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We propose a novel design concept for compact electro-optic modulators based on a horizontally slotted ridge waveguide using ferroelectric barium titanate (BaTiO3) as the electro-optically active material. A low voltage-length product is achieved by concentrating the propagating electromagnetic fields in the BaTiO3 layer. Thus, high overlap between the modulation electric fields and the guided light is achieved. The proposed waveguide structure features low propagation loss and can be easily fabricated with standard silicon fabrication techniques.