Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 17

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 17
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� | maintain a fully independent Compensation Committee, which oversees all aspects of our executive compensation and monitors, reviews and approves all executive compensation decisions; |

| ▪ | structure our cash incentive compensation awards to executive officers so that the Compensation Committee may exercise negative discretion over these awards; |

| ▪ | structure our executive officers’ stock-based compensation to be performance-based; |

| ▪ | have a clawback policy that allows for the recoupment of incentive compensation; |

| ▪ | do not have employment agreements with, or guarantee compensation to, any of our executive officers; |

| ▪ | do not have agreements with any of our executive officers to pay severance upon a change in control; and |

| ▪ | conduct an annual shareholder advisory vote on our executive compensation practices. We have received a large majority vote in favor of our executive pay program every year since implementing this vote. |

Compensation Program Structure and Process The principal components of compensation for our named executive officers are:

| ▪ | base salary; |

| ▪ | performance-based cash incentive compensation awards; |

| ▪ | performance-based stock-based awards; and |

| ▪ | retirement, medical and related benefits. |

Each year, our Chief Executive Officer, after consulting with our Vice President, Human Resources, reviews with the Compensation Committee the performance of each named executive officer and each other executive officer, and makes a recommendation to the Compensation Committee with respect to their annual compensation, including the setting of parameters for cash incentive compensation awards and stock-based awards. The Compensation Committee then meets in executive session without the Chief Executive Officer present and makes the final

| 26 |     | Loews Corporation2025 Proxy Statement |

TABLE OF CONTENTS Executive Compensation

determination regarding the compensation for our Chief Executive Officer and each of the other named executive officers, as well as our other executive officers. The other named executive officers do not play any role in their own compensation determination other than discussing their performance with the Chief Executive Officer, and neither our Chief Executive Officer nor any other executive officer participates in the Compensation Committee’s final deliberations on compensation matters. BASE SALARY The Compensation Committee has capped the base salary for our named executive officers at $1 million per year for many years. Historically, this reflected the impact of provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”) that limited the amount of non-performance-based compensation we were able to deduct for federal income tax purposes to $1 million for certain of the named executive officers.