair of the Committee, is qualified as an audit committee financial expert within the meaning of SEC regulations. The Board has also determined that Mr.&nbsp;Grissom has accounting and related financial management expertise within the meaning of the
listing standards of the NYSE and that each member is financially literate within the meaning of the NYSE listing standards.</FONT></TD>
</TR>
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<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Name of Committee<BR>
and Members</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Functions of the Committee</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Meetings<BR>
in Fiscal 2007</B></FONT><BR></TH>
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<TR VALIGN="BOTTOM">
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<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><B>Compensation:</B></FONT><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;Thomas M. Ryan, Chair<BR>
&nbsp;&nbsp;&nbsp;&nbsp;David W. Dorman<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Massimo Ferragamo</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Oversees the Company's executive<BR>
compensation plans and programs and reviews<BR>
and recommends changes to these plans and<BR>
programs</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Bonnie Hill</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Monitors the performance of the chief<BR>
executive officer and other senior executives in<BR>
light of corporate goals set by the Committee</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews and approves the compensation of the<BR>
chief executive officer and other senior<BR>
executive officers</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews management succession planning</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=6 style="font-family:times;"><FONT SIZE=2>The Board has determined that all of the members of the Compensation Committee are independent within the meaning of the listing standards of the NYSE and are non-employee directors within the meaning of Section&nbsp;16 of
the Securities Exchange Act of 1934.</FONT></TD>
</TR>
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</TR>
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<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Name of Committee<BR>
and Members</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Functions of the Committee</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Meetings<BR>
in Fiscal 2007</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
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<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><B>Nominating and Governance:</B></FONT><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;Kenneth&nbsp;G.&nbsp;Langone,&nbsp;Chair</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Identifies and proposes to the Board suitable<BR>
candidates for Board membership</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>3</FONT></TD>
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<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Robert Holland, Jr.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Thomas M. Ryan</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Advises the Board on matters of corporate<BR>
governance</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Reviews and reassesses from time to time the<BR>
adequacy of the Company's Corporate<BR>
Governance Guidelines</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Receives comments from all directors and<BR>
reports annually to the Board with assessment<BR>
of the Board's performance</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Prepares and supervises the Board's annual<BR>
review of director independence</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=6 style="font-family:times;"><FONT SIZE=2>The Board has determined that all of the members of the Nominating and Governance Committee are independent within the meaning of the listing standards of the NYSE.</FONT></TD>
</TR>
<TR VALIGN="TOP">
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</TR>
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<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Name of Committee<BR>
and Members</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Functions of the Committee</B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Meetings<BR>
in Fiscal 2007</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE></TH>
</TR>
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<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><B>Executive/Finance:</B></FONT><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;David C. Novak, Chair<BR>
&nbsp;&nbsp;&nbsp;&nbsp;J. David Grissom<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Kenneth G. Langone</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&#149;</FONT></TD>
<TD WIDTH="42%" style="font-family:times;"><FONT SIZE=2>Exercises all of the powers of the Board in the<BR>
management of the business and affairs of the<BR>
Company consistent with applicable law while<BR>
the Board is not in session</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>7</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><B><I>How are directors compensated?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee Directors.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee directors do not receive additional compensation for serving on the Board of Directors. </FONT></P>


<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Employee Directors Annual Compensation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The annual compensation for each director who is not an employee of
YUM is discussed under "Director Compensation" beginning on page&nbsp;83.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How much YUM stock do the directors own?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock ownership information for each director nominee and continuing director is shown in the table on page&nbsp;45.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How does the Board determine which directors are considered independent?  </I></B></FONT></P>


<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's Corporate Governance Principles, adopted by the Board, require that we meet the listing standards adopted in 2003 by the NYSE. The full text of the
Principles can be found on the Company's Web site (</FONT><FONT SIZE=2><I>www.yum.com/governance/principles.asp</I></FONT><FONT SIZE=2>). A copy may also be obtained upon request from the Company's
Corporate Secretary.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Principles, the Board undertook its annual review of director independence in January 2008. During this review, the Board considered transactions and relationships
between each director or any member of his or her immediate family and the Company and its subsidiaries and affiliates. As provided in the Principles, the purpose of this review was to determine
whether any such relationships or transactions were inconsistent with a determination that the director is independent. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of this review, the Board affirmatively determined that all of the directors are independent of the Company and its management under the rules of the NYSE, with the exception
of David Novak, Jing-Shyh S. Su and Jackie Trujillo. Mr.&nbsp;Novak and Mr.&nbsp;Su are not considered independent directors because of their employment by the Company. Mrs.&nbsp;Trujillo is
considered a non-independent outside director because the Board determined that, under the NYSE independence standards, Mrs.&nbsp;Trujillo has a material relationship with YUM by virtue
of her employment during 2004 as Chairman of Harman Management Corporation ("Harman"), one of YUM's largest franchisees, and her continued relationship with Harman as Chairman Emeritus. We provide
additional information regarding royalties and other amounts paid by Harman Management Corporation to YUM on page&nbsp;9.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In determining that the other directors did not have a material relationship with the Company, the Board determined that Messrs.&nbsp;Dorman, Grissom, Holland, Langone, Linen and
Nelson and Ms.&nbsp;Hill had no other relationship with the Company other than their relationship as director. The Board did note as discussed in the next paragraph that CVS Caremark Corporation
("CVS"), which employs



Thomas Ryan, had a business relationship with the Company; however, as noted below, the Board determined that this relationship was not material to the director or CVS Caremark Corporation.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thomas M. Ryan is the Chairman, Chief Executive Officer and President of CVS. In 2007, YUM entered into a transaction with CVS to sublease a long range aircraft through the Fall of 2010.
At that time, YUM has an option to purchase the aircraft from CVS. After reviewing the terms of the transaction, including the lease payments and option purchase price, the Board determined that the
transaction did not create a material relationship between YUM and Mr.&nbsp;Ryan or YUM and CVS as the total payments represent less than <SUP>1</SUP>/<SMALL>10</SMALL> of 1% of CVS's revenues. The Board
determined that this relationship was not material to Mr.&nbsp;Ryan or CVS and concluded that it does not affect the independence of Mr.&nbsp;Ryan. In particular, the Board noted that the overall
purchase price, including consideration of the lease payments, was at market value (as verified by two independent appraisals).

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Board noted that Mr.&nbsp;Ferragamo holds a substantial minority interest in an entity which organized and sold interests in a resort club and related vineyard and
winery in Italy to various purchasers, including Jing-Shyh S. Su, the President of the Company's China Division and Vice Chairman

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>8</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


of the Company's Board. Mr. Su acquired his interests in the club, vineyard and winery for an initial payment and he has an ongoing obligation to pay dues. The Company was not a participant in this
transaction. The Board has considered this transaction and relationship and concluded that it does not affect the independence of Mr.&nbsp;Ferragamo.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert J. Ulrich was a member of our Board of Directors until March&nbsp;15, 2007 when he retired after 10&nbsp;years of Board service. Mr.&nbsp;Ulrich is the Chairman and Chief
Executive Officer of Target Corporation. YUM received, through its Pizza Hut and Taco Bell affiliates, royalty payments from Target Corporation of approximately $8.25&nbsp;million in 2007. In
addition, the Company paid Target approximately $1.5&nbsp;million, representing a rebate for attaining certain volume levels in 2007. The Board determined that these payments did not create a
material relationship between YUM and Mr.&nbsp;Ulrich or YUM and Target as the payments represent less than <SUP>1</SUP>/<SMALL>10</SMALL>th of 1% of Target's revenues. The Board determined that this
relationship was not material to Mr.&nbsp;Ulrich or Target Corporation and concluded it did not affect the independence of Mr.&nbsp;Ulrich.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the Company's policies and procedures with respect to related person transactions?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has adopted policies and procedures for the review of related person transactions. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
these policies and procedures, the Nominating and Governance Committee reviews related person transactions in which we are or will be a participant to determine if they are in the
best interests of our shareholders and the Company. Transactions, arrangements, or relationships or any series of similar transactions, arrangements or relationships in which a related person had or
will have a material interest and that exceed $100,000 are subject to the Committee's review. Any member of the Nominating and Governance Committee who is a related person with respect to a
transaction under review may not participate in the deliberation or vote respecting approval or ratification of the transaction. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related
persons are directors, director nominees, executive officers, holders of 5% or more of our voting stock and their immediate family members. Immediate family members are spouses,
parents, stepparents, children, stepchildren, siblings, daughters-in-law, sons-in-law and any person, other than a tenant or domestic employee, who
resides in the household of a director, director nominee, executive officer or holder of 5% or more of our voting stock. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
its review, the Nominating and Governance Committee may approve or ratify the transaction. The policies and procedures provide that certain transactions are deemed to be
pre-approved even if they will exceed $100,000. These transactions include employment of executive officers, director compensation, and transactions with other companies if the aggregate
amount of the transaction does not exceed the greater of $1&nbsp;million or 2% of that company's total revenues and the related person is not an executive officer of the other company. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During fiscal 2007, affiliates of Harman Management Corporation ("Harman"), as KFC, Taco Bell, Pizza Hut, Long John Silvers and A&amp;W All American Food franchisees, paid royalties of
approximately $16&nbsp;million and contingent store opening fees of approximately $480,000 to subsidiaries of YUM. The store opening fees are held in escrow and may be returned to Harman if the
related new restaurant units are not opened within 18&nbsp;months of payment. Jackie Trujillo, Chairman Emeritus of the Board of Harman, is a director of YUM. Ms.&nbsp;Trujillo retired from Harman
as its Chairman on June&nbsp;30, 2004. Ms.&nbsp;Trujillo has a direct financial interest in Harman but does not control Harman and does not have any management responsibility at Harman. The
Nominating and Governance Committee ratified these transactions with Harman.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How does the Board select nominees for the Board?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Nominating and Governance Committee considers candidates for Board membership suggested by its members and other Board members, as well as management and
shareholders. The Committee's </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>9</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>charter
provides that it may retain a third-party executive search firm to identify candidates from time to time. Currently, the Committee has not retained a search firm. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee's assessment of a proposed candidate will include a review of the person's judgment, experience, independence, understanding of the Company's business or other related
industries and such other factors as the Nominating and Governance Committee determines are relevant in light of the needs of the Board of Directors. The Committee believes that its nominees should
reflect a diversity of experience, gender, race, ethnicity and age. The Committee also considers such other relevant factors as it deems appropriate, including the current composition of the Board,
the balance of management and independent directors, the need for Audit Committee expertise and the evaluations of other prospective nominees, if any. In connection with this evaluation, it is
expected that each committee member will interview the prospective nominee in person or by telephone before the prospective nominee is presented to the full Board for consideration. After completing
this evaluation and interview process, the Committee will make a recommendation to the full Board as to the person(s) who should be nominated by the Board, and the Board determines the nominee(s)
after considering the recommendation and report of the Committee.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a shareholder to submit a candidate for consideration by the Nominating and Governance Committee, a shareholder must notify YUM's Corporate Secretary. To make a director nomination
at the 2009 Annual Meeting, a shareholder must notify YUM's Secretary no later than February&nbsp;14, 2009. Notices should be sent to: Corporate Secretary, YUM! Brands,&nbsp;Inc., 1441 Gardiner
Lane, Louisville, Kentucky 40213. The notice must contain the information described on page&nbsp;88.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How do shareholders communicate with the Board?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders and other parties interested in communicating directly with individual directors, the non-management directors as a group or the entire
Board may do so by writing to the Nominating and Governance Committee, c/o Corporate Secretary, YUM! Brands,&nbsp;Inc., 1441 Gardiner Lane, Louisville, Kentucky 40213. The Nominating and Governance
Committee of the Board has approved a process for handling letters received by the Company and addressed to individual directors, non-management members of the Board or the Board. Under
that process, the Corporate Secretary of the Company reviews all such correspondence and regularly forwards to a designated individual member of the Nominating and Governance Committee copies of all
such correspondence (although we do not forward commercial correspondence and correspondence duplicative in nature; however, we will retain duplicate correspondence and all duplicate correspondence
will be available for directors review upon their request) and a summary of all such correspondence. The designated director of the Nominating and Governance Committee will forward correspondence
directed to individual directors as he or she deems appropriate. Directors may at any time review a log of all correspondence received by the Company that is addressed to members of the Board and
request copies of any such correspondence. Written correspondence from shareholders relating to accounting, internal controls or auditing matters are immediately brought to the attention of the
Company's Audit Committee Chairperson and to the internal audit department and handled in accordance with procedures established by the Audit Committee with respect to such matters (described below).
Correspondence from shareholders relating to Compensation Committee matters are referred to the Chairperson of the Compensation Committee.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the Company's Policies on Reporting of Concerns Regarding Accounting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has established policies on reporting concerns regarding accounting and other matters in addition to our policy on communicating with our
non-management directors. Any person, whether or not an employee, who has a concern about the conduct of the Company or any of our people, with respect to accounting, internal accounting
controls or auditing matters, may, in a confidential or anonymous manner, communicate that concern to our General Counsel, Christian Campbell. If any person believes that he or she should communicate
with our Audit Committee Chair, J. David Grissom, he or she </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>may
do so by writing him at c/o YUM! Brands,&nbsp;Inc., 1441 Gardiner Lane, Louisville, KY 40213. In addition, a person who has such a concern about the conduct of the Company or any of our
employees may discuss that concern on a confidential or anonymous basis by contacting The Network at 1 (800)&nbsp;241-5689. The Network is our designated external contact for these
issues and is authorized to contact the appropriate members of management and/or the Board of Directors with respect to all concerns it receives. The full text of our Policy on Reporting of Concerns
Regarding Accounting and Other Matters is available on our Web site at </FONT><FONT SIZE=2><I>www.yum.com/governance/complaint.asp</I></FONT><FONT SIZE=2>. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What are the Company's Governance Policies and Ethical Guidelines?  </I></B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Board Committee Charters.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;The Audit, Compensation and Nominating and Governance Committees of the YUM Board of
Directors operate pursuant to written charters. These charters were approved by the Board of Directors and reflect certain best practices in corporate governance, as well as comply with the
Sarbanes-Oxley Act of 2002 and the rules issued thereunder, including the requirements of the NYSE. Each charter is available on the Company's Web site at </FONT> <FONT SIZE=2><I>www.yum.com/governance</I></FONT><FONT SIZE=2> and is available in
print to any shareholder who requests it.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Corporate Governance Principles.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;The Board of Directors has documented its corporate governance guidelines in
the YUM! Brands,&nbsp;Inc. Corporate Governance Principles, which were first adopted in November of 2001. These guidelines are available on the Company's Web site at </FONT> <FONT SIZE=2><I>www.yum.com/governance</I></FONT><FONT SIZE=2>.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Code of Ethics.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;YUM's Worldwide Code of Conduct was adopted in 1997 when the Company was formed to emphasize the
Company's commitment to the highest standards of business conduct. The Code of Conduct also sets forth information and procedures for employees to report ethical or accounting concerns, misconduct or
violations of the Code in a confidential manner. The Code of Conduct applies to the Board of Directors and the principal executive officer, the principal financial officer and the principal accounting
officer, as well as all employees of the Company. Our directors and the senior most employees in the Company are required to regularly complete a conflicts of interest questionnaire and certify in
writing that they have read and understand the Code of Conduct. The Code of Conduct is available on the Company's Web site at </FONT><FONT SIZE=2><I>www.yum.com/governance</I></FONT><FONT SIZE=2>.
The Company intends to post amendments to or waivers from its Code (to the extent applicable to the Board of Directors or executive officers) on this Web site. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, YUM has established a Supplier Code of Conduct that requires our U.S. suppliers to abide by all applicable laws, codes and regulations and states YUM's expectation that
suppliers will conform their practices to published standards for their industry. Our Supplier Code of Conduct is described on the Company's Web site at </FONT> <FONT SIZE=2><I>www.yum.com/responsibility/suppliercode.asp</I></FONT><FONT SIZE=2>.
</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What other Significant Board Practices does the Company have?  </I></B></FONT></P>


<P style="font-family:times;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Private Executive Sessions.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Our non-management directors meet at regularly scheduled executive
sessions on a bi-monthly basis. These executive sessions are attended only by the non-management directors and in 2007 were presided over by David Grissom. The presiding
director for these meetings is the Chairperson of each of the Audit, Compensation and Nominating and Governance Committees, who rotate as presiding director at each executive session on a calendar
year basis.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Advance Materials.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Information and data important to the directors' understanding of the business or matters to
be considered at a Board or Board Committee meeting are, to the extent practical, distributed to the directors sufficiently in advance of the meeting to allow careful review prior to the meeting.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Board and Committees' Evaluations.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;The Board has an annual self-evaluation process that is led by
the Nominating and Governance Committee. This assessment focuses on the Board's contribution to the Company and emphasizes those areas in which the Board believes a better contribution could </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>11</FONT></P>

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<UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>be
made. In addition, the Audit, Compensation and Nominating and Governance Committees also each conduct similar annual self-evaluations.

 </FONT></P>

</UL>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Director Resignation Policy.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;In January 2007, the Board of Directors amended the Company's Corporate Governance
Principles to include a director resignation policy to be followed by the Board in the event that any director nominee in an uncontested election receives a greater number of votes "withheld" from his
or her election than votes "for" such election. In any such case, the policy provides that the director will promptly tender to the Board his or her resignation from the Board. The resignation will
specify that it is effective upon the Board's acceptance of the resignation. The Board will, through a process managed by the Nominating and Governance Committee and excluding the nominee in question,
accept or reject the resignation within 90&nbsp;days after the Board receives the resignation. Absent the Board determining that there is a compelling reason for the director to remain on the Board
and public disclosure of that reason, the Board will accept the resignation. As described at Item&nbsp;3 on page&nbsp;19, the Board, in this Proxy Statement, is now asking shareholders to approve
an amendment to the Company's Restated Articles of Incorporation requiring that director nominees in an uncontested election must receive a majority of the votes cast in order to be elected. This
amendment will enhance the principle of majority voting that underlies the current director resignation policy.

</FONT></DD></DL>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I>What access do the Board and Board committees have to Management and to Outside Advisors?  </I></B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Access to Management and Employees.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Directors have full and unrestricted access to the management and employees
of the Company. Additionally, key members of management attend Board meetings to present information about the results, plans and operations of the business within their areas of responsibility.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Access to Outside Advisors.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;The Board and its committees may retain counsel or consultants without obtaining the
approval of any officer of the Company in advance or otherwise. The Audit Committee has the sole authority to retain and terminate the independent auditor. The Nominating and Governance Committee has
the sole authority to retain search firms to be used to
identify director candidates. The Compensation Committee has the sole authority to retain compensation consultants for advice on executive compensation matters. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I>Does the Company require stock ownership by directors?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes, the Company requires stock ownership by directors. The Board of Directors expects non-management directors to hold a meaningful number of shares
of Company common stock and expects non-management directors to retain shares acquired as compensation as a director until at least 12&nbsp;months following their departure from the
Board. YUM directors receive a significant portion of their annual compensation in stock. The Company believes that the increased emphasis on the equity component of director compensation serves to
further align the directors with the interests of our shareholders. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Does the Company have stock ownership guidelines for Executives and Senior Management?  </I></B></FONT></P>


<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee has adopted formal stock ownership guidelines that set minimum expectations for executive and senior management ownership. These
guidelines are discussed on page&nbsp;62. The Company has maintained an ownership culture among its executive and senior managers since its formation. All executive officers, and substantially all
members of senior management, hold stock well in excess of the guidelines.

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>12</FONT></P>

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<A NAME="toc_di17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>MATTERS REQUIRING SHAREHOLDER ACTION    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="di17101_item_1__election_of_di__di102045"> </A>
<A NAME="toc_di17101_2"> </A></FONT> <FONT SIZE=2><B>ITEM&nbsp;1: ELECTION OF DIRECTORS<BR>  (Item&nbsp;1 on the Proxy Card)    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>Who are this year's nominees?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The thirteen (13)&nbsp;nominees recommended by the Nominating and Governance Committee of the Board of Directors for election this year to hold office until the
2009 annual meeting and until their respective successors are elected and qualified are:

 </FONT>

</P>




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<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><FONT SIZE=2><B>David&nbsp;W. Dorman</B></FONT><FONT SIZE=2><BR>
Age&nbsp;54<BR>
Director since 2005<BR>
Senior Advisor and Managing Director to Warburg Pincus&nbsp;LLC</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I>David&nbsp;W. Dorman</I></FONT><FONT SIZE=2> has been a Senior Advisor and Managing Director to Warburg Pincus&nbsp;LLC, a global private equity firm since October&nbsp;2006. He has also been a consultant to AT&amp;T,
&nbsp;Inc. ("New AT&amp;T"), a company that provides internet and transaction-based voice and data services, since February&nbsp;2006. He was President of New AT&amp;T from November&nbsp;2005 until January&nbsp;2006. He was Chairman of the Board and
Chief Executive Officer of AT&amp;T Corp. ("Old AT&amp;T") from November&nbsp;2002 until November&nbsp;2005. Prior to this, he was President of Old AT&amp;T from 2000 to 2002 and the Chief Executive Officer of Concert, a former global venture created
by Old AT&amp;T and British Telecommunications&nbsp;plc, from 1999 to 2000. Mr.&nbsp;Dorman was Chairman, President and Chief Executive Officer of PointCast Incorporated from 1997 to 1999. Mr.&nbsp;Dorman serves on the boards of CVS Corporation,
Motorola,&nbsp;Inc., Phorm,&nbsp;Inc., and Georgia Tech Foundation.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B> Massimo Ferragamo</B></FONT><FONT SIZE=2><BR>
Age&nbsp;50<BR>
Director since 1997<BR>
Chairman, Ferragamo USA,&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Massimo Ferragamo</I></FONT><FONT SIZE=2> is Chairman of Ferragamo USA,&nbsp;Inc., a subsidiary of Salvatore Ferragamo Italia, which controls sales and distribution of Ferragamo products in North America. Mr.&nbsp;Ferragamo has held this position
since 1985.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>J. David Grissom</B></FONT><FONT SIZE=2><BR>
Age&nbsp;69<BR>
Director since January&nbsp;2003<BR>
Chairman, Mayfair Capital<BR>
Chairman, The Glenview Trust Company</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
J. David Grissom</I></FONT><FONT SIZE=2> is Chairman of Mayfair Capital,&nbsp;Inc., a private investment firm formed by Mr.&nbsp;Grissom in 1989. In addition, Mr.&nbsp;Grissom has been Chairman of The Glenview Trust Company, a private trust and
investment management company, since 2001. He is also a director of Churchill Downs Incorporated.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Bonnie G. Hill</B></FONT><FONT SIZE=2><BR>
Age&nbsp;66<BR>
Director since March&nbsp;2003<BR>
President, B. Hill Enterprises&nbsp;LLC</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Bonnie G. Hill</I></FONT><FONT SIZE=2> is President of B. Hill Enterprises&nbsp;LLC, a consulting company. She has held this position since July&nbsp;2001. She is also co-founder of Icon Blue,&nbsp;Inc., a brand marketing company. She served as
President and Chief Executive Officer of Times Mirror Foundation, a charitable foundation affiliated with the Tribune Company from 1997 to 2001 and Senior Vice President, Communications and Public Affairs, of the Los Angeles Times from 1998 to 2001.
From 1992 to 1996, she served as Dean of the McIntire School of Commerce at the University of Virginia. Ms.&nbsp;Hill currently serves as a director of AK Steel Holding Corporation, The Home Depot,&nbsp;Inc., and California Water Service Group. She
also serves on the boards of many other organizations, including the Financial Industry Regulatory Authority and the Center for International Private Enterprise.</FONT></TD>
</TR>
</TABLE>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>13</FONT></P>

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<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Robert Holland,&nbsp;Jr</B></FONT><FONT SIZE=2>.<BR>
Age&nbsp;67<BR>
Director since 1997<BR>
Consultant</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Robert Holland,&nbsp;Jr.</I></FONT><FONT SIZE=2> has maintained a consulting practice for strategic development assistance to senior management of Fortune&nbsp;500 companies since 2001. From 2005 to 2007, he was a member of Cordova, Smart and
Williams,&nbsp;LLC an investment fund manager, and a limited partner of Williams Capital Partners Advisors,&nbsp;LP, a private equity investment firm. He was Chief Executive Officer of WorkPlace Integrators, Michigan's largest Steelcase office
furniture dealer, from 1997 until 2001. From 1995 to 1996, he was President and Chief Executive Officer of Ben&nbsp;&amp; Jerry's Homemade,&nbsp;Inc. Mr.&nbsp;Holland is also a director of Carver Federal Bank, Lexmark International,&nbsp;Inc. and
Neptune Orient Lines Limited.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Kenneth&nbsp;G. Langone</B></FONT><FONT SIZE=2><BR>
Age&nbsp;72<BR>
Director since 1997<BR>
Founder, Chairman, Chief Executive Officer and President, Invemed Associates,&nbsp;LLC</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Kenneth&nbsp;G. Langone</I></FONT><FONT SIZE=2> is the founder, and since 1974, has been Chairman of the Board, Chief Executive Officer and President, of Invemed Associates,&nbsp;LLC, a New York Stock Exchange firm engaged in investment banking and
brokerage. He is a founder of The Home Depot,&nbsp;Inc. and has been a director since 1978. He is also a director of ChoicePoint,&nbsp;Inc., and Unifi,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Jonathan&nbsp;S. Linen</B></FONT><FONT SIZE=2><BR>
Age&nbsp;64<BR>
Director since 2005<BR>
Advisor to the Chairman of American Express Company</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Jonathan&nbsp;S. Linen</I></FONT><FONT SIZE=2> has been an advisor to the Chairman of American Express Company, a diversified worldwide travel and financial services company, since January&nbsp;2006. From August&nbsp;1993 until December&nbsp;2005, he
served as Vice Chairman of American Express Company. From 1992 to 1993, Mr.&nbsp;Linen served as President and Chief Operating Officer of American Express Travel Related Services Company,&nbsp;Inc. From 1989 to 1992, Mr.&nbsp;Linen served as
President and Chief Executive Officer of Shearson Lehman Brothers. Mr.&nbsp;Linen is also a director of The Intercontinental Hotels Group.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Thomas&nbsp;C. Nelson</B></FONT><FONT SIZE=2><BR>
Age&nbsp;45<BR>
Director since 2006<BR>
Chairman, Chief Executive Officer and President, National Gypsum Company</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Thomas&nbsp;C. Nelson</I></FONT><FONT SIZE=2> has served as the President and Chief Executive Officer of National Gypsum Company, a building products manufacturer, since 1999 and was elected Chairman of the Board in January&nbsp;2005. From 1995 to
1999, Mr.&nbsp;Nelson served as the Vice Chairman and Chief Financial Officer of National Gypsum Company. He is also a General Partner of Wakefield Group, a North Carolina based venture capital firm. Mr.&nbsp;Nelson previously worked for Morgan
Stanley&nbsp;&amp;&nbsp;Co. and in the United States Defense Department as Assistant to the Secretary and was a White House Fellow. He also serves as a director of Belk,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>David&nbsp;C. Novak</B></FONT><FONT SIZE=2><BR>
Age&nbsp;55<BR>
Director since 1997<BR>
Chairman, Chief Executive Officer and President, YUM</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
David&nbsp;C. Novak</I></FONT><FONT SIZE=2> became Chairman of the Board on January&nbsp;1, 2001, and Chief Executive Officer of YUM on January&nbsp;1, 2000. He also serves as President of YUM, a position he has held since October&nbsp;21, 1997.
Mr.&nbsp;Novak previously served as Group President and Chief Executive Officer, KFC and Pizza Hut from August&nbsp;1996 to July&nbsp;1997, at which time he became acting Vice Chairman of YUM. He is also a director of JPMorgan Chase&nbsp;&amp;
Co.</FONT></TD>
</TR>
</TABLE>


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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>14</FONT></P>

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<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Thomas&nbsp;M. Ryan</B></FONT><FONT SIZE=2><BR>
Age&nbsp;55<BR>
Director since 2002<BR>
Chairman, Chief Executive Officer and President, CVS Caremark Corporation and CVS Pharmacy,&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Thomas&nbsp;M. Ryan</I></FONT><FONT SIZE=2> is Chairman, Chief Executive Officer and President of CVS Caremark Corporation, an operator of retail pharmacies. He became Chairman of CVS in April&nbsp;1999 and Chief Executive Officer and President in
May&nbsp;1998. From 1994 to present, Mr.&nbsp;Ryan also served as Chief Executive Officer and President of CVS Pharmacy,&nbsp;Inc. Mr.&nbsp;Ryan is also a director of Bank of America Corporation.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Jing-Shyh S. Su</B></FONT><FONT SIZE=2><BR>
Age 55<BR>
Appointed Vice Chairman effective March&nbsp;14, 2008<BR>
President of YUM's China Division</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Jing-Shyh S. Su </I></FONT><FONT SIZE=2>became Vice Chairman of the Board on March&nbsp;14, 2008. He is also President of YUM's China Division, a position he has held since 1997. Prior to this position he was the Vice President of North Asia for both
KFC and Pizza Hut.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Jackie Trujillo</B></FONT><FONT SIZE=2><BR>
Age&nbsp;72<BR>
Director since 1997<BR>
Chairman Emeritus, Harman Management Corporation</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Jackie Trujillo</I></FONT><FONT SIZE=2> has been Chairman Emeritus of the Board of Harman Management Corporation ("Harman"), one of KFC's largest franchisees, since July&nbsp;2004. From 1995 to 2004, she was Chairman of the Board of
Harman.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:times;"><BR><FONT SIZE=2><B>Robert&nbsp;D. Walter</B></FONT><FONT SIZE=2><BR>
Age&nbsp;62<BR>
Director Nominee<BR>
Founder and Executive Director, Cardinal Health, Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="60%" style="font-family:times;"><FONT SIZE=2><I><BR>
Robert&nbsp;D. Walter</I></FONT><FONT SIZE=2> is the founder of Cardinal Health, Inc., a company that provides products and services supporting the health care industry. He has been the Executive Director of Cardinal Health since November 2007. From
April 2006 to November 2007, he served as Executive Chairman of the Board of Cardinal Health. From 1979 to April 2006, he served as Chairman and Chief Executive Officer of Cardinal Health. Mr.&nbsp;Walter also serves as a director of American Express
Company and Battelle Memorial Institute and is a member of The Business Council.</FONT></TD>
</TR>
</TABLE>


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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If elected, we expect that all of the aforementioned nominees will serve as directors and hold office until the 2009 annual meeting of shareholders and until their
respective successors have been elected and qualified. Based on the recommendation of the Nominating and Governance Committee, all of the aforementioned nominees are standing for reelection with the
exception of Mr.&nbsp;Su and Mr.&nbsp;Walter who are standing for election by shareholders for the first time. The nomination of Mr. Walter was recommended to the Nominating and Governance
Committee of the Board by Mr.&nbsp;Novak, our Chief Executive Officer.

</FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?

 </I></B></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT<BR>
YOU VOTE <U>FOR</U> THE ELECTION OF THESE NOMINEES.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What if a nominee is unwilling or unable to serve?  </I></B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That is not expected to occur. If it does, proxies will be voted for a substitute nominated by the Board of Directors. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to elect directors?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A plurality of the votes cast at the annual meeting is required for the election of directors. This means that the 13 nominees receiving the highest number of
votes cast at the meeting will be elected.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However,
under our Corporate Governance Principles, in an uncontested election, any nominee for Director who receives a greater number of votes withheld from his or her election than
votes for such </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>15</FONT></P>

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<BR>

<P style="font-family:times;"><FONT SIZE=2>election
(a "Majority Withheld Vote") is required to tender his or her resignation following certification of the shareholder vote. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Nominating and Governance Committee will promptly consider the resignation offer and possible responses based on the circumstances that led to the Majority Withheld Vote, if known,
and make a recommendation to the Board. The Board will act on the Nominating and Governance Committee's recommendation within 90&nbsp;days following certification of the shareholder vote. Any
director who tenders his or her resignation pursuant to this provision will not participate in the Nominating and Governance Committee recommendation or Board action regarding whether to accept the
resignation offer.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board will accept the resignation, absent the Board determining that there is a compelling reason for the director to remain on the Board and public disclosure of that reason. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>16</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dk17101_item_2__ratification_of_indepe__ite02629"> </A>
<A NAME="toc_dk17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM&nbsp;2: RATIFICATION OF INDEPENDENT AUDITORS<BR>  (Item&nbsp;2 on the Proxy Card)    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A proposal to ratify the selection of KPMG&nbsp;LLP ("KPMG") as our independent auditors for fiscal year 2008. The Audit Committee of the Board of Directors has
selected KPMG to audit our consolidated financial statements. During fiscal 2007, KPMG served as our independent auditors and also provided other audit-related and non-audit services. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Will a representative of KPMG be present at the meeting?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representatives of KPMG will be present at the annual meeting and will have the opportunity to make a statement if they desire and will be available to respond to
appropriate questions from shareholders. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the annual
meeting. If the selection of KPMG is not ratified, the Audit Committee will reconsider the selection of independent auditors. </FONT></P>


<P style="font-family:times;">


<FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?

 </I></B></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU<BR>
VOTE <U>FOR</U> APPROVAL OF THIS PROPOSAL.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What fees did we pay to KPMG for audit and other services for fiscal years 2007 and 2006?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table presents fees for professional services rendered by KPMG for the audit of the Company's annual financial statements for 2007 and 2006, and
fees billed for audit-related services, tax services and all other services rendered by KPMG for 2007 and 2006. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="72%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="61%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>Audit fees(1)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,700,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,500,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>Audit-related fees(2)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>300,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>300,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>Audit and audit-related fees</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,000,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,800,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>Tax fees(3)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>600,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,100,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>All other fees</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>Total fees</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,600,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,900,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Audit
fees for 2007 and 2006 include fees for the audit of the annual consolidated financial statements, reviews of the condensed consolidated financial statements included in the
Company's quarterly reports, audits of the effectiveness of the Company's internal controls over financial reporting, statutory audits and services rendered in connection with the Company's securities
offerings.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Audit-related
fees for 2007 and 2006 consisted principally of fees for audits of financial statements of certain employee benefit plans, agreed upon procedures related to certain
state tax credits and other attestations.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Tax
fees for 2007 and 2006 consisted principally of fees for international tax compliance, tax audit assistance, and, in 2006, expatriate tax services.

 </FONT></DD>

</DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>17</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Company's policy regarding the approval of audit and non-audit services?  </I></B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has implemented a policy for the pre-approval of all audit and permitted non-audit services, including tax services,
proposed to be provided to the Company by its independent auditors. Under the policy, the Audit Committee may approve engagements on a case-by-case basis or
pre-approve engagements pursuant to the Audit Committee's pre-approval policy. The Audit Committee may delegate pre-approval authority to one of its independent
members, and has currently delegated pre-approval authority up to certain amounts to its Chairperson. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-approvals
for services are generally granted at the March Audit Committee meeting each year. In considering pre-approvals, the Audit Committee reviews a
description of the scope of services falling within pre-designated services and imposes specific budgetary guidelines. Pre-approvals of designated services are generally
effective for the succeeding 12&nbsp;months. Any incremental audit or permitted non-audit services which are expected to exceed the relevant budgetary guideline must be
pre-approved. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporate Controller monitors services provided by the independent auditors and overall compliance with the pre-approval policy. The Corporate Controller reports
periodically to the Audit Committee about the status of outstanding engagements, including actual services provided and associated fees, and must promptly report any non-compliance with
the pre-approval policy to the Chairperson of the Audit Committee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The complete policy is available on the Company's Web site at </FONT><FONT SIZE=2><I>www.yum.com/governance/media/gov_auditpolicy.pdf</I></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>18</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dm17101_item_3__a_proposal_to_approve___ite07511"> </A>
<A NAME="toc_dm17101_1"> </A>
<BR>

</FONT>

<FONT SIZE=2><B>ITEM 3: A PROPOSAL TO APPROVE AN AMENDMENT TO THE COMPANY'S ARTICLES OF INCORPORATION REQUIRING A MAJORITY VOTE FOR ELECTION OF DIRECTORS IN UNCONTESTED ELECTIONS<BR>  (Item&nbsp;3 on the Proxy Card)

    <BR>    </B></FONT>

</P>

<P style="font-family:times;">


<FONT SIZE=2><B>Current Standard for Election of Directors

  </B></FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Carolina law provides that, unless otherwise specified in the Articles of Incorporation, directors are elected by a plurality of the votes cast. The
Company's Restated Articles of Incorporation (the "Articles of Incorporation") are silent on this issue, so the plurality standard governs elections of Company directors; that is, director nominees
with the most votes cast in their favor are elected, notwithstanding any withheld votes. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has adopted, and now recommends shareholder approval of, an amendment to the Company's Articles of Incorporation to require that a nominee
in an uncontested election for director receive a majority of the votes cast in order to be elected as a director. In contested elections, where the number of nominees as of the record date for the
meeting exceeds the number of directors to be elected, the vote standard would continue to be a plurality of votes cast. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Background  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders of many public companies have recently urged that director nominees be required to receive a majority of the votes cast in favor of their election,
rather than the generally applicable
plurality standard. In response, a number of public companies have recently adopted charter or bylaw provisions requiring a majority vote standard and/or bylaws or corporate governance principles
requiring that a director not receiving such a majority submit his or her resignation to the board or one of its committees. The resignation policy or bylaw is designed to address the typical state
law provision that provides that an incumbent director remains in office until his or her successor is elected, even if the director has not received a vote sufficient for re-election. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
January 2007, our Corporate Governance Principles were amended and restated to include a director resignation policy that incorporates a form of majority voting. The principles
provide that, in an uncontested election (i.e.,&nbsp;an election where the only nominees are those recommended by the Board), a nominee for director who receives a greater number of votes "withheld"
from his or her election than votes "for" his or her election must promptly tender his or her resignation to the Board. The Board, through a process managed by the Nominating and Governance Committee
and excluding the nominee in question, will then accept or reject the resignation within 90&nbsp;days after receipt of the resignation. Unless the Board determines there is a compelling reason for
the director to remain on the Board and that reason is publicly disclosed, the Board will accept the resignation. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the time of adopting this governance principle, the Nominating and Governance Committee and the Board recognized that the majority vote standard was an evolving concept. The
Nominating and Governance Committee and the Board have continued to monitor best practices in this area and have noted that an increasing number of public companies, including those with a director
resignation policy similar to that of the Company, have amended their charter or bylaws to provide for majority voting in uncontested director elections. The Board, with the assistance of the
Nominating and Governance Committee, has engaged in a further evaluation of the majority vote standard and, after careful consideration, believes it is in the best interests of the Company and its
shareholders to enhance the majority voting approach currently embodied in the Company's Corporate Governance Principles by amending the Company's Articles of Incorporation to provide for majority
voting in uncontested director elections.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>19</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Nominating and Governance Committee and the full Board of Directors have carefully considered the arguments for and against the inclusion of a majority vote standard in the Company's
organizational documents. The difference in standards would not have had any impact on the Company in the recent past, because its director nominees have received vote totals exceeding a majority of
the shares outstanding. In addition, the plurality standard provides greater certainty that the annual election will result in a full and duly elected Board of Directors. However, the Board also
recognizes that requiring a majority of the votes cast increases the likelihood that only directors with broad acceptability among the voting shareholders will be seated on the Board and enhances the
accountability of each Board member to the shareholders, and has concluded that, on balance, the majority vote standard would be in the best interest of the Company and its shareholders.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Amendment of Restated Articles of Incorporation  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under North Carolina law, a standard other than a plurality may only apply to director elections if it is specified in the Articles of Incorporation. If the
amendment is approved, a new Section&nbsp;(i) of Article Fifth of the Company's Articles of Incorporation will be added to read as follows:

 </FONT>

</P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>"(i)&nbsp;&nbsp;&nbsp;&nbsp;Except
as provided in Section&nbsp;(c) of this Article Fifth, a nominee for Director shall be elected to the Board of Directors if the number of shares voted "for" the nominee's
election exceeds the number of shares voted "against" the nominee's election at a meeting of the Shareholders of the Corporation for the election of Directors at which a quorum is present, provided
that if the number of nominees as of the record date for the meeting exceeds the number of Directors to be elected at the meeting (a "Contested Election"), the Directors shall be elected by a
plurality of the votes cast in the election of Directors." </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
approved, this amendment will become effective upon the filing of Articles of Amendment to the Company's Articles of Incorporation with the Secretary of State of North Carolina. The
Company would make such a filing promptly after approval of the amendment at the annual meeting. The new standard would then be applicable to the election of directors at the 2009 annual meeting of
shareholders. In addition, if this amendment is approved and there is no contested election in 2009, the proxy card for the 2009 annual meeting would be modified such that shareholders would be able
to vote "for" or "against", or to "abstain" from voting with respect to, each director nominee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the vote required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proposal must be approved by a majority of the shares present in person or represented by proxy and entitled to vote at the annual meeting. Abstentions from
voting will have the effect of a vote "Against" the proposal, as described in more detail under the heading "How many votes are needed to approve the other proposals?" on page 5.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B>Amendment to Corporate Governance Principles  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming shareholder approval of the amendment to our Articles of Incorporation described above, we will amend our Corporate Governance Principles. If amended,
our Corporate Governance Principles will provide that any incumbent director in an uncontested election of directors who does not receive a number of votes "for" his or her election in excess of the
votes "against" his or her election (as contemplated under Section&nbsp;(i) of Article Fifth of the Company's Articles of Incorporation) shall promptly tender his or her resignation from the Board.
The amended Corporate Governance Principles
would also require that the Board, through a process managed by the Nominating and Governance Committee and excluding the nominee in question, accept or reject the resignation within 90&nbsp;days
after the Board receives the resignation. The amended Corporate Governance Principles would also provide that if the Board rejected the resignation, it would publicly disclose the reason for such
rejection. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?  </I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;">


<FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE <U>FOR</U> THE PROPOSAL TO APPROVE AN AMENDMENT TO THE ARTICLES OF INCORPORATION REQUIRING A MAJORITY VOTE FOR
ELECTION OF DIRECTORS IN UNCONTESTED ELECTIONS.</B></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></P>

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<FONT SIZE=2><B>ITEM 4: A PROPOSAL RELATING TO THE APPROVAL OF THE COMPANY'S LONG TERM INCENTIVE PLAN AS AMENDED THROUGH THE THIRD AMENDMENT<BR>  (Item&nbsp;4 on the Proxy Card)

    <BR>    </B></FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B>Background and Impact of Amendment to the Company's Long Term Incentive Plan  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;14, 2008, the Board of Directors adopted, subject to shareholder approval, the third amendment (the "Third Amendment") of the YUM!
Brands,&nbsp;Inc. Long Term Incentive Plan (the "LTI Plan"). The Third Amendment will increase the number of shares reserved for delivery under the LTI Plan by 11,000,000 shares representing
approximately 2.3% of shares of common stock outstanding as of the record date and is subject to shareholder approval and will become effective upon such approval. To enable the Company to grant
performance-based compensation that is exempt from the $1&nbsp;million limit on tax-deductible compensation, the performance goals of the LTI Plan must be periodically resubmitted to and
reapproved by the shareholders. Shareholder approval of the LTI Plan as amended through the Third Amendment will constitute approval of the performance goals set forth in the LTI Plan.


</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are asking shareholders to approve the LTI Plan as amended through the Third Amendment to increase the reserved shares and to approve the performance goals included in the LTI Plan at
the 2008 Annual Meeting of Shareholders as it will enable YUM to continue to: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>attract,
retain and motivate talented employees who are critical to the Company's long-term success and growth,

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>maintain
strict corporate governance practices in granting equity to employees, including the continued judicious use of equity awards, and


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>permit
the grant of performance-based compensation that will be exempt from the $1&nbsp;million limit on tax-deductible compensation. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I>Approval of the increase in the reserved shares provided by the Third Amendment will facilitate the attraction, retention and motivation of talented
employees critical to YUM's success.  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YUM's compensation philosophy is based on the principle that the Company will achieve its best results if its employees act and are rewarded as business owners.
The Board believes that stock ownership and stock-based incentive awards are the best way to align the interests of the executive officers, employees and directors with those of YUM's shareholders. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YUM has a long history of linking pay to our long-term stock performance for a broad range of employees, not just executives. Since our spin-off from PepsiCo, we
have provided an annual grant of stock options to our approximately 700 most senior employees and to all of our U.S. brand restaurant managers.

 </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><B><I>Approval of the increase in the reserved shares provided by the Third Amendment will allow YUM to maintain strict corporate governance practices,
including the continued judicious use of equity awards.

 </I></B></FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board believes our equity award granting practices and the provisions of the LTI Plan are consistent with the interests of shareholders and sound corporate
governance practices:

 </FONT></P>


<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Judicious Use of Equity Awards.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Since 2003 (the last time we requested shareholder
approval of additional shares), we have been good stewards of our shares. We have significantly reduced the annual rate at which we have granted equity-based compensation as shown by the run rate in
the table below. The result has been to reduce our overhang (also shown in the table) from 25.3% in 2003 to 15.7% in 2007.</FONT><FONT SIZE=2><B> The reduction in our overhang is even more dramatic
when considering (1)&nbsp;the impact of our substantial share repurchases over the last three years and (2)&nbsp;the fact that many of our employees hold their stock options for over
6&nbsp;years. Our run rate has declined from 2.7% in 2003 to 1.5% in 2007. Our net run rate (that is, grants of equity-based compensation after considering forfeitures) has declined from 1.7% in
2003 to 1.1% in 2007.

  </B></FONT></DD></DL>
</UL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>21</FONT></P>

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<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Share repurchases.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;We repurchased over 125&nbsp;million shares from 2005 through 2007.
Had we not repurchased these shares, our overhang for 2007 would have been reduced by over 3%.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Employees holding options for over 6&nbsp;years.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;YUM's total overhang includes
approximately 17&nbsp;million stock options that are fully vested, in the money, and have been outstanding for at least six years. We believe that the portion of the overhang attributable to
unexercised stock options largely reflects confidence of employees in the long-term future of YUM and also further aligns the interests of option holders with the interests of YUM's
shareholders. If these employees had exercised these stock options instead of holding them, our overhang for 2007 would have been reduced by over&nbsp;3%.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B><I>Combined impact of share repurchase and unexercised options held over 6&nbsp;years.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;As
reflected in the table below, our overhang has decreased from approximately 25.3% in 2003 to approximately 15.7% in 2007. If we had not repurchased 125&nbsp;million shares and if the options our
employees have held more than six years were exercised, our overhang for 2007 would have been approximately 9.9%.

</FONT></DD>

</DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B><U>YUM Overhang and Run Rate</U>  </B></FONT></P>




<!-- User-specified TAGGED TABLE -->
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<TR VALIGN="BOTTOM">
<TH WIDTH="45%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2003</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2004</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:times;"><FONT SIZE=2>Overhang(1)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25.3</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>21.0</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>18.8</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17.0</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15.7</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:times;"><FONT SIZE=2>Run Rate(2)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2.7</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2.0</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:times;"><FONT SIZE=2>Net Run Rate(3)</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.0</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.2</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.1</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.1</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE></DIV>

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<UL>
<UL>
<HR NOSHADE ALIGN="LEFT" WIDTH="120">

<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Overhang
represents all unissued authorized shares under the LTI Plan plus outstanding options, SARs and restricted stock units as a percent of common shares outstanding at the end of
that fiscal year.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Run
rate represents all option awards, SARs, restricted stock units and stock units granted in a fiscal year divided by the average number of common shares outstanding during that
fiscal year.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Net
run rate represents the run rate described in footnote (2) after considering all awards and grants that were forfeited during that fiscal year.

</FONT></DD>

</DL>
</UL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


Based on the continuation of current grant levels, if the LTI Plan as amended by the Third Amendment is approved we anticipate that YUM!'s annual gross run rate would continue to approximate our three
year average of 1.6%.


 </FONT></P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>No Discounted Stock Options or Stock Appreciation Rights (SARs).</B></FONT><FONT SIZE=2>&nbsp;&nbsp;All stock options and
SARs must have an exercise price equal to or greater than the closing price of YUM Common Stock on the date of grant.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>No Annual "Evergreen" Provision.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The Third Amendment authorizes a fixed number of shares
of YUM Common Stock, thereby requiring shareholder approval of any additional authorization of shares.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>No Stock Option Repricings.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The LTI Plan prohibits the repricing of stock options or
SARs without the approval of shareholders. This provision applies to both direct repricings (lowering the exercise price of a stock option) and indirect repricings (canceling an outstanding stock
option or SAR and granting a replacement stock option or SAR with a lower exercise price).

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Minimum Vesting.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Vesting of restricted shares, restricted stock units (RSUs), and other
full value awards granted to employees is based on achievement of performance objectives, completion of a specified period of service, or both. The LTI Plan requires that, where vesting is contingent
solely on completion of a period of service, the minimum service required will be three years (subject to </FONT>

</DD>

</DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>22</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>acceleration
for death, disability, retirement, change in control, and certain involuntary terminations), except in the case of annual incentive deferrals into RSUs where the vesting period is two
years (see page&nbsp;78 for a discussion of our deferral program).


 </FONT></P>


</UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Compensation Forfeiture.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;If the Committee determines that a present or former employee
has used for profit or disclosed to unauthorized persons, confidential or trade secrets of YUM, breached any contract with or violated any fiduciary obligation to YUM, or engaged in any conduct which
the Committee determines is injurious to the Company, the Committee may require the employee to forfeit his or her awards under the LTI Plan.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Independent Committee.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The LTI Plan is administered by the Compensation Committee of the
YUM Board of Directors. All of the members of the Compensation Committee qualify as "independent" under the New York Stock Exchange rules. </FONT></DD></DL>
</UL>
<BR>

<P style="font-family:times;"><FONT SIZE=2><B><I>Approval will permit the grant of performance-based compensation awards that are exempt from the $1&nbsp;million limit on tax-deductible
compensation.  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards under the LTI Plan may be structured to qualify as "performance-based compensation" that is exempt from the $1&nbsp;million limit on
tax-deductible compensation imposed by Section&nbsp;162(m) of the Internal Revenue Code. To satisfy the requirements that apply to performance-based compensation, and continue the
ability to grant performance-based compensation awards, we are requesting shareholder reapproval of the performance goals. If the LTI Plan as amended by the Third Amendment is not approved by
shareholders at the 2008 annual meeting, the Company will thereafter be unable to structure awards (other than options and SARs) to be exempt from the limitation on tax deductible compensation of
$1&nbsp;million. (This subject is explained in more detail below under "What performance goals may be used for "performance-based compensation" awards?") </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A proposal will be presented at the annual meeting to approve the YUM! Brands,&nbsp;Inc. Long Term Incentive Plan (the "LTI Plan"), as amended through the Third
Amendment, which was originally approved by the Company's shareholders on May&nbsp;20, 1999 (formerly the Tricon Global Restaurants,&nbsp;Inc. Long Term Incentive Plan). An amendment of the LTI
Plan, which increased the total number of shares of the Company's common stock that were available for grants under the LTI Plan from 30,400,000 shares to 59,600,000 (as adjusted for stock splits),
was approved by the Company's shareholders on May&nbsp;15, 2003. On March&nbsp;14, 2008, the Board adopted, subject to shareholder approval, the Third Amendment of the LTI Plan, which proposes to
increase the total number of shares of the Company's common stock that are available for grants under the LTI Plan from 59,600,000 shares to 70,600,000. The 11,000,000 share increase represents
approximately 2.3% of the outstanding shares of common stock as of the record date for the annual meeting. A summary of the material provisions of the LTI Plan, as amended, is set forth below and is
qualified in its entirety by reference to the LTI Plan, as amended, as set forth in Appendix&nbsp;1. If the LTI Plan as amended through the Third Amendment is not approved by shareholders, the
increase in the number of shares reserved under the LTI Plan pursuant to the Third Amendment will not take effect, and the Company will be unable to structure certain awards to be exempt from the
limitation on tax deductible compensation of $1&nbsp;million.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>The purpose of the LTI Plan is to:  </I></B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>motivate
Participants, by means of appropriate incentives, to achieve long-range corporate goals;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>attract
and retain persons eligible to participate in the LTI Plan;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>provide
incentive compensation opportunities that are competitive with those of similar companies; and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>23</FONT></P>

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<A NAME="page_do17101_1_24"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>further
align Participants' interests with those of the Company's other shareholders through stock based compensation and thereby promote the long-term financial
interest of the Company and its subsidiaries, including the growth in value of the Company's equity and enhancement of long-term shareholder return. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>To
achieve these objectives, the LTI Plan provides for the grant of the following "Awards": </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>non-qualified
and incentive stock options;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>stock
appreciation rights; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>other
stock awards including stock units, restricted stock units, performance shares, performance units, and restricted stock. </FONT></DD></DL>
</UL>
<BR>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who is eligible to participate in the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee (defined below) may grant one or more Awards to any employee of the Company or its subsidiaries and to any director of the Company (the
"Participants"). As of December&nbsp;29, 2007, the Company and its subsidiaries had approximately 301,000 employees. The specific employees who initially will be granted Awards under the LTI Plan
and the type and amount of any such Awards will be determined by the Committee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What types of awards may be granted?  </I></B></FONT></P>

<P style="font-family:times;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>OPTIONS.&nbsp;&nbsp;The Committee may grant options under the LTI Plan to purchase stock which may be either
non-qualified stock options or incentive stock options. The purchase price of a share of stock under each option shall not be less than the closing price of a share of stock on the date
the option is granted. The option shall be exercisable in accordance with the terms established by the Committee. In general, the Committee intends that the option terms will provide that options will
become exercisable in equal proportions on the four anniversary dates after grant and will require the Participant to be employed up until the date of exercise. (From time to time, the Committee may
award "Chairman's Awards" for superlative performance. These grants may vest over four or five years as determined by the Committee). The full purchase price of each share of stock purchased upon the
exercise of any option shall be paid at the time of exercise. Except as otherwise determined by the Committee, the purchase price shall be payable in cash, in stock (valued at closing price as of the
day of exercise), or in any combination thereof. The Committee may impose such conditions, restrictions, and contingencies on stock acquired pursuant to the exercise of an option as the Committee
determines to be desirable.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>STOCK APPRECIATION RIGHTS.&nbsp;&nbsp;The Committee may grant a stock appreciation right ("SAR") in connection with all or
any portion of a previously or contemporaneously granted option or independent of any option grant. A SAR entitles the Participant to receive the amount by which the fair market value of a specified
number of shares on the exercise date exceeds an exercise price established by the Committee. The exercise price may not be less than the closing price of a share of the stock at the time the SAR is
granted. Such excess amount shall be payable in Stock, in cash, or in any combination thereof, as determined by the Committee.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>OTHER STOCK AWARDS.&nbsp;&nbsp;The Committee may grant stock units (a right to receive stock in the future), performance
shares (a right to receive stock or stock units contingent upon achievement of performance or other objectives), performance units (a right to receive a designated dollar amount of stock contingent on
achievement of performance or other objectives) and restricted stock and restricted stock units (a grant of stock and the right to receive stock in the future, respectively, with such shares or rights
subject to a risk of forfeiture or other restrictions that lapse upon the achievement of one or more goals relating to completion of service by the Participant or the achievement of performance or
other objectives, as determined by the Committee). Any such </FONT>

</DD>

</DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>24</FONT></P>

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<UL>
<UL>



<P style="font-family:times;"><FONT SIZE=2>Award
shall be subject to such conditions, restrictions and contingencies as the Committee determines.

 </FONT></P>


</UL>
</UL>


<UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>As
described above, vesting of restricted shares, restricted stock units, performance shares or performance units granted to Participants is based on achievement of performance objectives, completion
of a specified period of service, or both. In the case of awards to employees, the LTI Plan requires that, if vesting is contingent solely on completion of a period of service, the minimum service
required will be three years (subject to acceleration for death, disability, retirement, change in control, and certain involuntary termination), except in the case of annual incentive deferrals,
where the Company awards restricted shares with a two year vesting period. These awards (described more fully beginning on page 78) are granted as a settlement of earned annual cash incentives and are
designed to encourage employee stock ownership. In addition, employees are permitted to defer their salary or annual cash incentive into stock units payable at a date elected by the employee. This
feature is also designed to encourage employee stock ownership.

</FONT></P>

</UL>
</UL>


<P style="font-family:times;"><FONT SIZE=2><B><I>What performance goals may be used for "performance-based compensation" awards?  </I></B></FONT></P>

<P style="font-family:times;">

<FONT SIZE=2>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A federal income tax deduction will generally be unavailable for annual compensation in excess of $1&nbsp;million paid to officers (not more than five) listed
in the Company's proxy statement. However, amounts that constitute "performance-based compensation" are not counted toward the $1&nbsp;million limit. Generally, options and SARs granted under the
LTI Plan will satisfy the performance-based compensation exemption from the $1&nbsp;million limit. Other awards, including stock units, performance shares, performance units, restricted stock, and
restricted stock units may be "performance-based compensation" only if they are so designated by the Committee and are conditioned on the achievement of one or more performance goals, as required by
Section&nbsp;162(m) of the Internal Revenue Code. The performance goals that may be used by the Committee for such Awards may be based on any one or more of the following Company, subsidiary,
operating unit or division performance measures: cash flow; earnings; earnings per share; market value added or economic value added; profits; return on assets; return on equity; return on investment;
revenues; stock price; total shareholder return; customer satisfaction metrics; or restaurant unit development. Each goal may be expressed on an absolute and/or relative basis, may be based on or
otherwise employ comparisons based on internal targets, the past performance of the Company and/or the past or current performance of other companies, and in the case of earnings-based measures, may
use or employ comparisons relating to capital, shareholders' equity, shares outstanding, investments, assets or net assets. To satisfy the requirements that apply to performance-based compensation,
these goals must be





reapproved by the Company's shareholders no later than the first shareholder meeting that occurs in the fifth year following the year in which shareholders previously approved the goals. Approval of
the LTI Plan as amended through the Third Amendment will constitute reapproval of the foregoing goals.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who administers the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The LTI Plan is administered by a committee (the "Committee") selected by the Board and consisting solely of two or more outside members of the Board. If the
Committee does not exist, or for any other reason determined by the Board, the Board may take any action under the LTI Plan that would otherwise be the responsibility of the Committee. The
Compensation Committee of the YUM Board currently serves as the Committee under the LTI Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the authority of the Committee?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee will have the authority and discretion to select from among the eligible individuals those persons who shall receive Awards, to determine the time
or times of receipt, to determine the types of Awards and the number of shares covered by the Awards, to establish the terms, conditions, performance criteria, restrictions, and other provisions of
such Awards, and subject to certain limits, to cancel or suspend Awards. To the extent that the Committee determines that the restrictions imposed by </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>25</FONT></P>

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<BR>

<P style="font-family:times;"><FONT SIZE=2>the
LTI Plan preclude the achievement of the material purposes of the Awards in jurisdictions outside the United States, the Committee will have the authority and discretion to modify those
restrictions as the Committee determines to be necessary or appropriate to conform to applicable requirements or practices of jurisdictions outside of the United States. The Committee will have the
authority and discretion to interpret the LTI Plan, to establish, amend, and rescind any rules and regulations relating to the LTI Plan, to determine the terms and provisions of any Award agreement
made pursuant to the LTI Plan, and to make all other determinations that may be necessary or advisable for the administration of the LTI Plan. Any interpretation of the LTI Plan by the Committee and
any decision made by it under the LTI Plan is final and binding on all persons. Except to the extent prohibited by applicable law or the applicable rules of a stock exchange, the Committee may
allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person or persons selected
by it. Until action to the contrary is taken by the Committee, the Committee's authority with respect to matters concerning Participants below the Executive Officer level is delegated to the Chief
Executive Officer and Chief People Officer of the Company. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the limits on awards under the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The LTI Plan, as originally approved by the Company's shareholders on May&nbsp;20, 1999, provided for 30,400,000 reserved shares. An amendment of the LTI Plan,
which increased the total number of shares of the Company's common stock that are available for grants under the LTI Plan from 30,400,000 shares to 59,600,000 (as adjusted for stock splits), was
approved by the Company's shareholders on May&nbsp;15, 2003. On March&nbsp;14, 2008, the Board adopted, subject to shareholder approval, an amendment to the LTI Plan which proposes to increase the
total number of shares of the Company's common stock that are available for grants under the LTI Plan from 59,600,000 shares to 70,600,000 (subject to the adjustment for any future stock splits or
other capital transactions as described below). The Company does not intend to request shareholders to approve the authorization of additional shares under the LTI Plan until at least 2011.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent any shares of stock covered by an Award are not delivered to a Participant or beneficiary because the Award is forfeited or canceled, or the shares of stock are not
delivered because the Award is settled in cash or used to satisfy the applicable tax withholding obligation, such shares shall not be deemed to have been delivered for purposes of determining the
maximum number of shares of stock available for delivery under the LTI Plan. If the exercise price of any stock option granted under the LTI Plan is satisfied by tendering shares of stock to the
Company (by either actual delivery or by attestation), only the number of shares of stock issued net of the shares of stock tendered shall be deemed delivered for purposes of determining the maximum
number of shares of stock available for delivery under the LTI Plan. For purposes of applying the limit of the number of shares of stock available under the LTI Plan, the amended plan would provide
that each share of stock delivered to a Participant or beneficiary pursuant to the grant of other stock awards (including stock units, restricted stock units, performance shares, performance units,
and restricted stock) would be counted as covering two shares of stock, and would reduce the total number of shares of stock available for delivery under the LTI Plan by two shares; except, however,
restricted shares or restricted units granted as settlement of earned annual incentives or base salary deferrals will be counted as covering one share and will reduce the total number of shares of
stock available for delivery under the LTI Plan by one share. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amendment would also modify the following specific limits in the Plan:


 </FONT></P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>increase
the number of shares from 4,500,000 to no more than 9,000,000&nbsp;shares of stock that may be issued for options and SARs granted to any one individual in any
five-calendar-year period;


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>increase
the number of shares from 1,500,000 to no more than 3,000,000&nbsp;shares of stock that may be issued for stock unit, restricted stock, restricted stock unit, and
performance share awards that are intended to be "performance-based compensation" (as described below) granted to any one individual during any five-calendar-year period;

 </FONT></DD>

</DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
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<UL>
<UL>

</UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>increase
the number of shares from 6,000,000 to no more than 12,000,000&nbsp;shares of stock that may be issued for stock units, restricted stock, and performance units
awards (except that stock units, restricted stock and restricted stock units granted with respect to the deferral of salary or annual cash incentive awards and in lieu of the receipt of such awards
will not count toward this maximum); and


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>increase
from $4,000,000 to no more than $10,000,000 the dollar limit that may be covered by performance unit awards that are intended to be "performance-based compensation"
granted to any one individual during any one-calendar-year period.

 </FONT></DD>

</DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of stock with respect to which Awards may be made under the LTI Plan shall be shares currently authorized but unissued and shares purchased in the open market or in private
transactions. At the discretion of the Committee, an Award under the LTI Plan may be settled in cash rather than stock. The closing price with respect to the stock on December&nbsp;28, 2007 was
$38.54 per share.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee may use shares of stock available under the LTI Plan as the form of payment for compensation, grants or rights earned or due under any other compensation plans or
arrangements of the Company or a subsidiary. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of a corporate transaction involving the Company (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization,
reorganization, merger, consolidation, split-up, spin-off, combination or exchange of shares), the Committee will adjust Awards to preserve the benefits or potential benefits
of the Awards. Action by the Committee may include: (i)&nbsp;adjustment of the number and kind of shares which may be delivered; (ii)&nbsp;adjustment of the number and kind of shares subject to
outstanding Awards; (iii)&nbsp;adjustment of the exercise price of outstanding options and SARs; and (iv)&nbsp;any other adjustments that the Committee determines to be equitable. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board adopted the Second Amendment of the LTI Plan to satisfy the requirements of Internal Revenue Code Section&nbsp;409A relating to nonqualified deferred compensation. The Second
Amendment limits the extent of certain of the above-described adjustments and makes other technical changes. This amendment was intended to conform the LTI Plan to changes required by law, and was not
subject to shareholder approval.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided by the Committee, Awards under the LTI Plan are not transferable except as designated by the Participant by will or by laws of descent and distribution. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What happens to awards upon a change in control?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally, the Committee may provide under the terms of any Award that upon a change in control, as defined in the LTI Plan, all outstanding options and SARs will
become fully exercisable and all stock units, restricted stock, restricted stock units and performance shares will become fully vested. Any restricted shares attributable to deferrals under the
Company's income deferral plan shall become fully vested upon a change of control as discussed beginning at page&nbsp;82.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the duration of the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The LTI Plan will continue in effect, until terminated by the Board; provided, however, that no award may be granted under the LTI Plan on or after May&nbsp;15,
2018, which is the ten-year anniversary of May&nbsp;15, 2008, the date shareholders will vote whether to approve the LTI Plan as amended by the Third Amendment. However, any awards that
are outstanding on or after the date of LTI Plan termination will remain subject to the terms of the LTI Plan.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
shareholders do not approve the LTI Plan as amended by the Third Amendment, no awards may be granted under the LTI Plan after May&nbsp;20, 2009. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>27</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><B><I>May the LTI Plan be amended or terminated?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board may, at any time, amend or terminate the LTI Plan, provided that no amendment or termination may, in the absence of consent to the change by the
affected Participant, adversely affect the rights of any Participant or beneficiary under any Award granted under the LTI Plan prior to the date such amendment is adopted by the Board. However, no
amendment may increase the limits on shares, decrease the minimum option or SAR exercise price, or modify the restrictions on repricing without shareholder approval. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the tax treatment of awards under the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a brief description of the U.S. federal income tax treatment that will generally apply to Awards under the LTI Plan based on current U.S. federal
income tax rules.


 </FONT>

</P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>NON-QUALIFIED STOCK OPTIONS.&nbsp;&nbsp;The grant of a non-qualified stock option will not result
in taxable income to the Participant. Except as described below, the Participant will realize ordinary income at the time of exercise in an amount equal to the excess of the fair market value of the
stock acquired over the exercise price for those shares, and the Company will be entitled to a corresponding tax deduction. Gains or losses realized by the Participant upon disposition of such shares
will be treated as capital gains and losses, with the basis in such stock equal to the fair market value of the shares at the time of exercise.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>INCENTIVE STOCK OPTIONS.&nbsp;&nbsp;The grant of an incentive stock option will not result in taxable income to the
Participant. The exercise of an incentive stock option will not result in taxable income to the Participant provided that the Participant was, without a break in service, an employee of the Company or
a subsidiary during the period beginning on the date of the grant of the option and ending on the date three months prior to the date of exercise (one year prior to the date of exercise if the
Participant is disabled, as that term is defined in the Internal Revenue Code). The excess of the fair market value of the stock at the time of the exercise of an incentive stock option over the
exercise price is an adjustment that is included in the calculation of the Participant's alternative minimum taxable income for the tax year in which the incentive stock option is exercised.

 </FONT></DD>

</DL>
</UL>

<UL>
<UL>


<P style="font-family:times;"><FONT SIZE=2>If
the Participant does not sell or otherwise dispose of the stock within two years from the date of the grant of the incentive stock option or within one year after the transfer of such stock to the
Participant, then, upon disposition of such stock, any amount realized in excess of the exercise price will be taxed to the Participant as capital gain and the Company will not be entitled to a
corresponding tax deduction. A capital loss will be recognized to the extent that the amount realized is less than the exercise price.

 </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


If the foregoing holding period requirements are not met, the Participant will generally realize ordinary income at the time of the disposition of the shares, in an amount equal to the lesser of
(i)&nbsp;the excess of the fair market value of the stock on the date of exercise over the exercise price, or (ii)&nbsp;the excess, if any, of the amount realized upon disposition of the shares
over the exercise price, and the Company will be entitled to a corresponding tax deduction. If the amount realized exceeds the value of the shares on the date of exercise, any additional amount will
be capital gain. If the amount realized is less than the exercise price, the Participant will recognize no ordinary income, and a capital loss will be



recognized equal to the excess of the exercise price over the amount realized upon the disposition of the shares.


 </FONT></P>

</UL>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>STOCK APPRECIATION RIGHTS.&nbsp;&nbsp;The grant of a SAR will not result in taxable income to the Participant. Upon
exercise of a SAR, the amount of cash or the fair market value of stock received will be taxable to the Participant as ordinary income and the Company will be entitled to a corresponding deduction.
Gains and losses realized by the Participant upon disposition of any such shares will be treated as capital gains and losses, with the basis in such shares equal to the fair market value of the shares
at the time of exercise.

</FONT></DD></DL>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>28</FONT></P>

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<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>PERFORMANCE SHARES AND PERFORMANCE UNITS.&nbsp;&nbsp;A Participant who has been granted a performance share award or
performance unit award will not realize taxable income at the time of grant. The Participant will have compensation income at the time of distribution equal to the amount of cash received and the then
fair market value of the distributed shares. The Company will be entitled to a corresponding tax deduction.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>RESTRICTED AND OTHER STOCK.&nbsp;&nbsp;A Participant who has been granted a restricted stock award will not realize taxable
income at the time of grant and the Company will not be entitled to a corresponding deduction, assuming that the restrictions constitute a "substantial risk of forfeiture" for federal income tax
purposes. Upon the vesting of stock subject to an Award, the holder will realize ordinary income in an amount equal to the then fair market value of those shares, and the Company will be entitled to a
corresponding tax deduction. Gains or losses realized by the Participant upon disposition of such shares will be treated as capital gains and losses, with the basis in such shares equal to the fair
market value of the shares at the time of vesting. Dividends paid to the holder during the restriction period, if so provided, will also be compensation income to the Participant and the Company will
be entitled to a corresponding tax deduction. A Participant may elect pursuant to Section&nbsp;83(b) of the Internal Revenue Code to have income recognized at the date of grant of a restricted stock
award and to have the applicable capital gain holding period commence as of that date. If the Participant makes this election, the Company will be entitled to a corresponding tax deduction.

 </FONT></DD></DL>
</UL>
<BR>


<P style="font-family:times;"><FONT SIZE=2><B><I>Will the company withhold tax under the LTI Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may withhold amounts from Participants to satisfy withholding tax requirements. Subject to guidelines established by the Committee, Participants may
have stock withheld from Awards or may tender stock to the Company to satisfy tax withholding requirements.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Does the LTI Plan satisfy the requirements of Section&nbsp;162(m)?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;162(m) of the Internal Revenue Code disallows a federal income tax deduction for certain compensation in excess of $1&nbsp;million per year paid
to certain officers of a public corporation. However, compensation that qualifies as "performance-based compensation" is not subject to the $1&nbsp;million limit. Generally, options and SARs granted
under the LTI Plan will constitute performance-based compensation. Other Awards designated by the Committee as intended to be performance-based compensation will be so treated only if they are
conditioned on the achievement of one or more shareholder-approved performance goals. Shareholders have previously approved the performance goals set forth in the LTI Plan. To continue the ability to
grant awards (other than options and SARs) that satisfy the requirements for performance-based compensation, these goals must be reapproved by the Company's shareholders. Shareholder approval of the
LTI Plan as amended through the Third Amendment will constitute reapproval of the performance goals set forth in the LTI Plan. (This subject is explained in more detail above under "What performance
goals may be used for "performance-based compensation" awards?") </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the tax treatment of awards upon a Change in Control?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any acceleration of the vesting or payment of Awards under the LTI Plan in the event of a Change in Control of the Company may cause part or all of the Change in
Control benefits involved to be treated as an "excess parachute payment" under the Internal Revenue Code, which may subject the Participant to a 20% excise tax and preclude a tax deduction by the
Company.

</FONT>

</P>

<P style="font-family:times;">


<FONT SIZE=2><B><I>What vote is required to approve this proposal?

  </I></B></FONT>

</P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the annual
meeting.


</FONT>

</P>

<P style="font-family:times;">


<FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?

 </I></B></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;">


<FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE <U>FOR</U> APPROVAL OF THE YUM! BRANDS,&nbsp;INC. LONG TERM INCENTIVE PLAN AS AMENDED BY THE THIRD AMENDMENT.

  </B></FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>29</FONT></P>

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<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_do17101_1_30"> </A>

<P style="font-family:times;"><FONT SIZE=2><B> Equity Compensation Plan Information  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes, as of December&nbsp;31, 2007, the equity compensation plans under which we may issue shares of stock to our directors, officers
and employees under the 1999 Long Term Incentive Plan ("1999 Plan"), SharePower Plan and Restaurant General Manager Stock Option Plan ("RGM Plan"). </FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="97%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="31%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Plan Category<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Securities<BR>
To be Issued Upon<BR>
Exercise of<BR>
Outstanding<BR>
Options,<BR>
Warrants and Rights</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Weighted-Average<BR>
Exercise Price of<BR>
Outstanding Options,<BR>
Warrants and Rights</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="21%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of Securities<BR>
Remaining Available<BR>
for Future Issuance<BR>
Under Equity<BR>
Compensation Plans<BR>
(Excluding Securities<BR>
Reflected in Column (a))</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="31%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(a)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(b)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="21%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Equity compensation plans approved by security holders</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>49,457,064</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17.38</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>16,828,507</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Equity compensation plans not approved by security holders(4)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,927,430</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>18.94</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,445,791</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>55,384,494</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17.57</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>23,274,298</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">

<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Includes
6,087,126&nbsp;shares issuable in respect of RSUs, performance units and deferred units.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Weighted
average exercise price of outstanding options and SARs only.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Includes
6,000,000 shares available for issuance of awards of stock units, restricted stock, restricted stock units and performance share unit awards under the 1999 Plan.


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Awards
are made under the RGM Plan. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the key features of the 1999 Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The 1999 Plan provides for the issuance of up to 59,600,000 shares of stock as non-qualified stock options, incentive stock options, SARs, restricted
stock, restricted stock units, performance shares or performance units. Only our employees and directors are eligible to receive awards under the 1999 Plan. The purpose of the 1999 Plan is to motivate
participants to achieve long range goals, attract and retain eligible employees, provide incentives competitive with other similar companies and align the interest of employees and directors with
those of our shareholders. The 1999 Plan is administered by the Compensation Committee of the Board of Directors. The exercise price of a stock option grant or SAR under the 1999 Plan may not be less
than the average market price of our stock on the date of grant for years prior to 2008 or the closing price of our stock on the date of the grant beginning in 2008, and no options or SARs may have a
term of more than ten years. The options and SARs that are currently outstanding under the 1999 Plan generally vest over a one to four year period and expire ten years from the date of the grant. The
1999 Plan was approved by the shareholders in May 1999, and they approved the plan as amended in 2003.


</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the key features of the SharePower Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SharePower Plan provides for the issuance of up to 28,000,000 shares of stock. The SharePower Plan allows us to award non-qualified stock options,
stock appreciation rights ("SARs"), restricted stock and restricted stock units. Employees, other than executive officers, are eligible to receive awards under the SharePower Plan. The SharePower Plan
is administered by the Compensation Committee of the Board of Directors. The exercise price of a stock or SAR option grant under the SharePower Plan may not be less than the closing price of our stock
on the date of the grant and no option or SAR may have a term of more than ten years. The options that are currently outstanding under the SharePower Plan generally vest over a one to four year period
beginning on the date of grant. The SharePower Plan was originally approved by PepsiCo,&nbsp;Inc. as the sole shareholder of the Company in 1997, prior to the spin-off of the Company
from PepsiCo,&nbsp;Inc. on October&nbsp;6, 1997.

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>30</FONT></P>

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<A NAME="page_do17101_1_31"> </A>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the key features of the RGM Plan?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The RGM Plan provides for the issuance of up to 30,000,000 shares of common stock at a price equal to or greater than the closing price of our stock on the date
of grant. The RGM Plan allows us to award non-qualified stock options, stock appreciation rights, restricted stock and restricted stock units. Employees, other than executive officers, are
eligible to receive awards under the RGM Plan. The purpose of the RGM Plan is (i)&nbsp;to give restaurant general managers ("RGMs") the opportunity to become owners of stock, (ii)&nbsp;to align
the interests of RGMs&nbsp;with those of YUM's other shareholders, (iii)&nbsp;to emphasize that the RGM is YUM's #1 leader, and (iv)&nbsp;to reward the performance of RGMs.&nbsp;In addition,
the Plan provides incentives to Area Coaches, Franchise Business Leaders and other supervisory field operation positions that support RGMs&nbsp;and have profit and loss responsibilities within a
defined region or area. While all non-executive officer employees are eligible to receive awards under the RGM plan, all awards granted have been to RGMs&nbsp;or their direct supervisors
in the field. Grants to RGMs&nbsp;generally have four year vesting and expire after ten years. The RGM Plan is administered by the Compensation Committee of the Board of Directors, and the
Compensation Committee has delegated its responsibilities to the Chief People Officer of the Company. The Board of Directors approved the RGM Plan on January&nbsp;20, 1998.

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>31</FONT></P>

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NAME="page_dq17101_1_32"> </A>


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 </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq17101_item_5__shareholder_proposal_r__ite03444"> </A>
<A NAME="toc_dq17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 5: SHAREHOLDER PROPOSAL<BR>  Relating to the MacBride Principles<BR>  (Item&nbsp;5 on the Proxy Card)    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>YUM BRANDS<BR>
NORTHERN IRELAND&#151;MACBRIDE PRINCIPLES  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Comptroller of the City of New York on behalf of the several funds for which it is custodian and trustee have advised us that they intend to present the
following shareholder proposal at the annual meeting. We will furnish the addresses and the share ownership of the proponent upon request. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHERAS</B></FONT><FONT SIZE=2>, Yum Brands,&nbsp;Inc., has twenty-eight Kentucky Fried Chicken franchise restaurants in Northern Ireland; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, the securing of a lasting peace in Northern Ireland encourages us to promote means for establishing justice and equality; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, employment discrimination in Northern Ireland was cited by the International Commission of Jurists as being one of the major
causes of sectarian strife; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, Dr.&nbsp;Sean MacBride, founder of Amnesty International and Nobel Peace laureate, has proposed several equal opportunity
employment principles to serve as guidelines for corporations in Northern Ireland. These include: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increasing
the representation of individuals from underrepresented religious groups in the workforce including managerial, supervisory, administrative, clerical and
technical jobs. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adequate
security for the protection of minority employees both at the workplace and while traveling to and from work. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
banning of provocative religious or political emblems from the workplace. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
job openings should be publicly advertised and special recruitment efforts should be made to attract applicants from underrepresented religious groups. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Layoff,
recall, and termination procedures should not in practice, favor particular religious groupings. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
abolition of job reservations, apprenticeship restrictions, and differential employment criteria, which discriminate on the basis of religion or ethnic origin. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
development of training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs
and the creation of new programs to train, upgrade, and improve the skills of minority employees. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
establishment of procedures to assess, identify and actively recruit minority employees with potential for further advancement. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
appointment of a senior management staff member to oversee the company's affirmative action efforts and the setting up of timetables to carry out affirmative action
principles. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED:</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Shareholders request the Board of Directors to: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
urge Yum Brands' franchise holders in Northern Ireland to take all possible lawful efforts to implement and/or increase activity on each of the nine MacBride Principles. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dq17101_1_33"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq17101_supporting_statement"> </A>
<A NAME="toc_dq17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>SUPPORTING STATEMENT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that out company benefits by hiring from the widest available talent pool. An employee's ability to do the job should be the primary consideration in
hiring and promotion decisions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Implementation
of the MacBride Principles by Yum Brands' KFC franchise holders will demonstrate its concern for human rights and equality of opportunity in its international operations. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
vote your proxy </FONT><FONT SIZE=2><B><U>FOR</U></B></FONT><FONT SIZE=2> these concerns. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq17101_management_statement_i__dq102471"> </A>
<A NAME="toc_dq17101_3"> </A>
<BR></FONT><FONT SIZE=2><B>MANAGEMENT STATEMENT IN OPPOSITION<BR>  TO SHAREHOLDER PROPOSAL    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?  </I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq17101_the_board_of_directors_recomme__the02835"> </A>
<A NAME="toc_dq17101_4"> </A></FONT> <FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Company's position regarding the MacBride Principles?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company supports efforts to eliminate employee discrimination and differences in compensation rates in the workplace between the Catholic and Protestant
communities in Northern Ireland. To address this and similar issues, Northern Ireland has adopted a series of legislative measures, culminating in the Fair Employment&nbsp;&amp; Treatment (NI) Order
1998 (the "Order"). These legislative measures, which apply to all employers in Northern Ireland, including our franchise business, are wide-ranging and specifically designed to deter
discrimination and provide remedies for those affected by discrimination. Among other things, the Order specifically prohibits discrimination based on the ground of religious belief or political
opinion. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
enforcement of the Order is handled by the Equality Commission, a non-departmental government agency with extensive powers and resources. All remedies and complaints
under the Order are handled by the Fair Employment Tribunal (the "Tribunal"), an independent judicial tribunal with extensive powers to provide remedies to those affected by discrimination. Those
failing to abide by the requirements of the Tribunal can face monetary fines and other penalties. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
MacBride Principles, which date from the mid-1980's, precede the Order and related legislation and are no longer appropriate as a result of the legislation. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>Why does the Company oppose this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All 33 KFC and 13 Pizza Hut stores in Northern Ireland are owned and operated by franchisees. There are no Company-owned KFC or Pizza Hut restaurants operating in
Northern Ireland, and the Company does not have a subsidiary in Northern Ireland. Under its franchise agreements, our franchisees are required to comply with all applicable laws, regulations, rules,
by-laws, orders and ordinances in the operation of its business, which includes the Order. As a result, the franchisees are currently required to implement fair and equal employment
practices and are prohibited from discriminating on the ground of religious belief or political opinion in accordance with the Order. However, under the terms of the franchise agreement, we cannot
require the franchisees to adopt the MacBride Principles since they have no legal effect in Northern Ireland. Furthermore, we do not believe it is necessary or appropriate for the Company to attempt
to force its franchisees to adopt similar but not identical fair employment guidelines that overlap with the existing laws of Northern Ireland. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally,
proposals virtually identical to this proposal have been submitted at five consecutive Annual Meetings. In each case, we have opposed the proposals and our shareholders have
overwhelmingly rejected them. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>33</FONT></P>

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<A NAME="page_dq17101_1_34"> </A>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the above reasons, the Company continues to believe that the adoption of the MacBride Principles is unnecessary and burdensome, and therefore, not in the best interest of the
Company, the franchisees or their employees. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq17101_for_these_reasons,_we_recommen__for02712"> </A>
<A NAME="toc_dq17101_5"> </A>
<BR></FONT><FONT SIZE=2><B>FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the Annual
Meeting. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>34</FONT></P>

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 </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_item_6__shareholder_proposal_r__ite05085"> </A>
<A NAME="toc_ds17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 6: SHAREHOLDER PROPOSAL<BR>  Relating to an Advisory Shareholder Vote to Ratify Executive Compensation<BR>  (Item&nbsp;6 on the Proxy Card)    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Missioners of America has advised us that they intend to present the following shareholder proposal at the annual meeting. We will furnish the addresses and
the share ownership of the proponent upon request. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_advisory_vote_on_executive_compensation"> </A>
<A NAME="toc_ds17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>ADVISORY VOTE ON EXECUTIVE COMPENSATION    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED, that shareholders of YUM! Brands request the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder
meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers ("NEOs") set forth in the proxy statement's Summary Compensation Table
(the "SCT") and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to shareholders
should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any NEO. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_supporting_statement"> </A>
<A NAME="toc_ds17101_3"> </A>
<BR></FONT><FONT SIZE=2><B>SUPPORTING STATEMENT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors are increasingly concerned about mushrooming executive compensation which sometimes appears to be insufficiently aligned with the creation of
shareholder value. As a result, in 2007
shareholders filed more than 60 "say on pay" resolutions with companies, averaging a 42% vote where voted upon including 41% at YUM! Brands. In fact, eight resolutions received majority votes. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the advisory vote was endorsed by the Council of Institutional Investors and a survey by the Chartered Financial Analyst Institute found that 76% of its members favored
giving shareholders an advisory vote. A bill to provide for annual advisory votes on compensation passed in the House of Representatives by a 2-to-1 margin. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aflac
decided to present such a resolution to investors in 2009 and TIAA-CREF, the largest pension fund in the world, held its first Advisory Vote in 2007. As a result of
discussions between investors and companies, a Working Group on the Advisory Vote was established to further study how such a practice would be implemented in the U.S. markets to provide advice to
investors and companies alike. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that existing U.S. corporate governance arrangements, including SEC rules and stock exchange listing standards, do not provide shareholders with sufficient mechanisms for
providing input to boards on senior executive compensation. In contrast to U.S. practices, in the United Kingdom, public companies allow shareholders to cast an advisory vote on the "directors'
remuneration report," which discloses executive compensation. Such a vote isn't binding, but gives shareholders a clear voice that could help shape senior executive compensation. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currently
U.S. stock exchange listing standards require shareholder approval of equity-based compensation plans; those plans, however, set general parameters and accord the compensation
committee substantial discretion in making awards and establishing performance thresholds for a particular year. Shareholders do not have any mechanism for providing ongoing feedback on the
application of those general standards to individual pay packages. If investors wish to register opposition to a pay package(s) in the previous year, withholding votes from compensation committee
members who are standing for reelection is a blunt and insufficient instrument for registering dissatisfaction. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accordingly,
we urge the board to allow shareholders to express their opinion about senior executive compensation by establishing an annual referendum process. The results of such a vote
could provide our board with useful information about shareholder views on the company's senior executive compensation, as reported each year. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>35</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_management_statement_i__ds102473"> </A>
<A NAME="toc_ds17101_4"> </A>
<BR></FONT><FONT SIZE=2><B>MANAGEMENT STATEMENT IN OPPOSITION<BR>  TO SHAREHOLDER PROPOSAL    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?  </I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_the_board_of_directors_recomme__the02835"> </A>
<A NAME="toc_ds17101_5"> </A></FONT> <FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Company's position regarding this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This proposal seeks to solicit a non-binding vote from shareholders regarding the compensation provided to the executives named in the Company's
Summary Compensation Table. For the reasons explained below, the Board of Directors does not believe the proposal is in the best interest of YUM or our shareholders. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>Why does the Company oppose this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors reached it decision to oppose this proposal after careful consideration of the Compensation Committee's in-depth study of the
pros and cons of adopting the advisory vote, which was requested by several shareholders, and after discussing this issue with a number of our largest shareholders. As further explained below, our
primary reasons for opposing the proposal include: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>We
believe shareholders play an important role in corporate governance through the election of directors, but direct engagement and dialogue is more effective than a "yes"
or "no" vote with respect to executive compensation;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>We
do not believe that reducing the complex decisions that go into designing and administering a compensation program to a "yes" or "no" vote is an effective or efficient
way to obtain shareholder input;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>We
believe that YUM's executive pay program has driven strong company performance and shareholder returns, and it would not benefit YUM or our shareholders to alter this
successful program; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>We
believe that implementing an advisory vote at YUM while not implementing the same vote at YUM's competitors and peers would put YUM at a competitive disadvantage in
attracting and retaining executive talent, thereby negatively affecting YUM's performance and our shareholders. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although our Articles of Incorporation grant exclusive authority to fix executive compensation to the Board of Directors, the Board believes that both transparency and shareholder input
on the subject is important. In fact, as part of our study on the advisory vote, we recently reached out to a number of our largest shareholders to understand their perspective on this issue. We will
continue to closely monitor developments on this issue and discuss the advisory vote with our large shareholders. While we believe that this direct engagement has further enhanced communication with
our shareholders, YUM has always maintained an open door policy. We encourage shareholders to express their opinions on all matters of interest to them, including executive compensation, by contacting
members of the Board, including members of the Compensation Committee, as described on page&nbsp;10 regarding "How do shareholders communicate with the Board?" This direct engagement allows
shareholders to clearly and specifically share their opinions on our executive compensation program directly with us. A simple "yes" or "no" vote on compensation does not provide that level of
communication or understanding. This is especially true in the event of a "no" vote on compensation since the vote alone will not provide any insight into what specific items shareholders are voting
against (or why they voted against it). We believe that our current process of direct engagement already allows an avenue for discussion of specific concerns regarding compensation. We do not expect
that a retrospective advisory vote would improve or significantly alter that process of direct engagement.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>36</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Compensation Committee, which is comprised entirely of independent, non-employee directors, is responsible for designing and administering our executive compensation
program. Decisions on how best to carry out these responsibilities are influenced by economic and industry conditions, current and future strategic goals, accounting requirements and tax laws,
evolving governance trends, as well as the practices of our peer competitors. Reducing a series of complicated decisions by independent directors who are intimately familiar with all relevant factors
to a single, after-the-fact, binary "yes" or "no" advisory vote is not an effective or efficient method to obtain shareholder input. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As further discussed in our "Compensation Discussion and Analysis," our Compensation Committee's goal is to use our compensation program to attract, reward and retain the talented
leaders necessary to enable our Company to succeed in the highly competitive market for talent, while maximizing shareholder returns. Our management team, which has been attracted, rewarded and
retained through our compensation program, has been a key driver in YUM's strong performance over both the short and long term. For example, as shown in the table below, YUM's investor total return
compares favorably against the S&amp;P&nbsp;500 Index, a group of nondurable consumer products companies that are used in setting benchmarks for our CEO's compensation (as further described on
page&nbsp;50), as well as a select group of global growth companies including The Coca-Cola Company, Kellogg Company, The Procter&nbsp;&amp; Gamble Company, PepsiCo,&nbsp;Inc.,
McDonald's Corporation, Colgate-Palmolive Company and Starbucks Corporation over one, five and ten years.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_investor_total_return(1)_comparison_(as_of_12/31/07)"> </A>
<A NAME="toc_ds17101_6"> </A>
<BR></FONT><FONT SIZE=2><B>Investor Total Return<SUP>(1)</SUP> Comparison (as of 12/31/07)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="66%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="67%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>1 Year</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>5 Year</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>10 Year</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>YUM! Brands,&nbsp;Inc.&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>32.2</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>26.9</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>18.6</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>S&amp;P&nbsp;500 Index</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5.5</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>12.8</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>Nondurable Consumer Products Group<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>-9.5</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>9.1</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6.9</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>Global Consumer Group<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>13.3</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15.2</FONT></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>8.2</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="67%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="4%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Compound
annual growth rate of stock price adjusted for stock splits and dividends. For the "Nondurable Consumer Products Group" and "Global Consumer Group," the total investor return
was calculated by taking the mean of the total investor returns for each of the individual companies included in the respective group.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Includes
only the publicly-traded companies included in the nondurable consumer products group discussed on page&nbsp;50. The group includes Anheuser-Busch Companies,&nbsp;Inc.,
AutoNation,&nbsp;Inc., AutoZone,&nbsp;Inc., Avon Products,&nbsp;Inc., Blockbuster&nbsp;Inc., The Coca-Cola Company, Colgate-Palmolive Company, CVS Corporation, Darden
Restaurants,&nbsp;Inc., Macy's,&nbsp;Inc., The Gap,&nbsp;Inc., General Mills,&nbsp;Inc., J.C. Penney Company,&nbsp;Inc., Kellogg Company, Kimberly-Clark Corporation, Kohl's Corporation,
Limited Brands, Lowe's Companies,&nbsp;Inc., Marriott International,&nbsp;Inc., McDonald's Corporation, Office Depot, OfficeMax Incorporated, Papa John's International, PepsiCo,&nbsp;Inc.,
Staples,&nbsp;Inc. and Walgreen&nbsp;Co.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Includes
The Coca-Cola Company, Kellogg Company, The Procter&nbsp;&amp; Gamble Company, PepsiCo,&nbsp;Inc., McDonald's Corporation, Colgate-Palmolive Company and Starbucks
Corporation. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
other words, we believe our compensation program has played an important role in driving strong shareholder returns. We do not believe it would benefit YUM or our shareholders to
alter this successful program at this time. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Above
all the Board, as fiduciaries for the shareholders, believes that an advisory vote on executive compensation is simply not in the best interests of YUM's shareholders. The Board is
not aware of any competitor who has adopted the advisory vote, and we understand that similar proposals were defeated at </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>37</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ds17101_1_38"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>the
vast majority of companies where they were proposed last year. Implementing an advisory vote at YUM&#151;but not at our competitors&#151;could create the impression among our
executives that their compensation opportunities could be limited or negatively affected, while those opportunities would not be so limited at our competitors. Thus, the advisory vote could put us at
a competitive disadvantage in attracting and retaining executive talent, and that would ultimately harm our business and negatively affect our shareholders. Until a consensus has been formed on the
advisory vote, implementation of this proposal is premature and potentially harmful as the advisory vote on executive compensation would not be applied uniformly. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also note that a similar proposal was submitted at our last Annual Meeting. We opposed the proposal last year, and a significant majority of shareholders voted against the proposal. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
careful consideration of the proposal, studying the pros and cons of the advisory vote and discussions with shareholders, the Board of Directors does not believe the proposal would
be in the best interest of YUM or our shareholders. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds17101_for_these_reasons,_we_recommen__for02712"> </A>
<A NAME="toc_ds17101_7"> </A>
<BR></FONT><FONT SIZE=2><B>FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the Annual Meeting. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>38</FONT></P>

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<BR></FONT><FONT SIZE=2><B>ITEM 7: SHAREHOLDER PROPOSAL<BR>  Relating to Food Supply Chain Security and Sustainability<BR>  (Item&nbsp;7 on the Proxy Card)    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Sisters of Charity of the Blessed Virgin Mary, the General Board of Pension and Health Benefits of the United Methodist Church, the Sisters of
St.&nbsp;Francis of Philadelphia and the School Sisters of Notre Dame Cooperative Investment Fund have advised us that they intend to present the following shareholder proposal at the annual
meeting. We will furnish the addresses and the share ownership of the proponents upon request. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>WHEREAS:  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nearly two-thirds of corporate executives worldwide surveyed by McKinsey&nbsp;&amp; Company said "their companies face a rising level of risk to their
ability to supply customers with goods and services cost effectively." Yet, the survey found </FONT></P>

<UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>[f]ew
executives are confident that their companies can manage these risks successfully and businesses are making surprisingly little use of some well-known
analytical tools and simple best practices that could help. </FONT></P>

</UL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><I>The McKinsey Quarterly </I></FONT><FONT SIZE=2>2007 Number&nbsp;1, pages&nbsp;10-11. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
global food production system faces numerous challenges: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Severe
droughts and increasing water scarcity in key agricultural regions linked to global warming;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Rising
prices for oil and petroleum-based agricultural inputs; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Competing
use of food crops for bio-fuels. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Several
dramatic events have undermined consumer confidence by highlighting weaknesses in the food safety system: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Closure
of Topps Meat&nbsp;Co., the largest U.S. manufacturer of frozen hamburger, following recall of 21.7&nbsp;million pounds of hamburger contaminated with
e-coli.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Nationwide
recall of spinach from California, which produces 74% of the U.S. spinach crop, due to e-coli contamination.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Contamination
of the long-grain rice supply in the southern United States with genetically engineered rice not approved for human consumption, leading Japan to
ban imports of U.S. long-grain rice and the EU to require testing of all U.S. rice shipments.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Sale
of poisoned pet food, tainted seafood and other products from China containing toxic ingredients. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;According
to a </FONT><FONT SIZE=2><I>Consumer Reports</I></FONT><FONT SIZE=2> survey, 92% of Americans want to know the country of origin for their food. </FONT> <FONT
SIZE=2><I>http://greenerchoices.org/products.cfm?product=crfood&amp;pcat=food</I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pesticide
residues on imported fruits and vegetables, which account for about one-third of U.S. consumption of these products, are "major and growing" contributors to dietary
risk. While U.S. farmers have adopted lower-risk use patterns, growers outside the U.S. continue using older, higher-risk pesticides. </FONT><FONT SIZE=2><I>Impacts of the
Food Quality Protection Act on Children's Exposures to Pesticides,</I></FONT><FONT SIZE=2> pages&nbsp;10-11 (2006). </FONT> <FONT SIZE=2><I>http://www.organiccenter.org/reportfiles/7452_Landrigan_AAAS%20Paper.pdf</I></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
UN Food and Agriculture Organization (FAO) warned that increasing industrialization of pig and poultry production "could lead to a higher risk of disease transmission from animals to
humans." The large </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>39</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>quantities
of animal waste contain many pathogens and the movement of the animals in international trade increases the likelihood pathogen transfers. The FAO cited the "recent emergence of contagious
human diseases from animals" such as Nipah in 1999, SARS in 2002 and the current epidemic of Highly Pathogenic Avian Influenza (HPAI). </FONT><FONT SIZE=2><I>Industrial Livestock Production and
Global Health Risks</I></FONT><FONT SIZE=2> (June 2007). </FONT><FONT SIZE=2><I>http://www.fao.org/ag/againfo/projects/en/pplpi/docarc/rep-hpai_
industrialisationrisks.pdf</I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED:</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Shareholders request that the Board of Directors report to shareholders by December, 2008 on measures taken to
ensure the long-term sustainability and security of our company's product supply chain including: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Strategies
to significantly reduce waste, energy and water use throughout the supply chain;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Resource
conservation programs and pollution prevention measures for the full product life-cycle;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Labeling
products for country of origin and presence of genetically modified ingredients; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Safety
testing and systems to ensure identity preservation and traceability "from farm to fork." </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
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<BR></FONT><FONT SIZE=2><B>MANAGEMENT STATEMENT IN OPPOSITION<BR>  TO SHAREHOLDER PROPOSAL    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?  </I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dv17101_the_board_of_directors_recomme__the02835"> </A>
<A NAME="toc_dv17101_3"> </A></FONT> <FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Company's position regarding the sustainability proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YUM is fully committed to ensuring that all of our facilities and supply chains, whether in the U.S. or any other country, are operated legally, ethically and
responsibly and in a manner that benefits the communities in which they are located. Our Worldwide Code of Conduct, summarized on our Web site, under the "Safety and Environmental Protection" section,
guides our activities around the world. It commits us to act as an environmentally responsible corporate citizen, to provide a safe and healthy work environment, and to seek methods that are both
socially responsible and economically sound. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are proud of our recent accomplishments in this area. For example, in 2006 we established a dedicated Corporate Social Responsibility role with the goal of reviewing and assessing our
global impacts in social, environmental and economic areas and developing strategies and initiatives in response. We will also be issuing our first global Corporate Social Responsibility report later
this year to address areas of achievement and opportunity relating to social, environmental and economic impact. In 2006, YUM also formed an Environmental Leadership Council whose goal is to identify,
design, test and deploy programs that drive measurable sustainability advances. Some of the aspects of
our business that this committee is addressing include: building material and design, energy conservation, energy procurement, waste, packaging and education. In addition, our U.S. restaurants have
reduced energy use since 2005 by 20%. Our entire system of restaurants is also in the process of implementing equipment and behavior changes and retrofits that address environmental impact, including
energy and water use, recycling of cardboard and paper products, recycling of spent grease from fryers, use of energy efficient equipment and better energy management systems. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to our suppliers, they are required to comply with the laws and regulations of the countries and localities in which they operate. To encourage compliance with all legal
requirements and ethical business practices, YUM has established a supplier code of conduct summarized on our web site at </FONT> <FONT SIZE=2><I>www.yum.com/responsibility/suppliercode.asp</I></FONT><FONT SIZE=2>. Suppliers are expected to conduct
audits and inspections to ensure compliance with YUM's Supplier Code of
Conduct and applicable laws and regulations. Failure to observe the Code of Conduct may subject the supplier to disciplinary action, which could include termination of the supplier relationship. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>40</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also recently enhanced our produce safety practices by requiring produce suppliers to implement additional field inspections, pathogen testing and pathogen elimination. We are
becoming a leader in produce safety and have sponsored summits with key growers, suppliers and users of produce as well as multiple joint produce safety meetings with industry leaders on testing and
best practices. We are also sharing information with the Center for Disease Control and the Food and Drug Administration and are constantly working with our suppliers to ensure that we are using the
best practices in the industry. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to labeling for the presence of genetically modified organisms, we track and trace the products used in our supply chain regardless of country of origin, and we follow all
laws regulations in the U.S. and throughout the world with respect to the use of genetically modified organisms. We do not believe that labeling the country of origin of our products is a necessary
method of reducing risk. With respect to safety testing, we require our suppliers to be able to trace products and ingredients within their supply chain. We currently conduct testing and evaluation of
suppliers and their products and pride ourselves on our stringent qualification system. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Why does the Company oppose this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We work hard to be a good corporate citizen and promote social, environmental and economic issues. We have been, and will continue to be, committed to upholding
and abiding by all laws and regulations that govern our operations, wherever we operate. We are equally committed to ensuring that our suppliers abide by all laws and regulations and established
industry practice that govern their business, wherever they operate, and we have developed the resources, through the purchasing cooperative of
which we are a member in the U.S., to independently evaluate supplier conduct. If it is brought to our attention that any supplier of YUM is in repeated violation of any employment law or regulation
governing their business, and corrective action is not taken, we would terminate our approval of this supplier. Moreover, we will continue our commitment to protecting the environment and enhancing
the quality of life in the communities in which we operate. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that creating the report required by the proposal would not be productive because our own business interests require that our food chain be both safe and sustainable, and we
have available the expertise to make those determinations internally. We are working to leverage these resources and improve in the areas discussed above. In sum, the proposed sustainability report
and review is unnecessary and would not result in any additional benefit to our shareholders or employees. The proposed report would be costly and time-intensive, and is duplicative of
many of our existing initiatives, policies and efforts. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the annual
meeting. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>41</FONT></P>

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</FONT>

<FONT SIZE=2><B>ITEM 8: SHAREHOLDER PROPOSAL<BR>  Relating to Animal Welfare<BR>  (Item&nbsp;8 on the Proxy Card)

    <BR>    </B></FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What am I voting on?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;People for the Ethical Treatment of Animals has advised us that they intend to present the following shareholder proposal at the Annual Meeting. We will furnish
the address and share ownership of the proponent upon request. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>RESOLVED</B></FONT><FONT SIZE=2> that shareholders encourage the Board to implement the March 2005 recommendations made by former members of KFC's animal welfare
council. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Supporting Statement  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As the following examples illustrate, there is a clear gap between KFC's animal welfare claims and the way that birds killed for its restaurants are abused: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Years
after KFC made assurances that its suppliers treat animals humanely, it was documented that workers at a KFC "Supplier of the Year" slaughterhouse were tearing live
birds' heads off, spitting tobacco in their eyes, slamming them against walls, and spray-painting their faces. In 2007, birds at another "Supplier of the Year" slaughterhouse were found being impaled
by broken equipment and scalded and crushed to death.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Every
KFC supplier in the U.S. kills birds by dumping and shackling them while they are still alive, paralyzing them with an electrically charged water bath, slitting their
throats while they're still conscious, and removing their feathers in tanks of scalding-hot water.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Birds
suffer throughout this process; their wings and legs are broken, workers regularly abuse them, and many are scalded to death (in 2002 alone, the U.S. Department of
Agriculture reported that 3.7&nbsp;million birds were scalded to death).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Five
members of KFC's touted animal welfare council have resigned in frustration. One former member, Adele Douglass, told the </FONT><FONT SIZE=2><I>Chicago
Tribune</I></FONT><FONT SIZE=2> that KFC "never had any meetings" and that she felt that she "was being used." Another, Dr.&nbsp;Ian Duncan, told the </FONT><FONT SIZE=2><I>Guelph
Mercury</I></FONT><FONT SIZE=2> that he suspected that "upper management didn't really think that animal welfare was important." </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PETA
would end its campaign, which shareholders can learn more about at </FONT><FONT SIZE=2><I>www.KentuckyFriedCruelty.com</I></FONT><FONT SIZE=2>, if KFC adopted the March&nbsp;11,
2005 recommendations made by its own former animal welfare advisors regarding the breeding, gathering, and slaughtering of birds: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Adopting
these recommendations would harmonize KFC's claims with its actions and result in numerous economic benefits, including improved product quality and shelf life and
reduced carcass contamination.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
longer that KFC refuses to eliminate the very worst abuses that its birds suffer, the more that its brand image will become associated with cruelty to animals. More than
12,000 protests have occurred at KFC restaurants worldwide since January 2003, and notable figures like Sir Paul McCartney, The Rev. Al Sharpton, Pamela Anderson, and His Holiness the Dalai Lama have
publicly encouraged people to boycott KFC. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yum!
has not shown its shareholders or the public any evidence that it has conducted a meaningful analysis aimed at adopting any or all of recommendations made by former members of KFC's
Animal Welfare Advisory Council. Accordingly, we urge shareholders to support this proposal. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>42</FONT></P>

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<BR></FONT><FONT SIZE=2><B>MANAGEMENT STATEMENT IN OPPOSITION<BR>  TO SHAREHOLDER PROPOSAL    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B><I>What is the recommendation of the Board of Directors?  </I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is the Company's position regarding this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YUM, as a major purchaser of food products, has the opportunity and responsibility to influence the way animals supplied to us are treated. We take that
responsibility very seriously, and we are monitoring our suppliers on an ongoing basis to determine whether our suppliers are using humane procedures for caring for and handling animals they supply to
us. As a consequence, it is our goal to only deal with suppliers who promise to maintain our standards and share our commitment to animal welfare. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have a track record of leadership in animal welfare. For example, we have developed the YUM! Brands Animal Welfare Guiding Principles and have expanded the KFC Animal Welfare Advisory
Council to provide leadership in the animal welfare area and in our commitment to animal welfare. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
help ensure that our suppliers meet our animal welfare objectives, we adopted the YUM! Brands Animal Welfare Guiding Principles and the KFC Poultry Welfare Guidelines (collectively
the "Guiding Principles"). The Guiding Principles express our goal to deal with suppliers that are committed to the raising, transportation and slaughter of poultry in a manner that is free of
cruelty, abuse and neglect. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Guiding Principles are applicable to all YUM poultry suppliers across the United States (these are the same suppliers that supply poultry to our competitors). We are also looking
into how these principles can be applied internationally. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
stated in the Guiding Principles, the Company, together with the KFC Animal Welfare Advisory Council, works with its suppliers to develop systems to monitor and assess the
effectiveness of suppliers' poultry handling practices. The KFC Animal Welfare Advisory Council consists of experts in poultry physiology, poultry genetics, animal behavior and veterinarians. In 2007,
the KFC Animal Welfare Advisory Council conducted a review and update of the audit instruments used to assess the welfare of broiler chickens, and completed a survey of primary breeder chickens to
review the genetic selection process. The KFC Animal Welfare Advisory Committee also requested a series of nine scientific reviews of broiler welfare audit points and policy by the experts of the
American Association of Avian Pathologists to provide additional guidance. Their reviews are expected to be completed in 2008. The Company is working with the Professional Animal Auditor Certification
Organization,&nbsp;Inc. ("PAACO") to further enhance the audit process and includes a PAACO certified auditor on staff. We operate in over 100 countries and territories, and we comply with all
national, state and local laws and regulations regarding the handling of poultry in those countries. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Why does the Company oppose the proposal?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our commitment, leadership and results are well established and recognized within the industry. We work hard to be a good corporate citizen and are strong
advocates of good animal handling practices. Our policies are designed to help to achieve humane treatment of animals. We have been, and will continue to be, committed to upholding and abiding by the
principles we have set. We monitor our suppliers for compliance and have recently expanded our monitoring efforts through plant and farm level audits. More information regarding our animal welfare
program can be found on our Web site at </FONT><FONT SIZE=2><I>www.yum.com/responsibility/animalwelfare.asp</I></FONT><FONT SIZE=2> or </FONT> <FONT SIZE=2><I>www.kfc.com/about/animalwelfare.asp</I></FONT><FONT SIZE=2>. We believe that the proposed
animal welfare report and review is unnecessary and would not result in any additional
benefit to our shareholders or employees. In fact, much of what is alleged in the supporting statement to the shareholder proposal is either inaccurate or significantly outdated.

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>43</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
similar proposal was submitted at our last Annual Meeting. We opposed the proposal last year, and shareholders overwhelmingly rejected the proposal. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE <U>AGAINST</U> THIS PROPOSAL.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What vote is required to approve this proposal?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote at the Annual
Meeting. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
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<A NAME="toc_dv17101_6"> </A>
<BR></FONT><FONT SIZE=2><B>STOCK OWNERSHIP INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who are our largest shareholders?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This table shows ownership information for each YUM shareholder known by our management to be the owner of 5% or more of YUM common stock. This information is
presented as of December&nbsp;31, 2007, and is based on stock ownership reports on Schedule&nbsp;13G filed by each of these shareholders with the SEC and provided to us. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="86%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="64%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name&nbsp;and&nbsp;Address&nbsp;of&nbsp;Beneficial&nbsp;Owner<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="19%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number&nbsp;of&nbsp;Shares<BR>
Beneficially&nbsp;Owned</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Percent&nbsp;of<BR>
Class</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="64%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>Capital Research Global Investors<BR>
333 South Hope Street<BR>
Los Angeles, California 90071</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>35,262,000</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><SUP>(1)</SUP></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>6.9</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="64%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
Southeastern Asset Management, Inc<BR>
6410 Poplar Avenue, Suite&nbsp;900<BR>
Memphis, Tennessee 38119</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
34,119,308</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR><SUP>(2)</SUP></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
6.7</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="64%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
Marsico Capital Management,&nbsp;LLC<BR>
1200 17<SUP>th</SUP>&nbsp;Street, Suite&nbsp;1600<BR>
Denver, Colorado 80202</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
29,570,059</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR><SUP>(3)</SUP></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
5.8</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>%</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
filing indicates sole voting power for 18,456,000 shares, shared voting power for no shares, sole dispositive power for 35,262,000 shares, and shared dispositive power for no
shares.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
filing indicates sole voting power for 14,101,732 shares, shared voting power for 17,894,252 shares, no voting power for 2,123,324 shares, sole dispositive power for 16,199,056
shares, shared dispositive power for 17,894,252 shares and no dispositive power for 26,000 shares.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
filing indicates sole voting power of 25,338,656 shares, shared voting power for no shares, sole dispositive power 29,570,059 shares, and shared dispositive power for no shares. </FONT></DD></DL>

<P style="font-family:times;">


<FONT SIZE=2><B><I>How much YUM common stock is owned by our directors, director nominees and executive officers?

  </I></B></FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This table shows the beneficial ownership of YUM common stock as of December&nbsp;31, 2007 by </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>each
of our nominees for election as directors,

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>each
of the executive officers named in the Summary Compensation Table on page&nbsp;65, and


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>all
directors, director nominees and executive officers as a group.

 </FONT></DD></DL>
</UL>
<BR>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless we note otherwise, each of the following persons and their family members has sole voting and investment power with respect to the shares of common stock beneficially owned by him
or her. None of the persons in this table hold in excess of one percent of the outstanding YUM common stock, except for Mr.&nbsp;Novak who beneficially owns approximately 1.2%. Directors, director
nominees and executive officers as a group beneficially own approximately 2.9%. Our internal stock ownership guidelines call for the

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>44</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dv17101_1_45"> </A>

<P style="font-family:times;"><FONT SIZE=2>


Chairman to own 336,000 shares of YUM common stock or stock equivalents. Guidelines for our other named executive officers (other than Mr.&nbsp;Hearl) call for them to own 50,000 shares of YUM
common stock or stock equivalents within five years following their appointment to their current position. Other executive officers are required to own 24,000&nbsp;shares or share equivalents.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of shares beneficially owned by each director, director nominee and executive officer is determined under rules of the SEC, and the information is not necessarily indicative
of beneficial ownership for any other purpose. Under these rules, beneficial ownership includes any shares as to which the individual has either sole or shared voting power or investment power and
also any shares that the individual has the right to acquire within 60&nbsp;days through the exercise of any stock option or other right.

 </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="88%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="21%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number&nbsp;of&nbsp;Shares<BR>
Beneficially&nbsp;Owned(1)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Deferral<BR>
Plans(2)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>David C. Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,580,805</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,171,302</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,752,107</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>David W. Dorman</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>30,997</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>30,997</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Massimo Ferragamo</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>80,952</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>43,130</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>124,082</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>J. David Grissom</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>101,492</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,055</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>103,547</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Bonnie G. Hill</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>23,216</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11,961</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>35,177</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Robert Holland, Jr.&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>87,323</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>12,168</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>99,491</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Kenneth G. Langone</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>650,262</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(5)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11,818</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>662,080</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Jonathan Linen</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22,954</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22,954</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Thomas C. Nelson</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>13,220</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>13,220</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Thomas M. Ryan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>47,209</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,712</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>48,921</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Jackie Trujillo</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>58,449</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>58,449</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Robert D. Walter</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Richard T. Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>711,491</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(6)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,284</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>721,775</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Jing-Shyh S. Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,382,643</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,382,643</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Graham D. Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,254,506</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(7)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>77,513</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,332,019</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>Peter R. Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,242,086</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,092</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,267,178</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%" style="font-family:times;"><FONT SIZE=2>All Directors, Director Nominees and Executive Officers as a Group (24&nbsp;persons)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>14,735,351</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,495,131</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>16,230,482</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
amounts shown for Messrs.&nbsp;Novak, Carucci, Su, Allan and Hearl, non-employee directors and the group of all directors and executive officers include beneficial
ownership of the following shares that may be acquired within 60&nbsp;days pursuant to stock options and stock appreciation rights awarded under our employee or director incentive compensation
plans: </FONT></DD></DL>
<BR>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=15 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="20%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Novak</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Carucci</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Su</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Allan</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Hearl</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Non-Employee Directors</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All<BR>
Directors&nbsp;and<BR>
Executive<BR>
Officers<BR>
as&nbsp;a&nbsp;Group</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="20%" style="font-family:times;"><FONT SIZE=2>Shares which may be acquired within 60&nbsp;days pursuant to stock options and stock appreciation rights</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,499,167</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>700,903</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,223,293</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,163,212</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,182,746</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>295,608</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>13,447,972</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>These
amounts reflect units denominated as common stock equivalents held in deferred compensation accounts for each of the named persons under our Directors Deferred Compensation Plan
or our Executive Income Deferral Program. Amounts payable under these plans to the named executive officers and other executive officers will be paid in shares of YUM common stock at </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>45</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dv17101_1_46"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=2>termination
of employment or within 60&nbsp;days if the executive so elected or in the case of a non-employee director, when the non-employee director leaves the Board. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=2>In
addition to the amounts reflected in this column, listed below are units denominated as common stock equivalents held in deferred compensation accounts
which become payable at a time (a)&nbsp;other than at termination of employment or (b)&nbsp;after February&nbsp;29, 2008. Pursuant to the rules of the SEC, these amounts may not be included in
the table. </FONT></DD></DL>
<BR>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="74%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Novak</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Carucci</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Su</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Allan</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Hearl</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="16%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All<BR>
Directors&nbsp;and<BR>
Executive<BR>
Officers<BR>
as&nbsp;a&nbsp;Group</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>610,855</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>71,142</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>69,458</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>81,694</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>15,228</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>1,533,186</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>These
amounts include the following shares held pursuant to YUM's 401(k) Plan which will be subject to the voting direction of each named person at the annual meeting:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Novak,
29,184 shares

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>all
directors, director nominees and executive officers as a group, 30,701 shares.

<BR><BR></FONT></DD></DL>
</DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>This
amount includes 26,000 shares held in IRA accounts and 54,035 shares held in a margin account.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>This
amount includes 600,004 shares held in a margin account.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(6)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>This
amount includes 6,000 shares held in a trust.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(7)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>67,482
of Mr.&nbsp;Allan's shares are pledged. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2><B>Section&nbsp;16(a) Beneficial Ownership Reporting Compliance  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16(a) of the Securities Exchange Act of 1934, as amended, requires our directors, executive officers and persons who own more than 10% of the
outstanding shares of YUM common stock to file with the SEC reports of their ownership and changes in their ownership of YUM common stock. Directors, executive officers and
greater-than-ten percent shareholders are also required to furnish YUM with copies of all ownership reports they file with the SEC. To our knowledge, based solely on a review
of the copies of such reports furnished to YUM and representations that no other reports were required, all of our directors and executive officers complied with all Section&nbsp;16(a) filing
requirements during fiscal 2007. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>46</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dw17101_executive_compensation__dw102521"> </A>
<A NAME="toc_dw17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXECUTIVE COMPENSATION    <BR>    <BR>    Compensation Discussion and Analysis    <BR>    </B></FONT></P>


<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this compensation discussion and analysis, we discuss our compensation objectives, our compensation decisions and the rationale behind those decisions in
connection with 2007 compensation of the officers named in the Summary Compensation Table (the "named executive officers"), which begins at page&nbsp;65. The named executive officers discussed in
this section are: David C. Novak, Chief Executive Officer and Chairman, Richard T. Carucci, Chief Financial Officer, Jing-Shyh S. Su, President&#151;China Division, Graham D. Allan,
President&#151;Yum Restaurants International and Peter Hearl, Chief Operating Officer and Chief Development Officer.


</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B>What is YUM's Compensation Philosophy?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The philosophy underlying our compensation program, which the Compensation Committee reviews annually, is to: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>reward
performance and avoid entitlement,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>pay
our restaurant general managers and executives like owners,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>design
pay programs at all levels that align team and individual performance, customer satisfaction and shareholder return, and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>emphasize
long-term incentive compensation. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><B>What are the Objectives of YUM's Compensation Program?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The objectives of our executive compensation program are to: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>attract
and retain highly qualified employees through competitive compensation and benefit programs,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>reward
our employees for personal contributions that grow the business, and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>maximize
shareholder returns. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2><B>Who Designs and Administers YUM's Compensation Programs?  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee of the Board is responsible for designing and administering our executive compensation programs. This Committee is composed entirely
of independent directors. The Compensation Committee operates pursuant to its charter which can be found at </FONT><FONT SIZE=2><I>www.yum.com/governance/committee.asp</I></FONT><FONT SIZE=2>. The
charter is reviewed annually by the Compensation Committee and was last revised in 2004. The Compensation Committee determines how many times it will meet, which must be at least three times per year.
In 2007, the Compensation Committee met four times, including two executive sessions. In consultation with the Company's Chief People Officer, the Compensation Committee sets a calendar for each year
and determines agenda items for each meeting.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to designing and administering our compensation programs and retirement plans and policies, our Compensation Committee reviews and approves all compensation decisions
relating to the Company's Senior Leadership Team, including those for our CEO and the named executive officers. In addition, the Board of Directors reviews the annual compensation package of our CEO. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Compensation Committee meets with our CEO at least annually to review the performance of the other Senior Leadership Team members, receive the recommendations of the CEO on Senior
Leadership Team compensation and determine their annual compensation packages. This meeting includes an in-depth review by the CEO of the performance of each Senior Leadership Team member
who reports directly to our CEO.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>47</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dw17101_1_48"> </A>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
members of our Senior Leadership Team include our CEO, Brand and Division Presidents, Chief Operating Officers at each brand or operating division, and the senior staff employees who
report to our CEO, including our President of U.S. Brand Building, Chief Financial Officer, Chief Operating and Development Officer, Chief People Officer, General Counsel and Public Affairs Officer. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>What is the Role of the Compensation Committee's Independent Consultant?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As stated in its charter, the Compensation Committee may retain outside compensation consultants, lawyers or other advisors. Since 2005, the Compensation
Committee has retained an independent consultant, Hewitt Associates,&nbsp;Inc., to advise it on certain compensation matters. For 2007, the Compensation Committee told Hewitt that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>they
were to act independently of management and at the direction of the Compensation Committee,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>their
ongoing engagement would be determined by the Compensation Committee,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>they
were to inform the Compensation Committee of relevant trends and regulatory developments, and

<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'>

<FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>they
were to provide compensation comparisons based on information that is derived from comparable businesses of a similar size to us with respect to compensation of the
chief executive


</FONT>



<P style="font-family:times;"><FONT SIZE=2>officer
at other companies and assist the Committee in its determination of the annual compensation package for our CEO. Hewitt does not assist the Committee with respect to compensation decisions of
the other members of our Senior Leadership Team.

 </FONT></P>


</DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hewitt
does not provide any other services to us, although, we do purchase Hewitt survey data for benchmarking executive and manager compensation, as described below. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>What is the Role of Comparative Compensation Data?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Compensation Committee believes it is important to understand how our compensation levels compare to compensation levels for similarly situated executives at
companies that we consider to be our peers. To do this, on-line compensation data is obtained from two consulting firms, Towers Perrin and Hewitt Associates. This data is used as a frame
of reference for establishing compensation targets for base salary, annual incentives and long-term incentives for the Senior Leadership Team below our CEO. This method is often referred
to as "benchmarking." </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The on-line benchmarking data from the consulting firms' surveys ("survey data") reflect compensation practices of general industry companies with annual revenues which are
similar to ours for those of our executives with Company-wide responsibilities and with annual revenues similar in size to each brand or division, for those of our executives with single
brand or division responsibilities. The Compensation Committee believes that targeting compensation in this manner appropriately reflects the labor market for our executives.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee uses a benchmark as a point of reference for measurement. Benchmarks, however, are not the determinative factor for our executives' compensation, and they do not supplant
the analyses of the individual performance of the executive officers that are considered when making compensation decisions.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because
the comparative compensation information is just one of several factors that are used in the setting of executive compensation, the Compensation Committee has discretion in
determining the nature and extent of its use. Further, given the limitations associated with comparative pay information for setting individual executive compensation, the Committee may elect not to
use the comparative compensation information at all in the course of making specific compensation decisions. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>48</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dw17101_1_49"> </A>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For our named executive officers other than our CEO, the Committee has set target percentiles for salary, bonus and long term incentives, and they are discussed on page&nbsp;51. The
Committee does not set target percentiles with respect to target total compensation for our named executive officers other than our CEO (see page&nbsp;60 for a discussion of Mr.&nbsp;Novak's
target compensation). With the exception of our CEO's compensation, we do not measure the percentile ranking of compensation actually earned since these amounts are designed to be a function of
results and, therefore, consistent with our pay-for-performance approach to executive compensation.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our objective is to provide pay </FONT><FONT SIZE=2><I>opportunities</I></FONT><FONT SIZE=2> to our named executive officers that are consistent with our pay philosophy and
correspondingly with the market compensation for comparable positions at the benchmark companies. This is an important distinction from actual pay. Accordingly, to the extent the amount of any </FONT> <FONT SIZE=2><I>actual</I></FONT><FONT SIZE=2> or
</FONT><FONT SIZE=2><I>earned</I></FONT><FONT SIZE=2> element of compensation, in the case of our named executive officers other than our
CEO, and the amount of the </FONT><FONT SIZE=2><I>actual</I></FONT><FONT SIZE=2> or </FONT><FONT SIZE=2><I>earned</I></FONT><FONT SIZE=2> total compensation, in the case of our CEO, varies from its
targeted compensation percentile, this will be a function of performance of the individual and/or the Company.

 </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Comparative Compensation Data&#151;Messrs.&nbsp;Carucci, Su, Allan and Hearl  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While Company revenues before franchising and license fees were approximately $8.4&nbsp;billion in 2006, the Compensation Committee determined that, similar to
the rationale for Mr.&nbsp;Novak, which is discussed later in this compensation discussion and analysis, it was appropriate to use data for companies with larger revenues. For Mr.&nbsp;Carucci,
our Chief Financial Officer (with responsibilities across all of YUM), the Towers Perrin survey data for the 59 companies in the survey data for the job surveyed reflects companies with annual
revenues of $10 to $20&nbsp;billion with median revenues of $13&nbsp;billion. The Committee determined that this was appropriate because of the added complexity of managing a company with both
company and franchise owned stores and, in particular, managing sales growth and overall operations improvements for the entire franchise system. In this regard, the Compensation Committee added 25%
of our franchisee and licensee sales to Company revenues. This meant that the Company, when considering franchisee sales, would be viewed as having revenues of $14&nbsp;billion. Specifically, this
amount was determined by adding 2006 Company revenues before franchise and license royalties of $8.4&nbsp;billion and 25% of franchisee and licensee sales (for which the Company derives revenues in
the form of royalties) of approximately $22.7&nbsp;billion.

 </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
Messrs.&nbsp;Su and Allan (with responsibilities in 2007 primarily for an individual division/brand), the Hewitt survey data for the 78 companies in the survey data for the job
surveyed reflects companies with annual revenues of $2.5 to $5&nbsp;billion with median revenues of $3.5&nbsp;billion, and the Towers Perrin survey data for the 67 companies in the survey data for
the job surveyed reflects companies with group annual revenues of more than $2&nbsp;billion with median revenues of $4.1&nbsp;billion. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee determined that the survey data should not be used for Mr.&nbsp;Hearl because his role as Chief Operating and Development Officer covered two separate areas: operations
and development. As
a result of this dual role, the Committee determined that the survey data would not provide an appropriate comparison. </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Companies included in the Survey Data for Messrs.&nbsp;Carucci, Su and Allan  </I></B></FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with SEC rules, a list of the companies included in the survey data is attached at Appendices 2 and 3. Consistent with prior years, the Compensation
Committee did not consider compensation data from any specific company in the survey data. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appendix&nbsp;2
sets forth the companies with annual revenues of $10 to $20&nbsp;billion from the Towers Perrin survey used as a benchmark for Mr.&nbsp;Carucci's job.
Appendix&nbsp;3 sets forth the companies in the Hewitt survey with annual revenues of $2.5 to 5.0&nbsp;billion used as benchmarks for Messrs.&nbsp;Su's and Allan's jobs. Towers Perrin did not
make the list of companies with revenues greater than $2&nbsp;billion available with respect to the survey data also used for Messrs.&nbsp;Su's and Allan's jobs. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>49</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dw17101_1_50"> </A>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
providing survey data for the job surveyed, the consulting firms draw data from some but not all of the companies in the list. This is because some companies in the group may not
have a matching or similar job to the job being surveyed. The consulting firm data does not disclose the name of the companies that comprise the smaller group of companies for purposes of each job
surveyed. Therefore, we disclose in Appendices&nbsp;2 and 3 the names of all of the companies in the survey group and have disclosed in the paragraphs above the number of companies used and median
revenues of those companies in the survey data for the job surveyed for each executive. </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Comparative Compensation Data&#151;Mr.&nbsp;Novak  </I></B></FONT></P>


</UL>

<P style="font-family:times;"><FONT SIZE=2>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to reviewing and setting 2007 compensation for Mr.&nbsp;Novak, the Compensation Committee used data from Hewitt Associates for a select group of
nondurable consumer products companies. Before selecting this group, the Committee considered a general industry group of companies and a proxy-based group of quick service restaurants and other
retailers. The Committee determined that the nondurable consumer products group represented the best market reference point, noting that the median annual revenues for the group was $14&nbsp;billion
compared to the Company revenues of $14&nbsp;billion (as adjusted to consider franchisee sales as described on page&nbsp;49). The Committee determined, based on





input from Hewitt, that it was appropriate to use data for companies with larger revenues with respect to Mr.&nbsp;Novak because of the added complexity of managing a company with both company and
franchise owned stores and, in particular, managing sales growth and overall operations improvements for the entire franchise system. In this regard, the Compensation Committee added 25% of franchisee
and licensee sales to Company revenues in the same manner described above for Mr.&nbsp;Carucci. Hewitt Associates provided a comprehensive review for the Compensation Committee using data from this
survey data base. The companies comprising this nondurable consumer products group are:

 </FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Albertsons&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Dollar General Corporation</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Marriott International,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Anheuser-Busch Companies,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Federated Department Stores,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Mars, Incorporated</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>AutoNation,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>The Gap,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>McDonald's Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>AutoZone,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>General Mills,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Meijer,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Avon Products,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>J.C. Penney Company,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Office Depot</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>CDW Corporation</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Kellogg Company</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>OfficeMax Incorporated</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>The Coca-Cola Company</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Kimberly-Clark Corporation</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>PepsiCo,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="32%" ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>Colgate-Palmolive Company</FONT></TD>
<TD WIDTH="1%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>Kohl's Corporation</FONT></TD>
<TD WIDTH="1%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>Staples,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>CVS Corporation</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Limited Brands</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Walgreen&nbsp;Co.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Darden Restaurants,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Lowe's Companies,&nbsp;Inc.</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2><B>How do we Align Compensation and Company Performance?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As noted above, a key objective of our Compensation Programs is to maximize shareholder returns. To do this, our programs reinforce
pay-for-performance principles by aligning the payouts from executive compensation programs with the results of the Company's business and financial performance. More
specifically, each executive officer's annual incentive compensation depends on the degree to which the company achieves its business and financial goals and the degree to which each executive officer
meets his or her individual goals. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incentives
constitute a significant portion of total compensation. In accordance with our compensation philosophy described above, our incentives consist of annual incentive
compensation, which are short-term in nature, and stock appreciation rights, which have a longer-term focus. There is no pre-established policy or target for the
allocation between either cash and non-cash or short-term and long-term incentive compensation. Rather, our Compensation Committee reviews information provided by
management in the case of Senior Leadership Team members other than our CEO, and Hewitt Associates in the case of our CEO, to determine the appropriate level and mix of incentive compensation.
Historically, and in fiscal 2007, the Compensation Committee granted a majority of total compensation to </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>50</FONT></P>

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<A NAME="page_dw17101_1_51"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>our
executive officers in the form of short-term and long-term incentive compensation. For 2008, the Committee has adopted guidelines for our top executives' total compensation
at 30% fixed compensation (representing base salary) and 70% variable compensation (representing annual incentive and long-term incentive compensation). </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B>What are the Elements of Compensation at YUM?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For 2007, the principal components of compensation for named executive officers were: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Base
salary;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Performance-based
annual incentive compensation;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Long-term
incentive compensation;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Retirement
benefits; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Perquisites.
</FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These elements have been in place since the Company was spun off from PepsiCo in 1997. We determine all elements of compensation annually at the same time, currently in January, to allow
us to take into consideration all of the elements at the time that determinations are made.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the named executive officers other than Mr.&nbsp;Novak, we target the elements of our compensation program as follows: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Base
salary at the 50<SUP>th</SUP>&nbsp;percentile; however, beginning in 2007, in the case of employees expected to make significant contributions in current and
future positions and who would be considered a critical loss if they left the Company, we target the 75<SUP>th</SUP>&nbsp;percentile for base salary.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Performance-based
annual incentive compensation at the 75<SUP>th</SUP>&nbsp;percentile.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Long-term
incentives at the 50<SUP>th</SUP>&nbsp;percentile to emphasize variable pay and sustained performance. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee does not utilize percentile rankings with respect to each element of Mr.&nbsp;Novak's compensation. Mr.&nbsp;Novak's total compensation target is discussed at
page&nbsp;60.

</FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Base Salary  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal purpose of base salary is to compensate our executive officers for their primary roles and responsibilities and to provide a stable level of annual
compensation. With the exception of Mr.&nbsp;Hearl, market data from the survey group was considered in determining base salary targets for named executive officers based on each executive officer's
position and responsibility. An executive officer's actual salary relative to this competitive salary range varies based on the level of his or her responsibility, experience, individual performance
and future potential. Specific salary increases take into account these factors and the current market for management talent. Our Compensation Committee reviews each executive officer's salary and
performance annually. As discussed at page&nbsp;49, the Committee does not measure or review the percentile ranking of actual salary decisions.

 </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Messrs.&nbsp;Su's
and Allan's 2007 salary increase placed their base salaries significantly above the 75<SUP>th</SUP>&nbsp;percentile. The Committee chose to pay these two
executives at this level based on the Committee's subjective assessment of the results they produced for the Company and the importance of their leadership to their divisions. Mr.&nbsp;Carucci's
salary was set at the 50<SUP>th</SUP>&nbsp;percentile for 2007. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee determined that Mr.&nbsp;Hearl's salary should be set based on the performance of Pizza Hut in 2006 when Mr.&nbsp;Hearl was Pizza Hut's president. As noted above, the
Committee did not believe it was appropriate to use survey data for Mr.&nbsp;Hearl's compensation in light of his dual role as Chief Operating and Development Officer.


</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>51</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dw17101_1_52"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Annual Incentive Compensation  </I></B></FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our annual incentive compensation program is known as the YUM! Leaders' Bonus program. It is a cash based, pay-for-performance annual
incentive plan that applies to over 1,200 above restaurant leaders in the Company. The principal purpose of annual incentive compensation is to encourage and reward strong individual and team
performance that drives shareholder value. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual
incentive payments are based on the achievement of certain Company-wide or business unit financial objectives, other corporate objectives, as well as the achievement
of individual
performance objectives. The criteria for annual incentive compensation are established during the compensation planning period during which the criteria are reviewed with and approved by the
Compensation Committee to ensure that the goals are in concert with the unique strategic issues facing the Company. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
2007, bonus opportunities were designed to reward superior performance by providing for payments above target for superior performance, with no payment unless a threshold percentage
of the goal was achieved. We believe this aligns our executive officers' interests with the Company's interests, and motivates our executive officers to meet their goals and ensure that the Company
meets its financial, operational and strategic objectives. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
formula for our annual incentive compensation is as follows: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Base Salary</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&times;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Annual Target Bonus<BR>
Percentage</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&times;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Team<BR>
Performance Factor</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&times;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Individual<BR>
Performance Factor</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>=</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Bonus Payout<BR>
Award</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As shown above, each named executive officer's annual bonus is calculated by multiplying the named executive officer's base salary by his annual target bonus percentage and then by the
team performance factor and individual performance factor. The minimum team performance factor is 0% and the maximum is 200%. The minimum individual performance factor is 0% and the maximum is 150%.
The total annual bonus potential ranges from 0&nbsp;-&nbsp;300% of the target award. Applying these ranges under the YUM! Leader's Bonus Program to the named executive officer's 2007
salaries determined the threshold, target and maximum aggregate awards potential under the program for 2007, which are reported in dollars in the Grants of Plan-Based Awards table on
page&nbsp;70.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual Target Bonus Percentage.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The philosophy for our annual incentive compensation is to target the Annual Target Bonus
Percentage at the 75<SUP>th</SUP>&nbsp;percentile of the companies in the survey data. In addition to the survey data, these targets were derived by the Compensation Committee's consideration of
an executive's performance, tenure in position and the compensation of the executive's peers within the Company and the executives' expected contribution to the Company. The "Annual Target Bonus
Percentage" for each named executive officer for 2007 was: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>David C. Novak</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Richard T. Carucci</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Jing-Shyh S. Su</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Graham D. Allan</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Peter Hearl</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>140%</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>85%</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>90%</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>90%</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>85%</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee increased the target bonus percentage for Messrs' Carucci, Su and Allan by 5% for 2007 as compared to 2006. The Committee noted these target bonus percentages for 2007,
when compared to the survey data, were above the 75<SUP>th</SUP>&nbsp;percentile for Messrs.&nbsp;Su and Allan and below the 75<SUP>th</SUP>&nbsp;percentile for Mr.&nbsp;Carucci. The
Committee did not consider the actual percentile above or below the 75<SUP>th</SUP>&nbsp;percentile when making its final target bonus percentages decision. Rather, it considered
Messrs.&nbsp;Su's, Allan's and Carucci's strong performance in continuing to lead their respective units of YUM and determined that an increase in each of their target bonus percentage was
appropriate. Mr.&nbsp;Hearl's target bonus percentage for 2007 was not changed as compared to 2006. The Committee determined that this percentage was appropriate for Mr.&nbsp;Hearl's role.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>52</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Factors.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To determine the performance factors for each named executive officer, the Compensation Committee
reviews actual performance against pre-established consolidated or relevant operating Company measures and targets ("Team Factor") and individual performance measures and targets
("Individual Factor"). </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Team Factor.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;For 2007, the Compensation Committee determined each executive's Team Factor, based on recommendations from
management and consistent with prior years, by establishing the business team performance measures, targets and weights (these are the same measures, targets and weights set for all of our top 1,200
above restaurant leaders) and reviewing actual performance against these measures and targets as set forth in the chart below for the named executive officers. The targets were developed through the
Company's annual financial planning process, in which we assessed the future operating environment and built projections of anticipated results. Brand and division targets may be adjusted during the
year when doing so is consistent with the objectives and intent at the time the targets were originally set. In 2007, division and brand operating profit growth targets were adjusted to reflect
certain YUM approved investments and restaurant divestitures. We believe these measures and targets are key factors to drive individual and team performance, which will result in increased shareholder
value over the long term. In particular, we believe these measures align employee goals with the Company's and individual brand's and division's current year objectives to grow earnings and sales,
develop new restaurants and increase customer satisfaction. The measures also serve as effective motivation because they are easy to track and clearly understood by employees. When setting targets for
each specific Team Performance Measure, the Company takes into account overall business goals and structures the target to motivate achievement of desired performance consistent with broader
shareholder commitments such as earnings per share growth, return on investment and cash flow. These Team Performance Targets use the same measures that we disclose from time to time to our investors
and may be slightly above or below disclosed guidance when determined by our Compensation Committee to be appropriate.

 </FONT>

</P>

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<TABLE WIDTH="88%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="31%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team<BR>
Performance Measures</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="21%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team<BR>
Performance Targets</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Weights</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Actual<BR>
Performance</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>David C. Novak,<BR>
Richard T. Carucci and Peter Hearl (Consolidated Business Performance)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Earnings Per Share Growth<BR>
System Sales Growth<BR>
System Net New Restaurant Builds<BR>
Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=2>10%<BR>
4.5%<BR>
600<BR>
60%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:times;"><FONT SIZE=2>50<BR>
20<BR>
20<BR>
10</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>15.2%<BR>
5.6%<BR>
717<BR>
59%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Jing-Shyh S. Su<BR>
(China Division)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Division Operating Profit Growth<BR>
System Sales Growth<BR>
System Gross New Restaurant Builds<BR>
Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=2>19%<BR>
17%<BR>
400<BR>
62%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:times;"><FONT SIZE=2>50<BR>
20<BR>
20<BR>
10</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>23%<BR>
24.1%<BR>
502<BR>
67.5%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Graham D. Allan<BR>
(International Division)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="31%" style="font-family:times;"><FONT SIZE=2>Division Operating Profit Growth<BR>
System Sales Growth<BR>
Net System New Restaurant Builds<BR>
Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=2>10%<BR>
5%<BR>
385<BR>
62%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:times;"><FONT SIZE=2>50<BR>
20<BR>
20<BR>
10</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>12.5%<BR>
10%<BR>
449<BR>
64%</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As indicated by the weights assigned to each performance measure, the most significant performance measures are diluted earnings per share ("EPS") growth and division operating profit
growth. EPS growth is calculated consistent with our financial statements. Division operating profit growth, as well as system sales growth for the entire Company and each division or brand, is based
on actual year over year growth and adjusted for the impact of foreign currency translation. In the case of system sales growth, we include the results of all restaurants, including Company-owned,
franchised and licensed restaurants. In the case of customer satisfaction, the performance target represents the percentage of total system stores that must achieve a 100% customer satisfaction score.
For Messrs.&nbsp;Novak, Carucci and Hearl, the customer

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>53</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<BR>

<P style="font-family:times;"><FONT SIZE=2>


satisfaction goal was calculated by averaging the weighted targets of our US Brands, the China Division and the International Division.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To determine the Team Factor, the actual performance for each Team Performance Measure is compared to the "leverage formula" set for that measure to determine the percentage factor for
that measure. For each Team Performance Measure, each percentage is applied to the weighting given to the corresponding performance measure. These weighted percentages are then added together to
obtain the final actual Team Factor for the year. The leverage formula for each Team Performance Measure magnifies the potential impact that performance above or below the Target Performance Measure
will have on the calculation of annual incentive compensation. This "leveraging" helps motivate the desired behaviors that the Company seeks to achieve.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the case of Messrs.&nbsp;Su and Allan, 75% of their Team Factor is determined based on the measures, targets and weights for the brand or division unit as shown above and 25% is
determined based on the same measures, targets and weights described for Messrs.&nbsp;Novak, Carucci and Hearl, which represent the Company's consolidated performance. The Compensation Committee
believes that, for brand and operating division executives, this allocation between brand or division results and consolidated results strikes an important balance. </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Individual Factor.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each named executive officer's individual factor is determined by the Compensation Committee based upon
the Compensation Committee's subjective determination of the named





executive officer's individual performance for the year, including consideration of specific individual performance goals set at the beginning of the year. As described above, our Chairman, CEO and
President, Mr.&nbsp;Novak, provides the Compensation Committee with his evaluation of each of the other named executive officers' performance and recommends an Individual Factor to the Committee.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Application of Annual Incentive Program Formula to Named Executive Officers.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In Mr.&nbsp;Carucci's case, his Team Factor
and Individual Factor were 177 and 140, respectively. The Team Factor was determined based upon the actual performance versus target performance as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="84%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="40%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Team Performance Measures<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team Performance Targets</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Actual Performance</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor based on leverage formula</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Weight</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor after applying weights</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Earnings Per Share Growth</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>15.2%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>187</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>50%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>93.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>System Sales Growth</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4.5%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5.6%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>172</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>34.4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Net System New Restaurant Builds</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>600</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>717</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40.0</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>60%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>59%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>95</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>9.5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Consolidated Business Team Performance Factor (total weighted)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee determined that Mr.&nbsp;Carucci's overall individual performance for 2007 was above target based upon strong earnings per share growth, system sales growth
and net new restaurants, as well as a 30% increase in YUM's stock price and an improvement in our price to earnings ratio. In addition, the Committee considered that, while the U.S. business missed
its growth and profit targets, under Mr.&nbsp;Carucci's leadership the Company negotiated favorable debt terms, established ownership plans for the Company's U.S. restaurants and implemented a new
information services structure to help drive effectiveness of the restaurant technology platform. In consideration of this overall strong performance, the Committee approved an Individual Factor of
140. The Committee based this determination on its subjective assessment of Mr.&nbsp;Carucci's performance and did not assign a weight to any particular item. Application of the formula based on the
Team Factor and Individual Factor as determined above resulted in Mr.&nbsp;Carucci receiving an annual incentive for 2007 equal to $1,263,780. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>54</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ea17101_1_55"> </A>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
Mr.&nbsp;Su's case, his Team Factor and Individual Factor were 182 and 150, respectively. The Team Factor was determined based upon the actual performance versus target performance
as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="84%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="40%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Team Performance Measures<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team Performance Targets</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Actual Performance</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor based on leverage formula</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Weight</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor after applying weights</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Division Operating Profit</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>19.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>23%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>172</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>50</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>86</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>System Sales Growth</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>17.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>24.1%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Gross New Restaurant Builds</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>400</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>502</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>62%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>67.5%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>179</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17.9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>China Division Team Performance Factor</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>184</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>Consolidated Business Team Factor</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Su's Team Performance Factor<BR>
(184&nbsp;&times;&nbsp;75%)&nbsp;+&nbsp;(177&nbsp;&times;&nbsp;25%)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>182</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
resulted in a China Division Team Factor of 184, which, when combined with the Consolidated Team Factor of 177, produced an overall Team Factor for Mr.&nbsp;Su of 182 ((184
&times; 75%)&nbsp;+&nbsp;(177 &times; 25%)). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Mr.&nbsp;Su, the Compensation Committee determined that his overall individual performance for 2007 was significantly above target based upon the China Division exceeding its
profit plan, and significantly surpassing its system sales growth and development plans, as well as Mr.&nbsp;Su's strong leadership in managing KFC through commodity shortages, improving the variety
of KFC day-parts and protein types, expanding Pizza Hut's presence in new locations and continuing development of our casual dining business. In consideration of this strong performance,
the Committee approved an Individual Performance Factor of 150. The Committee based this determination on its subjective assessment of Mr.&nbsp;Su's performance and did not assign a weight to any
particular item. Application of the formula based on the Team Factor and Individual Factor resulted in Mr.&nbsp;Su receiving an annual incentive for 2007 equal to $1,719,900.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
Mr.&nbsp;Allan's case, his Team Factor and Individual Factor were 171 and 150, respectively. The Team Factor was determined based upon the actual performance versus target
performance as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="84%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="40%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Team Performance Measures<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team Performance Targets</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Actual Performance</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor based on leverage formula</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Weight</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Factor after applying weights</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Division Operating Profit Growth</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>12.5%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>152</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>50</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>76</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>System Sales Growth</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Net System New Restaurant Builds</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>385</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>449</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>Customer Satisfaction</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>62%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>64%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>129</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>12.9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>International Division Team Performance<BR>
Factor</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>169</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>Consolidated Business Team Factor</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=9 style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Allan's Team Performance Factor<BR>
(169&nbsp;&times;&nbsp;75%)&nbsp;+&nbsp;(177&nbsp;&times;&nbsp;25%)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>171</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
resulted in an International Division Team Factor of 169, which, when combined with the Consolidated Team Factor of 177, produced an overall Team Factor for Mr.&nbsp;Allan of 171
((169 &times; 75%)&nbsp;+&nbsp;(177 &times; 25%)). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Mr.&nbsp;Allan, the Compensation Committee determined that his overall individual performance for 2007 was significantly above target based upon the International Division
exceeding profit plan, target system sales growth, development targets and customer service measures, as well as Mr.&nbsp;Allan's strong leadership in improving KFC and Pizza Hut delivery position,
ensuring brand evolution and marketing execution, completing significant refranchising and gaining franchise commitments to worldwide asset base

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>55</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;"><FONT SIZE=2>


upgrades and operating simplicity. In consideration of this strong performance, the Committee approved an Individual Factor of 150. The Committee based this determination on its subjective assessment
of Mr.&nbsp;Allan's performance and did not assign a weight to any particular item. Application of the formula based on the Team Factor and Individual Factor resulted in Mr.&nbsp;Allan receiving
an annual incentive for 2007 equal to $1,615,950.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
Mr.&nbsp;Hearl's case, his Team Factor and Individual Factor were 177 and 130, respectively. The Team Factor was determined based upon the actual performance versus target
performance of YUM on a consolidated basis as shown above for Mr.&nbsp;Carucci. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Mr.&nbsp;Hearl, the Compensation Committee determined that his overall individual performance for 2007 was above target based upon the Company exceeding the U.S. development plan,
adding many new franchisees, successfully executing the refranchising plan at Long John Silver's and Mr.&nbsp;Hearl's very strong leadership in implementing best in class food safety protocols. In
consideration of this strong performance, the Committee approved an Individual Factor of 130. The Committee based this determination on its subjective assessment of Mr.&nbsp;Hearl's performance and
did not assign a weight to any particular item. Application of the formula based on the Team Factor and Individual Factor resulted in Mr.&nbsp;Hearl receiving an annual incentive for 2007 equal to
$1,271,303.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
chart below provides the calculation of each named executive officer's 2007 annual incentive: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="36%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007 Base Salary</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Annual Target Bonus Percentage</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Team Factor</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Individual Factor</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007 Annual Incentive Award</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,320,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>140</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>145</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,742,892</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>600,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>85</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>140</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,263,780</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>700,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>90</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>182</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>150</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,719,910</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>700,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>90</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>171</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>150</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,615,950</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>650,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>85</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>177</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>130</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,271,303</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Novak's annual incentive is discussed beginning on page&nbsp;61.

 </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Long-term Incentive Compensation  </I></B></FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal purpose of our long-term incentive compensation program ("LTI Plan") is to motivate our executives to help us achieve our
long-range performance goals that will enhance our value and, as a result, enhance the price of our stock and our shareholders' returns on their investments. The long-term
incentive philosophy is to target the 50th&nbsp;percentile of the companies in the survey data for executives who are achieving their ownership guidelines. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under our LTI Plan, we award long-term incentives to our executive officers in the form of non-qualified stock options or stock settled stock appreciation rights
("SARs"). Each year the Committee reviews the mix of long-term incentives to determine if it is appropriate to continue using 100% stock options and SARs as the long-term incentive vehicle. The
Committee has chosen to use options and SARs because they emphasize YUM's focus on long-term growth, they reward employees only if the stock price goes up and they align Restaurant General Managers
and senior management on the same program. Long-term incentive award ranges are established based upon the survey data. In general, our stock options and SARs have ten-year
terms and vest 25% per year over four years.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For each named executive officer other than Mr.&nbsp;Novak, the 2007 SARs grant was awarded based on the individual's achievement of his stock ownership guidelines and the Compensation
Committee's subjective assessment of each executive's performance and consideration of the survey data. The Committee based its subjective assessment on factors considered with respect to the
evaluation of Messrs.&nbsp;Carucci's, Su's, Allan's and Hearl's individual performance in determining each executive's Individual Factor noted at pages 54-56 as well as their expected contributions
in future years. The

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>56</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;"><FONT SIZE=2>


Committee did not assign a weight to any particular item. Based on this assessment for 2007, Messrs.&nbsp;Su and Allan received regular stock appreciation right grants significantly above the
50<SUP>th</SUP>&nbsp;percentile of the survey data. Mr.&nbsp;Carucci received a stock appreciation right grant at the 50<SUP>th</SUP>&nbsp;percentile of the survey data. As market data was
not available for Mr.&nbsp;Hearl's position, his LTI Plan grant was kept consistent with his target when he was President of Pizza Hut. Each SAR was granted at the average of the high and low sale
price of the underlying YUM common stock on the date of grant. As mentioned above at page&nbsp;49, the Committee does not measure or review the percentile ranking of actual long term incentive
compensation.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Novak's long-term incentive compensation is discussed on page&nbsp;61.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From time to time and in addition to the regular annual grant, Chairman's Award SAR or stock option grants are made to selected employees in recognition of superlative performance and
extraordinary



impact on business results. In the case of employees below the Senior Leadership Team Level, these awards are made at the discretion of the CEO. Awards to executives on the Senior Leadership Team must
be approved by the Compensation Committee. These SARs or stock options may vest in their entirety after four or five years or 25% per year over four years. In 2007, in addition to his regular grant,
Mr.&nbsp;Allan received a Chairman's Award grant of SARs with an economic value of $3.0&nbsp;million based on the Committee's subjective assessment of the continued strong performance of the
International Division in 2006 and his position as a senior leader in the Company.

 </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferral of Annual Incentive into LTI.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In keeping with the Company's emphasis on executive stock ownership, executives have
the opportunity to defer all or a portion of their annual incentive compensation and acquire phantom shares (referred to as restricted stock units or "RSUs") of YUM common stock under the Company's
Executive Income Deferral ("EID") Program at a 25% discount from the average market price on the date of deferral (the "Discount Stock Fund"). However, to avoid forfeiture of these RSUs, participating
executives must not voluntarily leave the Company for two years following the deferral or meet certain retirement or disability criteria (this and other features of the EID Program are described in
more detail beginning at page&nbsp;78). The number of RSUs, if any, that each named executive officer received by deferring his 2007 annual incentive is set forth on page&nbsp;70 under the Grants
of Plan-Based Awards table. The value of these RSUs (including the discount portion) is also included in footnote 4 under the Summary Compensation Table on page&nbsp;67. The value of 2007 annual
incentive deferred into the Company's EID Program is not included in the Nonqualified Deferred Compensation Table on page&nbsp;79. This is because that table reports deferred compensation as of
December&nbsp;31, 2007 and the 2007 annual incentive is not awarded (and therefore deferred) until January 2008.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the EID Program, once an employee reaches age 55 with 10&nbsp;years of service, the forfeiture provisions are less onerous: (1)&nbsp;the employee is not subject to a two year
risk of forfeiture with respect to any annual incentive deferred and (2)&nbsp;the portion of the deferral attributable to the discount vests ratably over one year. In 2007, Messrs.&nbsp;Novak, Su
and Hearl reached (or had previously reached) age 55 with 10&nbsp;years of service and their deferrals, as well as all future deferrals, are subject to these forfeiture rules.

</FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Retirement Benefits  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We offer competitive retirement benefits through the YUM! Brands Retirement Plan and the YUM! Brands,&nbsp;Inc. Pension Equalization Plan for employees at all
levels who meet the eligibility requirements. These are broad-based plans designed to provide a retirement benefit based on years of service with the Company and average annual earnings. The annual
benefit payable under these plans to U.S.-based employees hired prior to October&nbsp;1, 2001 is discussed following the Pension Benefits Table on page&nbsp;74. This benefit is designed to provide
income replacement of approximately 40% of salary and annual incentive compensation (less the company's contribution to social security on behalf of the employee) for employees with 20&nbsp;years of
service who retire after age 62.

 </FONT></P>


<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>57</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The annual accrual for each named executive officer is set forth on page&nbsp;66, under the Summary Compensation Table, and the actual projected benefit at termination is set forth on
page&nbsp;76, under the Pension Benefits Table.

 </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Medical, Dental, Life Insurance and Disability Coverage  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We also provide other benefits such as medical, dental, life insurance and disability coverage to each named executive officer through benefits plans, which are
also provided to all eligible U.S.-based salaried employees. Eligible employees, including the named executive officers, can purchase additional life, dependent life and accidental death and
dismemberment coverage as part of their employee benefits package. Except for the imputed value of life insurance premiums, the value of these benefits is not included in the Summary Compensation
Table since they are made available on a Company-wide basis to all U.S. based salaried employees.

 </FONT></P>


<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Perquisites  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Senior Leadership Team members below the CEO, we pay for a country club membership and provide up to $7,500 perquisite allowance annually. If the executive
does not elect a country club membership, the perquisite allowance is increased to $11,500 annually. We also provide an annual car allowance of $27,500 and an annual physical examination. The values
of these perquisites are included in the Summary Compensation Table in the column headed "All Other Compensation."

 </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our CEO does not receive these perquisites or allowances; however, Mr.&nbsp;Novak is required to use the Company aircraft for personal as well as business travel pursuant to the
Company's executive security program established by the Board of Directors. The Board's security program also covers Mrs.&nbsp;Novak. Other executives may use corporate aircraft for personal use
with the prior approval of Mr.&nbsp;Novak. In addition, depending on seat availability, family members of executive officers may travel on the Company aircraft to accompany executives who are
traveling on business. There is no incremental cost to the Company for these trips. The incremental cost of the personal use by Mr.&nbsp;Novak and the other named executive officers is reported on
page&nbsp;69. We also pay for the cost of the transmission of home security information from Mr.&nbsp;Novak's home to our security department.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the case of Mr.&nbsp;Su, he receives several perquisites related to his overseas assignment. These perquisites were part of his original compensation package and the Compensation
Committee has elected to continue to provide them. The amount of these perquisites is reported on page&nbsp;69. Mr.&nbsp;Su's agreement provides that the following will be provided: annual foreign
service premium; local social club dues; car allowance; housing, commodities, and utilities allowances; tax preparation services, tax equalization to the United States for salary and bonus; and tax
reimbursement up to a maximum of $5&nbsp;million in cases where China marginal income tax rate exceeds the Hong Kong marginal income tax rate with respect to income attributable to certain stock
option and SAR exercises and to distributions of deferred income. When Mr.&nbsp;Su retires from the Company he will be required to reimburse the Company for the tax reimbursements for certain stock
option and SARs exercises, if any, made within six months of his retirement.

 </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Payments upon Termination of Employment  </I></B></FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company does not have agreements concerning payments upon termination of employment except in the case of a change in control of the Company. The terms of
these change of control agreements are described beginning on page&nbsp;81. In 2006, the Compensation Committee had its independent consultant review the change in control agreements. The Committee
reviewed the aggregate value of all compensation that would result in the event of each triggering event under the change-in-control arrangements. They reviewed the total
amounts that could be paid in the case of a change-in-control and a termination. After considering this review, the Compensation Committee determined that the benefits provided
are reasonable, including the tax gross-up provision. The Compensation Committee continues to

</FONT></P>


<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>58</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


believe these are appropriate agreements for retaining executives to preserve shareholder value in case of a threatened change in control. The Committee does not review these agreements or other
aspects of the Company's change in control program every year.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's change in control agreements, in general, pay a benefit of two times salary and bonus and provide for a tax gross-up in case of any excise tax. In addition,
unvested stock options and stock appreciation rights vest upon a change of control (as fully described under </FONT><FONT SIZE=2><I>Change in Control</I></FONT><FONT SIZE=2> beginning on
page&nbsp;81). Other benefits (i.e.,&nbsp;bonus, severance payments and outplacement) generally require a change in control, followed by a termination of an executive's employment. In adopting the
so-called "single" trigger treatment for equity vehicles, the Company is guided by:

 </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Keeping
employees relatively whole for a reasonable period but avoiding creating a "windfall."
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Single
trigger vesting ensures that ongoing employees are treated the same as terminated employees with respect to outstanding equity grants.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Single
trigger vesting provides employees with the same opportunities as shareholders, who are free to sell their equity at the time of the change in control event and
thereby realize the value created at the time of the deal.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
Company that made the original equity grant may no longer exist after a change in control and employees should not be required to have the fate of their outstanding
equity tied to the new company's future success.
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Supporting
the compelling business need to retain key employees during uncertain times.
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>A
single trigger on equity vesting can be a powerful retention device during change in control discussions, especially for more senior executives whose equity awards
represents a significant portion of their total pay package.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>A
double trigger on equity awards provides no certainty of what will happen when the transaction closes. </FONT></DD></DL>
</DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As shown under </FONT><FONT SIZE=2><I>Change in Control</I></FONT><FONT SIZE=2> beginning on page&nbsp;81, the Company will provide tax gross-ups for the named executive
officers for any excise taxes due under Section&nbsp;4999 of the Internal Revenue Code. The effects of Section&nbsp;4999 generally are unpredictable and can have widely divergent and unexpected
effects based on an executive's personal compensation history. Therefore, to provide an equal level of benefit across individuals without regard to the effect of the excise tax, the Company and
Compensation Committee continue to believe that Section&nbsp;4999 tax gross-up payments are appropriate for the Company's most senior executives.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company does provide for pension and life insurance benefits in case of retirement as described at pages&nbsp;57, 58 and beginning at page&nbsp;74 and the continued ability to
exercise options in case of retirement.



Vesting of RSUs under the EID program accelerates once an employee reaches age 55 with 10&nbsp;years of service. The Committee does not specifically consider the change in control benefits or any of
these other benefits in determining each named executive officers other compensation elements, although the Committee is aware of these items of compensation when making annual compensation decisions.
With respect to consideration of how these benefits fit into the overall compensation policy, the change of control benefits are reviewed from time to time by the Committee for competitiveness. When
last reviewed by the Committee in 2006, its independent consultant indicated that these benefits generally fall below the average for companies of our size and, therefore, fall within (and arguably
under) the competitive norm. As noted above, the Committee believes the benefits provided in case of a change in control are appropriate and are consistent with the policy of attracting and retaining
highly qualified employees.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
analyzing the reasonableness of these change in control benefits, the Committee chose not to consider wealth accumulation of the executives (although this information was provided to
the Committee) in determining whether these benefits should be provided. This is because if properly designed, the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>59</FONT></P>

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<BR>

<P style="font-family:times;"><FONT SIZE=2>Committee
believes a change in control program protects shareholder interests by enhancing employee focus during rumored or actual change in control activity through:

 </FONT></P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Incentives
to remain with the Company despite uncertainties while a transaction is under consideration or pending;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Assurance
of severance and benefits for terminated employees; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Access
to equity components of total compensation after a change in control. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Future Severance Agreement Policy  </I></B></FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As recommended by shareholders in 2007, the Committee approved a new policy to limit future severance agreements with our executives. The Committee adopted a
policy under which the Company will seek shareholder approval for future severance payments to a named executive officer if such payments would exceed 2.99 times the sum of (a)&nbsp;the named
executive officer's annual base salary as in
effect immediately prior to termination of employment; and (b)&nbsp;the highest annual bonus awarded to the named executive officer by the Company in any of the Company's three full fiscal years
immediately preceding the fiscal year in which termination of employment occurs or, if higher, the executive's target bonus. Certain types of payments are excluded from this policy, such as amounts
payable under arrangements that apply to classes of employees other than the named executive officers or that predate the implementation of the policy, as well as any payment that the Committee
determines is a reasonable settlement of a claim that could be made by the named executive officer. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Compensation of our Chief Executive Officer  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each year, our Board, under the leadership of the Compensation Committee Chairperson, conducts an evaluation of the performance of our CEO, David Novak. This
evaluation includes a review of his:


</FONT>

</P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>leadership
in the development and implementation of Company strategies;


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>leadership
pertaining to business execution and the achievement of results; and


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>development
of diversity and management talent.

 </FONT></DD>

</DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In setting compensation for Mr.&nbsp;Novak for 2007, the Committee considered the historical performance of the Company since its inception, noting that Mr.&nbsp;Novak had been
President for each of those years, CEO since 2000 and Chairman since 2001. The Committee noted that for the prior eight, five and one year periods, the Company had performed very strongly versus the
nondurable consumer products group in terms of total shareholder return (top quartile), return on net assets (top quartile) and earnings per share growth (top 50%). Based on this sustained strong
performance, the Committee determined that Mr.&nbsp;Novak's target total compensation for 2007 should be set near or at the 70<SUP>th</SUP>&nbsp;percentile as compared to the compensation of
chief executives in the peer group.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on this analysis, the Committee approved the following compensation for 2007: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="67%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="79%" style="font-family:times;"><FONT SIZE=2><B>Salary</B></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,320,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="79%" style="font-family:times;"><FONT SIZE=2><B>Target Bonus Percentage</B></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>140%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="79%" style="font-family:times;"><FONT SIZE=2><B>Long Term Incentive Award</B></FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,451,315</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the adjustments described below, the Committee noted that the total target compensation for Mr.&nbsp;Novak was at the 68<SUP>th</SUP>&nbsp;percentile. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee approved a 2007 salary increase for Mr.&nbsp;Novak of 8.2% effective January&nbsp;28, 2007, adjusting his base salary to $1,320,000. The Compensation
Committee approved this salary based on their subjective assessment of Mr.&nbsp;Novak's demonstrated strong and effective performance in 2006. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>60</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In January 2007, the Committee approved a long-term incentive award having a value of $5,451,315. This award was comprised of SARs with a value of $4,335,422 and restricted stock units
under the deferral plan with a value of $1,115,893. This award reflected the Compensation Committee's subjective determination that, based on his strong performance in 2006 and the sustained
performance of the Company since the spin-off from PepsiCo in 1997 (without assigning any weight to any particular item), he should receive a long-term incentive award above the
50<SUP>th</SUP>&nbsp;percentile. In making this determination, the Committee noted that Mr.&nbsp;Novak elected to defer 100% of his 2006 annual incentive payment, which was otherwise payable in
the first quarter of 2007. As a result of this deferral, Mr.&nbsp;Novak acquired phantom shares (referred to as RSUs) at a 25% discount. The portion of the deferral attributable to the discount,
$1,115,893, was considered by the Compensation Committee in the assessment of Mr.&nbsp;Novak's long-term incentive compensation versus the market and in the determination of his SARs award for 2007.
Specifically (as noted above), the Committee determined that the value of Mr.&nbsp;Novak's total long-term incentive award should be $5,451,315. After taking into consideration the discount portion
attributable to the deferral of his 2006 annual incentive payment, this resulted in awarding a SARs award with a value of $4,335,422 ($5,451,315&#151;$1,115,893).


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Novak earned an annual incentive award payment for 2007 performance of $4,742,892. For 2007, the Compensation Committee established Mr.&nbsp;Novak's Team Factor performance
measures and targets



as set forth on page&nbsp;53. The Compensation Committee determined that the Company's actual performance against these criteria and goals produced a Team Factor of 177. Refer to page&nbsp;54 for
information on how this Team Factor was determined.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of determining Mr.&nbsp;Novak's Individual Factor, the Compensation Committee considered the following pre-established individual criteria: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Earnings
Per Share Growth
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Return
on Invested Capital
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>International
Restaurant Development
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Restaurant
Operations Improvement
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Customer
Satisfaction

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Diversity
and Talent Management

 </FONT></DD>

</DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee determined that Mr.&nbsp;Novak attained or exceeded all goals within each of these criteria. In addition, the Compensation Committee noted the strong
performance of the China and International Divisions, the introduction of global sales layers, continued development of strong talent throughout the organization and the launch of the Company's
Corporate Social Responsibility initiative in conjunction with the World Food Programme. The Committee also noted attainment of several business priorities in 2007 including expanded testing of the
Taco Bell breakfast menu, international investment in new sales layers for beverages, breakfast and seafood, continued successful expansion of the China casual dining concept, restructuring of KFC,
and strong Pizza Hut profit results. In consideration of this strong performance, the Committee approved an Individual Factor of 145. The Committee based this determination on its subjective
assessment of the performance described above without assigning a weight to any one factor. After determination of the Team Factor and Individual Factor, Mr.&nbsp;Novak's annual incentive was
calculated as shown on page&nbsp;56.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee noted that Mr.&nbsp;Novak elected to defer 100% of his 2007 annual incentive into phantom shares of YUM common stock under the EID Program. As discussed in
more detail beginning on page&nbsp;78, under the EID Program, an executive is permitted to acquire phantom shares at a 25% discount. (These RSUs are forfeited if the executive voluntarily leaves the
Company within two years of the date the annual incentive is awarded; however, in Mr.&nbsp;Novak's case, under the terms of the EID Program, since he attained eligibility for early retirement, he
became vested in 100% of his account

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>61</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>


attributable to actual deferred bonus and will become 100% vested in the portion of his account attributable to the discount upon the one year anniversary of the deferral). As noted above, the portion
of the deferral attributable to the discount was considered by the Compensation Committee in the assessment of Mr.&nbsp;Novak's long-term incentive compensation versus the market and in
the determination of SARs award for 2008 (similar to the 2007 SARs award as discussed above). This deferral resulted in Mr.&nbsp;Novak receiving 169,700 RSUs. The Committee noted that over the last
nine years Mr.&nbsp;Novak has accumulated over 1.75&nbsp;million RSUs solely through the deferral of his annual incentives and that these RSUs had an aggregate value in excess of
$70&nbsp;million as of the end of 2007. These RSUs are payable only in YUM common stock and are not payable until after Mr.&nbsp;Novak leaves the Company.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2004, the Compensation Committee approved an employment agreement for Mr.&nbsp;Novak. The agreement provided that the Company agreed to employ Mr.&nbsp;Novak through
October&nbsp;31, 2007 and stated that if Mr.&nbsp;Novak was removed from the Chief Executive Officer position, the Company agreed to employ him on at least a part-time basis so that
his current options may continue to vest and to pay him at no less than the rate of salary and target bonus he received in 2004. The Compensation Committee approved the agreement based on
Mr.&nbsp;Novak's significant and long-term contribution to the Company and to ensure Mr.&nbsp;Novak's continued employment with the Company in the event of competitive offers from
other employers. The agreement did not provide Mr.&nbsp;Novak with any severance payments if he left the Company. With the exception of a non-compete provision that remains in effect
until October&nbsp;31, 2009, the agreement expired on October&nbsp;31, 2007.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
January of 2008, the Committee approved a retention award based on Mr.&nbsp;Novak's strong leadership over the last ten years, the Company's performance during that time period, and
to help ensure his continued leadership over at least the next four years. The retention award is a grant of 187,398 restricted stock units. The award vests after four years and has a date of grant
value of $7&nbsp;million. The award will be paid to Mr.&nbsp;Novak in shares of YUM common stock six months following his retirement provided that he does not leave the Company before the award
vests. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While the Compensation Committee did not specifically discuss why Mr.&nbsp;Novak's compensation exceeds that of other named executive officers, it does review every year, as part of
its process for setting compensation described beginning on page&nbsp;47, data from consultants which substantiates on a comparative basis this difference in target compensation. This comparative
market data analyzed over several years supports the differences in salary, LTI and annual incentive payment.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>What are YUM's Executive Stock Ownership Guidelines?  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee has established stock ownership guidelines for our named executive officers. Our Chief Executive Officer is required to own 336,000
shares of YUM stock or stock equivalents (approximately nine times his base salary). At the end of 2007, Mr.&nbsp;Novak held over 1,750,000 shares of our stock or stock equivalents with a value
equal to more than 45 times his annual base salary, thus, significantly exceeding his ownership guidelines.


</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Leadership Team members (other than Mr.&nbsp;Novak) are expected to attain their ownership targets, equivalent in value to two to three times their current annual base salary
depending upon their positions, within five years from the time the established targets become applicable. Each named executive officer's ownership requirement was increased from 24,000 to 50,000
shares for 2008 (except for Mr.&nbsp;Hearl's which remains at 24,000 for 2008). If an executive does not meet his or her ownership guideline, he or she is not eligible for a grant under the LTI
Plan. In 2007, all Senior Leadership Team members and all other employees subject to guidelines met or exceeded their ownership guidelines.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees
who fail to meet our ownership guidelines typically do not receive a stock option or SAR award for the year in which the failure occurred. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>62</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ea17101_1_63"> </A>

<P style="font-family:times;"><FONT SIZE=2><B>What are YUM's Stock Option and Stock Appreciation Rights Granting Practices?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically, we have always awarded non-qualified stock option and stock appreciation rights grants annually at the Compensation Committee's January
meeting. This meeting date is set by the Board of Directors more than 6&nbsp;months prior to the actual meeting. We do not backdate options or grant options retroactively. In addition, we do not
time such grants in coordination with our possession or release of material, non-public or other information. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
make the grants at the same time other elements of annual compensation are determined so that we can consider all elements of compensation in making the grants. Pursuant to the terms
of our LTI Plan, we set the exercise price as the average of the high and low sale prices of our common stock on the date of grant. (Beginning in 2008, we will use the closing price on the date of
grant.) We make
these grants to named executive officers at the same time they are granted to the other approximately 700 above restaurant leaders of our Company who are eligible for option and SAR grants. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management
recommends the awards to be made pursuant to our LTI Plan to the Compensation Committee. While the Compensation Committee gives significant weight to management
recommendations concerning grants to Senior Leadership Team members (other than the CEO), the Compensation Committee makes the determination whether and to whom to issue grants and determines the
amount of the grant. The Board of Directors has delegated to Mr.&nbsp;Novak and Anne Byerlein, our Chief People Officer, the ability to make grants to employees who are not Senior Leadership Team
members and whose grant is less than approximately 29,000 options or appreciation rights annually. In the case of these grants, the Committee sets all the terms of each award, except the actual number
of stock appreciation rights or options, which are determined by Mr.&nbsp;Novak and Ms.&nbsp;Byerlein pursuant to guidelines approved by the Compensation Committee in January of each year. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grants may also be made on other dates that the Board of Directors meets. These grants generally are Chairman's Awards, which are made in recognition of superlative performance and
extraordinary impact on business results. Over the last 4&nbsp;years, we have averaged 12 Chairman's Award grants per year outside of the January time frame, and in most cases these grants have been
awarded to employees below the Senior Leadership Team level.

</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>What are YUM's Practices as to the Deductibility of Executive Compensation?  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Omnibus Budget Reconciliation Act of 1993, provisions were added to the Internal Revenue Code under Section&nbsp;162(m) that limit the tax deduction
for compensation in excess of one million dollars paid to certain executive officers. However, performance-based compensation can be excluded from the limit so long as it meets certain requirements.
The Compensation Committee believes that the annual incentive awards and stock option and stock appreciation rights grants satisfy the requirements for exemption under the Internal Revenue Code
Section&nbsp;162(m). Payments made under these plans qualify as performance-based compensation. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For 2007, the annual salary paid to Mr.&nbsp;Novak exceeded one million dollars. The Compensation Committee sets Mr.&nbsp;Novak's salary as described above under the heading
"Compensation of Our Chief Executive Officer." The other named executive officers were in each case paid salaries of less than one million dollars. The 2007 annual incentives were all paid pursuant to
our annual incentive program and will, therefore, be deductible. In this regard, the Compensation Committee exercises "negative discretion" in setting payouts under the annual incentive plan. By
setting a high amount which can then be reduced at the Committee's discretion, our annual incentive plan meets the requirements of Section&nbsp;162(m) of the Internal Revenue Code. In 2007, the
Compensation Committee, after certifying that EPS had exceeded the 10% growth target which would permit a maximum payout, exercised its negative discretion to reduce the payout to the CEO from
$6.0&nbsp;million to $4.7&nbsp;million. As discussed at page&nbsp;61, this reduction was not a negative reflection on the CEO's performance as he, in fact, performed significantly above
expectations (for example, EPS growth was 15.2%). While the Compensation Committee does utilize "negative

</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>63</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ea17101_1_64"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>


discretion" from a tax perspective, the Committee administers the plan, in particular with the setting of objective performance criteria as discussed beginning on page&nbsp;53, as if the annual
incentive plan was a non-discretionary plan. For example, if a performance measure is not attained at a certain level, no bonus will be paid.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent any of the named executive officers defer their annual incentives into phantom shares of YUM common stock at a discount, the annual incentives are no longer qualified under
Section&nbsp;162(m). However, we expect incentives will be deductible when paid because they will be paid only at a time when they will otherwise represent deductible compensation, such as payments
made when the executive is no longer a named executive officer. Stock option and stock appreciation right grants made under the terms of the LTI Plan are exempt as performance-based compensation for
purposes of calculating the one million dollar limit. Due to the Company's focus on performance-based compensation plans and the deferral of compensation by certain executive officers, we expect to
continue to qualify most compensation paid to the named executive officers as tax deductible. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>How does the Compensation Committee Review Total Compensation in Making Its Determinations?  </B></FONT></P>

<P style="font-family:times;">

<FONT SIZE=2>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We intend to continue our strategy of compensating our executives through programs that emphasize performance-based compensation. To that end, executive
compensation through annual incentives and stock appreciation rights grants is tied directly to our performance and is structured to ensure that there is an appropriate balance between our financial
performance and shareholder return. The Compensation Committee reviewed each component of compensation and believes that the compensation was reasonable in its totality. Before finalizing compensation
actions with regard to our CEO, the Compensation Committee took into consideration all elements of compensation accruing to Mr.&nbsp;Novak in 2007. These elements included salary, annual incentive
award, long-term incentive awards, value of outstanding equity awards (vested and non-vested), value of deferred compensation, lump sum value of pension benefit at retirement,
gains realized from exercising stock options and perquisites. Total compensation for each of the named executive officers was reviewed by the Compensation Committee for 2007. Before finalizing
compensation for 2007, the Compensation Committee considered each named executive officer's salary, annual incentive award,





stock appreciation rights awards, value of outstanding equity awards (vested and unvested), lump sum value of pension at retirement and gains realized from exercising stock options. The Compensation
Committee will continue to review total compensation at least once a year.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ea17101_compensation_committee_report"> </A>
<A NAME="toc_ea17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>COMPENSATION COMMITTEE REPORT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee of the Board of Directors reports that it has reviewed and discussed with management the section of this proxy statement headed
"Compensation Discussion and Analysis," and, on the basis of that review and discussion, recommended that section be included in our annual report on Form&nbsp;10-K and in this proxy
statement. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>THE
COMPENSATION COMMITTEE<BR>
Thomas Ryan, Chair<BR>
David Dorman<BR>
Bonnie Hill*<BR>
Massimo Ferragamo </FONT></P>

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Joined
Committee on September&nbsp;20, 2007 </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>64</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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 </FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following tables provide information on compensation and stock-based awards paid, earned or awarded for 2007 and 2006 by YUM to our Chief Executive Officer, Chief Financial Officer
and our three other most highly compensated executive officers as of the end of our 2007 fiscal year in accordance with the rules of the SEC. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ec17101_summary_compensation_table"> </A>
<A NAME="toc_ec17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>SUMMARY COMPENSATION TABLE    <BR>    </B></FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="17%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name and<BR>
Principal Position</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="4%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Year</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Salary<BR>
($)(1)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Stock<BR>
Awards<BR>
($)(2)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option/SAR<BR>
Awards<BR>
($)(3)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Non-Equity<BR>
Incentive<BR>
Plan<BR>
Compensation<BR>
($)(4)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Change in<BR>
Pension&nbsp;Value<BR>
and<BR>
Nonqualified<BR>
Deferred<BR>
Compensation<BR>
Earnings<BR>
($)(5)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All Other<BR>
Compensation<BR>
($)(6)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total($)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(a)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="4%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(b)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(d)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(e)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(f)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(g)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(h)<BR> </B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(i)<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1><B>David C. Novak</B></FONT><FONT SIZE=1><BR>
Chairman of the Board, Chief Executive Officer and President</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,312,308<BR>
1,215,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3,354,572<BR>
3,355,718</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,257,692<BR>
4,082,240</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,742,892<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,647,578<BR>
2,069,631</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>203,939<BR>
169,310</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>15,518,981<BR>
10,891,899</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1><B>Richard T. Carucci</B></FONT><FONT SIZE=1><BR>
Chief Financial Officer</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>590,385<BR>
471,154</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>561,093<BR>
194,141</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>835,113<BR>
649,520</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>379,134<BR>
359,100</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>251,902<BR>
342,312</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>71,580<BR>
43,102</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2,689,207<BR>
2,059,329</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1><B>Jing-Shyh S. Su</B></FONT><FONT SIZE=1><BR>
President, China Division</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>686,539<BR>
523,077</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>708,292<BR>
1,163,137</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,154,856<BR>
1,044,288</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,719,900<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,486,408<BR>
493,258</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,408,513<BR>
378,475</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>7,164,508<BR>
3,602,235</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1><B>Graham D. Allan</B></FONT><FONT SIZE=1><BR>
President, Yum! Restaurants International</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>688,462<BR>
542,308</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>102,625<BR>
193,271</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,765,926<BR>
1,004,983</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,615,950<BR>
897,600</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>188,483<BR>
182,588</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>52,661<BR>
47,389</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,414,107<BR>
2,868,139</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1><B>Peter R. Hearl</B></FONT><FONT SIZE=1><BR>
Chief Operating&nbsp;&amp; Multi-Branding Officer</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>648,077<BR>
627,885</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,138,164<BR>
1,089,977</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,271,303<BR>
376,239</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>447,647<BR>
1,086,370</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>449,103<BR>
81,249</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3,954,294<BR>
3,261,720</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Amounts
shown are not reduced to reflect named executive officers' elections, if any, to defer receipt of salary into the Executive Income Deferral ("EID") Program or into the
Company's 401(k) Plan.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>In
accordance with SEC rules, amounts in this column represent the dollar amount recognized for the 2007 and 2006 fiscal years for financial statement reporting purposes for the fair
value of restricted stock units ("RSUs") granted under the EID Program with respect to annual incentives deferred into the EID and subject to a risk of forfeiture at the time of deferral in 2007 and
2006 as well as prior fiscal years, in accordance with FAS&nbsp;123R rather than amounts paid or realized by the named executive. Pursuant to SEC rules, the amounts shown exclude the impact of
estimated forfeitures related to service-based vesting conditions.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>Under
the terms of the EID Program, an employee who is age&nbsp;55 with 10&nbsp;years of service is fully vested in the amount of the deferral
attributable to the actual incentive award. Upon attainment of this threshold, the discount attributable to the deferral is subject to forfeiture on a pro&nbsp;rata basis for the year following the
deferral. Messrs.&nbsp;Novak and Su had attained this threshold at the time of their 2007 annual incentive award and thus only the discount attributable to their 2007 annual incentive award that was
recognized for financial statement reporting purposes in 2007 is included in this column. The remainder of their deferral attributable to the 2007 annual incentive award (that is the amount not
subject to forfeiture) is reported in column&nbsp;(f).


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>RSUs
are granted, as described in more detail beginning on page&nbsp;78, when an executive elects to defer all or a portion of his/her annual incentive
award under the EID Program and invests that deferral in RSUs. The actual 2007 annual incentive award amounts are described in footnotes to column&nbsp;(f).

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>The
RSUs had a fair market value as shown below for 2003-2007, which represents the average of the highest and lowest per share price of Company
stock on the NYSE on the grant date (except for 2007 where we used the closing price on the grant date). Units are settled by delivery of shares at the time the executive elects to receive payout. The
fair market value on the date </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>65</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=70,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=475447,FOLIO='65',FILE='DISK135:[08ZAX1.08ZAX17101]EC17101A.;33',USER='ABEAULI',CD=';7-APR-2008;16:54' -->
<A NAME="page_ec17101_1_66"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=1>of
grant attributable to the RSUs and FAS&nbsp;123R expense recognized in the 2007 and 2006 fiscal years related to the discount for Messrs.&nbsp;Novak and Su and the entire deferral for
Messrs.&nbsp;Carucci and Allan are as follows in 2007 and 2006: </FONT></P>

</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="RIGHT"><TABLE WIDTH="95%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=13 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="4%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2003</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2004</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2005</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=13 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Date of Grant</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>January&nbsp;27, 2004</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>January&nbsp;28, 2005</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>January&nbsp;26, 2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>January&nbsp;19/26, 2007</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>*</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>January&nbsp;24, 2008<BR>
February&nbsp;4, 2008<BR>
February&nbsp;29, 2008</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>*<BR>*<BR>*</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="12%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>Fair Market Value per RSU</FONT></TD>
<TD WIDTH="1%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>17.23</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>22.53</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>24.47</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>29.61/29.47</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>37.30/35.81/34.45</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Novak</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
24,808</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>34,523<BR>
448,800</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>487,209<BR>
531,501</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2,071,635<BR>
2,350,609</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>761,205<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Carucci</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,498<BR>
19,480</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>20,637<BR>
19,050</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>155,611<BR>
155,611</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>383,347<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Su</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
8,645</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>11,034<BR>
143,438</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>39,844<BR>
119,531</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>381,381<BR>
891,523</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>276,033<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Allan</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
5,510</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>7,703<BR>
100,141</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>94,922<BR>
87,620</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=1>Hearl</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:times;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->



<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>See the Grants of Plan-Based Awards table on page&nbsp;70 for discussion of multiple grant dates in 2007 and 2006.

<BR><BR></FONT></DD></DL>
</UL>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Amounts
in this column represent the dollar amount recognized for financial statement reporting purposes with respect to the applicable fiscal years for the fair value of stock
appreciation rights ("SARs") granted to each of the named executives in 2005, 2006 and 2007 as well as stock option grants prior to 2005, in accordance with FAS&nbsp;123R. Pursuant to SEC rules, the
amounts shown exclude the impact of estimated forfeitures related to service-based vesting conditions. See the Grants of Plan-Based Awards Table for information on SARs granted in 2007.
These amounts reflect the Company's accounting expense for these awards, and do not correspond to the actual value that will be recognized by the named executives. These grants were made under the
1999 Long-Term Incentive Plan.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>Listed
below for each executive is the amount of expense attributable to each of 2006 and 2007 for all SAR and stock option grants made for 2007 and prior
years.

 </FONT></DD></DL>
<BR>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="RIGHT"><TABLE WIDTH="95%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="21%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Prior to<BR>
2003</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2003</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2004</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2005</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
34,184</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>62,829<BR>
956,186</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,089,207<BR>
1,089,207</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>978,562<BR>
978,562</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,102,587<BR>
1,024,101</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,024,507<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,257,692<BR>
4,082,240</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>5,341<BR>
81,277</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>154,700<BR>
154,700</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>167,756<BR>
167,756</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>264,624<BR>
245,787</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>242,692<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>835,113<BR>
649,520</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
78,431</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>7,540<BR>
114,744</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>325,736<BR>
325,736</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>279,590<BR>
279,590</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>264,624<BR>
245,787</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>277,366<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,154,856<BR>
1,044,288</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
7,292</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>41,140<BR>
193,173</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>325,736<BR>
325,736</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>232,995<BR>
232,995</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>264,624<BR>
245,787</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>901,431<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,765,926<BR>
1,004,983</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2007<BR>
2006</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>12,566<BR>
191,239</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>326,762<BR>
326,762</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>326,189<BR>
326,189</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>264,624<BR>
245,787</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>208,023<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,138,164<BR>
1,089,977</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>66</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=71,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=435496,FOLIO='66',FILE='DISK135:[08ZAX1.08ZAX17101]EC17101A.;33',USER='ABEAULI',CD=';7-APR-2008;16:54' -->
<A NAME="page_ec17101_1_67"> </A>


<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>We
estimated the grant date present values using the Black-Scholes option pricing model. We used the following assumptions in calculating the Black-Scholes
present value for each stock option and SAR:

 </FONT></DD></DL>
<BR>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="RIGHT"><TABLE WIDTH="95%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="59%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2003</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2004</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=1>Expected term of options/SARs in years</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=1>Expected volatility percentage</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>33.7</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>39.7</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>36.8</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>31.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>29.0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=1>Risk-free rate of return (based on 5-year U.S. treasury yield average for January of relevant year)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3.1</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3.7</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4.3</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4.7</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=1>Dividend yield</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=1>Black Scholes fair value per option/SAR</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4.64</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>7.44</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>8.60</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>8.51</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>8.83</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>In
2003, Mr.&nbsp;Allan received two grants. The first grant had a Black-Scholes present value per option of $4.64 and the second grant had a
Black-Scholes present value of $4.86.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>We
did not take any further discount to the resulting option or stock appreciation right value to give effect (1)&nbsp;to the fact that the options/SARs
are not freely transferable, (2)&nbsp;to the potential forfeiture of the options or stock appreciation rights, or (3)&nbsp;to the fact that we have stock ownership guidelines.


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Except
as provided below and in footnote&nbsp;(2) above, amounts in column&nbsp;(f) reflect the annual incentive awards earned for the 2007 and 2006 fiscal year performance
periods, which were awarded by our Compensation Committee in January&nbsp;2008 and January&nbsp;2007, respectively, under the YUM! Leaders Bonus Program, which is described further beginning on
page&nbsp;52 under the heading "Annual Incentive Compensation". Under the Company's EID Program (which is described in more detail beginning on page&nbsp;78), executives are permitted to defer
their annual incentive award and invest that deferral into stock units, RSUs or other investment alternatives offered under the program. Under the EID Program, an executive who elects to defer his/her
annual incentive award into RSUs will acquire those RSUs at a 25% discount from the closing price of Company stock on the date the annual incentive award is granted. Pursuant to SEC rules, annual
incentives deferred into RSUs under the EID and subject to a risk of forfeiture are reported in column (d). If the deferral or a portion of the deferral is not subject to a risk of forfeiture, it is
reported in column&nbsp;(f).

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>For
2007 and 2006, Messrs.&nbsp;Allan and Hearl did not defer their annual incentives into RSUs; therefore, the entire amount of these annual incentives
are reported in column&nbsp;(f).

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>For
2007, Messrs.&nbsp;Novak and Su deferred 100% of their annual incentives into RSUs, and each attained age&nbsp;55 with 10&nbsp;years of service,
therefore, as explained in footnote&nbsp;(2), they were fully vested in the deferral of their 2007 annual incentive at the time of their deferral and their annual incentives are reported in
column&nbsp;(f). For 2006, Messrs.&nbsp;Novak and Su each elected to defer 100% of their annual incentive into RSUs resulting in nothing to report in column&nbsp;(f).


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>For
2007, Mr.&nbsp;Carucci elected to defer 70% of his annual incentive into RSUs subject to a risk of forfeiture. For 2006, Mr.&nbsp;Carucci elected to
defer 50% of his annual incentive into RSUs subject to a risk of forfeiture.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=1>Below
is the 2007 and 2006 annual incentive awards for each named executive officer as approved by our Compensation Committee (and reported in
column&nbsp;(f) for Messrs.&nbsp;Novak, Su and Carucci). Also reported below is the amount of 2007 and 2006 annual incentive elected to be deferred by the executive and the amount of additional
deferred income resulting from the application of the discount described above in the case of deferrals of the 2007 and 2006 annual incentive awards into RSUs. </FONT></DD></DL>
<BR>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="RIGHT"><TABLE WIDTH="95%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="50%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007 Annual<BR>
Incentive<BR>
Award</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount of 2007<BR>
Annual Incentive<BR>
Elected to<BR>
be Deferred*</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount of<BR>
Additional<BR>
Deferral<BR>
From<BR>
Application<BR>
of Discount*</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="50%" style="font-family:times;"><FONT SIZE=1>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,742,892</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>4,742,892</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,580,964</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="50%" style="font-family:times;"><FONT SIZE=1>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,263,780</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,263,780</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>294,882</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="50%" style="font-family:times;"><FONT SIZE=1>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,719,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,719,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>573,300</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="50%" style="font-family:times;"><FONT SIZE=1>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,615,950</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="50%" style="font-family:times;"><FONT SIZE=1>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,271,303</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE></DIV>
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<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Amounts in these columns were deferred in January&nbsp;2008 when the 2007 annual incentive was approved by the Compensation Committee. This
means they will not be reported in the Nonqualified Deferred Compensation table at page&nbsp;79 because the deferrals occurred after 2007. These amounts will be reported in the Nonqualified Deferred
Compensation tables in next year's proxy.

 </FONT></DD></DL>
</UL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>67</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=72,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=625692,FOLIO='67',FILE='DISK135:[08ZAX1.08ZAX17101]EC17101A.;33',USER='ABEAULI',CD=';7-APR-2008;16:54' -->
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<UL>
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<DIV ALIGN="RIGHT"><TABLE WIDTH="95%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="51%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2006 Annual<BR>
Incentive<BR>
Award</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount of 2006<BR>
Annual Incentive<BR>
Elected to<BR>
be Deferred</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount of<BR>
Additional<BR>
Deferral<BR>
From<BR>
Application<BR>
of Discount</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="51%" style="font-family:times;"><FONT SIZE=1>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3,347,680</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>3,347,680</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>1,115,893</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="51%" style="font-family:times;"><FONT SIZE=1>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>718,200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>718,200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>119,700</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="51%" style="font-family:times;"><FONT SIZE=1>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>963,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>963,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>321,300</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="51%" style="font-family:times;"><FONT SIZE=1>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>897,600</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="51%" style="font-family:times;"><FONT SIZE=1>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>376,239</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE></DIV>
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<DL compact>

<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Amounts
in column&nbsp;(g) reflect the aggregate increase in actuarial present value of age&nbsp;62 accrued benefits under all actuarial pension plans during the 2007 fiscal year
(using interest rate and mortality assumptions consistent with those used in the Company's financial statements). See the Pension Benefits Table at page&nbsp;74 for a detailed discussion of the
Company's pension benefits. The Company does not pay "above market" interest on non-qualified deferred compensation; therefore, this column reflects pension accruals only.


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(6)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Amounts
in this column are explained in the All Other Compensation Table and footnotes to that table, which follows. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>68</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=73,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=633702,FOLIO='68',FILE='DISK135:[08ZAX1.08ZAX17101]EC17101A.;33',USER='ABEAULI',CD=';7-APR-2008;16:54' -->
<A NAME="page_ec17101_1_69"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><A
NAME="ec17101_all_other_compensation_table"> </A>
<A NAME="toc_ec17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>ALL OTHER COMPENSATION TABLE    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table contains a breakdown of the compensation and benefits included under All Other Compensation in the Summary Compensation Table above for 2007. </FONT></P>

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<TH COLSPAN=11 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Perquisites(1)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Tax<BR>
Reimbursements(2)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Insurance<BR>
premiums(3)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Other(4)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>(a)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(b)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(d)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(e)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(f)<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>175,583</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>733</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>19,590</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>8,033</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>203,939</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="30%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>27,500</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,304</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,415</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>37,361</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>71,580</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>256,391</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,116,261</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>8,310</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>27,551</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,408,513</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="30%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>27,500</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,914</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,174</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15,073</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>52,661</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>377,500</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>12,498</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>7,701</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>51,404</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>449,103</FONT></TD>
</TR>
<TR VALIGN="TOP">
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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column include for Mr.&nbsp;Novak: incremental cost for the personal use of Company aircraft ($175,583&#151;we calculate the incremental cost to the Company
of any personal use of Company aircraft based on the cost of fuel, trip-related maintenance, crew travel, on board catering, landing and license fees, "dead head" costs of flying planes to
and from locations for personal use, and contract labor).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=2>For
Messrs.&nbsp;Carucci and Allan: Company car allowance ($27,500).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=2>For
Mr.&nbsp;Su: Expatriate spendables/housing allowance ($228,391); and Company provided automobile ($28,000).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=2>For
Mr.&nbsp;Hearl: relocation costs to Australia ($350,000) and Company car allowance ($27,500).

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect payments to the executive of tax reimbursements related to tax preparation assistance, reimbursement for relocation expenses and country club dues and
to travel by the executive's spouse on Company aircraft that for IRS purposes is considered personal but the Company determined was necessary for the spouse to accompany the executive on a business
related trip and for which the Company, therefore, reimbursed the executive for the tax related to the income attributable to the spouse's air travel. For Mr.&nbsp;Su, as explained at
page&nbsp;58, this amount represents the Company provided tax reimbursement for China income taxes incurred on deferred income distributions which exceed the marginal Hong Kong tax rate.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>These
amounts reflect the income each executive was deemed to receive from IRS tables related to Company provided life insurance in excess of $50,000. The Company provides every
salaried employee with life insurance coverage up to one times the employee's salary plus target bonus.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>This
column reports the total amount of other benefits provided, none of which individually exceeded the greater of $25,000 or 10% of the total amount of these benefits and the
perquisites and other personal benefits shown in column&nbsp;(b) for the named executive. These other benefits include: home security expense, perquisite allowance, relocation expenses, annual
payment for foreign service, club dues, tax preparation assistance, Company provided parking, annual physical and incremental cost for the personal use of Company aircraft. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>69</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>GRANTS OF PLAN-BASED AWARDS  </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides information on stock appreciation rights and restricted stock units granted for 2007 to each of the Company's named executive
officers. The amount of these awards that were expensed is shown in the Summary Compensation Table at page&nbsp;65.

</FONT>

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<TH COLSPAN=19 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=6 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ROWSPAN=6 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All&nbsp;Other<BR>
Option/SAR<BR>
Awards:<BR>
Number&nbsp;of<BR>
Securities<BR>
Underlying<BR>
Options&nbsp;(#)<BR>
(3)<BR>
(g)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=5 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ROWSPAN=5 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All&nbsp;Other<BR>
Stock&nbsp;Awards:<BR>
Number&nbsp;of<BR>
Shares&nbsp;of<BR>
Stock&nbsp;or<BR>
Units&nbsp;(#)(2)<BR>
(f)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=2 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Estimated Future Payouts Under<BR>
Non-Equity Incentive Plan Awards(1)</B></FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=4 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ROWSPAN=4 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Exercise&nbsp;or<BR>
Base&nbsp;Price<BR>
of&nbsp;Option/SAR<BR>
Awards&nbsp;($/Sh)<BR>
(4)<BR>
(h)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=4 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ROWSPAN=4 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Grant&nbsp;Date&nbsp;Fair<BR>
Value&nbsp;of&nbsp;Stock<BR>
and&nbsp;Options<BR>
Awards<BR>
(5)<BR>
(j)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=3 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ROWSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Closing<BR>
Price&nbsp;on<BR>
Date&nbsp;of<BR>
Grant<BR>
(i)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=2 style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ROWSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Grant<BR>
Date<BR>
(b)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR>
&nbsp;&nbsp;&nbsp;&nbsp;(a)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Threshold&nbsp;($)<BR>
(c)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Target&nbsp;($)<BR>
(d)</B></FONT><BR></TH>
<TH WIDTH="1%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Maximum&nbsp;($)<BR>
(e)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=19 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/19/2007<BR>
1/19/2007<BR>
1/24/2008<BR>
2/4/2008</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,848,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,544,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
165,709<BR>
3,991</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
490,960</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
29.61</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.50<BR>
29.50<BR>
37.30<BR>
35.81</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
4,335,422<BR>
6,180,944<BR>
142,912</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/19/2007<BR>
1/19/2007<BR>
1/24/2008<BR>
2/4/2008</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>510,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,530,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
30,786<BR>
872</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
116,302</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
29.61</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.50<BR>
29.50<BR>
37.30<BR>
35.81</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
1,027,005<BR>
1,148,313<BR>
31,215</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/19/2007<BR>
1/19/2007<BR>
1/24/2008<BR>
2/4/2008<BR>
2/29/2008</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>630,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,890,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
60,129<BR>
1,056<BR>
366</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
132,918</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
29.61</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.50<BR>
29.50<BR>
37.30<BR>
35.81<BR>
34.45</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
1,173,732<BR>
2,242,800<BR>
37,800<BR>
12,600</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/19/2007<BR>
1/19/2007</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>630,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,890,000</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
431,980</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
29.61</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.50<BR>
29.50</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
3,814,599</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/19/2007<BR>
1/19/2007</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>552,500</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,657,500</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
99,688</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
29.61</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.50<BR>
29.50</FONT></TD>
<TD WIDTH="1%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
880,295</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->



<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in columns (c), (d)&nbsp;and (e)&nbsp;provide the minimum amount, target amount and maximum amounts payable as annual incentive compensation under the YUM! Leaders' Bonus
Program based on the Company's performance and on each executive's individual performance during 2007. The actual amount of annual incentive compensation awarded for 2007 is shown in the footnotes to
column (f)&nbsp;of the Summary Compensation Table on page&nbsp;67. The performance measurements, performance targets, and target bonus percentage are described in the Compensation Discussion and
Analysis beginning on page&nbsp;52 under the discussion of annual incentive compensation.

</FONT></DD></DL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>70</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=75,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=237400,FOLIO='70',FILE='DISK135:[08ZAX1.08ZAX17101]EG17101A.;36',USER='ABEAULI',CD=';7-APR-2008;16:56' -->
<A NAME="page_eg17101_1_71"> </A>
<UL>

<!-- COMMAND=ROTATED_TABLE WIDTH="150%" -->

</UL>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect the number of RSUs each executive received with respect to the executive's deferral of his 2007 annual incentive under the Company's EID Program which
is described in more detail beginning on page&nbsp;78. The per-RSU FAS&nbsp;123R value was $37.30, $35.81 and $34.45 on January&nbsp;24, February&nbsp;4 and February 29,
respectively. There can be no assurance that the value of the common stock received upon settlement of the RSU will equal the FAS&nbsp;123R values.

</FONT></DD></DL>

<UL>

<P style="font-family:times;"><FONT SIZE=2>The
grant dates for RSUs in 2008 reflect the date of the annual incentive award determination on January&nbsp;24, 2008 by the Compensation Committee and an update to reflect changes to the annual
incentive awards on February&nbsp;4, 2008 and February&nbsp;29, 2008 as a result of updates to the Team Factor under the formula approved by the Compensation Committee. The update to the Team
Factor for February&nbsp;4, 2008 was attributable to a determination that the actual EPS growth was higher resulting in a higher 2007 annual incentive for each named executive officer. The higher
annual incentive produced a slightly larger restricted stock unit grant related to the deferral of their 2007 bonus into RSUs under the EID Program. The updated Team Factor for February&nbsp;29,
2008 was attributable to a determination that certain deductions were erroneously applied to the Team Factor for the China Division. This resulted in a higher China Division operating profit producing
a higher annual incentive for Mr.&nbsp;Su and, therefore, a slightly larger restricted stock unit grant related to the deferral of his 2007 bonus. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect the number of 2007 stock appreciation rights ("SARs") granted to executives during the Company's 2007 fiscal year. For each executive, the grants were
made January&nbsp;19, 2007. SARs become exercisable in equal installments on the first, second, third and fourth anniversaries of the grant date. (Except, however, 332,292 SARs granted to
Mr.&nbsp;Allan become exercisable on the fifth anniversary of the grant date.) The terms of each SAR grant provides that, if specified corporate control changes occur, all outstanding stock
appreciation rights become exercisable immediately. SARs allow the grantee to receive the number of shares of YUM common stock that is equal in value to the appreciation in YUM common stock with
respect to the number of SARs granted from the date of grant to the date of exercise. </FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Participants
who have attained age 55 with 10&nbsp;years of service who terminate employment may exercise SARs that were vested on their date of termination through the expiration date of the stock
appreciation right (generally, the tenth anniversary following the SARs grant date). Vested SARs of grantees who die may also be exercised by the grantee's beneficiary through the expiration date of
the vested SARs and the grantees unvested SARs expire on the grantees' death. If a grantee's employment is terminated due to gross misconduct, the entire award is forfeited. For other employment
terminations, all SARs expire upon termination of employment. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>There
can be no assurance that the SARs will ever be exercised (in which case no value will be realized by the executive) or that the value upon exercise will equal the FAS&nbsp;123R value. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
exercise price of all SARs granted in 2007 equals the average of the high and low of YUM common stock on the grant date, January&nbsp;19, 2007. The exercise price of the SARs as
reported under column (h)&nbsp;was greater than the closing price of YUM common stock on the grant date as reported under column (i).


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect the full grant date fair value under FAS&nbsp;123R of the RSUs shown in column (f)&nbsp;and the SARs shown in column (g). These amounts reflect the
Company's accounting expense and do not correspond to the actual value that will be recognized by the named executives. The full grant date fair value is the amount that the Company is expensing in
its financial statements over the award's vesting schedule. For RSUs, fair value is equal to the closing price of the Company's common stock on the date of grant. For SARs, fair value was calculated
using the Black Scholes value on the grant date of $8.83. For additional information regarding valuation assumptions of SARs, see footnote 3 to the Summary Compensation Table on page&nbsp;66.


</FONT></DD></DL>
<BR>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>71</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="page_ei17101_1_72"> </A>


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 </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ei17101_outstanding_equity_awards_at_fiscal_year-end"> </A>
<A NAME="toc_ei17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows the number of shares covered by exercisable and unexercisable stock options, SARs and unvested RSUs held by the Company's named
executive officers on December&nbsp;31, 2007. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=14 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option Awards(1)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Stock Awards<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=12 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR>
&nbsp;&nbsp;(a)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Securities<BR>
Underlying<BR>
Unexercised<BR>
Options (#)<BR>
Exercisable<BR>
(b)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Securities<BR>
Underlying<BR>
Unexercised<BR>
Options (#)<BR>
Unexercisable<BR>
(c)<BR> </B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option<BR>
Exercise<BR>
Price ($)<BR>
(d)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option<BR>
Expiration<BR>
Date<BR>
(e)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Shares or Units<BR>
of Stock That<BR>
Have Not<BR>
Vested (#)<BR>
(f) (2)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Market<BR>
Value of<BR>
Shares or<BR>
Units of<BR>
Stock That<BR>
Have Not<BR>
Vested ($)<BR>
(g)<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=14 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>309,964<BR>
1,239,856<BR>
1,012,960<BR>
802,696<BR>
824,574<BR>
439,450<BR>
227,636<BR>
129,494<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
146,484<BR>
227,636<BR>
388,484<BR>
490,960</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR><BR><BR><BR><BR>(i)<BR>(ii)<BR>(iii)<BR>(iv)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5.70<BR>
8.62<BR>
8.39<BR>
12.20<BR>
12.16<BR>
17.23<BR>
22.53<BR>
24.47<BR>
29.61</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/25/2011<BR>
1/25/2011<BR>
1/25/2011<BR>
12/31/2011<BR>
1/23/2013<BR>
1/27/2014<BR>
1/28/2015<BR>
1/26/2016<BR>
1/19/2017</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
3,084</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
118,022</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>59,616<BR>
145,308<BR>
131,092<BR>
61,808<BR>
70,090<BR>
&#151;<BR>
40,650<BR>
39,024<BR>
31,079<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
29,020<BR>
13,550<BR>
39,024<BR>
93,237<BR>
116,302</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR><BR><BR><BR><BR>(i)<BR>(i)<BR>(ii)<BR>(iii)<BR>(iv)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11.74<BR>
7.57<BR>
8.39<BR>
12.20<BR>
12.16<BR>
17.23<BR>
17.23<BR>
22.53<BR>
24.47<BR>
29.61</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/21/2009<BR>
1/27/2010<BR>
1/25/2011<BR>
12/31/2011<BR>
1/23/2013<BR>
1/27/2014<BR>
1/27/2014<BR>
1/28/2015<BR>
1/26/2016<BR>
1/19/2017</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
23,013</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
880,709</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>144,780<BR>
224,564<BR>
143,008<BR>
96,324<BR>
75,316<BR>
72,178<BR>
98,950<BR>
&#151;<BR>
87,891<BR>
65,039<BR>
31,079<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
58,040<BR>
29,297<BR>
65,039<BR>
93,237<BR>
132,918</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR><BR><BR><BR><BR><BR><BR>(i)<BR>(i)<BR>(ii)<BR>(iii)<BR>(iv)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11.74<BR>
7.57<BR>
8.39<BR>
12.20<BR>
13.28<BR>
13.86<BR>
12.16<BR>
17.23<BR>
17.23<BR>
22.53<BR>
24.47<BR>
29.61</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/21/2009<BR>
1/27/2010<BR>
1/25/2011<BR>
12/31/2011<BR>
1/24/2012<BR>
9/30/2012<BR>
1/23/2013<BR>
1/27/2014<BR>
1/27/2014<BR>
1/28/2015<BR>
1/26/2016<BR>
1/19/2017</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
904</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
34,606</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>72</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=77,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=516829,FOLIO='72',FILE='DISK135:[08ZAX1.08ZAX17101]EI17101A.;34',USER='ABEAULI',CD=';7-APR-2008;16:56' -->
<A NAME="page_ei17101_1_73"> </A>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=14 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option Awards(1)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Stock Awards<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=12 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR>
&nbsp;&nbsp;(a)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Securities<BR>
Underlying<BR>
Unexercised<BR>
Options (#)<BR>
Exercisable<BR>
(b)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Securities<BR>
Underlying<BR>
Unexercised<BR>
Options (#)<BR>
Unexercisable<BR>
(c)<BR> </B></FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option<BR>
Exercise<BR>
Price ($)<BR>
(d)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option<BR>
Expiration<BR>
Date<BR>
(e)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Shares or Units<BR>
of Stock That<BR>
Have Not<BR>
Vested (#)<BR>
(f) (2)<BR> </B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Market<BR>
Value of<BR>
Shares or<BR>
Units of<BR>
Stock That<BR>
Have Not<BR>
Vested ($)<BR>
(g)<BR> </B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=14 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>84,404<BR>
89,420<BR>
198,144<BR>
125,132<BR>
84,284<BR>
75,316<BR>
86,582<BR>
76,322<BR>
&#151;<BR>
87,891<BR>
54,200<BR>
31,079<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
58,040<BR>
29,297<BR>
54,200<BR>
93,237<BR>
99,688<BR>
332,292</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR><BR><BR><BR><BR><BR><BR><BR>(i)<BR>(i)<BR>(ii)<BR>(iii)<BR>(iv)<BR>(v)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6.81<BR>
11.74<BR>
7.57<BR>
8.39<BR>
12.20<BR>
13.28<BR>
12.16<BR>
13.10<BR>
17.23<BR>
17.23<BR>
22.53<BR>
24.47<BR>
29.61<BR>
29.61</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/20/2008<BR>
1/21/2009<BR>
1/27/2010<BR>
1/25/2011<BR>
12/31/2011<BR>
1/24/2012<BR>
1/23/2013<BR>
5/15/2013<BR>
1/27/2014<BR>
1/27/2014<BR>
1/28/2015<BR>
1/26/2016<BR>
1/19/2017<BR>
1/19/2017</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
31,036</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
1,187,750</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>264,192<BR>
178,760<BR>
160,540<BR>
37,660<BR>
164,916<BR>
131,835<BR>
75,879<BR>
31,079<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
&#151;<BR>
43,945<BR>
75,879<BR>
93,237<BR>
99,688</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR><BR><BR><BR><BR>(i)<BR>(ii)<BR>(iii)<BR>(iv)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$<BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>7.57<BR>
8.39<BR>
12.20<BR>
13.28<BR>
12.16<BR>
17.23<BR>
22.53<BR>
24.47<BR>
29.61</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1/27/2010<BR>
1/25/2011<BR>
12/31/2011<BR>
1/24/2012<BR>
1/23/2013<BR>
1/27/2014<BR>
1/28/2015<BR>
1/26/2016<BR>
1/19/2017</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Except
as provided below, all options and stock appreciation rights listed above vest at a rate of 25% per year over the first four years of the ten-year option term. In
the case of Mr.&nbsp;Novak, options expiring in 2011 with option exercise prices of $5.70 and $8.62 were granted in 1997 with an approximately 14&nbsp;year term and vested in 2006. They are now
fully vested. With respect to other named executive officers, grants with expiration dates in 2008, 2009 and 2010 as well as grants expiring on September&nbsp;30, 2012 for Mr.&nbsp;Su,
May&nbsp;15, 2013 for Mr.&nbsp;Allan and the first grant listed as expiring on January&nbsp;27, 2014 for Messrs.&nbsp;Carucci, Su and Allan were granted with 100% vesting after four years.

</FONT></DD></DL>

<UL>

<P style="font-family:times;"><FONT SIZE=2>The
actual vesting dates for unexercisable award grants are as follows: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
unexercisable shares vested on January&nbsp;27, 2008.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>One-half
of the unexercisable shares will vest on each of January&nbsp;28, 2008 and 2009.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>One-third
of the unexercisable shares will vest on each of January&nbsp;26, 2008, 2009 and 2010.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>One-fourth
of the unexercisable shares will vest on each of January&nbsp;19, 2008, 2009, 2010 and 2011.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
unexercisable shares will vest on January&nbsp;19, 2012.

<BR><BR></FONT></DD></DL>
</UL>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column represent RSUs that have not vested. Beginning on page&nbsp;78 is a discussion of how these restricted units are awarded and their terms.


</FONT></DD></DL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>73</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=78,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=508321,FOLIO='73',FILE='DISK135:[08ZAX1.08ZAX17101]EI17101A.;34',USER='ABEAULI',CD=';7-APR-2008;16:56' -->
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="page_ek17101_1_74"> </A>


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 </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ek17101_option_exercises_and_stock_vested"> </A>
<A NAME="toc_ek17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>OPTION EXERCISES AND STOCK VESTED    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below shows the number of shares of YUM common stock acquired during 2007 upon exercise of stock options and vesting of stock awards in the form of
RSUs, each before payment of applicable withholding taxes and broker commissions. </FONT></P>

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<TABLE WIDTH="91%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option Awards</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Stock Awards</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Shares<BR>
Acquired on<BR>
Exercise (#)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Value<BR>
Realized on<BR>
Exercise ($)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Shares<BR>
Acquired on<BR>
Vesting (#)(1)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Value<BR>
Realized on<BR>
Vesting ($)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>(a)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(b)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(d)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(e)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="41%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,193,172</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>36,746,463</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>304,753</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11,900,437</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="41%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>84,404</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,297,308</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,713</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>197,641</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="41%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>220,184</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,838,089</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>68,554</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,188,844</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="41%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>34,931</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,028,355</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="41%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>364,964</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>8,722,176</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->



<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>These
amounts represent RSUs that became vested in 2007. These shares will be distributed in accordance with the deferral election made by the named executive officer under the EID
Program. See page&nbsp;78 for a discussion of the EID Program.

 </FONT></DD></DL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ek17101_pension_benefits"> </A>
<A NAME="toc_ek17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>PENSION BENEFITS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below shows the present value of accumulated benefits payable to each of the named executive officers, including the number of years of service credited
to each such named executive officer, under the YUM! Brands Retirement Plan ("Retirement Plan") and the YUM! Brands,&nbsp;Inc. Pension Equalization Plan ("Pension Equalization Plan") or the YUM!
Brands International Retirement Plan determined using interest rate and mortality rate assumptions consistent with those used in the Company's financial statements. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>2007 Fiscal Year Pension Benefits Table</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="28%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Plan Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Years of<BR>
Credited<BR>
Service<BR>
(#)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="16%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Present Value<BR>
of Accumulated<BR>
Benefit(4)<BR>
($)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Payments<BR>
during Last<BR>
Fiscal Year<BR>
($)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>(a)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="28%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>(b)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="16%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(d)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(e)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Retirement Plan(1)<BR>
Pension Equalization Plan(2)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>21<BR>
21</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>525,600<BR>
8,739,926</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Retirement Plan<BR>
Pension Equalization Plan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>23<BR>
23</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>373,415<BR>
1,158,684</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>International Retirement Plan(3)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>18</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,571,908</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Retirement Plan<BR>
Pension Equalization Plan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4<BR>
4</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>*<BR>*</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>112,846<BR>
474,713</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Retirement Plan<BR>
Pension Equalization Plan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>9<BR>
9</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>*<BR>*</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>301,040<BR>
1,880,517</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;<BR>
&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->



<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Under
these plans, Messrs.&nbsp;Allan and Hearl only receive credited service for their U.S. based service. Mr.&nbsp;Allan was based outside the U.S. for 11&nbsp;years.
Mr.&nbsp;Hearl was based outside the U.S. for eight years. During that time neither accrued a benefit under any retirement plan based upon final compensation or years of service like these plans.

 </FONT></DD></DL>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>74</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=79,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=781332,FOLIO='74',FILE='DISK135:[08ZAX1.08ZAX17101]EK17101A.;42',USER='ABEAULI',CD=';7-APR-2008;16:59' -->
<A NAME="page_ek17101_1_75"> </A>


<P style="font-family:times;"><FONT SIZE=2><B>(1)&nbsp;&nbsp;&nbsp;YUM! Brands Retirement Plan  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Retirement Plan and the YUM! Brands&nbsp;Inc. Pension Equalization Plan (discussed below) provide an integrated program of retirement benefits for salaried
employees that were hired by the Company prior to October&nbsp;1, 2001. Both plans apply the same formulas (except as noted below), and together they replace the same level of
pre-retirement pensionable earnings for all similarly situated participants. The Retirement Plan is a tax qualified plan, and it is designed to provide the maximum possible portion of this
integrated benefit on a tax qualified and funded basis. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Benefit Formula  </I></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefits under the Retirement Plan are based on a participant's Final Average Earnings (subject to the limits under Internal Revenue Code
Section&nbsp;401(a)(17)) and service under the plan. Upon termination of employment, a participant's Normal Retirement Benefit from the plan is equal to

 </FONT>

</P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>A.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>3%
of Final Average Earnings times Projected Service up to 10, plus
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>B.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>1%
of Final Average Earnings times Projected Service in excess of 10, minus
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>C.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>.43%
of Final Average Earnings up to Social Security covered compensation multiplied by Projected Service up to 35 </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>the
result of which is multiplied by a fraction the numerator of which is actual service as of date of termination and the denominator of which is the participant's Projected Service. Projected
Service is the service that the participant would have earned if he had remained employed with the Company until his Normal Retirement Age (generally age 65). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a participant leaves employment after becoming eligible for Early or Normal Retirement, benefits are calculated using the formula above except that actual service attained at the
participant's retirement date is used in place of Projected Service. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Final Average Earnings  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant's Final Average Earnings is determined based on his highest 5 consecutive years of pensionable earnings. Pensionable earnings is the sum of the
participant's base pay and annual incentive compensation from the Company, including amounts under the YUM! Leaders' Bonus Program. In general base pay includes salary, vacation pay, sick pay, short
term disability payments and commission payments. Extraordinary bonuses and lump sum payments made in connection with a participant's termination of employment are not included. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Vesting  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant receives a year of vesting service for each year of employment with the Company. A participant is 0% vested until he has been credited with at least
5&nbsp;years of vesting service. Upon attaining 5&nbsp;years of vesting service, a participant becomes 100% vested. All the named executive officers are vested. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><I>Normal Retirement Eligibility  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant is eligible for Normal Retirement following the later of age 65 or 5&nbsp;years of vesting service. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Early Retirement Eligibility and Reductions  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant is eligible for Early Retirement following the later of age 55 or 10&nbsp;years of vesting service. A participant who has met the requirements for
Early Retirement and who elects to begin receiving payments from the plan prior to age 62 will receive a reduction of <SUP>1</SUP>/<SMALL>12</SMALL> of 4% for each month benefits begin before age 62. Benefits
are unreduced at age 62. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>75</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=80,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=258981,FOLIO='75',FILE='DISK135:[08ZAX1.08ZAX17101]EK17101A.;42',USER='ABEAULI',CD=';7-APR-2008;16:59' -->
<A NAME="page_ek17101_1_76"> </A>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
table below shows when each of the named executive officers will be eligible or became eligible for Early Retirement and the estimated lump sum value of the benefit each participant
would receive from the YUM plans (both qualified and non-qualified) if he retired from the Company at that time and received a lump sum payment. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="94%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="22%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Earliest<BR>
Retirement<BR>
Date</B></FONT><BR></TH>
<TH WIDTH="5%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="15%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Estimated Lump<BR>
Sum from the<BR>
Qualified Plan(1)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="19%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Estimated Lump<BR>
Sum from the<BR>
Non-Qualified Plan(2)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total<BR>
Estimated<BR>
Lump Sum</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=9 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="22%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>November&nbsp;1, 2007</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>901,584</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15,094,118</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15,995,702</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="22%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>July&nbsp;1, 2012</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>843,766</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,903,775</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,747,541</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="22%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>May&nbsp;1, 2007</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,571,908</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,571,908</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="22%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>May&nbsp;1, 2010</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>393,680</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,817,657</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,211,337</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="22%" style="font-family:times;"><FONT SIZE=2>Hearl(4)</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>March&nbsp;31, 2008</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>435,879</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,723,868</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,159,747</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
YUM! Brands Retirement Plan
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Su's
benefit is paid solely from the YUM! Brands International Retirement Plan. All other non-qualified benefits are paid from the YUM! Brands&nbsp;Inc.
Pension Equalization Plan.

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Novak
attained age 55 in October 2007 and became eligible for Early Retirement. The plan's valuation date for purposes of determining benefits is September&nbsp;30, 2007.
Under SEC rules, this means the benefit described in the Pension Benefits Table for Mr.&nbsp;Novak does not reflect his attaining Early Retirement but reports the accumulated benefit as of
September&nbsp;30, 2007.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Mr.&nbsp;Hearl
retired from the Company on March&nbsp;31, 2008. This represents the actual lump sum amount payable to him under the plans as of his retirement date. The portion
payable from the Pension Equalization Plan reflects a reduction for the projected value (with interest at seven percent) of contributions made to the Australian social security program while
Mr.&nbsp;Hearl was a participant in the Pension Equalization Plan.

 </FONT></DD>

</DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Estimated
lump sum values in the table above assume that each participant continues in an eligible position until his earliest retirement date and receives a lump sum payment from all
plans at that time. The calculations also assume no increase in the participant's Final Average Earnings. The lump sums are estimated using the mortality table and interest assumption as used for
purposes of financial accounting. Actual lump sums may be higher or lower depending on the mortality table and interest rate in effect at the time of distribution and the participant's Final Average
Earnings at his date of retirement. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Termination of Employment Prior to Retirement  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a participant terminates employment, either voluntarily or involuntarily, prior to meeting eligibility for Early or Normal Retirement, benefits will be
actuarially reduced from age 65 to his early commencement date using the mortality rates in the YUM! Brands Retirement Plan and an interest rate equal to 7% (e.g.,&nbsp;this results in a 62.97%
reduction at age 55). In addition, the participant may NOT elect to receive his benefit in the form of a lump sum. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>Lump Sum Availability  </I></FONT></P>

<P style="font-family:times;">

<FONT SIZE=2>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lump sum payments are available to participants who meet the requirements for Early or Normal Retirement. Participants who leave the Company prior to meeting the
requirements for Early or Normal Retirement must take their benefits in the form of a monthly annuity and no lump sum is available. When a lump sum is paid from the plan, it is calculated based on
actuarial assumptions for lump sums required by Internal Revenue Code Section&nbsp;417(e)(3) (currently this is the annual 30-year Treasury rate for the 2nd&nbsp;month preceding the
date of distribution and the





gender blended 1994 Group Annuity Reserving Table as set forth in Revenue Ruling 2001-62).

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>76</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ek17101_1_77"> </A>

<P style="font-family:times;"><FONT SIZE=2><B>(2)&nbsp;&nbsp;&nbsp;YUM! Brands&nbsp;Inc. Pension Equalization Plan  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The YUM! Brands&nbsp;Inc. Pension Equalization Plan is an unfunded, non-qualified plan that complements the YUM! Brands Retirement Plan by providing
benefits that federal tax law bars providing under the Retirement Plan. Benefits are generally determined and payable under the same terms and conditions as the Retirement Plan (except as noted below)
without regard to federal tax limitations on amounts of includible compensation and maximum benefits. Benefits paid are reduced by the value of benefits payable under the Retirement Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participants
who earned at least $75,000 during calendar year 1989 are eligible to receive benefits calculated under the Retirement Plan's pre-1989 formula, if this
calculation results in a larger benefit from the YUM! Brands&nbsp;Inc. Pension Equalization Plan. Messrs.&nbsp;Novak, Carucci, Allan and Hearl qualify for benefits under this formula. This formula
is similar to the formula described above under the Retirement Plan except that part&nbsp;C of the formula is calculated as follows: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>C.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>1<SUP>2</SUP>/<SMALL>3</SMALL>%
of an estimated primary Social Security amount multiplied by Projected Service up to 30 </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retirement
distributions are always paid in the form of a lump sum. In the case of a participant whose benefits are payable based on the pre-1989 formula, the lump sum value
is calculated as the actuarial equivalent to the participant's 50% Joint and Survivor Annuity with no reduction for survivor coverage. In all other cases, lump sums are calculated as the actuarial
equivalent of the participant's life only annuity. Participants who terminate employment prior to meeting eligibility for Early or Normal Retirement must take their benefits from this plan in the form
of a monthly annuity. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>(3)&nbsp;&nbsp;&nbsp;YUM! Brands International Retirement Plan  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The YUM! Brands International Retirement Plan (the "YIRP") is an unfunded, non-qualified defined benefit plan that covers certain international
employees who are designated by the Company as third country nationals. Mr.&nbsp;Su is eligible for benefits under this Plan. The YIRP provides a retirement benefit similar to the Retirement Plan
except that part&nbsp;C of the formula is calculated as the sum of: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Company
financed State benefits or Social Security benefits if paid periodically
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
actuarial equivalent of all State paid or mandated lump sum benefits financed by the Company
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>c)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Any
other Company financed benefits that are attributable to periods of pensionable service and that are derived from a plan maintained or contributed to by the Company or one or more
of the group of corporations that is controlled by the Company. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefits are payable under the same terms and conditions as the Retirement Plan without regard to Internal Revenue Service limitations on amounts of includible compensation and maximum
benefits.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>(4)&nbsp;&nbsp;&nbsp;Present Value of Accumulated Benefits  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all plans, the Present Value of Accumulated Benefits (determined as of September&nbsp;30, 2007) is calculated assuming that each participant is eligible to
receive an unreduced benefit payable in the form of a single lump sum at age 62. Also, since none of the participants have actually attained eligibility for Early or Normal Retirement (except for
Mr.&nbsp;Su), benefits are based on the formula applicable to non-retirement eligible participants as discussed above. This is consistent with the methodologies used in financial
accounting calculations. In addition, the economic assumptions for the lump sum interest rate, post retirement mortality, and discount rate are also consistent with those used in financial accounting
calculations. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>77</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ek17101_1_78"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ek17101_nonqualified_deferred_compensation"> </A>
<A NAME="toc_ek17101_3"> </A>
<BR></FONT><FONT SIZE=2><B>NONQUALIFIED DEFERRED COMPENSATION    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amounts reflected in the Nonqualified Deferred Compensation table below are provided for under the Company's Executive Income Deferral ("EID") Program, an
unfunded, unsecured deferred compensation plan. For each calendar year, participants are permitted under this program to defer up to 85% of their base pay and/or 100% of their annual incentive award. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Program Investments.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Amounts deferred under the EID Program may be invested in the following phantom investment
alternatives, which are (12&nbsp;month investment returns are shown in parenthesis): </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>YUM!
Stock Fund (32.28%),
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>YUM!
Discount Stock Fund (32.28%),

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>S&amp;P&nbsp;500
Index Fund (5.48%),

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Bond
Market Index Fund (6.81%) and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Stable
Value Fund (4.2%). </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the phantom investment alternatives offered under the EID Program are designed to match the performance of actual investments, that is, they provide market rate returns and do not
provide for preferential earnings. The S&amp;P&nbsp;500 index fund, bond market index fund and stable value fund are designed to track the investment return of like-named funds offered under
the Company's 401(k) Plan. The YUM! Stock Fund and YUM! Discount Stock Fund track the investment return of the Company's common stock. Participants may transfer funds between the investment
alternatives on a quarterly basis except (1)&nbsp;funds invested in the YUM! Stock Fund or YUM! Discount Stock Fund may not be transferred once invested in these funds and (2)&nbsp;a participant
may only elect to invest into the Discount Stock Fund at the time the annual incentive deferral election is made. In the



case of the Discount Stock Fund, participants who defer their annual incentive into this fund, acquire phantom shares (called restricted stock units ("RSUs")) at a 25% discount based on the fair
market value of the Company stock on the date that the annual incentive is deferred, which is the same date we make our annual stock appreciation right grants. (Beginning in 2008, the 25% discount is
calculated based on the closing price of the Company's stock on the date of deferral.) Amounts attributable to the 25% discount under the YUM! Discount Stock Fund are reflected in column
(c)&nbsp;below as contributions by the Company (and represent amounts actually credited to the named executive's account during 2007).

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RSUs are phantom shares of YUM stock that vest on the second anniversary of the grant (or a change of control of the Company, if earlier) and are payable as shares of YUM common stock
pursuant to the participant's deferral election. Unvested RSUs held in a participant's Discount Stock Fund account are forfeited if the participant voluntarily terminates employment with the Company
within two years of the deferral date. If a participant terminates employment involuntarily, the portion of the account attributable to the discount is forfeited and the participant will receive an
amount equal to the amount of the original amount deferred. If a participant dies or becomes disabled during the restricted period, the participant fully vests in the RSUs. Dividend equivalents are
accrued during the restricted period but are only paid if the RSUs vest. RSUs held by a participant who has attained age 65 with five years of service vest immediately. In the case of a participant
who has attained age 55 with 10&nbsp;years of service, RSUs attributable to the bonus deferral vest immediately and RSUs attributable to the discount portion vest pro rata during the period
beginning on the date of grant and ending on the first anniversary of the grant and are fully vested on the first anniversary. For each named executive, the number of RSUs awarded and their value
attributable to deferred 2007 annual incentives are set forth at columns (f)&nbsp;and (j)&nbsp;of the Grants of Plan-Based Awards table on page&nbsp;70 and are discussed in further
detail at footnotes 2 and 4 of the Summary Compensation Table beginning on page&nbsp;65.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>78</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_ek17101_1_79"> </A>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;When participants elect to defer amounts into the EID Program, they also select when the amounts ultimately
will be distributed to them. Distributions may either be made in a specific year&#151;whether or not employment has then ended&#151;or at a time that begins at or after the executive's
retirement or separation or termination of employment. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions can be made in a lump sum or up to 20 annual installments. Initial deferrals are subject to a minimum two year deferral. In general, with respect to amounts deferred after
2005 or not fully vested as of January&nbsp;1, 2005, participants may change their distribution schedule, provided the new elections satisfy the requirements of Section&nbsp;409A of the Internal
Revenue Code. In general, Section&nbsp;409A requires that:

</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Distribution
schedules cannot be accelerated (other than for a hardship)
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>To
delay a previously scheduled distribution,
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>A
participant must make an election at least one year before the distribution otherwise would be made, and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
new distribution cannot begin earlier than five years after it would have begun without the election to re-defer. </FONT></DD></DL>
</DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to amounts deferred prior to 2005, to delay a distribution the new distribution cannot begin until two years after it would have begun without the election to
re-defer. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments
in the YUM! Stock Fund and YUM! Discount Stock Fund are only distributed in shares of Company stock. </FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="94%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="29%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Executive<BR>
Contributions<BR>
in Last FY<BR>
($)(1)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Registrant<BR>
Contributions<BR>
in Last FY<BR>
($)(2)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Aggregate<BR>
Earnings in<BR>
Last FY<BR>
($)(3)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Aggregate<BR>
Withdrawals/<BR>
Distributions<BR>
($)(4)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Aggregate<BR>
Balance at<BR>
Last FYE<BR>
($)(5)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="29%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>(a)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(b)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(c)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(d)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(e)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>(f)</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:times;"><HR NOSHADE><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="29%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,347,680</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,115,893</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>16,889,305</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>416,767</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70,156,362</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="29%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>718,200</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>119,700</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>878,437</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,658</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,486,499</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="29%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>963,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>321,300</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>628,767</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,505,406</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,700,209</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="29%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,503,242</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>251,127</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,246,630</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="29%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>805,452</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,214,729</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,591,840</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:times;"><HR NOSHADE></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->


<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect amounts that were also reported as compensation in our Summary Compensation Table filed last year or would have been reported as compensation in our
Summary Compensation Table last year if the executive were a named executive officer.


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect the Company's contribution to the EID Program which is discussed beginning on page&nbsp;78. The amounts represent the value of the discount on RSUs
awarded to executives and credited to their deferral account under the program in 2007 as a result of their election to defer their 2006 annual incentive award into RSUs.


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
in this column reflect earnings during the last fiscal year on deferred amounts. All earnings are based on the investment alternatives offered under the EID Program described
in the narrative above this table. Since these earnings are market based returns, they are not reported in the Summary Compensation Table. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>79</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=84,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=849245,FOLIO='79',FILE='DISK135:[08ZAX1.08ZAX17101]EK17101A.;42',USER='ABEAULI',CD=';7-APR-2008;16:59' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:times;"><FONT SIZE=2><A
NAME="page_em17101_1_80"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:times;" -->


 </FONT></P>

<!-- TOC_END -->
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
amounts shown were distributed in accordance with the executive's deferral election, except in the case of the following amounts distributed to pay payroll taxes due upon vesting
of RSUs under the EID Program during the year:

 </FONT></DD></DL>
<BR>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="38%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>335,376</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6,658</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>18,616</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Amounts
reflected in this column are the year-end balances for each executive under the EID Program. As required under SEC rules, below is the portion of the
year-end balance for each executive which has previously been reported as compensation to the executive in the Company's Summary Compensation Table for 2007 and prior years or would have
been reported as compensation if the executive had been a named executive officer in those previous years. </FONT></DD></DL>
<BR>



<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="41%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="64%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="27%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>24,795,223</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="64%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="27%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,093,379</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="64%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="27%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,922,700</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="64%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="27%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,749,837</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="64%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="27%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>466,325</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
difference between these amounts and amount of the year-end balance for each executive represents the total aggregate earnings accumulated under the program with respect
to that compensation. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="em17101_potential_payments_upo__em102384"> </A>
<A NAME="toc_em17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL    <BR>    </B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information below describes and quantifies certain compensation that would become payable under existing plans and arrangements if the named executive's
employment had terminated on December&nbsp;31, 2007, given the named executive's compensation and service levels as of such date and, if applicable, based on the Company's closing stock price on
that date. These benefits are in addition to benefits available generally to salaried employees, such as distributions under the Company's 401(k) Plan, retiree medical benefits, disability benefits
and accrued vacation pay.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to the number of factors that affect the nature and amount of any benefits provided upon the events discussed below, any actual amounts paid or distributed may be different. Factors
that could affect these amounts include the timing during the year of any such event, the Company's stock price and the executive's age.


</FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock options and SAR awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If one or more named executive officers terminated employment for any reason other than
retirement, death, disability or following a change in control as of December&nbsp;31, 2007, they could exercise the stock options and SARs that were exercisable on that date as shown at the
Outstanding Equity Awards at Fiscal Year-End table on page&nbsp;72, otherwise all options and SARs, pursuant to their terms, would have been forfeited and cancelled after that date. If the named
executive had retired, died or become disabled as of December&nbsp;31, 2007, exercisable stock options and SARs would remain exercisable through the term of the award. Except in the case of a change
in





control, described below, no stock options or SARs become exercisable on an accelerated basis. Benefits a named executive officer may receive on a change of control are discussed below.

 </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As described in more detail beginning at page&nbsp;78, the named executives participate in the EID
Program, which permits the deferral of salary and annual incentive compensation. The last column of the Nonqualified Deferred Compensation Table on page&nbsp;79 reports each named executive's
aggregate balance at December&nbsp;31, 2007. The named executives are entitled to receive their vested amount under the EID Program in case of voluntary termination of employment. In the case of
involuntary termination of employment, they are entitled to receive their vested benefit and the amount of the unvested benefit that corresponds to their deferral. In the case of death, disability or
retirement after

</FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>80</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=85,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=234458,FOLIO='80',FILE='DISK135:[08ZAX1.08ZAX17101]EM17101A.;30',USER='ABEAULI',CD=';7-APR-2008;17:00' -->
<A NAME="page_em17101_1_81"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>


age 65, they or their beneficiaries are entitled to their entire account balance as shown in the last column of the Nonqualified Deferred Compensation table on page&nbsp;79. The amounts they would
have been entitled to in case of a voluntary or involuntary termination as of December&nbsp;31, 2007 are as follows:

</FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="63%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="59%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Voluntary Termination ($)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Involuntary Termination ($)</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=2>Novak</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70,032,338</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70,032,338</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=2>Carucci</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,592,406</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,071,206</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=2>Su</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,663,772</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,663,772</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=2>Allan</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,034,405</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,603,936</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:times;"><FONT SIZE=2>Hearl</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,591,840</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,591,840</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payouts
to the executive under the EID Program would occur in accordance with the executive's elections. In the case of amounts deferred after 2002, such payments would not begin prior
to six months following the executive's termination of employment. Executives may receive their benefit in a lump sum payment or in installment payments for up to 20&nbsp;years. Each of the named
executive officers has elected to receive payments in a lump sum. </FONT></P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension benefits.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Pension Benefits Table on page&nbsp;74 describes the general terms of each pension plan in which the
named executives participate, the years of credited service and the present value of the annuity payable to each named executive assuming termination of employment as of December&nbsp;31, 2007. The
table on page&nbsp;76 provides the present value of the lump sum benefit payable to each named executive when they attain eligibility for Early Retirement (i.e.,&nbsp;age 55 with 10&nbsp;years
of service) under the plans.

 </FONT>

</P>

<P style="font-family:times;">


<FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life insurance benefits.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;For a description of the supplemental life insurance plans that provide coverage to the named
executives, see the All Other Compensation Table on page&nbsp;69. If the named executives had died on December&nbsp;31, 2007, the survivors of Messrs.&nbsp;Novak, Carucci, Su, Allan and Hearl
would have received Company paid life insurance of $3,000,000, $1,080,000, $1,295,000, $1,260,000 and $1,203,000, respectively, under this arrangement. Executives and all other salaried employees can
purchase additional life insurance benefits up to a maximum combined company paid and additional life insurance of $3&nbsp;million. This additional benefit is not paid or subsidized by the Company
and, therefore, is not shown here.

 </FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Change in control severance agreements are in effect between YUM and certain key executives (including
Messrs.&nbsp;Novak, Carucci, Su, Allan and Hearl). These agreements are general obligations of YUM, and provide, generally, that if, within two years subsequent to a change in control of YUM, the
employment of the executive is terminated (other than for cause, or for other limited reasons specified in the change in control severance agreements) or the executive terminates employment for Good
Reason (defined in the change in control severance agreements to include a diminution of duties and responsibilities or benefits), the executive will be entitled to receive the following: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
proportionate annual incentive assuming achievement of target performance goals under the bonus plan or, if higher, assuming continued achievement of actual Company
performance until date of termination,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
severance payment equal to two times the sum of the executive's base salary and the target bonus or, if higher, the actual bonus for the year preceding the change in
control of the Company,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>outplacement
services for up to one year following termination, and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
"tax gross-up payment" which, in the event an executive becomes entitled to receive a severance payment and other severance benefits and such severance payment
and benefits are subject to an excise tax, ensures the executive will be in the same after-tax position as if no excise tax had been imposed. (Except, however, where the severance payment
to the executive will generate an excise </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>81</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=86,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=1040219,FOLIO='81',FILE='DISK135:[08ZAX1.08ZAX17101]EM17101A.;30',USER='ABEAULI',CD=';7-APR-2008;17:00' -->
<A NAME="page_em17101_1_82"> </A>
<UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>tax
but the total severance payment does not exceed by more than 10% the threshold for which the excise tax becomes payable, then no gross-up payment will be made and the executive's
severance payment will be reduced to the threshold to ensure no excise tax is payable.) </FONT></P>

</UL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, to the payments described above under the agreements, upon a change of control: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
stock options and SARs held by the executive will automatically vest and become exercisable.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
RSUs under the Company's EID Program will vest. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
change in control severance agreements have a three-year term and are automatically renewable each January&nbsp;1 for another three-year term. An executive
whose employment is not terminated within two years of a change of control will not be entitled to receive any severance payments under the change in control severance agreements. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally,
pursuant to the agreements, a change of control is deemed to occur: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>if
any person acquires 20% or more of the Company's voting securities (other than securities acquired directly from the Company or its affiliates);
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>if
a majority of the Directors as of the date of the agreement are replaced other than in specific circumstances; or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>upon
the consummation of a merger of the Company or any subsidiary of the Company other than (a)&nbsp;a merger where the Company's Directors immediately before the change in
control constitute a majority of the directors of the resulting organization, or (b)&nbsp;a merger effected to implement a recapitalization of the Company in which no person is or becomes the
beneficial owner of securities of the Company representing 20% or more of the combined voting power of the Company's then-outstanding securities. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a change of control had occurred as of December&nbsp;31, 2007, the following payments, or other benefits would have been made. </FONT></P>




<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="93%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="32%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Novak<BR>
$</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Carucci<BR>
$</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Su<BR>
$</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Allan<BR>
$</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Hearl<BR>
$</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Annual Incentive</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,742,892</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,263,780</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,719,900</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,615,950</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,271,303</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Severance Payment</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>9,335,360</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,636,400</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,327,800</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,846,466</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>2,405,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Outplacement</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>25,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Excise Tax and Gross-Up</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,381,566</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,786,016</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Accelerated Vesting of Stock Options and SARs</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>16,277,804</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3,803,757</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,299,025</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>7,718,298</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,268,909</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Accelerated Vesting of RSU's</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>119,546</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>894,094</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>35,042</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,212,225</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:times;"><FONT SIZE=2>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>30,500,602</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,004,597</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,406,767</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>15,203,955</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>7,970,212</FONT></TD>
</TR>
</TABLE>

<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>82</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=87,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=771224,FOLIO='82',FILE='DISK135:[08ZAX1.08ZAX17101]EM17101A.;30',USER='ABEAULI',CD=';7-APR-2008;17:00' -->
<A NAME="page_em17101_1_83"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="em17101_director_compensation"> </A>
<A NAME="toc_em17101_2"> </A>
<BR></FONT><FONT SIZE=2><B>DIRECTOR COMPENSATION    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described more fully below, this table summarizes compensation paid to each non-employee director during 2007. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="28%" ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Fees Earned or Paid in Cash ($)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Stock Awards ($)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Option/SAR Awards ($)(1)(2)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="15%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>All Other Compensation ($)(3)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Total ($)</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Dorman, David</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>175,903</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Ferragamo, Massimo</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>179,903</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Grissom, David</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>150,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>199,903</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Hill, Bonnie</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>67,500</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>67,500</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4,650</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>179,553</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Holland, Robert</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>184,903</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Langone, Kenneth</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>20,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>194,903</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Linen, Jonathan</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>184,903</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Nelson, Thomas</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>135,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>184,903</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Ryan, Thomas</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>140,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>189,903</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="28%" style="font-family:times;"><FONT SIZE=2>Trujillo, Jackie</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>67,500</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>67,500</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39,903</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>5,000</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>179,903</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Represents
the compensation costs for financial accounting purposes for the year under FAS&nbsp;123R. The per SAR FAS&nbsp;123R grant date fair value was $11.37 for SARs granted
in 2007 for all director grants.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><BR></DT><DD style="font-family:times;"><FONT SIZE=2>We
estimated the grant date fair value using the Black-Scholes option pricing model. We used the following assumptions in calculating the Black-Scholes fair
value for each SAR: </FONT>

</DD></DL>
<BR>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="71%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:times;"><FONT SIZE=2>Expected term of SARs in years:</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>6.0</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:times;"><FONT SIZE=2>Expected volatility percentage</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29.0%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:times;"><FONT SIZE=2>Risk free rate of return (based on five-year U.S. treasury yield average for November 2007</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>3.7%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:times;"><FONT SIZE=2>Dividend yield</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>1.6%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:times;"><FONT SIZE=2>Black-Scholes fair value per SAR</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>11.37</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->


<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>At
December&nbsp;31, 2007, the aggregate number of options and SARs awards outstanding for non-management directors was: Mr.&nbsp;Dorman 10,476 options, 8,040 SARs;
Mr.&nbsp;Ferragamo 35,894 options, 8,040 SARs; Mr.&nbsp;Grissom 15,470 options, 8,040 SARs; Ms.&nbsp;Hill 15,176 options, 8,040 SARs; Mr.&nbsp;Holland 35,894 options, 8,040 SARs;
Mr.&nbsp;Langone 35,894 options, 8,040 SARs; Mr.&nbsp;Linen 10,476 options, 8,040 SARs; Mr.&nbsp;Nelson 0 options, 13,220 SARs; Mr.&nbsp;Ryan 19,414 options, 8,040 SARs; Ms.&nbsp;Trujillo
31,334 options, 8,040 SARs. Mr.&nbsp;Novak's and Mr.&nbsp;Su's outstanding awards are set forth on page&nbsp;72.


<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Represents
amount of matching charitable contributions made on behalf of the director under the Company's matching gift program and/or the amount charitable contribution made in the
director's name. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company uses a combination of cash and stock-based incentive compensation to attract and retain qualified candidates to serve on the Board. In setting director compensation, the
Company considers the significant amount of time that directors expend in fulfilling their duties to the Company as well as the skill level required by the Company of members of the Board.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee Directors.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee directors do not receive additional compensation for serving on the Board of Directors. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>83</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Employee Directors Annual Compensation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each director who is not an employee of YUM receives an annual stock
grant retainer with a fair market value of $135,000 and an annual grant of vested SARs to buy $125,000 worth of YUM common stock at a price equal to its fair market value on the date of grant.
Directors may elect to receive up to one-half of their stock retainer in cash. Directors may also defer payment of their retainers pursuant to the Directors Deferred Compensation Plan.
Deferrals are invested in phantom Company stock and paid out in shares of Company stock. Deferrals may not be made for less than two years. In recognition of the added duties of these chairs, the
Chairperson of the Audit Committee (Mr.&nbsp;Grissom in 2007) receives an
additional $15,000 stock retainer annually and the Chairperson of the Compensation Committee (Mr.&nbsp;Ryan in 2007) receives an additional $5,000 stock retainer annually. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
September 2006, the Compensation Committee of the Board of Directors completed a review of compensation for non-employee directors. The review included an analysis of the
most recent proxy statements of several large retailers and consideration of Fortune 500, 200 and 100 survey data. Based on the analysis which showed director compensation below the median by 10% to
15% and the increased responsibility and time commitment associated with Board and Committee service (particularly for Audit Committee members), the Board approved the Compensation Committee's
recommendation to revise the compensation of non-employee directors by increasing the stock grant retainer by $35,000 to $135,000. After the compensation increase the total director
compensation package was 8% above the median. The Board of Directors also agreed that no changes will be made to the board pay package in 2007. Therefore, the adjustment was made to insure
competitiveness for two years. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Initial Stock Grant upon Joining Board.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Non-employee directors also receive a one-time stock grant
with a fair market value of $25,000 on the date of grant upon joining the Board, distribution of which is deferred until termination from the Board. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Ownership Requirements.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Similar to executive officers, directors are subject to share ownership requirements. The
directors' requirements provide that directors will not sell any of the Company's common stock received as compensation for service on the Board until the director has ceased being a member of the
Board for one year. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matching Gifts.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To further YUM's support for charities, non-employee directors are able to participate in the
YUM! Brands,&nbsp;Inc. Matching Gifts Program on the same terms as YUM's employees. Under this program, the YUM! Brands Foundation will match up to $10,000 a year in contributions by the director to
a charitable institution approved by the YUM! Brands Foundation. At its discretion, the Foundation may match director contributions exceeding $10,000. In 2007, the Foundation matched $20,000 of
Mr.&nbsp;Langone's contributions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We also pay the premiums on directors' and officers' liability and business travel accident insurance policies.
The annual cost of this coverage is approximately $2.5&nbsp;million. This is not included in the tables above as it is not considered compensation to the directors. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="em17101_audit_committee_report"> </A>
<A NAME="toc_em17101_3"> </A>
<BR></FONT><FONT SIZE=2><B>AUDIT COMMITTEE REPORT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who serves on the Audit Committee of the Board of Directors?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The members of the Audit Committee are J. David Grissom, Chair, Robert Holland, Jr., Kenneth G. Langone, Jonathan S. Linen and Thomas C. Nelson. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors has determined that each member of the Committee is "independent" within the meaning of the applicable rules of both the NYSE and the SEC. The Board of Directors
has also determined that each member of the Committee is financially literate and that J. David Grissom has accounting or related financial management expertise, as such qualifications are defined
under the rules of the NYSE. In addition, the Board determined that J. David Grissom is an "audit committee financial expert" within the meaning of the rules of the SEC. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>84</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><B><I>What document governs the activities of the Audit Committee?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee operates under a written charter adopted by the Board of Directors. The Committee's responsibilities are set forth in this charter, which was
amended and restated effective March&nbsp;16, 2006. The charter is reviewed by management at least annually, and any recommended changes are presented to the Audit Committee for review and approval.
The charter is available on our Web site at </FONT><FONT SIZE=2><I>www.yum.com/governance</I></FONT><FONT SIZE=2>.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What are the responsibilities of the Audit Committee?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee assists the Board in fulfilling its responsibilities for general oversight of the integrity of the Company's financial statements, the
adequacy of the Company's system of internal controls and procedures and disclosure controls and procedures, the Company's risk management, the Company's compliance with legal and regulatory
requirements, the independent auditors' qualifications and independence and the performance of the Company's internal audit function and independent auditors. The Committee has sole authority over the
selection of the Company's independent auditors and manages the Company's relationship with its independent auditors (who report directly to the Committee). The Committee has the authority to obtain
advice and assistance from outside legal, accounting or other advisors as the Committee deems necessary to carry out its duties and receive appropriate funding, as determined by the Committee, from
the Company for such advice and assistance. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee met nine times during 2007. The Committee schedules its meetings with a view to ensuring that it devotes appropriate attention to all of its tasks. The Committee's meetings
include private sessions with the Company's independent auditors and with the Company's internal auditors, in each case without the presence of the Company's management, as well as executive sessions
consisting of only Committee members. The Committee also meets with senior management from time to time. In addition to the scheduled meetings, senior management confers with the Committee or its
Chair from time to time, as senior management deems advisable or appropriate, in connection with issues or concerns that arise throughout the year.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management
is responsible for the Company's financial reporting process, including its system of internal control over financial reporting, and for the preparation of consolidated
financial statements in accordance with accounting principles generally accepted in the United States of America. The Company's independent auditors are responsible for auditing those financial
statements in accordance with professional standards and expressing an opinion as to their material conformity with U.S. generally accepted accounting principles and for auditing the effectiveness of
the Company's internal control over financial reporting. The Committee's responsibility is to monitor and review the Company's financial reporting process and discuss management's report on the
Company's internal control over financial reporting. It is not the Committee's duty or responsibility to conduct audits or accounting reviews or procedures. The Committee has relied, without
independent verification, on management's representation that the financial statements have been prepared with integrity and objectivity and in conformity with accounting principles generally accepted
in the United States of America and on the opinion of the independent auditors included in their report on the Company's financial statements. The Committee has also relied, without independent
verification, on management's representation that the Company's internal control over financial reporting is effective and on the opinion of the independent auditors included in their report on the
Company's internal control over financial reporting. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What matters have members of the Audit Committee discussed with management and the independent auditors?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As part of its oversight of the Company's financial statements, the Committee reviews and discusses with both management and the Company's independent auditors
all annual and quarterly financial statements prior to their issuance. During 2007, management advised the Committee that each set of

</FONT>

</P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>85</FONT></P>

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<BR>

<P style="font-family:times;"><FONT SIZE=2>


financial statements reviewed had been prepared in accordance with accounting principles generally accepted in the United States of America, and reviewed significant accounting and disclosure issues
with the Committee. These reviews include discussions with the independent auditors of matters required to be discussed pursuant to </FONT><FONT SIZE=2><I>Statement on Auditing Standards
No.&nbsp;61 (Communications with Audit Committees)</I></FONT><FONT SIZE=2>, including the quality (not merely the acceptability) of the Company's accounting principles, the reasonableness of
significant judgments, the clarity of disclosures in the financial statements and disclosures related to critical accounting practices. The Committee has also discussed with KPMG&nbsp;LLP matters
relating to its independence, including a review of audit and non-audit fees and written disclosures from KPMG&nbsp;LLP to the Committee pursuant to </FONT><FONT SIZE=2><I>Independence
Standards Board Standard No.&nbsp;1 (Independence Discussions with Audit Committees).</I></FONT><FONT SIZE=2> The Committee also considered whether non-audit services provided by the
independent auditors are compatible with the independent auditors' independence. The Committee also received regular updates, and written summaries as required by the Public Company Accounting
Oversight Board rules (for tax services), on the amount of fees and scope of audit, audit-related and tax services provided.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Committee reviewed key initiatives and programs aimed at strengthening the effectiveness of the Company's internal and disclosure control structure. As part of this
process, the Committee continued to monitor the scope and adequacy of the Company's internal auditing program, reviewing staffing levels and steps taken to implement recommended improvements in
internal procedures and controls. The Committee also reviews and discusses legal and compliance matters with management, and, as necessary or advisable, the Company's independent auditors. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Has the Audit Committee made a recommendation regarding the audited financial statements for fiscal 2007?  </I></B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the Committee's discussions with management and the independent auditors and the Committee's review of the representations of management and the report
of the independent auditors to the Board of Directors, and subject to the limitations on the Committee's role and responsibilities referred to above and in the Audit Committee Charter, the Committee
recommended to the Board of Directors that it include the audited consolidated financial statements in the Company's Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;29, 2007 for filing with the SEC. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who prepared this report?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This report has been furnished by the members of the Audit Committee: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="63%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>J. David Grissom, Chairperson</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>Robert Holland, Jr.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>Kenneth G. Langone</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>Jonathan S. Linen</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>Thomas C. Nelson</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="em17101_additional_information"> </A>
<A NAME="toc_em17101_4"> </A>
<BR></FONT><FONT SIZE=2><B>ADDITIONAL INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>Who pays the expenses incurred in connection with the solicitation of proxies?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses in connection with the solicitation of proxies will be paid by us. Proxies are being solicited principally by mail, by telephone and through the
Internet. We have retained Georgeson&nbsp;Inc. to act as a proxy solicitor for a fee estimated to be $10,000, plus reimbursement of out-of-pocket expenses. In addition, our
directors, officers and regular employees, without additional compensation, may solicit proxies personally, by e-mail, telephone, fax or special letter. We will reimburse brokerage firms
and others for their expenses in forwarding proxy materials to the beneficial owners of our shares. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>How may I elect to receive shareholder materials electronically and discontinue my receipt of paper copies?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YUM shareholders with shares registered directly in their name may elect to receive future annual reports and proxy statements from us and to vote their shares
through the Internet instead of receiving </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>86</FONT></P>

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<BR>

<P style="font-family:times;"><FONT SIZE=2>copies
through the mail. We are offering this service to provide shareholders with added convenience and to reduce annual report printing and mailing costs. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
take advantage of this option, shareholders must subscribe to one of the various commercial services that offer access to the Internet. Costs normally associated with electronic
access, such as usage and telephone charges, will be borne by the shareholder. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To elect this option, go to </FONT><FONT SIZE=2><I>www.amstock.com</I></FONT><FONT SIZE=2>, click on Shareholder Account Access, log-in and locate the option to Receive
Company Mailing via e-Mail. Shareholders who elect this option will be notified each year by e-mail how to access the proxy materials and how to vote their shares on the
Internet.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you consent to receive future proxy materials electronically, your consent will remain in effect unless it is withdrawn by writing our Transfer Agent, American Stock Transfer and
Trust Company, 59&nbsp;Maiden Lane, New York, NY 10038 or by logging onto our Transfer Agent's website at </FONT><FONT SIZE=2><I>www.amstock.com</I></FONT><FONT SIZE=2> and following the applicable
instructions. Also, while this consent is in effect, if you decide you would like to receive a hard copy of the proxy materials, you may call, write or e-mail American Stock Transfer and
Trust Company.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>What is "Householding" of proxy materials?  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has adopted a procedure called "householding" which has been approved by the SEC. The Company and some brokers household proxy materials, delivering a
single annual report and proxy statement to multiple shareholders sharing an address unless contrary instructions have been received from the affected shareholders or they participate in electronic
delivery of proxy materials. Shareholders who participate in householding will continue to receive separate proxy cards. This process will help reduce our printing and postage fees, as well as save
natural resources. If, at any time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement, or if you are receiving multiple copies of the proxy
statement and wish to receive only one, please notify your broker if your shares are held in a brokerage account or us if you hold registered shares. You can notify us by sending a written request to
YUM! Brands,&nbsp;Inc., Investor Relations, 1441
Gardiner Lane, Louisville, KY 40213 or by calling Investor Relations at 1 (888)&nbsp;439-4986 or by sending an e-mail to yum.investor@yum.com. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I>May I propose actions for consideration at next year's annual meeting of shareholders or nominate individuals to serve as directors?  </I></B></FONT></P>

<P style="font-family:times;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the rules of the SEC, if a shareholder wants us to include a proposal in our proxy statement and proxy card for presentation at our 2009 Annual Meeting of
Shareholders, the proposal must be received by us at our principal executive offices at YUM! Brands,&nbsp;Inc., 1441 Gardiner Lane, Louisville, Kentucky 40213 by December&nbsp;5, 2008. The
proposal should be sent to the attention of Corporate Secretary.

</FONT>

</P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
our By-laws, certain procedures are provided that a shareholder must follow to nominate persons for election as directors or to introduce an item of business at an
Annual Meeting of Shareholders. These procedures provide that nominations for director nominees and/or an item of business to be introduced at an Annual Meeting of Shareholders must be submitted in
writing to our Corporate Secretary at our principal executive offices. We must receive the notice of your intention to introduce a nomination or to propose an item of business at our 2009 Annual
Meeting no later than 90&nbsp;days in advance of the 2009 Annual Meeting if it is being held within 30&nbsp;days before or after the anniversary of the date (May&nbsp;15, 2008) of this year's
Meeting. For any other meeting, the nomination or item of business must be received by the tenth day following the date of public disclosure of the date of the meeting. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Annual Meeting of Shareholders is generally held on the third Thursday of May. Assuming that our 2009 Annual Meeting is held on schedule, we must receive notice of your intention to
introduce a nomination or other item of business at that meeting by February&nbsp;14, 2009. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>87</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
nomination must contain the following information about the nominee: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>name;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>age;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>business
and residence addresses;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>principal
occupation or employment;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the
number of shares of common stock beneficially owned by the nominee;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
description of all arrangements or understandings between such shareholder and each proposed nominee and any other person or persons (including their names) pursuant to
which the nomination(s) are to be made by such shareholder;


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
representation that such shareholder intends to appear in person or by proxy at the annual meeting to nominate the persons named in its notice;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the
information that would be required under the rules of the SEC in a proxy statement soliciting proxies for the election of such nominee as a director; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
signed consent of the nominee to serve as a director of the Company, if elected. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice
of a proposed item of business must include:

 </FONT></P>

<UL>
<DL compact>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
brief description of the substance of, and the reasons for conducting, such business at the annual meeting;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the
shareholder's name and address as they appear on our records;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the
number of shares of common stock beneficially owned by the shareholder (with supporting documentation where appropriate);
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>any
material interest of the shareholder in such business;

<BR><BR></FONT></DD>

<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
description of all arrangements or understandings between such shareholder and any other person or persons (including their names) in connection with the proposal of such
business by such shareholder and any material interest of such shareholder in such business; and


<BR><BR></FONT></DD>



<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>a
representation that such shareholder intends to appear in person or by proxy at the annual meeting to bring such business before the meeting.

</FONT></DD>

</DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board is not aware of any matters that are expected to come before the 2008 Annual Meeting other than those referred to in this Proxy Statement. If any other matter should come
before the Annual Meeting, the individuals named on the form of proxy intend to vote the proxies in accordance with their best judgment.


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
chairman of the Meeting may refuse to allow the transaction of any business, or to acknowledge the nomination of any person, not made in compliance with the foregoing procedures. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bylaw Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;You may contact YUM's Corporate Secretary at the address mentioned above for a copy of the relevant Bylaw
provisions regarding the requirements for making shareholder proposals and nominating director candidates. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>88</FONT></P>

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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="ku17101_appendix_1"> </A>
<A NAME="toc_ku17101_1"> </A>
<BR></FONT><FONT SIZE=2><B>Appendix&nbsp;1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>YUM! BRANDS,&nbsp;INC.<BR>
LONG TERM INCENTIVE PLAN<BR>
(As Amended Through the Third Amendment)  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;1<BR>
GENERAL  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;PURPOSE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;YUM! Brands,&nbsp;Inc. Long Term Incentive Plan (the "Plan") has been established by YUM!
Brands,&nbsp;Inc. (the "Company" or "YUM!") to (i)&nbsp;attract and retain persons eligible to participate in the Plan; (ii)&nbsp;motivate Participants, by means of appropriate incentives, to
achieve long-range goals; (iii)&nbsp;provide incentive compensation opportunities that are competitive with those of other similar companies; and (iv)&nbsp;align the interests of
Participants with those of the Company's shareholders. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;PARTICIPATION.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the Plan, the Committee shall determine and
designate, from time to time, from among the Eligible Individuals, those persons who will be granted one or more Awards under the Plan, and thereby become "Participants" in the Plan. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;OPERATION, ADMINISTRATION, AND DEFINITIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The operation and administration of the Plan, including the
Awards made under the Plan, shall be subject to the provisions of Section&nbsp;4 (relating
to operation and administration). Capitalized terms in the Plan shall be defined as set forth in the Plan (including the definition provisions of Section&nbsp;8 of the Plan). </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;2<BR>
OPTIONS AND SARS  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The
grant of an "Option" entitles the Participant to purchase shares of Stock at an Exercise Price and during a specified time established by the Committee. Any Option
granted under this Section&nbsp;2 may be either a non-qualified option (an "NQO") or an incentive stock option (an "ISO"), as determined in the discretion of the Committee. An "NQO" is
an Option that is not intended to be an "incentive stock option" as that term is described in section&nbsp;422(b) of the Code. An "ISO" is an Option that is intended to satisfy the requirements
applicable to an "incentive stock option" described in section&nbsp;422(b) of the Code. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;A
stock appreciation right (an "SAR") entitles the Participant to receive, in cash or Stock (as determined in accordance with subsection&nbsp;2.5), value equal to (or
otherwise based on) the excess of: (a)&nbsp;the Fair Market Value of a specified number of shares of Stock at the time of exercise; over (b)&nbsp;an Exercise Price established by the Committee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.</FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;EXERCISE PRICE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The "Exercise Price" of each Option and SAR granted under this Section&nbsp;2 shall be
established by the Committee or shall be determined by a method established by the Committee at the time the Option or SAR is granted; except that the Exercise Price shall not be less than the closing
price of a share of Stock on the date of grant as reported on the composite tape for securities listed on the New York Stock Exchange (or if no sales of stock were made on said exchange on such date,
on the next preceding day on which sales were made on such exchange).


</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;EXERCISE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;An Option and an SAR shall be exercisable in accordance with such terms and conditions and during
such periods as may be established by the Committee. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-1</FONT></P>

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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;PAYMENT OF OPTION EXERCISE PRICE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The payment of the Exercise Price of an Option granted under this
Section&nbsp;2 shall be subject to the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Subject
to the following provisions of this subsection&nbsp;2.4, the full Exercise Price for shares of Stock purchased upon the exercise of any Option shall be paid at
the time of such exercise (except that, in the case of an exercise arrangement approved by the Committee and described in paragraph&nbsp;2.4(c), payment may be made as soon as practicable after the
exercise). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
Exercise Price shall be payable in cash or by tendering, by either actual delivery of shares or by attestation, shares of Stock acceptable to the Committee, and
valued at Fair Market Value as of the day of exercise, or in any combination thereof, as determined by the Committee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The
Committee may permit a Participant to elect to pay the Exercise Price upon the exercise of an Option by irrevocably authorizing a third party to sell shares of Stock
(or a sufficient portion of the shares) acquired upon exercise of the Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire Exercise Price and any tax withholding
resulting from such exercise. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;SETTLEMENT OF AWARD.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Settlement of Options and SARs is subject to subsection&nbsp;4.7. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;GRANTS OF OPTIONS AND SARS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;An Option may but need not be in tandem with an SAR, and an SAR may but need
not be in tandem with an Option (in either case, regardless of whether the original award was granted under this Plan or another plan or arrangement). If an Option is in tandem with an SAR, the
exercise price of both the Option and SAR shall be the same, and the exercise of the Option or SAR with respect to a share of Stock shall cancel the corresponding tandem SAR or Option right with
respect to such share. If an SAR is in tandem with an Option but is granted after the grant of the Option, or if an Option is in tandem with an SAR but is granted after the grant of the SAR, the later
granted tandem Award shall have the same exercise price as the earlier granted Award, but the exercise price for the later granted Award may be less than the Fair Market Value of the Stock at the time
of such grant. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;NO REPRICING, CANCELLATION, OR RE-GRANT OF OPTIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except for adjustments pursuant to
subsection&nbsp;4.2(f) (relating to adjustment of shares), the Exercise Price for any outstanding Option granted under the Plan may not be decreased after the date of grant nor may an outstanding
Option granted under the Plan be surrendered to the Company as consideration in exchange for the grant of a new Option with a lower exercise price. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;3<BR>
OTHER STOCK AWARDS  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;A
"Stock Unit" Award is the grant of a right to receive shares of Stock in the future. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;A
"Performance Share" Award is a grant of a right to receive shares of Stock or Stock Units which is contingent on the achievement of performance or other objectives
during a specified period. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;A
"Performance Unit" Award is a grant of a right to receive a designated dollar value amount of Stock which is contingent on the achievement of performance or other
objectives during a specified period. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;A
"Restricted Stock" Award is a grant of shares of Stock, and a "Restricted Stock Unit" Award is the grant of a right to receive shares of Stock in the future, with such
shares of Stock or right to future delivery of such shares of Stock subject to a risk of forfeiture or other restrictions that will lapse upon the achievement of one or more goals relating to
completion of service by the Participant, or achievement of performance or other objectives, as determined by the Committee. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-2</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;RESTRICTIONS ON AWARDS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Stock Unit Award, Restricted Stock Award, Restricted Stock Unit Award,
Performance Share Award, and Performance Unit Award shall be subject to the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Any
such Award shall be subject to such conditions, restrictions and contingencies as the Committee shall determine. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;If the right to become vested in a Restricted Stock Award, Restricted Stock Unit Award, Performance Share Award or Performance Unit Award is conditioned on the
completion of a specified period of service with the Company or the Subsidiaries, without achievement of Performance Measures




or other performance objectives being required as a condition of vesting, and without it being granted in lieu of other compensation, then the required period of service for full vesting of the Award
shall be not less than three years (provided that the required period for full vesting shall, instead, not be less than two years in the case of annual incentive deferrals payable in restricted
shares) (subject to acceleration of vesting, to the extent permitted by the Committee, in the event of the Participant's death, disability, retirement, change in control or involuntary termination).
Awards to Directors may vest immediately.

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The Committee may designate whether any such Award being granted to any Participant is intended to be "performance-based compensation" as that term is used in
section&nbsp;162(m) of the Code. Any such Awards designated as intended to be "performance-based compensation" shall be conditioned on the achievement of one or more Performance Measures, to the
extent required by Code section&nbsp;162(m). The Performance Measures that may be used by the Committee for such Awards shall be based on any one or more of the following Company, Subsidiary,
operating unit or division performance measures, as selected by the Committee: cash flow; earnings; earnings per share; market value added or economic value added; profits; return on assets; return on
equity; return on investment; revenues; stock price; total shareholder return; customer satisfaction metrics; or restaurant unit development. Each goal may be expressed on an absolute and/or relative
basis, may be based on or otherwise employ comparisons based on internal targets, the past performance of the Company and/or the past or current performance of other companies, and in the case of
earnings-based measures, may use or employ comparisons relating to capital, shareholders' equity and/or shares outstanding, investments or to assets or net assets. For Awards under this
Section&nbsp;3 intended to be "performance-based compensation," the grant of the Awards and the establishment of the Performance Measures shall be made during the period required under Code
section&nbsp;162(m).

 </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;4<BR>
OPERATION AND ADMINISTRATION  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;EFFECTIVE DATE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan shall be effective as of May&nbsp;20, 1999 (the "Effective Date"). The Plan
shall be unlimited in duration and, in the event of Plan termination, shall remain in effect as long as any Awards under it are outstanding; provided, however, that no Awards may be granted under the
Plan on or after the ten-year anniversary of May&nbsp;15, 2008, the date on which the Plan was amended by the Third Amendment. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;The
shares of Stock for which Awards may be granted under the Plan shall be subject to the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The
shares of Stock with respect to which Awards may be made under the Plan shall be shares currently authorized but unissued or currently held or subsequently acquired
by the Company as treasury shares (to the extent permitted by law), including shares purchased in the open market or in private transactions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;Subject
to the following provisions of this subsection&nbsp;4.2, the maximum number of shares of Stock that may be delivered to Participants and their beneficiaries
under the Plan shall be 70,600,000 </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-3</FONT></P>

<HR NOSHADE>
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<UL>
<BR>

<P style="font-family:times;"><FONT SIZE=2>(which
number includes all shares delivered under the Plan since its establishment in 1999, determined in accordance with the terms of the Plan); and for purposes of applying the limitations of this
paragraph&nbsp;(b), each share of Stock delivered pursuant to Section&nbsp;3 (relating to Other Stock Awards) shall be counted as covering two shares of Stock, and shall reduce the number of
shares of Stock available for delivery under this paragraph&nbsp;(b) by two shares except, however, in the case of restricted shares or restricted units delivered pursuant to the settlement of
earned annual incentives, each share of Stock shall be counted as covering one share of Stock and shall reduce the number of shares of Stock available for delivery by one share. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;To
the extent provided by the Committee, any Award may be settled in cash rather than Stock. To the extent any shares of Stock covered by an Award are not delivered to a
Participant or beneficiary because the Award is forfeited or canceled, or the shares of Stock are not delivered because the Award is settled in cash or used to satisfy the applicable tax withholding
obligation, such shares shall not be deemed to have been delivered for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;If
the exercise price of any stock option granted under the Plan is satisfied by tendering shares of Stock to the Company (by either actual delivery or by attestation),
only the number of shares of Stock issued net of the shares of Stock tendered shall be deemed delivered for purposes of determining the maximum number of shares of Stock available for delivery under
the Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;Subject
to paragraph&nbsp;4.2(f), the following additional maximums are imposed under the Plan. </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;The
maximum number of shares that may be covered by Awards granted to any one individual pursuant to Section&nbsp;2 (relating to Options and SARs) shall be 9,000,000
shares during any five calendar-year period. If an Option is in tandem with an SAR, such that the exercise of the Option or SAR with respect to a share of Stock cancels the tandem SAR or
Option right, respectively, with respect to such share, the tandem Option and SAR rights with respect to each share of Stock shall be counted as covering one share of Stock for purposes of applying
the limitations of this paragraph&nbsp;(i). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;For
Stock Unit Awards, Restricted Stock Awards, Restricted Stock Unit Awards and Performance Share Awards that are intended to be "performance-based compensation" (as
that term is used for purposes of Code section&nbsp;162(m)), no more than 3,000,000 shares of Stock may be subject to such Awards granted to any one individual during any
five-calendar-year period (regardless of when such shares are deliverable). If, after shares have been earned, the delivery
is deferred, any additional shares attributable to dividends during the deferred period shall be disregarded. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;The
maximum number of shares of Stock that may be issued in conjunction with Awards granted pursuant to Section&nbsp;3 (relating to Other Stock Awards) shall be
12,000,000 shares except that Stock Units or Restricted Shares granted with respect to the deferral of annual cash incentive awards under the Company's deferral plan will not count towards this
maximum. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;For
Performance Unit Awards that are intended to be "performance-based compensation" (as that term is used for purposes of Code section&nbsp;162(m)), no more than
$4,000,000 may be subject to such Awards granted to any one individual during any one-calendar-year period (regardless of when such amounts are deliverable). If, after amounts
have been earned with respect to Performance Unit Awards, the delivery of such amounts is deferred, any additional amounts attributable to earnings during the deferral period shall be disregarded. </FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;If
any change in corporate capitalization, such as a stock split, reverse stock split, or stock dividend; or any corporate transaction such as a reorganization,
reclassification, merger or consolidation or separation, including a spin-off, of the Company or sale or other disposition by the

</FONT></P>


</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-4</FONT></P>

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<UL>

<P style="font-family:times;"><FONT SIZE=2>


Company of all or a portion of its assets, any other change in the Company's corporate structure, or any distribution to shareholders (other than a cash dividend that is not an extraordinary cash
dividend) results in the outstanding shares of Stock, or any securities exchanged therefor or received in their place, being exchanged for a different number or class of shares or other securities of
the Company, or for shares of stock or other securities of any other corporation (or new, different or additional shares or other securities of the Company or of any other corporation being received
by the holders of outstanding shares of Stock), or a material change in the market value of the outstanding shares of Stock as a result of the change, transaction or distribution, then equitable
adjustments shall be made by the Committee, as it determines are necessary and appropriate, in:

 </FONT></P>


<UL>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;the
number and type of Shares (or other property) with respect to which Awards may be granted;

</FONT></P>


<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;the number and type of Shares (or other property) subject to outstanding Awards;

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;the grant or Exercise Price with respect to outstanding Awards; and

 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;the terms, conditions or restrictions of outstanding Awards and/or Award agreements;

 </FONT></P>


</UL>


<P style="font-family:times;"><FONT SIZE=2>provided,
however, that all such adjustments made in respect of each ISO shall be accomplished so that such Option shall continue to be an incentive stock option within the meaning of
Section&nbsp;422 of the Code. However, in no event shall this paragraph&nbsp;(f) be construed to permit a modification (including a replacement) of an Option or SAR if such modification either:
(i)&nbsp;would result in accelerated recognition of income or imposition of additional tax under Code section&nbsp;409A; or (ii)&nbsp;would cause the Option or SAR subject to the modification
(or cause a replacement Option or SAR) to be subject to Code section&nbsp;409A, provided that the restriction of this clause&nbsp;(ii) shall not apply to any Option or SAR that, at the time it is
granted or otherwise, is designated as being deferred compensation subject to Code section&nbsp;409A.


</FONT></P>


</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;GENERAL RESTRICTIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Delivery of shares of Stock or other amounts under the Plan shall be subject to the
following: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision of the Plan, the Company shall have no liability to deliver any shares of Stock under the Plan or make any other distribution of
benefits under the Plan unless such delivery or distribution would comply with all applicable laws (including, without limitation, the requirements of the Securities Act of 1933), and the applicable
requirements of any securities exchange or similar entity. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;To
the extent that the Plan provides for issuance of stock certificates to reflect the issuance of shares of Stock, the issuance may be effected on a
non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of any stock exchange. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;TAX RESTRICTIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;All
distributions under the Plan are subject to withholding of all applicable taxes, and the Committee may condition the delivery of any shares or other benefits under
the Plan on satisfaction of the applicable withholding obligations. The Committee, in its discretion, and subject to such requirements as the Committee may impose prior to the occurrence of such
withholding, may permit such withholding obligations to be satisfied through cash payment by the Participant, through the surrender of shares of Stock which the Participant already owns, or through
the surrender of shares of Stock to which the Participant is otherwise entitled under the Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;Subsections&nbsp;4.5,
4.6 and 4.7 shall be subject to the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;Subsection&nbsp;4.5
shall not be construed to permit the grant of a replacement Option or SAR if such action would cause the Option or SAR being granted or the option
or stock appreciation right being replaced to be subject to Code section&nbsp;409A, provided that this paragraph&nbsp;(i) shall not apply to </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-5</FONT></P>

<HR NOSHADE>
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<UL>

<P style="font-family:times;"><FONT SIZE=2>any
Option or SAR (or option or stock appreciation right granted under another plan) being replaced that, at the time it is granted or otherwise, is designated as being deferred compensation subject
to Code section&nbsp;409A. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;Except
with respect to an Option or SAR that, at the time it is granted or otherwise, is designated as being deferred compensation subject to Code section&nbsp;409A,
no Option or SAR shall condition the receipt of dividends with respect to an Option or SAR on the exercise of such Award, or otherwise provide for payment of such dividends in a manner that would
cause the payment to be treated as an offset to or reduction of the exercise price of the Option or SAR pursuant Treas. Reg. &sect;1.409A-1(b)(5)(i)(E). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;Neither
subsection&nbsp;4.5, 4.6 nor 4.7 shall be construed to permit a modification of an Award, or to permit the payment of a dividend or dividend equivalent, if
such actions would result in accelerated recognition of taxable income or imposition of additional tax under Code section&nbsp;409A. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;Except
for Options and SARs designated at the time of grant or otherwise as intended to be subject to Code section&nbsp;409A, subsections&nbsp;4.5, 4.6, and 4.7
shall not be construed to permit the deferred settlement of Options or SARs, if such settlement would result in deferral of compensation under Treas. Reg.
&sect;1.409A-1(b)(5)(i)(A)(3) (except as permitted in paragraphs&nbsp;(i) and (ii)&nbsp;of that section). </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;GRANT AND USE OF AWARDS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to subsection&nbsp;4.4: In the discretion of the Committee, a
Participant may be granted any Award permitted under the provisions of the Plan, and more than one Award may be granted to a Participant. Awards may be granted as alternatives to or replacement of
awards granted or outstanding under the Plan, or any other plan or arrangement of the Company or a Subsidiary (including a plan or arrangement of a business or entity, all or a portion of which is
acquired by the Company or a Subsidiary). Subject to the overall limitation on the number of shares of Stock that may be delivered under the Plan, the Committee may use available shares of Stock as
the form of payment for compensation, grants or rights earned or due under any other compensation plans or arrangements of the Company or a Subsidiary, including the plans and arrangements of the
Company or a Subsidiary assumed in business combinations. Notwithstanding the provisions of subsection&nbsp;2.2, Options and SARs granted under the Plan in replacement for awards under plans and
arrangements of the Company, Subsidiaries, or other companies that are assumed in business combinations may provide for exercise prices that are less than the Fair Market Value of the Stock at the
time of the replacement grants, if the Committee determines that such exercise price is appropriate to preserve the economic benefit of the award. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;DIVIDENDS AND DIVIDEND EQUIVALENTS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to subsection&nbsp;4.4: An Award (including without
limitation an Option or SAR Award) may provide the Participant with the right to receive dividend payments or dividend equivalent payments with respect to Stock subject to the Award (both before and
after the Stock subject to the Award is earned, vested, or acquired), which payments may be either made currently or credited to an account for the Participant, and may be settled in cash or Stock, as
determined by the Committee. Any such settlements, and any such crediting of dividends or dividend equivalents or reinvestment in shares of Stock, may be subject to such conditions, restrictions and
contingencies as the Committee shall establish, including the reinvestment of such credited amounts in Stock equivalents. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;SETTLEMENT AND PAYMENTS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to subsection&nbsp;4.4: Awards may be settled through cash payments, the
delivery of shares of Stock, the granting of replacement Awards, or combination thereof as the Committee shall determine. Any Award settlement, including payment deferrals, may be subject to such
conditions, restrictions and contingencies as the Committee shall determine. The Committee may permit or require the deferral of any Award payment, subject to such rules and procedures as it may
establish, which may include provisions for the payment or crediting of interest, or dividend equivalents, including converting such credits into deferred Stock equivalents. Each Subsidiary shall be
liable for payment of cash due under the Plan with respect to any Participant to the extent that such </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-6</FONT></P>

<HR NOSHADE>
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<A NAME="page_ku17101_1_7"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>benefits
are attributable to the services rendered for that Subsidiary by the Participant. Any disputes relating to liability of a Subsidiary for cash payments shall be resolved by the Committee. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;TRANSFERABILITY.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided by the Committee, Awards under the Plan are not transferable
except as designated by the Participant by will or by the laws of descent and distribution. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;FORM AND TIME OF ELECTIONS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified herein, each election required or permitted to be
made by any Participant or other person entitled to benefits under the Plan, and any permitted modification, or revocation thereof, shall be in writing filed with the Committee at such times, in such
form, and subject to such restrictions and limitations, not inconsistent with the terms of the Plan, as the Committee shall require. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;AGREEMENT WITH COMPANY.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;An Award under the Plan shall be subject to such terms and conditions, not
inconsistent with the Plan, as the Committee shall, in its sole discretion, prescribe. The terms and conditions of any Award to any Participant shall be reflected in such form of written document as
is determined by the Committee. A copy of such document shall be provided to the Participant, and the Committee may, but need not require that the Participant sign a copy of such document. Such
document is referred to in the Plan as an "Award Agreement" regardless of whether any Participant signature is required. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;ACTION BY COMPANY OR SUBSIDIARY.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any action required or permitted to be taken by the Company or any
Subsidiary shall be by resolution of its board of directors, or by action of one or more non-employee members of the board (including a committee of the board) who are duly authorized to
act for the board, or (except to the extent prohibited by applicable law or applicable rules of any stock exchange) by a duly authorized officer of such company, or by any employee of the Company or
any Subsidiary who is delegated by the board of directors authority to take such action. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;GENDER AND NUMBER.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Where the context admits, words in any gender shall include any other gender, words in
the singular shall include the plural and the plural shall include the singular. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;LIMITATION OF IMPLIED RIGHTS.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Neither
a Participant nor any other person shall, by reason of participation in the Plan, acquire any right in or title to any assets, funds or property of the Company
or any Subsidiary whatsoever, including, without limitation, any specific funds, assets, or other property which the Company or any Subsidiary, in its sole discretion, may set aside in anticipation of
a liability under the Plan. A Participant shall have only a contractual right to the Stock or amounts, if any, payable under the Plan, unsecured by any assets of the Company or any Subsidiary, and
nothing contained in the Plan shall constitute a guarantee that the assets of the Company or any Subsidiary shall be sufficient to pay any benefits to any person. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
Plan does not constitute a contract of employment, and selection as a Participant will not give any participating employee or other individual the right to be
retained in the employ of the Company or any Subsidiary or the right to continue to provide services to the Company or any Subsidiary, nor any right or claim to any benefit under the Plan, unless such
right or claim has specifically accrued under the terms of the Plan. Except as otherwise provided in the Plan, no Award under the Plan shall confer upon the holder thereof any rights as a shareholder
of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;EVIDENCE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Evidence required of anyone under the Plan may be by certificate, affidavit, document or other
information which the person acting on it considers pertinent and reliable, and signed, made or presented by the proper party or parties. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-7</FONT></P>

<HR NOSHADE>
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<A NAME="page_ku17101_1_8"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;5<BR>
CHANGE IN CONTROL  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of paragraph&nbsp;4.2(f) (relating to the adjustment of shares), and except as otherwise provided in the Plan or the Award Agreement
reflecting the applicable Award, the Committee may provide under the terms of any Award that upon the occurrence of a Change in Control: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;All
outstanding Options (regardless of whether in tandem with SARs) shall become fully exercisable. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;All
outstanding SARs (regardless of whether in tandem with Options) shall become fully exercisable. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;All
Stock Units, Restricted Stock, Restricted Stock Units, and Performance Shares (including any Award payable in Stock which is granted in conjunction with a Company
deferral program) shall become fully vested. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;6<BR>
COMMITTEE  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;ADMINISTRATION.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The authority to control and manage the operation and administration of the Plan shall be
vested in a committee (the "Committee") in accordance with this Section&nbsp;6. The Committee shall be selected by the Board, and shall consist solely of two or more non-employee members
of the Board. If the Committee does not exist, or for any other reason determined by the Board, the Board may take any action under the Plan that would otherwise be the responsibility of the
Committee. As of the date this Plan is adopted, the Committee shall mean the Compensation Committee of the Board of Directors. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;POWERS OF COMMITTEE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Committee's administration of the Plan shall be subject to the following: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Subject
to the provisions of the Plan, the Committee will have the authority and discretion to select from among the Eligible Individuals those persons who shall receive
Awards, to determine the time or times of receipt, to determine the types of Awards and the number of shares covered by the Awards, to establish the terms, conditions, performance criteria,
restrictions, and other provisions of such Awards, and (subject to the restrictions imposed by Section&nbsp;7) to cancel or suspend Awards. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;To
the extent that the Committee determines that the restrictions imposed by the Plan preclude the achievement of the material purposes of the Awards in jurisdictions
outside the United States, the Committee will have the authority and discretion to modify those restrictions as the Committee determines to be necessary or appropriate to conform to applicable
requirements or practices of jurisdictions outside of the United States. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The
Committee will have the authority and discretion to interpret the Plan, to establish, amend, and rescind any rules and regulations relating to the Plan, to determine
the terms and provisions of any Award Agreement made pursuant to the Plan, and to make all other determinations that may be necessary or advisable for the administration of the Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;Any
interpretation of the Plan by the Committee and any decision made by it under the Plan is final and binding on all persons. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;In
controlling and managing the operation and administration of the Plan, the Committee shall take action in a manner that conforms to the articles and
by-laws of the Company, and applicable state corporate law. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;DELEGATION BY COMMITTEE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent prohibited by applicable law or the applicable rules of a
stock exchange, the Committee may allocate all or any portion of its responsibilities </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-8</FONT></P>

<HR NOSHADE>
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<A NAME="page_ku17101_1_9"> </A>
<BR>

<P style="font-family:times;"><FONT SIZE=2>and
powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person or persons selected by it. Any such allocation or delegation may be
revoked by the Committee at any time. Until action to the contrary is taken by the Board or the Committee, the Committee's authority with respect to Awards and other matters concerning Participants
below the Partners Council or Executive Officer level is delegated to the Chief Executive Officer or the Chief People Officer of the Company. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;INFORMATION TO BE FURNISHED TO COMMITTEE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company and Subsidiaries shall furnish the Committee with
such data and information as it determines may be required for it to discharge its duties. The records of the Company and Subsidiaries as to an employee's or Participant's employment (or other
provision of services), termination of employment (or cessation of the provision of services), leave of absence, reemployment and compensation shall be conclusive on all persons unless determined to
be incorrect. Participants and other persons entitled to benefits under the Plan must furnish the Committee such evidence, data or information as the Committee considers desirable to carry out the
terms of the Plan. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;MISCONDUCT.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If the Committee determines that a present or former employee has (i)&nbsp;used for profit or
disclosed to unauthorized persons, confidential or trade secrets of YUM!; (ii)&nbsp;breached any contract with or violated any fiduciary obligation to YUM!; or (iii)&nbsp;engaged in any conduct
which the Committee determines is injurious to the Company, the Committee may cause that employee to forfeit his or her outstanding awards under the Plan, provided, however, that during the pendency
of a Potential Change in Control and as of and following the occurrence a Change in Control, no outstanding awards under the Plan shall be subject to forfeiture pursuant to this Section&nbsp;6.5. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
"Potential Change in Control" shall exist during any period in which the circumstances described in items&nbsp;(i), (ii), (iii)&nbsp;or (iv), below, exist (provided, however, that
a Potential Change in Control shall cease to exist not later than the occurrence of a Change in Control): </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;The
Company or any successor or assign thereof enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; provided that
a Potential Change in Control described in this item&nbsp;(i) shall cease to exist upon the expiration or other termination of all such agreements. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;Any
Person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control;
provided that a Potential Change in Control described in this item&nbsp;(ii) shall cease to exist upon the withdrawal of such intention, or upon a reasonable determination by the Board that there is
no reasonable chance that such actions would be consummated. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;Any
Person becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 15% or more of the combined voting power of the Company's
then outstanding securities (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or any of its affiliates). However, a Potential Change
in Control shall not be deemed to exist by reason of ownership of securities of the Company by any person, to the extent that such securities of the Company are acquired pursuant to a reorganization,
recapitalization, spin-off or other similar transactions (including a series of prearranged related transactions) to the extent that immediately after such transaction or transactions,
such securities are directly or indirectly owned in substantially the same proportions as the proportions of ownership of the Company's securities immediately prior to the transaction or transactions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;The
Board adopts a resolution to the effect that, for purposes of this Plan, a potential change in control exists; provided that a Potential Change in Control described
in this item&nbsp;(iv) shall cease to exist upon a reasonable determination by the Board that the reasons that give rise to the resolution providing for the existence of a Potential Change in
Control have expired or no longer exist. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-9</FONT></P>

<HR NOSHADE>
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<A NAME="page_ku17101_1_10"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;7<BR>
AMENDMENT AND TERMINATION  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board may, at any time, amend or terminate the Plan, provided that (i)&nbsp;no amendment or termination may, in the absence of written consent to the change
by the affected Participant (or, if the Participant is not then living, the affected beneficiary), adversely affect the rights of any Participant or beneficiary under any Award granted under the Plan
prior to the date such amendment is adopted by the Board; (ii)&nbsp;no amendments may increase the limitations on the number of shares set forth in subsections&nbsp;4.2(b) and 4.2(e) or decrease
the minimum Option or SAR Exercise Price set forth in subsection&nbsp;2.2 unless any such amendment is approved by the Company's shareholders; (iii)&nbsp;the provisions of subsection&nbsp;2.6
(relating to Option repricing) may not be amended, unless any such amendment is approved by the Company's shareholders; (iv)&nbsp;no amendment may expand the definition of Eligible Individual in
subsection&nbsp;8(e), unless any such amendment is approved by the Company's shareholders; (v)&nbsp;no amendment may decrease the minimum restriction or performance period set forth in
subsection&nbsp;3.2(b), unless any such amendment is approved by the Company's shareholders; (vi)&nbsp;adjustments pursuant to subsection&nbsp;4.2(f) shall not be subject to the foregoing
limitations of this Section&nbsp;7; and (vii)&nbsp;no amendment or termination shall be adopted or effective if it would result in accelerated recognition of income or imposition of additional tax
under Code section&nbsp;409A or, except as otherwise provided in the amendment, would cause amounts that were not otherwise subject to Code section&nbsp;409A to become subject to
section&nbsp;409A. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SECTION&nbsp;8<BR>
DEFINED TERMS  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the other definitions contained herein, the following definitions shall apply: </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;AWARD.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term "Award" shall mean any award or benefit granted under the Plan, including, without
limitation, the grant of Options, SARs, Stock Unit Awards, Restricted Stock Awards, Restricted Stock Unit Awards, Performance Unit Awards, and Performance Share Awards. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;BOARD.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term "Board" shall mean the Board of Directors of the Company. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;CHANGE IN CONTROL.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided by the Committee, a "Change in Control" shall be deemed to
have occurred if the event set forth in any one of the following paragraphs shall have occurred: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;any
Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person
any securities acquired directly from the Company or its Affiliates) representing 20% or more of the combined voting power of the Company's then outstanding securities, excluding any Person who
becomes such a Beneficial Owner in connection with a transaction described in clause&nbsp;(I) of paragraph&nbsp;(iii) below; or </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;the
following individuals cease for any reason to constitute a majority of the number of directors then serving; individuals who, on the date hereof, constitute the
Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent
solicitation, relating to the election of directors of the Company), whose appointment or election by the Board or nomination for election by the Company's stockholders was approved or recommended by
a vote of at least two-thirds (<SUP>2</SUP>/<SMALL>3</SMALL>) of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for
election was previously so approved or recommended; or </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;there
is consummated a merger or consolidation of the Company or any direct or indirect Subsidiary with any other corporation, other than (I)&nbsp;a merger or
consolidation immediately following which those individuals who immediately prior to the consummation of such merger or consolidation, constituted the Board, constitute a majority of the board of
directors of the Company or the surviving </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-10</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=103,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=179650,FOLIO='A-10',FILE='DISK135:[08ZAX1.08ZAX17101]KU17101A.;13',USER='EDGCOMP7',CD=';2-APR-2008;10:13' -->
<A NAME="page_ku17101_1_11"> </A>
<UL>
<BR>

<P style="font-family:times;"><FONT SIZE=2>or
resulting entity or any parent thereof, or (II)&nbsp;a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes
the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its
Affiliates) representing 20% or more of the combined voting power of the Company's then outstanding securities. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, a "Change in Control" shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions
immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate
ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Affiliate"
shall have the meaning set forth in Rule&nbsp;12b-2 under Section&nbsp;12 of the Exchange Act. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Beneficial
Owner" shall have the meaning set forth in Rule&nbsp;13d-3 under the Exchange Act, except that a Person shall not be deemed to be the Beneficial Owner of any
securities which are properly filed on a Form&nbsp;13-G. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Exchange
Act" shall mean the Securities Exchange Act of 1934, as amended from time to time. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Person"
shall have the meaning given in Section&nbsp;3(a)(9) of the Exchange Act, as modified and used in Sections&nbsp;13(d) and 14(d) thereof, except that such term shall not
include (i)&nbsp;YUM! or any of its Affiliates; (ii)&nbsp;a trustee or other fiduciary holding securities under an employee benefit plan of YUM! or any of its subsidiaries; (iii)&nbsp;an
underwriter temporarily holding securities pursuant to an offering of such securities; or (iv)&nbsp;a corporation owned, directly or indirectly, by the stockholders of YUM! in substantially the same
proportions as their ownership of stock of YUM!. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;CODE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term "Code" means the Internal Revenue Code of 1986, as amended. A reference to any provision of
the Code shall include reference to any successor provision of the Code. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;ELIGIBLE INDIVIDUAL.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;For purposes of the Plan, the term "Eligible Individual" shall mean any employee of the
Company or a Subsidiary, and any director of the Company. An Award may be granted to an employee, in connection with hiring, retention or otherwise, prior to the date the employee first performs
services for the Company or the Subsidiaries, provided that such Awards shall not become vested prior to the date the employee first performs such services. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;FAIR MARKET VALUE.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;For purposes of determining the "Fair Market Value" of a share of Stock as of any date,
Fair Market Value shall mean the average between the lowest and highest reported sale prices of the Stock on that date on the principal exchange on which the Stock is then listed or admitted to
trading. If the day is not a business day, the Fair Market Value of the Stock shall be determined as of the last preceding business day. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;SUBSIDIARIES.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term "Subsidiary" means any corporation, partnership, joint venture or other entity during
any period in which at least a fifty percent voting or profits interest is owned, directly or indirectly, by the Company (or by any entity that is a successor to the Company), and any other business
venture designated by the Committee in which the Company (or any entity that is a successor to the Company) has a significant interest, as determined in the discretion of the Committee; provided,
however, that except for options and SARs designated as intended to be subject to section&nbsp;409A, options and SARs shall not be granted to employees or directors of Subsidiaries unless the
ownership of the Subsidiary satisfies Treas. Reg. &sect;1.409A-1(b)(5)(iii). </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;STOCK.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term "Stock" shall mean shares of common stock of the Company. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>A-11</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=104,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=173695,FOLIO='A-11',FILE='DISK135:[08ZAX1.08ZAX17101]KU17101A.;13',USER='EDGCOMP7',CD=';2-APR-2008;10:13' -->
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 </FONT></P>

<!-- TOC_END -->

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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="la17101_appendix_2"> </A>
<A NAME="toc_la17101_1"> </A></FONT> <FONT SIZE=2><B>Appendix&nbsp;2    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1><B>Towers Perrin Data&#151;Companies with Revenues Of $10 to $20&nbsp;Billion</B></FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="20%" style="font-family:times;"><FONT SIZE=1>Abbott Laboratories<BR>
Accenture<BR>
ACH Food<BR>
Alcatel USA<BR>
Alstom Power<BR>
American Airlines<BR>
American Standard<BR>
Amgen<BR>
Apple Computer<BR>
ARAMARK<BR>
ArvinMeritor<BR>
Ashland<BR>
Baxter International<BR>
BellSouth<BR>
Boehringer Ingelheim<BR>
Bristol-Myers Squibb<BR>
Burlington Northern Santa Fe<BR>
Cadbury-Schweppes North America<BR>
Cendant<BR>
CHS<BR>
Colgate-Palmolive</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:times;"><FONT SIZE=1>ConAgra Foods<BR>
CSX<BR>
Diageo North America<BR>
Dial<BR>
Eaton<BR>
EDS<BR>
Eli Lilly<BR>
EMC<BR>
Emerson<BR>
EnCana Oil&nbsp;&amp; Gas USA<BR>
Fluor<BR>
Gap<BR>
General Dynamics<BR>
General Mills<BR>
Goodyear Tire&nbsp;&amp; Rubber<BR>
H.J. Heinz<BR>
Hess<BR>
ICI Paints North America<BR>
Ingersoll-Rand<BR>
International Truck&nbsp;&amp; Engine<BR>
J.C. Penney Company</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:times;"><FONT SIZE=1>JM Family<BR>
KB Home<BR>
Kellogg<BR>
Kimberly-Clark<BR>
Lear<BR>
Lorillard<BR>
Lucent Technologies<BR>
Marriott International<BR>
Masco<BR>
McDonald's<BR>
Medtronic<BR>
Merck<BR>
National Starch&nbsp;&amp; Chemical<BR>
NIKE<BR>
Norfolk Southern<BR>
Nortel Networks<BR>
Occidental Petroleum<BR>
Organon<BR>
PPG Industries<BR>
Qwest Communications<BR>
Raytheon</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:times;"><FONT SIZE=1>Rio Tinto<BR>
Schering-Plough<BR>
Schneider Electric<BR>
Sodexho<BR>
Solvay America<BR>
Solvay Pharmaceuticals<BR>
St.&nbsp;Lawrence Cement<BR>
Staples<BR>
Sun Microsystems<BR>
Texas Instruments<BR>
Textron<BR>
Thomson<BR>
3M<BR>
Union Pacific<BR>
Viacom<BR>
Visteon<BR>
Waste Management<BR>
Weyerhaeuser<BR>
Wyeth<BR>
Xerox<BR>
Yum! Brands</FONT></TD>
</TR>
</TABLE>
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<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=105,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=213164,FOLIO='blank',FILE='DISK135:[08ZAX1.08ZAX17101]LA17101A.;14',USER='KSOLTER',CD='28-MAR-2008;00:12' -->
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<!-- COMMAND=ADD_BASECOLOR,"Black" -->




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 </FONT></P>

<!-- TOC_END -->

<!-- COMMAND=ROTATED_TABLE WIDTH="150%" -->

<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="lc17101_appendix_3"> </A>
<A NAME="toc_lc17101_1"> </A></FONT> <FONT SIZE=2><B>Appendix&nbsp;3    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1><B>Hewitt Associates Data&#151;Companies</B></FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>A.G. Edwards&nbsp;&amp; Sons,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Fiserv,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Rockwell Collins</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1><B>with Revenues of $2.5 to $5.0&nbsp;Billion</B></FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Abercrombie&nbsp;&amp; Fitch</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Flowserve Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Ross Stores,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Advance Auto Parts</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>FMC Technologies</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>SCANA Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>AGL Resources&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>H&amp;R Block</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Solutia&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Alaska Airlines</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Hasbro&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Sonoco Products Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Alberto-Culver Company</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Hewitt Associates&nbsp;LLC</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Sovereign Bancorp,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Allegheny Energy,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Hilton Hotels Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Steelcase&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Alliant Techsystems&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Hospira,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Synovus Financial Corp.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>AmSouth Bancorporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>IKON Office Solutions,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Temple-Inland&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Armstrong World Industries,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Jarden Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Clorox Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Avaya&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Lafarge North America</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Hershey Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>BJ Services Company</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Lennox International&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The New York Times Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>BorgWarner&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Longs Drug Stores,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Northern Trust Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Cameron International Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>M&nbsp;&amp; T Bank Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Pantry,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Chesapeake Energy Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Marshall&nbsp;&amp; Ilsley Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Phoenix Companies,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Comerica Incorporated</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>McCormick&nbsp;&amp; Company,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The ServiceMaster Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Conseco,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Mercury Insurance</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Stanley Works</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Cooper Industries,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Mirant Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>The Valspar Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Del Monte Foods Company</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Nalco Company</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Tower Automotive</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Diebold, Incorporated</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>NRG Energy,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>UnionBanCal Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>DST Systems,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Pactiv Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>United Stationers&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Ecolab&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Payless ShoeSource&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Vulcan Materials Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>El Paso Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Pinnacle West Capital Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>W. R. Grace&nbsp;&amp;&nbsp;Co.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Energizer Holdings,&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Potash Corporation of Saskatchewan&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Washington Group International,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Engelhard Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Questar Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Williams-Sonoma,&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:times;"><FONT SIZE=1>Equity Office Properties Trust</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:times;"><FONT SIZE=1>Retail Ventures</FONT></TD>
<TD WIDTH="2%" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:times;"><FONT SIZE=1>Wm. Wrigley Jr. Company</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=106,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=119393,FOLIO='blank',FILE='DISK135:[08ZAX1.08ZAX17101]LC17101A.;11',USER='KSOLTER',CD='28-MAR-2008;00:12' -->
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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman"><img width="84" height="70" src="g79713bai001.jpg"></font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">YUM! BRANDS, INC.</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">C/O PROXY SERVICES</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">P.O.&nbsp;BOX 9112</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">FARMINGDALE, NY 11735</font></i></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ADMISSION TICKET</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Your vote is important.
Please vote immediately.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VOTE BY INTERNET -&#160; www.proxyvote.com</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use
the Internet to transmit your voting instructions and for electronic delivery
of information up until 11:59&nbsp;P.M. Eastern Time the day before the cut-off
date or meeting date. Have your proxy card in hand when you access the web site
and follow the instructions to obtain your records and to create an electronic
voting instruction form.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ELECTRONIC DELIVERY OF FUTURE SHAREHOLDER COMMUNICATIONS</font></p>





<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you would like to reduce the costs incurred by Yum! Brands, Inc. in
mailing proxy materials, you can consent to receiving all future proxy
statements, proxy cards and annual reports electronically via e-mail or the
Internet. To sign up for electronic delivery, please follow the instructions
above to vote using the Internet and, when prompted, indicate that you agree to
receive or access shareholder communications electronically in future years.</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VOTE BY
PHONE - 1-800-690-6903</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use
any touch-tone telephone to transmit your voting instructions up until 11:59&nbsp;P.M.
Eastern Time the day before the cut-off date or meeting date. Have your proxy
card in hand when you call and then follow the instructions.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VOTE BY
MAIL -</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark, sign and date your proxy card and return it in the
postage-paid envelope we have provided or return it to Yum! Brands,&nbsp;Inc.,
c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">If you are voting by Internet or telephone,</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">please DO NOT mail your proxy card</font></b><font size="2" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">TO
VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.62%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">YUMBR1</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.38%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">KEEP
  THIS PORTION FOR YOUR RECORDS</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="border:none;border-bottom:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:55.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="border:none;border-bottom:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:11.62%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:33.38%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:55.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:11.62%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:33.38%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.62%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.38%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">DETACH
  AND RETURN THIS PORTION ONLY</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">YUM! BRANDS, INC.</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">The
Board of Directors recommends a vote</font></b><font size="1" style="font-size:8.0pt;">  <b>FOR</b></font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">items 1, 2, 3 and 4 and AGAINST items 5, 6, 7, and 8</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Election of Directors</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">For</font></b></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">All</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Withhold</font></b></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">All</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">For All</font></b></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Except</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">To
  withhold authority to vote for any individual nominee(s), mark &#147;For All
  Except&#148; and write the number(s)&nbsp;of the nominee(s)&nbsp;on the line
  below.</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(01) David W. Dorman</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(07)
  Jonathan S. Linen</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(02) Massimo Ferragamo</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(08) Thomas C. Nelson</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(03) J. David Grissom</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(09) David C. Novak</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="29%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(04) Bonnie G. Hill</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(10)&nbsp;Thomas
  M. Ryan</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(05) Robert Holland,&nbsp;Jr.</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(11)
  Jing-Shyh S. Su</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(06) Kenneth G. Langone </font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(12)
  Jackie Trujillo</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.08%;">
  <p style="margin:0in 0in .0001pt 114.0pt;text-autospace:none;text-indent:-101.05pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(Page&nbsp;13 of Proxy)</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">(13)
  Robert D. Walter</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.02%;">
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Vote On Proposals</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">For</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Against</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Abstain</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">For</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Against</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Abstain</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">2.&nbsp;&nbsp; Ratification of Independent Auditors (Page&nbsp;17 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt 12.75pt;text-autospace:none;text-indent:-12.75pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6.&nbsp;&nbsp; Shareholder proposal relating to an Advisory Shareholder Vote to
  Ratify Executive Compensation (Page&nbsp;35 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt 12.75pt;text-autospace:none;text-indent:-12.75pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">3.&nbsp;&nbsp; Proposal to approve an Amendment to the Company&#146;s Articles of
  Incorporation requiring a Majority Vote for Election of Directors in
  Uncontested Elections (Page&nbsp;19 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt 12.75pt;text-autospace:none;text-indent:-12.75pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">7.&nbsp;&nbsp; Shareholder proposal relating to Food Supply Chain Security and
  Sustainability (page&nbsp;39 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt 12.75pt;text-autospace:none;text-indent:-12.75pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">8.&nbsp;&nbsp; Shareholder proposal relating to </font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">4.&nbsp;&nbsp; Proposal to approve the Company&#146;s Long Term
  Incentive Plan as amended (Page&nbsp;21 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Animal Welfare (page&nbsp;42 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt 12.95pt;text-autospace:none;text-indent:-12.95pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">5.&nbsp;&nbsp; Shareholder proposal relating to the MacBride Principles
  (Page&nbsp;32 of Proxy)</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">NOTE: Please sign exactly
  as the name(s) appear(s) hereon. Joint owners should each sign. When signing
  as attorney, executor, administrator, trustee or guardian, please give full
  title as such.</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">For address changes and/or
  comments, please check the box and write them on the back where indicated.</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Yes</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">No</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.46%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Please indicate if you plan to attend this meeting</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Wingdings" style="font-size:8.0pt;">o</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.82%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.02%;">
 <tr>
  <td width="37%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:37.38%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:7.92%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.18%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:23.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:8.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.06%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:37.38%;">
  <p style="margin:1.0pt 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Signature
  (PLEASE SIGN WITHIN BOX)</font></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:7.92%;">
  <p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Date</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.18%;">
  <p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="23%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:23.3%;">
  <p style="margin:1.0pt 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Signature
  (Joint Owners)</font></p>
  </td>
  <td width="8%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:8.16%;">
  <p style="margin:1.0pt 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Date</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.06%;">
  <p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- ZEQ.=1,SEQ=107,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=265158,FOLIO='',FILE="DISK114:[08ZAX3.08ZAX17103]7971-3-BA_ZAX17103.CHC",USER="TOSBORNA",CD='Apr  9 17:44 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="105" height="88" src="g79713bai002.jpg"></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">YUM! BRANDS, INC.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ANNUAL MEETING</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">May&nbsp;15, 2008</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9:00 AM</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">YUM! Brands,&nbsp;Inc.</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Yum! Conference Center</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1900 Colonel Sanders Lane</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Louisville, Kentucky 40213</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ADMISSION TICKET</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">YUM! BRANDS&#146; 2008 ANNUAL SHAREHOLDERS&#146; MEETING WILL BE HELD AT 9:00&nbsp;A.M.
(EASTERN DAYLIGHT SAVING TIME) ON THURSDAY, MAY&nbsp;15, 2008, AT THE YUM!
CONFERENCE CENTER AT 1900 COLONEL SANDERS LANE IN LOUISVILLE, KENTUCKY. If you
plan to attend the Annual Shareholders&#146; Meeting, please tear off and keep the
upper portion of this form as your ticket for admission to the meeting. YOUR
VOTE IS IMPORTANT. The proxy voting instruction card below covers the voting of
all shares of Common Stock of YUM! Brands,&nbsp;Inc., which you are entitled to
vote or to direct the voting of, including those shares in the YUM! Brands 401(k)&nbsp;Plan.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please date and sign the proxy card and return it promptly in the
enclosed business reply envelope. If you do not sign and return a proxy or
attend the meeting and vote by ballot, your shares cannot be voted.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Important Notice Regarding
Internet Availability of Proxy Materials for the Annual Meeting:</font></b><font size="2" style="font-size:10.0pt;"> The Proxy and
Annual Report are available at www.proxyvote.com.</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(PLEASE DETACH PROXY CARD AT
PERFORATION)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" valign="top" style="border:none;border-top:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:11.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="bottom" style="border:none;border-top:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:88.78%;">
  <p align="center" style="margin:0in .7in .0001pt 0in;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman"><img width="71" height="59" src="g79713bai003.jpg"></font></p>
  </td>
  <td width="88%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:88.78%;">
  <p align="center" style="margin:0in .7in .0001pt 0in;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">YUM! BRANDS, INC.</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Proxy is solicited on behalf of the Board of Directors</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned hereby appoints Christian L. Campbell, John P. Daly and
R. Scott Toop, and each of them, as Proxies with full power of substitution, to
vote, as designated on the reverse side, for director substitutes if any
nominee becomes unavailable, and in their discretion, on matters properly
brought before the Meeting and on matters incident to the conduct of the
Meeting, all of the shares of common stock of YUM! Brands,&nbsp;Inc. which the
undersigned has power to vote at the Annual Meeting of Shareholders to be held
on May&nbsp;15, 2008 or any adjournment thereof.</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOMINEES
FOR DIRECTOR:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David W. Dorman, Massimo
Ferragamo, J. David Grissom, Bonnie G. Hill, Robert Holland,&nbsp;Jr., Kenneth
G. Langone, Jonathan S. Linen, Thomas C. Nelson, David C. Novak, Thomas M.
Ryan, Jing-Shyh S. Su, Jackie Trujillo and Robert D. Walter</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE
BOARD OF DIRECTORS RECOMMENDS A VOTE FOR ITEMS 1, 2, 3 and 4.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Proxy, when properly executed, will be voted as directed; if no
direction is indicated, it will be voted as follows:</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR
the election of all nominees for director;</font></p>

<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR
the ratification of independent auditors;</font></p>

<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR
an amendment to the Company&#146;s Article of Incorporation;</font></p>



<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR approval of the
Company&#146;s Long Term Incentive Plan as amended;</font></p>



<p style="margin:0in 0in .0001pt .2in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AGAINST
Items&#160; 5, 6, 7, and 8 (Shareholders&#146;
Proposals).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
card also provides voting instructions to the Administrator or Trustee for
shares beneficially owned under the YUM! Brands 401(k)&nbsp;Plan.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(CONTINUED, </font></i><font size="2" style="font-size:10.0pt;">and To Be Signed and Dated, on the <i>REVERSE SIDE)</i></font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.52%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEE</font></p>
  </td>
 </tr>
 <tr>
  <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.52%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">REVERSE</font></p>
  </td>
 </tr>
 <tr>
  <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.52%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIDE</font></p>
  </td>
 </tr>
 <tr>
  <td width="87%" valign="top" style="border:none;border-bottom:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:87.52%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="border:none;border-bottom:solid windowtext 2.25pt;padding:0in .7pt 0in .7pt;width:12.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
<!-- ZEQ.=1,SEQ=108,EFW="2184312",CP="YUM BRANDS, INC.",DN="1",CHK=921432,FOLIO='',FILE="DISK114:[08ZAX3.08ZAX17103]7971-3-BA_ZAX17103.CHC",USER="TOSBORNA",CD='Apr  9 17:44 2008' -->


<BR>
<P><br><A NAME="08ZAX17101_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bc17101_1">YUM! Brands, Inc. 1441 Gardiner Lane Louisville, Kentucky 40213</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_be17101_1">YUM! Brands, Inc. 1441 Gardiner Lane Louisville, Kentucky 40213</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_be17101_2">YOUR VOTE IS IMPORTANT</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bg17101_1">TABLE OF CONTENTS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_de17101_1">GENERAL INFORMATION ABOUT THE MEETING</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dg17101_1">GOVERNANCE OF THE COMPANY</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_di17101_1">MATTERS REQUIRING SHAREHOLDER ACTION</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_di17101_2">ITEM 1: ELECTION OF DIRECTORS (Item 1 on the Proxy Card)</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dk17101_1">ITEM 2: RATIFICATION OF INDEPENDENT AUDITORS (Item 2 on the Proxy Card)</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dm17101_1">ITEM 3: A PROPOSAL TO APPROVE AN AMENDMENT TO THE COMPANY'S ARTICLES OF INCORPORATION REQUIRING A MAJORITY VOTE FOR ELECTION OF DIRECTORS IN UNCONTESTED ELECTIONS (Item 3 on the Proxy Card)</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_do17101_1">ITEM 4: A PROPOSAL RELATING TO THE APPROVAL OF THE COMPANY'S LONG TERM INCENTIVE PLAN AS AMENDED THROUGH THE THIRD AMENDMENT (Item 4 on the Proxy Card)</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq17101_1">ITEM 5: SHAREHOLDER PROPOSAL Relating to the MacBride Principles (Item 5 on the Proxy Card)</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq17101_2">SUPPORTING STATEMENT</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq17101_3">MANAGEMENT STATEMENT IN OPPOSITION TO SHAREHOLDER PROPOSAL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq17101_4">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE AGAINST THIS PROPOSAL.</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq17101_5">FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE AGAINST THIS PROPOSAL.</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_1">ITEM 6: SHAREHOLDER PROPOSAL Relating to an Advisory Shareholder Vote to Ratify Executive Compensation (Item 6 on the Proxy Card)</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_2">ADVISORY VOTE ON EXECUTIVE COMPENSATION</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_3">SUPPORTING STATEMENT</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_4">MANAGEMENT STATEMENT IN OPPOSITION TO SHAREHOLDER PROPOSAL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_5">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE AGAINST THIS PROPOSAL.</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_6">Investor Total Return<SUP>(1)</SUP> Comparison (as of 12/31/07)</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds17101_7">FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE AGAINST THIS PROPOSAL.</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_1">ITEM 7: SHAREHOLDER PROPOSAL Relating to Food Supply Chain Security and Sustainability (Item 7 on the Proxy Card)</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_2">MANAGEMENT STATEMENT IN OPPOSITION TO SHAREHOLDER PROPOSAL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_3">THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE AGAINST THIS PROPOSAL.</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_4">ITEM 8: SHAREHOLDER PROPOSAL Relating to Animal Welfare (Item 8 on the Proxy Card)</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_5">MANAGEMENT STATEMENT IN OPPOSITION TO SHAREHOLDER PROPOSAL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dv17101_6">STOCK OWNERSHIP INFORMATION</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dw17101_1">EXECUTIVE COMPENSATION Compensation Discussion and Analysis</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ea17101_1">COMPENSATION COMMITTEE REPORT</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ec17101_1">SUMMARY COMPENSATION TABLE</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ec17101_2">ALL OTHER COMPENSATION TABLE</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ei17101_1">OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ek17101_1">OPTION EXERCISES AND STOCK VESTED</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ek17101_2">PENSION BENEFITS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ek17101_3">NONQUALIFIED DEFERRED COMPENSATION</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_em17101_1">POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_em17101_2">DIRECTOR COMPENSATION</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_em17101_3">AUDIT COMMITTEE REPORT</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_em17101_4">ADDITIONAL INFORMATION</A></FONT><BR>

<!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ku17101_1">Appendix 1</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_la17101_1">Appendix 2</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_lc17101_1">Appendix 3</A></FONT><BR>
</UL>
<!-- SEQ=,FILE='QUICKLINK',USER=TOSBORNA,SEQ=,EFW="2184312",CP="YUM BRANDS, INC.",DN="1" -->
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
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