GRANT REPLICATION SLAVE ON *.* TO 'slave'@'%' IDENTIFIED BY 'password';
FLUSH PRIVILEGES;

mysql> CHANGE MASTER TO
-> MASTER_HOST='X.X.X.X',
-> MASTER_USER='slave',
-> MASTER_PASSWORD='password',
-> MASTER_LOG_FILE='mysql-bin.000001',
-> MASTER_LOG_POS=327;