<SEC-DOCUMENT>0001398344-19-020291.txt : 20191114
<SEC-HEADER>0001398344-19-020291.hdr.sgml : 20191114
<ACCEPTANCE-DATETIME>20191114131840
ACCESSION NUMBER:		0001398344-19-020291
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20191114
DATE AS OF CHANGE:		20191114
EFFECTIVENESS DATE:		20191114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ORACLE CORP
		CENTRAL INDEX KEY:			0001341439
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				542185193
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35992
		FILM NUMBER:		191218546

	BUSINESS ADDRESS:	
		STREET 1:		500 ORACLE PARKWAY
		STREET 2:		MAIL STOP 5 OP 7
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94065
		BUSINESS PHONE:		6505067000

	MAIL ADDRESS:	
		STREET 1:		500 ORACLE PARKWAY
		STREET 2:		MAIL STOP 5 OP 7
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94065

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ozark Holding Inc.
		DATE OF NAME CHANGE:	20051013

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAX WORLD FUNDS SERIES TRUST I
		CENTRAL INDEX KEY:			0000076721
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		30 PENHALLOW STREET, SUITE 400
		CITY:			PORTSMOUTH
		STATE:			NH
		ZIP:			03801-3852
		BUSINESS PHONE:		800-767-1729

	MAIL ADDRESS:	
		STREET 1:		30 PENHALLOW STREET, SUITE 400
		CITY:			PORTSMOUTH
		STATE:			NH
		ZIP:			03801-3852

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAX WORLD BALANCED FUND
		DATE OF NAME CHANGE:	20061113

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAX WORLD BALANCED FUND INC
		DATE OF NAME CHANGE:	20040624

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAX WORLD FUND INC
		DATE OF NAME CHANGE:	19920703
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps; color: #341F60">Scott M. Stringer</FONT></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">November 14, 2019</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Vote FOR Proposal No. 4 at Oracle&rsquo;s
November 19, 2019, Annual Meeting<BR>
Requesting a Report on Pay Equity</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Dear Oracle Shareholder,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">We are writing to urge you to <B>VOTE &ldquo;FOR&rdquo; Proposal
No. 4 </B>on the Oracle 2019 proxy card, which asks the company to prepare a report about pay equity. The proposal makes the following
request:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>Resolved: Shareholders request Oracle prepare a report by April
2020 (at reasonable cost, omitting proprietary and confidential information), identifying whether a gender pay gap exists among
its employees, and, if so, outline the steps being taken to reduce the gap. The Organization for Economic Cooperation and Development
has defined the gender pay gap as the difference between male and female earnings expressed as a percentage of male earnings.</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>Supporting Statement: A report adequate for investors to assess
Oracle&rsquo;s strategy and performance would include the percentage pay gap between male and female employees across race and
ethnicity (including base, bonus and equity compensation), the methodology used to identify pay disparities, and a discussion of
policies, programs and goals to eliminate disparities and facilitate an environment that promotes equal access to advancement opportunities
for women and minorities.</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">We believe shareholders should vote <B><U>FOR</U></B> Proposal 4
for the following reasons:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>1.</B></TD><TD><B>Pay equity is a significant issue.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">There is a longstanding gender and racial pay gap in the U.S. According
to the U.S. Census Bureau, the median annual earnings for women working full-time was 80 percent that of men in 2016. Women of
all major racial and ethnic groups earn less than men of the same group.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Differences in age, education, experience and other legitimate drivers
of pay may explain some of this difference. However, a recent study by Glassdoor finds that even after adjusting for these factors,
there is an unexplained, statistically significant pay gap of 4.9% between men and women in the U.S. The adjusted gender pay gap
for women in the technology industry in the U.S. is higher than average, at 5.4%.<SUP>1</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">At the current rate of progress, Glassdoor estimates the pay gap
in the U.S will not fully close until 2070.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>1</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.glassdoor.com/research/app/uploads/sites/2/2019/02/Gender-Pay-Gap-2019-Research-Report.pdf</U></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>This is not a solicitation of authority to
vote your proxy.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Please DO NOT send us
your proxy card as it will not be accepted.</B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B>Oracle&rsquo;s alleged failure to adequately manage pay equity presents regulatory and reputational risks.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Companies, including Oracle, that exhibit significant pay disparities
by gender may bear disproportionate risk of regulatory infractions, litigation, or reputational damage that could harm shareholder
value and result in lost business. Multiple states have adopted strong equal pay laws. Employers with more than 250 employees in
the U.K., including Oracle UK<SUP>2</SUP>, must publish data about their gender pay gaps annually.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Oracle currently faces two separate legal actions alleging pay discrimination.
A lawsuit filed by the U.S. Department of Labor alleges systematic discrimination against female and minority employees at Oracle<SUP>3</SUP>:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Oracle underpaid women in its Product Development, Information Technology and Support job functions, resulting in pay disparities
as high as 20%, affecting more than 5,000 women during the period of the litigation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Asian employees were underpaid (compared to white employees) in Oracle&rsquo;s Product Development job function, resulting
in pay disparities as high as 8%, affecting more than 11,000 employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Black or African American employees (numbering fewer than 30) were underpaid compared to white employees in Oracle&rsquo;s
Product Development job function, resulting in pay disparities as high as 7.5%.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">These practices are estimated to have cost Oracle employees at least
$401,000,000 in lost wages for the period 2013-2016.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Oracle is also defending a parallel class action suit brought by
three former employees alleging that women software engineers are routinely paid less than men in similar jobs.<SUP>4</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>3.</B></TD><TD><B>Many companies, including Oracle peers, have already committed to and reported on pay equity.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">A number of companies have published information about their gender
pay equity practices and have committed to closing any disparities, including significant technology peers Apple, Amazon, Cisco
Systems, eBay, Intel, Microsoft, Salesforce, and SAP, among others. In fact, of the 11 competitors listed in Oracle&rsquo;s most
recent annual report, nine have already published the results of pay analyses and outlined the processes in place to support pay
equity.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By failing to comprehensively address this issue, Oracle may be
placing itself at a competitive disadvantage when it comes to talent recruitment and retention, particularly in light of the ongoing
lawsuits alleging pay inequity at the company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>4.</B></TD><TD><B>Oracle&rsquo;s current disclosure is inadequate and does not comprehensively address the issues we raise.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">As long-term investors, we seek assurance that Oracle is actively
managing this issue as part of its overall diversity and inclusion strategy. Oracle&rsquo;s current level of disclosure is inadequate
for investors to assess its commitment to and performance on this critical issue. Aside from the opposition statement filed in
response to our proposal, none of Oracle&rsquo;s public reporting addresses pay equity for U.S. employees.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>
</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>2</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.oracle.com/a/ocom/docs/oracle-gender-pay-gap-report-2018.pdf</U></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>3</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://src.bna.com/EXa</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>4</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.usatoday.com/story/tech/2017/09/29/oracle-yet-another-tech-firm-hit-suit-allegedly-paying-women-less-than-men/718471001/</U></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>This is not a solicitation of authority to
vote your proxy.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Please DO NOT send us
your proxy card as it will not be accepted.</B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">In its opposition statement, Oracle&rsquo;s board notes, &ldquo;Hiring
and promotion pay decisions are based on a variety of non-discriminatory factors...&rdquo; and &ldquo;Our compensation framework
aims to achieve equity&hellip;&rdquo; However, the allegations outlined by the Department of Labor raise questions regarding the
effectiveness of the company&rsquo;s current efforts. The opposition statement fails to provide any information on the specific
steps Oracle is taking to ensure equitable pay among employees, nor does it provide metrics that would provide insight into whether
pay disparities exist between male and female employees or on any corrective actions taken, as is requested in our proposal.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Of the nearly 20 companies that the Pax World Funds have engaged
on pay equity through the shareholder resolution process, Oracle stands out as the only company that has not participated in a
dialogue with the Funds or taken action to enhance pay equity disclosure following a shareholder vote.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Finally, Oracle shareholders have consistently demonstrated the
importance placed on this issue: This proposal received 39.2% shareholder support at Oracle&rsquo;s 2018 Annual Meeting and 38.7%
support in 2017. If the shares held by Chairman and founder Larry Ellison are excluded, the proposal received a significant 64.1%
support in 2018.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Pay equity may lead to greater gender diversity and talent retention, and gender diversity is associated with improved performance.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Mercer has found that active management of pay equity is a crucial
driver of gender diversity and that a compensation and benefits philosophy that has gender equality as a core element is positively
linked to better future outcomes for female representation.<SUP>5</SUP> Among the strategies Mercer outlines to drive impact
and advance diversity is &ldquo;ensure pay equity&mdash;remediate and close the gap.&rdquo;<SUP>6</SUP> Moreover, according to
research from PayScale, &ldquo;employee satisfaction goes up and intent to leave goes down when there is more transparency around
pay practices.&rdquo;<SUP>7</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Greater gender diversity has been correlated with improved financial
performance:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Credit Suisse has found that the financial outperformance of companies
with higher levels of women in management increases as the percentage of women increases.<SUP>8</SUP></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Morgan Stanley recently found that gender diversity is linked to better
returns for tech companies.<SUP>9</SUP></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Research also shows that greater gender diversity brings increased
innovation and better problem-solving, which is particularly relevant to the technology industry. Yet women continue to be significantly
underrepresented in the technology sector, comprising just 34 percent of that industry&rsquo;s workforce, and their representation
falls significantly as they move higher up in an organization.<SUP>10</SUP> Oracle&rsquo;s workforce composition reflects this:
Women comprise 30 percent of Oracle&rsquo;s employees, and just 24 percent of its leadership positions,<SUP>11</SUP> figures
that are virtually unchanged since 2016.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></P>


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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>5</SUP></FONT></TD><TD STYLE="text-align: justify"><U>http://www.mmc.com/content/dam/mmc-web/Files/Gender-Diversity-When-women-thrive-businesses-thrive-Mercer.pdf</U></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>6</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.mercer.com/content/dam/mercer/attachments/global/glb-2017-davos-wwt-wef-summary.pdf</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>7</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.payscale.com/compensation-today/2017/12/pay-transparency-uncomfortable-absolutely-worth-tips</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>8</SUP></FONT></TD><TD STYLE="text-align: justify"><U>http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=5A7755E1-EFDD-1973-A0B5C54AFF3FB0AE</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>9</SUP></FONT></TD><TD STYLE="text-align: justify"><U>http://www.morganstanley.com/ideas/gender-diversity-tech-companies?et_mid=15605&amp;et_mkid=e447ca85804c5776f23e794e218a6864</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>10</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.mercer.com/our-thinking/helping-women-thrive-an-imperative-for-the-tech-industry.html</U></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>11</SUP></FONT></TD><TD STYLE="text-align: justify"><U>https://www.oracle.com/assets/ccr-datasheet-3855392.pdf</U></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>This is not a solicitation of authority to
vote your proxy.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Please DO NOT send us
your proxy card as it will not be accepted.</B></P></P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt"><P STYLE="margin: 0pt; font: 9pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Conclusion</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">In light of the reasons and concerns outlined above, there is a
compelling case for enhanced pay equity reporting and oversight at Oracle. We strongly urge our fellow investors to <B>VOTE <U>FOR</U>
Proposal No. 4</B>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">For more information, please contact Heather Smith, Vice President
for Sustainable Investing at Pax World Funds, at <U>h.smith@impaxam.com</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Heather Smith</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Vice President for Sustainable Investing</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Pax World Funds</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Scott M. Stringer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">New York City Comptroller,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">On behalf of the</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">New York City Pension Funds</P>





<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>This is not a solicitation of authority to
vote your proxy.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Please DO NOT send us
your proxy card as it will not be accepted.</B></P></P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
