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  "documentTitle": "C3.ai, Inc. (AI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-02-16 00:00:00",
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  "notes": "The slide uses a comparison table to expose what the activist perceives as a lopsided contract amendment.",
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      "text": "C3.ai's updated disclosure in its most recent 10Q regarding the 3rd amendment to the JV contract notes the structure of the arrangement was revised to further incentivize Baker Hughes' sales of the Company's products and services.",
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      "text": "C3.ai's updated disclosure in its most recent 10Q regarding the 3rd amendment to the JV contract notes the structure of the arrangement was revised to further incentivize Baker Hughes' sales of the Company's products and services. Our findings indicate that the 3rd amendment removed the minimum revenue requirements for Baker Hughes for 2H'22. Additionally, C3.ai will pay a $16m commission payment to Baker Hughes for business booked in 1H'22 before April 30, 2022. Further fine print details reveal changes that we believe are more beneficial to Baker Hughes than to C3.",
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      "text": "3rd Amendment Appears Much More Beneficial To Baker Hughes, Punitive To C3",
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