Recent observations of partial X-ray eclipses from 4U1822-37 have shown that the central X-ray source in this system is diffused by a large Compton-thick accretion disk corona (ADC). Another binary, 4U2129-47, also displays a partial eclipse and contains an ADC. The possible origin of an ADC is discussed and a simple hydrostatic evaporated ADC model is developed which, when applied to 4U1822-37, 4U2129+47 and Cyg X-3, can explain their temporal and spectral properties. The quasi-sinusoidal modulation of all three sources can be reconciled with the partial occultation of the ADC by a bulge at the edge of the accretion disk which is caused by the inflowing material. The height of this bulge is an order of magnitude larger than the hydrostatic disk height and is the result of turbulence in the outer region of the disk. The spectral properties of all three sources can be understood in terms of Compton scattering of the original source spectrum by the ADC. Spectral variations with epoch in Cyg X-3 are probably caused by changes in the optical depth of the corona. A consequence of our model is that any accreting neutron star X-ray source in a semi-detached binary system which is close to its Eddington limit most likely contains an optically thick ADC.