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  "authorName": "Starboard Value",
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  "notes": "Uses authority-citation to validate the activist's claims against the target company.",
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      "text": "ISS has raised serious concerns regarding AOL's pay for performance practices.(5)\nGlass Lewis has rated AOL's compensation program structure as \"Poor.\"(3)\nImmediate action must be taken to address these serious issues.",
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      "text": "AOL has consistently compared itself to some of the world's largest companies, many of which seem to not only be outside of the range recommended by these leading independent proxy advisory firms, but also appear not to be comparable businesses.\nIn fact, 95% of the companies AOL selected for its 2010 Peer Group do not fit within the peer group guidelines of both ISS and Glass Lewis.(1,2)\nEven after Glass Lewis stated that 80% of AOL's 2010 Peer Group was outside of its recommended market cap range,(3) AOL has failed to make the appropriate changes.\nIn fact, 89% of the companies AOL selected for its 2011 Peer Group still do not fit within the peer group guidelines of both ISS and Glass Lewis.(1,3,4)",
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      "text": "(1) Based on ISS guidelines... (2) AOL 2010 Proxy Peer Group... (3) 2011 Glass Lewis proxy paper... (4) AOL 2011 Proxy Peer Group... (5) 2010 ISS report on AOL.",
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      "text": "Leading independent proxy advisory firms have also expressed serious concerns with AOL's Peer Group and compensation practices",
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