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  "documentTitle": "J.P.Morgan | Shareholder Engagement Presentation Deck | 17 slides",
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      "text": "The CMDC strongly emphasizes assessing sustained performance over the long-term; and",
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      "text": "CMDC considered alternative performance measures including TSR and chose to maintain ROTCE given its strong correlation to long-term TSR outperformance. The CMDC considers ROTCE the most appropriate and comprehensive metric of long-term operating performance, which is more directly influenced by management effectiveness (see quantitative analysis on page 51 in Proxy)",
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      "text": "Determine total compensation based on that performance",
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      "text": "Our CEO's pay is in line with or below that of our peers, despite our larger size, scale, complexity, global reach and consistently stronger earnings (see pages 43 and 44 in Proxy)",
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      "text": "CMDC reviews and calibrates ROTCE¹ hurdles each year based on:\n1. Medium- and long-term market conditions;\n2. Historical ROTCE performance in the banking industry; and\n3. The current outlook on ROTCE over the next three years",
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      "text": "Environmental & social, human capital, and governance factors are considered in the assessment of the three qualitative performance dimensions. These qualitative performance dimensions comprise a ~50% weighting in annual performance assessments (see page 47 in Proxy)",
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      "text": "Cash Awards, RSUs and PSUs are all determined based on the annual performance assessment before additional performance and vesting periods are applied to equity grants. The sequence of the process is as follows (see pages 41 and 42 in Proxy):",
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      "text": "To provide additional clarity on how the CMDC considers the amount of the CEO's annual pay relative to peers, we substantially enhanced our quantitative and graphical disclosure to demonstrate that:",
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      "text": "New disclosures were also added as a result of the Board's review of our compensation program",
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