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  "documentTitle": "Edgewater Technology, Inc. (EDGW)",
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  "authorName": "Jim Chadwick",
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  "presentationDate": "2017-01-24 00:00:00",
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  "notes": "The slide uses a 'villain' framing to criticize executive pay relative to company earnings.",
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      "text": "This amount, astoundingly, is approximately 90.3% of Edgewater's cumulative Earnings Before Interest and Tax (\"EBIT\") and 172.3% of cumulative Net Income (excluding one-time items).",
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      "text": "Compensation as % of EBIT: 90.3%",
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      "text": "Despite delivering sub-par returns to the Company's stockholders, both Ms. Singleton and Mr. Clancey have been handsomely rewarded by the Board.",
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      "text": "As detailed in the table below, perhaps the most striking data point in terms of excessive compensation is the fact that over the past fourteen years (equivalent to Ms. Singleton's tenure as CEO), Ms. Singleton and Mr. Clancey combined have been cumulatively compensated (including cash, restricted stock, and options) over $17 million. This amount, astoundingly, is approximately 90.3% of Edgewater's cumulative Earnings Before Interest and Tax (\"EBIT\") and 172.3% of cumulative Net Income (excluding one-time items).",
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      "text": "(1) Source: Edgewater's 2002-2016 Schedule 14A proxy statements; Financials from CapIQ",
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