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  "documentTitle": "AOL, Inc. (AOL)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-23 00:00:00",
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  "slideType": "peer_benchmark",
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  "density": "overcrowded",
  "nDataPoints": 45,
  "notes": "The slide uses a table to demonstrate that the independent peer group's market cap and revenue fall within the recommended guidelines, unlike the company's own selection.",
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      "kind": "callout",
      "text": "On all key metrics, we believe the Independent Peer Group is far more appropriate than AOL's own inflated peer group.",
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      "text": "The right peer group is the foundation for compensation planning and relative performance. Unlike AOL’s current Peer Group, the mean and median market cap and revenue of the Independent Peer Group fall within both the ISS and Glass Lewis guidelines regarding compensation peer group construction. Not only do these companies have similar financial characteristics, but many of them operate in similar industries and end markets.",
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      "text": "Market Cap: 1.4x",
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      "text": "The independent compensation consulting firm constructed an “Independent Peer Group” for AOL that they believe more accurately reflects the reality of AOL’s business in terms of scope and scale.",
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      "text": "Source: Data from Capital IQ. (1) Independent Peer Group: ACOM, CCO, ELNK, CGI, IAG, IPG, LAMR, NYT, UNTD, VCI, VCLK, WBMD, WPO, and YHOO. (2) Based on ISS guidelines... (3) EBITDA calculated...",
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      "text": "Independent Peer Group for AOL table including Market Cap, CY 2011 Revenue, and CY 2011 EBITDA for 14 companies plus means, medians, and AOL comparison.",
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      "text": "On all key metrics, we believe the Independent Peer Group is far more appropriate than AOL's own inflated peer group.",
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      "text": "The independent compensation consulting firm we engaged constructed a far more appropriate peer group for AOL",
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      "name": "Cost Of Inaction",
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