Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 44

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 44
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 Committee. Any performance goals may be measured in absolute terms or relative to historic performance, the performance of other companies or other indices. Following the completion of each performance period, the Committee will determine whether the applicable performance goals have been met with respect to a participant and, if they have, will determine the amount payable under the applicable award. CHANGE IN CONTROL The following will apply upon a “change in control” of the Company (as defined in the 2025 Plan), unless otherwise evidenced in the applicable award terms. Continuation/Assumption/Substitution of Awards. With respect to each outstanding award that is continued, assumed or substituted in connection with a change in control:

| ▪ | as of the date of the change in control, any outstanding awards subject to the achievement of performance goals will be deemed to be achieved as of the date of the change in control at the target performance level (unless the Compensation Committee determines to apply a higher achievement level) and will cease to be subject to any further performance conditions, but will continue to be subject to any period of continued service following the change in control in accordance with the applicable vesting dates in the applicable award terms; and |

| ▪ | if the participant is terminated without “cause” (as defined in the 2025 Plan) or resigns with “good reason” (as defined in the 2025 Plan) within 18 months following the change in control, then awards granted prior to the change in control will become fully vested; and |

| ○ | all stock options and SARs will become exercisable, and will remain exercisable throughout their term; and |

| ○ | all awards other than stock options and SARs will be settled as soon as reasonably practicable, but in no event later than ten days following the termination of employment, subject to Section 409A. |

No Continuation/Assumption/Substitution of Awards. With respect to each outstanding award that is not continued, assumed or substituted in connection with a change in control:

| ▪ | as of the date of the change in control, any outstanding awards subject to the achievement of performance goals will be deemed to be achieved as of the date of the change in control at the target performance level (unless the Compensation Committee determines to apply a higher achievement level); |

| ▪ | all stock options and SARs will be deemed exercised in full; and |

| ▪ | all awards other than stock options and SARs will become fully vested and will be settled as soon as reasonably practicable,