{
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  "docSlug": "f39479b88775",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-08-01 00:00:00",
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  "pageNumber": 19,
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  "nDataPoints": 4,
  "notes": "The slide highlights the structural incentive for recruiting inherent in the compensation model.",
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      "kind": "callout",
      "text": "Retroactive Credits totaling 30% are paid to Business Representatives and their upline Distributors",
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      "kind": "callout",
      "text": "Retroactive Credits received on purchases by your downline incentivize recruiting",
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      "text": "Retroactive Credits: 30%",
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      "text": "For every “sale” by a Business Representative, Herbalife pays 30% of the value of that sale in Retroactive Credits. The Business Representative receives 15-25%. The balance (5-15%) flows to his or her direct upline.",
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      "kind": "source-note",
      "text": "Source: Interviews with Herbalife Distributors in China",
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      "kind": "title",
      "text": "Retroactive Credits Paid to Upline Distributors",
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