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  "documentTitle": "Politan Capital Masimo Presentation May 2023",
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  "presentationDate": "2023-05-01 00:00:00",
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  "notes": "The slide uses a quote from a director to validate the 'poison pill' characterization of the employment agreement.",
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      "kind": "callout",
      "text": "As a result... Masimo has long been viewed as a controlled company that does not need to listen to its shareholders due to Mr. Kiani’s compensation agreement.",
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      "text": "Employment Agreement: ~$600M payment to Mr. Kiani ensures: Shareholders cannot replace more than 1/3rd of Board; No Lead Independent Director; Mr. Kiani must be CEO & Chairman; Agreement renews forever.",
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      "text": "Cercacor Licensing Agreement: Mr. Kiani is Chairman, CEO, and majority owner of Cercacor; Cercacor controls IP; If Mr. Kiani is not CEO/Chairman, $17M/year royalty is payable; Functioned as a second poison pill.",
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      "kind": "other",
      "text": "Company filings.",
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      "kind": "paragraph",
      "text": "But Politan, through litigation, has secured limited waivers exclusively for this year’s 2023 AGM.",
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      "kind": "quote",
      "text": "[Triggering the Special Payment is] “a very scary prospect for me in that it’s a lot of shares and a lot of dollars... I thought the employment agreement that existed alone was a sufficient poison pill and it was surprising to me that anyone would want two board seats...” Director Mikkelson, Deposition, Jan 2023",
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      "kind": "title",
      "text": "...And Mr. Kiani’s Employment Agreement Functions as a Poison Pill to Thwart Shareholders",
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