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  "documentTitle": "Office Depot, Inc. (ODP)",
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  "presentationDate": "2013-08-02 00:00:00",
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  "notes": "Uses red, underlined, italicized text to emphasize critical negative feedback from Glass Lewis.",
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      "text": "Glass Lewis is \"unconvinced that the proposed changes to the 2012 LTI plan will adequately link pay and performance\" and that it \"leads us to question how committed the compensation committee truly is to linking equity pay to corporate performance\"",
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      "text": "Conclusion: Glass Lewis states that the new compensation structure is \"far from ideal\" and that it doesn't \"properly incentivize executives to focus on the long-term fiscal health of the Company.\"",
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      "text": "Glass Lewis Concern: The Long Term Incentive compensation program consisted entirely of time based vesting with only a minimal amount subject to a performance target.",
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      "text": "Office Depot Reaction: Compensation committee makes mostly cosmetic changes to its 2012 compensation plan towards more performance-based awards, but continues to have the Long Term Incentive compensation vesting time-based.",
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      "text": "“to the best of our knowledge, the Company does not grant performance-vesting incentive awards” — Glass Lewis. “far from ideal” — Glass Lewis. “unconvinced that the proposed changes to the 2012 LTI plan will adequately link pay and performance” — Glass Lewis. “leads us to question how committed the compensation committee truly is to linking equity pay to corporate performance” — Glass Lewis.",
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      "text": "Source: Glass Lewis Proxy Papers, ODP SEC filings.",
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      "text": "Office Depot’s Compensation Committee Continues to Ignore the Concerns Highlighted by Glass Lewis",
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      "text": "Glass Lewis Concern #1 – No Performance-Based Long-Term Incentive Awards",
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