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  "documentTitle": "Hess Corporation (HES)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott Management",
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  "presentationDate": "2013-01-29 00:00:00",
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  "notes": "The chart highlights Hess (HES) as an outlier with high compensation and negative 5-year total return.",
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      "kind": "callout",
      "text": "Hess's cumulative CEO compensation over the past 5 years ranks in the 73rd percentile relative to peers, while total shareholder returns over the same 5 year period rank in the 20th percentile",
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      "text": "Hess's cumulative CEO compensation over the past 5 years ranks in the 73rd percentile relative to peers, while total shareholder returns over the same 5 year period rank in the 20th percentile(1)\nHess Say on Pay received 51% support(2)\n427th out of 450 S&P 500 companies(3)\n149th out of 156 Energy companies(3)\nFor context, average S&P 500 shareholder support for “Say on Pay” votes in 2012 was 87%(3)\n4 of the 5 Hess directors currently up for re-election sit on the compensation committee",
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      "text": "5 Year Cumulative CEO Compensation: 0.6%",
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      "text": "Sources: Company Filings, Bloomberg\n1. Proxy Peers include Anadarko, Apache, BP, Chevron, ConocoPhillips, Devon, EOG, Exxon, Marathon, Murphy, Occidental, Shell, Statoil, Talisman and Total; listed in Hess's annual proxy statement for LTIP determination purposes\n2. ISS Voting Analytics; Hess estate is assumed to support Say on Pay and is excluded from calculation\n3. ISS Voting Analytics; Other companies did not have say on pay votes; Hess estate is not excluded from calculation\n4. Shareholder Returns and Market Capitalization as of 11/28/12, date before which Elliott began to purchase a substantial amount of Hess stock",
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      "text": "Poor compensation practices are indicative of weak corporate governance",
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      "kind": "title",
      "text": "Board Has Failed to Align Compensation with Performance",
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