<SEC-DOCUMENT>0001214659-22-004159.txt : 20220321
<SEC-HEADER>0001214659-22-004159.hdr.sgml : 20220321
<ACCEPTANCE-DATETIME>20220321140316
ACCESSION NUMBER:		0001214659-22-004159
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220321
DATE AS OF CHANGE:		20220321
EFFECTIVENESS DATE:		20220321

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABBOTT LABORATORIES
		CENTRAL INDEX KEY:			0000001800
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				360698440
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02189
		FILM NUMBER:		22755386

	BUSINESS ADDRESS:	
		STREET 1:		100 ABBOTT PARK ROAD
		CITY:			ABBOTT PARK
		STATE:			IL
		ZIP:			60064-3500
		BUSINESS PHONE:		2246676100

	MAIL ADDRESS:	
		STREET 1:		100 ABBOTT PARK ROAD
		CITY:			ABBOTT PARK
		STATE:			IL
		ZIP:			60064-3500

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Unitarian Universalist Common Endowment Fund LLC
		CENTRAL INDEX KEY:			0001737248
		IRS NUMBER:				461269485
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		24 FARNSWORTH STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		(617) 948-4305

	MAIL ADDRESS:	
		STREET 1:		24 FARNSWORTH STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">March 24, 2022</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>ABBOTT LABORATORIES</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Please Support <U>Proposal for Report on Lobbying Spending and Governance</U></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">To Abbott Laboratories Shareholders:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The Unitarian Universalist Common Endowment Fund LLC is urging shareholders to vote
FOR Item 7 at the Abbott Laboratories (&ldquo;Abbott&rdquo;) shareholder meeting on April 29, 2022.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">This notice of exempt solicitation is being provided on a voluntary basis.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The proposal asks Abbott to prepare an annual report on the governance, management
oversight, policies and expenditures related to federal and state lobbying.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="padding: 1%; border: Black 1pt solid">



<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-indent: 0.5in"><B>Resolved, </B>the shareholders of Abbott request the preparation
of a report, updated annually, disclosing:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Payments by Abbott used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the
amount of the payment and the recipient.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Abbott&rsquo;s membership in and payments to any tax-exempt organization that writes and endorses model legislation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Description of management&rsquo;s and the Board&rsquo;s decision-making process and oversight for making payments described in sections
2 and 3 above.</TD></TR></TABLE>

</DIV>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Transparency and accountability in corporate spending to influence public policy
are in the best interests of Abbott shareholders. Without a clear system ensuring accountability, corporate assets can be used to promote
public policy objectives which can pose reputational and misalignment risks to the detriment of shareholder value.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Proponent has reached out to the company on multiple occasions over the last several
years to invite dialogue on lobbying disclosure. Finally in 2022, a conversation took place with in-house counsel to &ldquo;assess whether
further conversation with public policy staff was warranted.&rdquo; There was no further communication from the company.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Abbott&rsquo;s missing disclosures</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The Company&rsquo;s current disclosures around its lobbying expenditures and oversight
does not address the requests in this proposal. Below are the four asks in this proposal and Abbott&rsquo;s responses:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Abbott only discloses those responsible for the management and oversight of lobbying, not the actual policy and procedures that guide
the process.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">2.</FONT></TD><TD>Payments by Abbott used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the
amount of the payment and the recipient.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott does not report the amounts spent for indirect lobbying or grassroots communications.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Company reports direct lobbying expenditures to the required offices in the Senate and House of Representatives. In other words, Abbott
obeys the law. Since we would expect any company in which we invest to be law abiding, this is a low bar for performance.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">3.</FONT></TD><TD>Abbott&rsquo;s membership in and payments to any tax-exempt organization that writes and endorses model legislation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>The Company is silent about whether it supports such organizations.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">4.</FONT></TD><TD>Description of management&rsquo;s and the Board&rsquo;s decision-making process and oversight for making payments described in sections
2 and 3 above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Nothing is reported on the decision-making process by management or the framework for oversight by the board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Summary analysis</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">1.</FONT></TD><TD>Abbott Laboratories expends a significant amount of money on lobbying, $4.3 million in 2021.<SUP>1</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">2.</FONT></TD><TD>Shareholders are paying increasing attention to corporate lobbying. Lobbying related resolutions have recently received majority votes
at Exxon, FedEx, Norfolk Southern, Netflix and Geo Group.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">3.</FONT></TD><TD>Abbott&rsquo;s peers provide lobbying disclosure consistent with that requested in this proposal.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">4.</FONT></TD><TD>The Company points to its rating on the CPA-Zicklin Index as evidence that its lobbying disclosure is best practice. But the Zicklin
Index rates election spending disclosure, not lobbying disclosure.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">5.</FONT></TD><TD>The lack of transparency and clear accountability around corporate lobbying creates risks to the company and its investors: potential
damage to reputation and misalignment between lobbying efforts and company strategy and values.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>1. Abbott&rsquo;s spending on lobbying is significant</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Nationally, according to several studies<SUP>2</SUP>, corporate spending on lobbying
represents at least ten times corporate election spending. And Abbott&rsquo;s spending on lobbying is substantial.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>_____________________________</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>1</SUP> https://www.opensecrets.org/federal-lobbying/clients/summary?id=D000000383</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>2</SUP> Political activity of firms: The role of firm-lobbying networks and
industry trade associations, Indraneel Chakraborty, Richard Evans and R&uuml;diger Fahlenbrach; https://www.depts.ttu.edu/rawlsbusiness/about/finance/research-seminar/documents/Lobbying_CEF_01Apr2015.pdf;
Adam&nbsp;Bonica, &ldquo;Avenues of Influence: On the Political Expenditures of Corporations and Their Directors and Executives,&rdquo;
December 3, 2013</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>Federal lobbying</I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Abbott is among the top three medical device companies in lobbying spending.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott spent $8,390,000 in 2020 and 2021 on federal lobbying activities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Since 2010, Abbott has spent $46.1 million on federal lobbying.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott was one of the top three lobbying medical device companies for the previous five years,<SUP>3</SUP> <FONT STYLE="color: #0A0A0A">while
a new study published by JAMA found that Abbott spent $96.6 million on its lobbying efforts from 1999 to 2018.<SUP>4</SUP></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>State lobbying </I></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Abbott&rsquo;s spending at the state level is likely significant, but information
difficult to find. Obtaining comprehensive information on lobbying at the state level is described by one expert as &ldquo;nearly impossible&rdquo;
given &ldquo;the &lsquo;Byzantine&rsquo; manner in which the data is captured and made available online&rdquo; which effectively buries
information at many states.<SUP>5</SUP></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott&rsquo;s state-level lobbying spending is likely significant, reportedly lobbying in 37 states.<SUP>6</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>In California, where disclosure is mandated, Abbott spent $1,116,882 from 2010 to 2021 on lobbying.<SUP>7</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B><I>International lobbying</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott also lobbies abroad, reportedly spending between &euro;200,000 &ndash; &euro;299,000 on lobbying in Europe for 2020.<SUP>8</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>2. Investor support for lobbying transparency</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Because of the reputational risk and potential damage to shareholder value, there
is growing investor support worldwide for lobbying transparency from their portfolio companies.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>In the fall of 2019, 200 institutional investors with a combined $6.5 trillion in assets under management&nbsp;issued a report entitled
&ldquo;Investor Expectations on Climate Lobbying&rdquo; that called on companies to disclose their &ldquo;direct and indirect lobbying
on climate change policies&rdquo; and &ldquo;The company&rsquo;s membership in, or support for, third party organizations that engage
on climate change issues.&rdquo;<SUP>9</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>3</SUP> https://www.nbcnews.com/health/health-care/medical-device-makers-spend-millions-lobbying-loosen-regs-d-c-n940351</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>4</SUP> https://www.medtechdive.com/news/advamed-medtronic-among-top-20-pharma-and-health-product-lobbyists-of-the/573362/</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>5</SUP> &ldquo;Wal-Mart Improves Lobbying Disclosure after Shareholder Push,&rdquo;
<U>Reuters</U>, May 13, 2015, https://www.reuters.com/article/us-wal-mart-stores-disclosure-lobbying-e/exclusive-wal-mart-improves-lobbying-disclosure-after-shareholder-push-idUSKBN0NY0AH20150513.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>6</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://publicintegrity.org/politics/state-politics/here-are-the-interests-lobbying-in-every-statehouse/</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>7</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://cal-access.sos.ca.gov/Lobbying/Employers/Detail.aspx?id=1146891&amp;session=2021&amp;view=activity</FONT><FONT STYLE="font-family: Times New Roman; font-size: 10pt">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>8</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=578132036311-72</FONT><FONT STYLE="font-family: Times New Roman; font-size: 10pt">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>9</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.ceres.org/news-center/press-releases/200-investors-call-us-companies-align-climate-lobbying-paris-agreement</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>The International Corporate Governance Network (ICGN) representing&nbsp;more than $18 trillion in assets, supports lobbying disclosure
and political spending disclosure as best practice, and supports disclosure of any payments over $10,000.<SUP>10</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Last year, support for shareholder proposals on corporate political activity reached record levels (43% in 2021 versus 36% in 2020)
<SUP>11</SUP> including 14 majority votes.<SUP>12</SUP> This is unprecedented and reflects growing investor concerns about the risks inherent
in corporate lobbying on public policy issues.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>In 2022, some 46 shareholder proposals requesting enhanced lobbying transparency have been filed and 18 withdrawn by March 14 after
proponents came to agreement with companies.<SUP>13</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>3. Other companies are reporting on significant lobbying and public policy issues</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Corporate best practice on lobbying disclosure is evolving, both on spending transparency
and consistency of public policy positions.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Companies have begun producing reports which assess the alignment between company positions, including on climate change, and the
positions and lobbying of their key trade associations.<SUP>14</SUP> Examples of companies producing reports include BP<SUP>15</SUP>,
CSX, Ford Motor Company, GM and Shell.<SUP>16</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott&rsquo;s trade association disclosure lags many of its peer group members which disclose their trade associations payments and
the amounts used for lobbying, including 3M, Becton Dickinson, Boston Scientific, Bristol-Myers Squibb, Johnson &amp; Johnson, Medtronic,
Merck and United Technologies.<SUP>17</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>4. The board statement of opposition confuses lobbying and election spending</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">This proposal specifically addresses the Company&rsquo;s lobbying activities, not
its involvement in elections and campaigns for political office. In fact, Abbott has been recognized for its election spending disclosure
by the Center for Political Accountability (CPA). Its annual Zicklin Index, prepared in collaboration with the Wharton School, places
Abbott among the 148 first tier companies. This is to be commended, but it does not in any way address lobbying, the subject of this proposal.
In the Board&rsquo;s statement of opposition, it conflates electoral and lobbying spending and implies that the CPA recognition is for
lobbying disclosure as well as election spending. It is not. To so state is misleading.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>10</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.icgn.org/sites/default/files/ICGN%20Political%20Lobbying%20%26%20Donations%202017.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>11</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.conference-board.org/blog/environmental-social-governance/Record-Support-Political-Activity-SHPs</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>12</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.asyousow.org/press-releases/2021/6/24/record-breaking-year-for-environmental-social-and-sustainable-governance-shareholder-resolutions</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>13</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://ceres.org/news-center/press-releases/shareholders-escalate-campaign-pressing-companies-walk-their-talk</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>14</SUP> https://www.washingtonpost.com/climate-environment/2020/02/25/bp-pull-out-trade-groups-over-climate-policies/</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>15</SUP></FONT>
h<FONT STYLE="font-family: Times New Roman; font-size: 10pt">ttps://www.bp.com/en/global/corporate/news-and-insights/bp-magazine/bp-releases-trade-associations-report.html</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>16</SUP></FONT>
h<FONT STYLE="font-family: Times New Roman; font-size: 10pt">ttps://www.shell.com/media/news-and-media-releases/2019/shell-publishes-reports-on-industry-associations-sustainability.html</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>17</SUP> 3M, Becton Dickinson, Bristol-Myers Squibb and Merck disclose their
trade association payments used for lobbying. Boston Scientific, Johnson &amp; Johnson, Medtronic, and United Technologies disclose also
disclose their trade association payments, as well as the amounts of those payments used for lobbying.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">And digging more deeply into the Zicklin ratings tells a different story. Most of
the indicators with the highest potential scores relate directly to elections &ndash; e.g. spending on candidates, parties, 527 groups,
and independent expenditures &ndash; but on indicators that do overlap with lobbying &ndash; trade associations and 501(c)4 groups &ndash;
Abbott scores 3 of 6 on the former and 0 on the latter. In other words, in these specific areas, CPA agrees that Abbott&rsquo;s disclosure
is lacking.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>5. Lack of transparency on lobbying creates risk</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Corporations make payments to trade associations that are used lobby indirectly on
their behalf without specific disclosure or accountability. Since the trade associations represent that they speak for their member companies,
there can be misalignment between trade association positions and company policy positions. Reputational damage stemming from this misalignment
between general policy positions and actual direct and indirect lobbying efforts may harm long-term shareholder value.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Abbott shareholders face a trade association blind spot, as Abbott fails to disclose
all of its trade association memberships, and does not disclose its trade association payments, nor the portions of these payments used
for lobbying.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott currently lists 2020 memberships<SUP>18</SUP> in 14 trade associations, including the Business Roundtable (BRT), National Association
of Manufacturers and the Chamber of Commerce. Together these three trade associations spent over $108 million on federal lobbying for
2020,<SUP>19</SUP> yet shareholders have no way to know how much of this is comprised of Abbott&rsquo;s payments, nor can they see how
much of the Company&rsquo;s trade association payments go towards lobbying.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott serves on the board of the Advanced Medical Technology Association (AdvaMed)<SUP>20</SUP> and belongs to the Medical Device
Manufacturers Association, which have drawn scrutiny for lobbying to weaken mandatory disclosure of medical device incidents, as well
as lobbying on decreasing taxes on devices, increasing insurance coverage and reimbursement and the FDA&rsquo;s approval process for bringing
a device to market.<SUP>21</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt">Further, Abbott doesn&rsquo;t
disclose 501(c)(4) social welfare organizations spending (aka dark money), including all payments used for lobbying, as requested by the
proposal. Social welfare groups can engage in lobbying. </FONT>Proponents and other supporters of this resolution are asking Abbott to
illustrate its commitment to corporate political responsibility by disclosing ALL payments to third-party groups that use our dues money
to influence policy (&lsquo;dark money payments&rsquo;).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Phony Grassroots&rdquo; Campaigns - There are multiple examples of pharmaceutical industry&rsquo;s involvement in campaigns
which solicit criticism from outside groups, some of which it finances or staffs, to create the impr<FONT STYLE="font-size: 10pt">ession
of a broad-based support for positions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Abbott supports social welfare groups like the Alliance for Aging Research, which lobbies and ran Facebook ads opposing drug pricing
legislation.<SUP>22</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>18</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.abbott.com/investors/governance/corporate-political-participation.html</FONT><FONT STYLE="font-family: Times New Roman; font-size: 10pt">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>19</SUP> <FONT STYLE="font-size: 10pt">OpenSecrets.org, (Business Roundtable
- $16,970,000; National Association of Manufacturers - $9,268,000; U.S. Chamber of Commerce - $81,910,000), accessed March 11, 2022.</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>20</SUP></FONT>
h<FONT STYLE="font-family: Times New Roman; font-size: 10pt">ttps://www.advamed.org/members/board-directors</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>21</SUP> https://www.nbcnews.com/health/health-care/medical-device-makers-spend-millions-lobbying-loosen-regs-d-c-n940351</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman; font-size: 10pt"><SUP>22</SUP></FONT>
<FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.prwatch.org/news/2020/01/13525/ex-pharma-lobbyist-embedded-white-house-tanked-drug-pricing-bill-while-his-former</FONT><FONT STYLE="font-family: Times New Roman; font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Abbott has its lobbying information and could easily report it to shareholders</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Abbott claims that &ldquo;[p]reparing and maintaining the report &hellip; would have
added cost and effort but not increased shareholder value.&rdquo; and &ldquo;[r]ehashing existing disclosures would needlessly waste corporate
resources.&rdquo; But these arguments are disingenuous, as Abbott is required to report its federal and state lobbying and already has
all of this information. In fact, elsewhere in the statement of opposition, it says &ldquo;every year, the Board's Public Policy Committee
reviews a report of Abbott's major trade association memberships, the amount of dues, and the amount used for lobbying.&rdquo; In other
words, the report already exists and could easily be provided to shareholders.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">For all of the above reasons, we believe that Abbott&rsquo;s current lobbying disclosures
are inadequate to protect shareholder interests. We urge you to vote FOR Item 7, the shareholder proposal requesting a report on the Company&rsquo;s
lobbying expenditures.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Tim Brennan</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Special Advisor on Responsible Investing</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Unitarian Universalist Association</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>This is not a solicitation of authority to vote your proxy. Please DO NOT send
us your proxy card; the </B>Unitarian Universalist Association <B>is not able to vote your proxies, nor does this communication contemplate
such an event. The </B>Unitarian Universalist Association <B>urges shareholders to vote for Item 4 following the instructions provided
on management&rsquo;s proxy mailing.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman; margin: 0pt 0">6</P>

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