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  "documentTitle": "Hess Corporation (HES)",
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  "authorName": "Elliott Management",
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  "presentationDate": "2013-03-01 00:00:00",
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  "notes": "The slide uses a 'villain' framing by highlighting specific director names and their high compensation despite negative returns.",
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      "kind": "callout",
      "text": "Elliott nominees would not be compensated for underperformance: receive $30,000 for each 1% of outperformance versus peers.",
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      "text": "Hess has paid current directors more than $30 million over their tenure while delivering stockholders material underperformance",
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      "text": "Hess has paid current directors more than $30 million over their tenure while delivering stockholders material underperformance. Hess has purposefully mislead shareholders with false descriptions of nominees.",
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      "text": "Hess should stop paying millions of dollars to directors that have delivered terrible performance.",
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      "text": "Cumulative Compensation: $31.7 million",
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      "text": "John Hess was paid a cumulative $190 million over his tenure, despite underperforming peers by (460)%. Hess management was paid $32 million in 2012 despite underperforming peers by (10)%.",
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      "text": "Sources: Company Filings, Bloomberg. Notes on tenure, peer calculations, and inflation adjustments.",
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      "text": "History of Compensating for Underperformance Needs to Change Elliott Compensation Aligned with Long-Term Shareholder Interest",
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