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  "documentTitle": "Office Depot, Inc. (ODP)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2013-08-02 00:00:00",
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  "notes": "Uses red text to emphasize the company's failure to act and the negative assessment by the proxy advisor.",
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      "kind": "callout",
      "text": "Compensation committee IGNORES Glass Lewis request and continuous objections to its STI plan.",
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      "text": "Conclusion: Glass Lewis states that it believes Office Depot’s STI plan “runs contrary to best practices and shareholder interests, as management may receive excessive compensation that is not strictly tied to Company Performance.”",
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      "text": "Office Depot Reaction: Compensation committee IGNORES Glass Lewis request and continuous objections to its STI plan.",
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      "text": "Glass Lewis Concern: The Compensation committee allows executives to receive unlimited compensation through the STI plan which Glass Lewis states in its proxy paper that it “urges the Company to set and disclose individual caps on its short-term incentive plan so as to assure shareholders that executive pay will always be constrained by stated limits.”",
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      "text": "urges the Company to set and disclose individual caps on its short-term incentive plan so as to assure shareholders that executive pay will always be constrained by stated limits. — Glass Lewis; runs contrary to best practices and shareholder interests, as management may receive excessive compensation that is not strictly tied to Company 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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