<SEC-DOCUMENT>0000743773-13-000016.txt : 20130411
<SEC-HEADER>0000743773-13-000016.hdr.sgml : 20130411
<ACCEPTANCE-DATETIME>20130411150945
ACCESSION NUMBER:		0000743773-13-000016
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130411
DATE AS OF CHANGE:		20130411
EFFECTIVENESS DATE:		20130411

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			URBAN OUTFITTERS INC
		CENTRAL INDEX KEY:			0000912615
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-FAMILY CLOTHING STORES [5651]
		IRS NUMBER:				232003332
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22754
		FILM NUMBER:		13756075

	BUSINESS ADDRESS:	
		STREET 1:		5000 SOUTH BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19112
		BUSINESS PHONE:		2154545500

	MAIL ADDRESS:	
		STREET 1:		5000 SOUTH BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19112

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Calvert Variable Products, Inc.
		CENTRAL INDEX KEY:			0000743773
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		4550 MONTGOMERY AVENUE
		STREET 2:		SUITE 1000N
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		301-951-4800

	MAIL ADDRESS:	
		STREET 1:		4550 MONTGOMERY AVENUE
		STREET 2:		SUITE 1000N
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUMMIT MUTUAL FUNDS, INC.
		DATE OF NAME CHANGE:	20090122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUMMIT MUTUAL FUNDS INC
		DATE OF NAME CHANGE:	20000323

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CARILLON FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
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<FILENAME>cvppx14a6g041113.htm
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<P style="MARGIN: 0pt"><FONT color=black size=6 face="Times New Roman"><FONT style="FONT-SIZE: 22pt" lang=EN-US color=black face="Times New Roman">URBAN OUTFITTERS, INC. &#8211; URBN</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">Filed:&nbsp; April 11, 2013</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">Notice of Exempt Solicitation. Definitive Materials.</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">United States</FONT></FONT><FONT color=black size=5><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman"> Securities and Exchange Commission</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">Washington</FONT></FONT><FONT color=black size=5><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">, D.C. 20549</FONT></FONT><FONT color=black size=5><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman"> &nbsp;</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">Notice of Exempt Solicitation</FONT></FONT><FONT color=black size=2><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="Times New Roman"> &nbsp;</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT color=black size=5 face="Times New Roman"><FONT style="FONT-SIZE: 16pt" lang=EN-US color=black face="Times New Roman">Pursuant to Rule 14a-103</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">1. Name of Registrant: </FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Urban Outfitters, Inc.</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">2. Name of person(s) relying on exemption: </FONT></FONT></P>

<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">a.</FONT><FONT size=1 face="Times New Roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Calvert VP S&amp;P 500 Index Portfolio, acting through Calvert Investment Management,&nbsp;Inc.</FONT></FONT></P>

<P style="MARGIN: 0pt 0pt 0pt 31.5pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">b.</FONT><FONT size=1 face="Times New Roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">The Comptroller of the State of New York as trustee of the New York State Common Retirement Fund.<BR><BR></FONT></FONT></P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">c.&nbsp;&nbsp;&nbsp;&nbsp; The Treasurer of the State of Connecticut as trustee for the Connecticut Retirement Plans and Trust Funds.</FONT></FONT><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"> &nbsp;</FONT></P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">d.&nbsp;&nbsp;&nbsp;&nbsp; Portico Benefit Services / A Ministry of the ELCA</FONT></FONT></P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">e.&nbsp;&nbsp;&nbsp;&nbsp; Mercy Investment Services.</FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"><BR><BR></FONT>&nbsp;</FONT></FONT></P>

<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">3. Address of person(s) relying on Exemption: </FONT></FONT></P>

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<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">a.&nbsp;&nbsp;&nbsp;&nbsp; 4550 Montgomery Avenue, Suite 1000N, Bethesda, MD 20814 <BR><BR></FONT></FONT></P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">b.&nbsp;&nbsp;&nbsp;&nbsp; 110 State Street, Albany, NY 12236</FONT></FONT></P>

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<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">c.</FONT><FONT size=1 face="Times New Roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">55 Elm Street</FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">, Hartford, CT 06106</FONT></FONT></P>

<P style="MARGIN: 0pt 0pt 0pt 31.5pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">d.</FONT><FONT size=1 face="Times New Roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">800 Marquette Ave., Suite 1050</FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">, Minneapolis, MN 55402</FONT></FONT></P>

<P style="MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -22.5pt; MARGIN: 0pt 0pt 0pt 36pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">e.</FONT><FONT size=1 face="Times New Roman"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">2039 North Geyer Road</FONT></FONT><FONT color=black><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">, St. Louis, MO 63131</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">4. Written Materials: </FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT color=black size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">Attached are written materials, submitted pursuant to Rule 14a-6(g) promulgated under the Securities Exchange Act of 1934, in connection with a proxy proposal to be voted on at the Registrant&#8217;s 2013 Annual Meeting. </FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT color=black size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">IMPORTANT PROXY VOTING MATERIAL</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT size=3 face="Times New Roman"><B><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Shareholder Rebuttal to the Urban Outfitters, Inc.<BR>Opposition Statement Regarding Board Diversity</FONT></U></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0pt" align=center><FONT size=3 face="Times New Roman"><B><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">(p. 23 of Urban Outfitters&#8217; Proxy)</FONT></U></B></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Proposal # 6. Shareholder Proposal </FONT></B></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">This proposal has been filed by Calvert Investment Management, Inc., the Comptroller of the State of New York, Thomas P. DiNapoli, as the trustee of the New York State Common Retirement Fund, the Treasurer of the State of Connecticut as Trustee for the Connecticut Retirement Plans and Trust Funds, Portico Benefit Services, and Mercy Investment Services. These investors share a common concern about the lack of gender and racial diversity on the Board of Directors of Urban Outfitters.&nbsp; The proponents view diversity as a strategic business and investment imperative. We believe in an increasingly complex global marketplace, the ability to draw on a wide range of viewpoints, backgrounds, skills, and experience is critical to a company's success.&nbsp; Further, we recognize diversity as an essential measure of sound governance and a critical attribute to a well-functioning board. </FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Urban Outfitters&#8217; opposition statement and primary arguments against this proposal are that:</FONT></B></FONT></P>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">Urban Outfitters acknowledges the benefits of achieving board diversity but believes its existing processes are designed to identify the best possible nominees and the company would be unduly restricted by the imposition of gender and minority requirements on the nominating process.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">Urban Outfitters&#8217; employment policies and practices are guided by the fundamental principle that decisions are made on the basis of whether the individual&#8217;s personal capabilities and qualifications fit the Company&#8217;s needs and meet the requirements of the position.</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Our Rebuttal and Rationale for a YES vote follows:</FONT></B></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">This proposal seeks to expand current director selection criteria to include, among other considerations, diversity.&nbsp;&nbsp; While we appreciate that the Board agrees with the merits of achieving diversity throughout the company, we do not believe the company&#8217;s current director selection process sufficiently prioritizes diversity.&nbsp; We feel our Board is not capitalizing on the competitive advantages that a comprehensive approach to diversity can bring to bear and that this is reflected in the fact that our Board of Directors has no racial or gender diversity.&nbsp; The company&#8217;s policy of non-discrimination does not proactively address the lack of diversity among the Board of Directors.&nbsp; Urban Outfitters is a clear laggard within its peer group where </FONT></FONT>


<FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">approximately 90 percent of their S&amp;P 500 peers have at least one woman on their boards of directors. </FONT></FONT></P>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" face="Times New Roman">1.</FONT></B></FONT></P></TD>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" face="Times New Roman">Our current Board is NOT representative of its shareholders, consumers, or employees. </FONT></B></FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The Board claims it agrees with the &#8220;merits of achieving diversity&#8221; however the Board gives no indication how it plans to move from a board that has NO women and NO minorities to a board that is more reflective of its shareholders, consumers, and employees. The primary clientele for our company is women. In fact, three major brands of Urban Outfitters &#8211; Anthropologie, Free&nbsp;People, and BHLDN &#8211; target their merchandise ONLY to women. For our Board to properly respond to changing consumer needs, Urban Outfitters must take steps to address the lack of diversity on its board.&nbsp;&nbsp; </FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">In addition to consumer interests, Urban Outfitters must address the growing number of shareholders who believe that the company&#8217;s lack of women and minorities on the Board is a disadvantage.&nbsp; While the Board notes that our similar proposals, filed in 2011 and 2012, did not garner majority votes, the increase in shareholders supporting these proposals commands attention from the Board, as 39% voted in favor in 2012, versus 22% in 2011.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">We remain unconvinced that the company has truly recognized the value that diversity brings to bear on a range of issues.&nbsp; In our view, companies combining competitive financial performance with high standards of corporate governance, including board diversity, are better positioned to generate long-term value for their shareholders.&nbsp; As such, we urge the Board to broaden its pool of candidates and publicly commit to taking steps to establish an inclusive Board.</FONT></FONT></P>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" face="Times New Roman">2.</FONT></B></FONT></P></TD>

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   <P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" face="Times New Roman">The Urban Outfitters Board recommends a vote AGAINST by claiming the proposal is restrictive: </FONT></B></FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">The proposal recommends that the company </FONT><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">expand </FONT></I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">director searches to include nominees from both corporate positions beyond the executive suite and include non-traditional environments such as government, academia, and non-profit organizations.&nbsp; In this regard, we are encouraging the company to develop its current search process to ensure women and minorities are included among the pool of candidates considered.&nbsp; We are not recommending that the Board </FONT><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">limit&nbsp;</FONT></U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"> its nominations for director seats to women and minority candidates but rather that the Board evaluate and assess applications for such positions from diverse candidates.&nbsp; Rather than restricting the Board, our recommendations would enhance the board&#8217;s current selection process and require the board to review and evaluate a wider range of candidates.</FONT></FONT><FONT size=2><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"> &nbsp;</FONT></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Shareholders are urged to vote </FONT></B><B><U><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">FOR&nbsp;</FONT></U></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"> Proposal #6 following the instruction provided on the company&#8217;s proxy mailing.</FONT></B></FONT>
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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT></FONT>&nbsp;</P><FONT color=black size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE, U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN </FONT></B></FONT><FONT color=black size=3 face="Times New Roman"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US color=black face="Times New Roman">SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY.&nbsp; NO PROXY CARDS WILL BE ACCEPTED BY CALVERT INVESTMENT MANAGEMENT, INC. (CIM), ANY REGISTERED INVESTMENT COMPANY THAT HAS RETAINED CIM AS ITS INVESTMENT ADVISER (EACH A CALVERT FUND), THE NEW YORK STATE COMMON RETIREMENT FUND, THE CONNECTICUT RETIREMENT PLANS AND TRUST FUNDS (CRPTF), PORTICO BENEFIT SERVICES, OR MERCY INVESTMENT SERVICES.&nbsp; PLEASE DO NOT SEND YOUR PROXY TO CIM, ANY CALVERT FUND OR ANY OF THE OTHER AFOREMENTIONED ENTITIES.&nbsp; TO VOTE YOUR PROXY, PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD.&nbsp; THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY CIM, CERTAIN CALVERT FUNDS, THE NEW YORK STATE COMMON RETIREMENT FUND, CRPTF, PORTICO BENEFIT SERVICES, AND/OR MERCY INVESTMENTS.</FONT></B></FONT></DIV>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">For questions regarding </FONT></I><B><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">Urban Outfitters Proposal #6 on Board Diversity, </FONT></I></B><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">please contact Christine De Groot, Calvert Investments, 301.961.4754, christine.degroot@calvert.com.&nbsp; </FONT></I></FONT></P>

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<P style="MARGIN: 0pt"><FONT size=3 face="Times New Roman"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">#13068 (4/13)</FONT></FONT></P></DIV>

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