Yum Brands 401(k) match, vesting and fees

Participants are fully vested in the entire value of their accounts upon contribution, including the Company matching contribution.

Participants may also elect to make after-tax contributions pursuant to Code Section 402A ("Roth Contributions"). Eligible participants can make additional Roth Contributions in addition to the additional tax-deferred contributions described above. Roth Contributions shall be considered for and shall be eligible for matching contributions as described above. The contribution limits noted above include both pre-tax and Roth Contributions in total.

The Plan has a loan program for participants. The maximum amount a participant may borrow, when aggregated with all other outstanding loans of the participant, is the lesser of: a) 50% of the participant’s vested interest under the Plan; b) $50,000 reduced by the excess of the highest outstanding loan balance during the preceding one-year period ending on the day prior to the date the loan was made, over the outstanding balance of loans on the date the loan was made; c) 100% of the value of the participant’s investment in certain funds; or d) the maximum loan amount that can be amortized by the participant’s net pay. Participants may elect repayment periods from one year to four years at six-month intervals. For new loans, only one loan may be outstanding at any time. For loans originating prior to January 1, 2022, participants could have up to two loans outstanding. The fixed interest rate for loans is based on the prime rate as of the last day of the month before the loan request plus 1%. A one-time loan origination fee is charged to those participants who obtain a loan. Interest on loans is allocated to each of the funds based upon the participant’s investment election percentages. For each month or part thereof the loan remains outstanding, the borrowing participant may be assessed a monthly administration fee. Generally, any loans outstanding shall become immediately due and payable in full if the participant’s employment is terminated.