Document:

Unassociated Document

    
       

    

    Exhibit
      10.23

     

    

    
      	 	
              February
                15, 2007

            

    

     

    

    Mr.
      Andrew H. Tisch

    667
      Madison Avenue

    New
      York,
      New York 10021

    

    

    Dear
      Mr.
      Tisch:

    

    Reference
      is made to your Employment Agreement with Loews Corporation (the “Company”),
      dated January 1, 1999, as amended by agreements dated as of January 1, 2002,
      January 1, 2003, January 1, 2004 and as of February 11, 2005 (the “Employment
      Agreement”).

    

    This
      will
      confirm our agreement that the Employment Agreement is amended as
      follows:

    

    1. Term
      of Employment.
      The
      period of your employment under and pursuant to the Employment Agreement is
      hereby extended for an additional period through and including March 31, 2008
      upon all the terms, conditions and provisions of the Employment Agreement,
      as
      hereby amended.

    

    2. Compensation.
      You
      shall be paid as basic compensation (the “Basic Compensation”) for your services
      to the Company and its subsidiaries under and pursuant to the Employment
      Agreement a salary at the rate of Nine Hundred Seventy-Five Thousand ($975,000)
      Dollars per annum through March 31, 2008. Basic Compensation shall be payable
      in
      accordance with the Company’s customary payroll practices as in effect from time
      to time, and shall be subject to such increases as the Board of Directors of
      the
      Company, in its sole discretion, may from time to time determine. 

    

    3. Incentive
      Compensation Plan.
      In
      addition to receipt of Basic Compensation under the Employment Agreement, you
      shall participate in the Incentive Compensation Plan for Executive Officers
      of
      the Company (the “Compensation Plan”) and shall be eligible to receive incentive
      compensation under the Compensation Plan as may be awarded in accordance with
      its terms. 

    

    4. Other
      Compensation.
      The
      compensation provided pursuant to this Letter Agreement shall be exclusive
      of
      compensation and fees, if any, to which you may be entitled as an officer or
      director of a subsidiary of the Company.

    

    Except
      as
      herein modified or amended, the Employment Agreement shall remain in full force
      and effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      Andrew H. Tisch

    As
      of
      February 15, 2007

    Page
      2

     

    If
      the
      foregoing is in accordance with your understanding, would you please sign the
      enclosed duplicate copy of this Letter Agreement at the place indicated below
      and return the same to us for our records.

    

    

    
      	 	 	 	
              Very
                truly yours,

            	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
              LOEWS
                CORPORATION

            	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
              By:

            	
              /s/
                Gary W. Garson

            	 
	 	 	 	 	
              Gary
                W. Garson

            	 
	 	 	 	 	
              Senior
                Vice President

            	 
	
               

            	 	 	 	 	 
	
              ACCEPTED
                AND AGREED TO:

            	 	 	 	 	 
	 	 	 	 	 	 
	
              /s/
                Andrew H. Tisch

            	 	 	 	 	 
	
              Andrew
                H. TischUnassociated Document

    Exhibit
      10.32

    

    

    
      	 	
              February
                15, 2007

            

    

    

    

    Mr.
      James
      S. Tisch

    667
      Madison Avenue

    New
      York,
      New York 10021

    

    

    Dear
      Mr.
      Tisch:

    

    Reference
      is made to your Employment Agreement with Loews Corporation (the “Company”),
      dated January 1, 1999, as amended by agreements dated as of January 1, 2002,
      January 1, 2003, January 1, 2004 and as of February 11, 2005 (the “Employment
      Agreement”).

    

    This
      will
      confirm our agreement that the Employment Agreement is amended as
      follows:

    

    1. Term
      of Employment.
      The
      period of your employment under and pursuant to the Employment Agreement is
      hereby extended for an additional period through and including March 31, 2008
      upon all the terms, conditions and provisions of the Employment Agreement,
      as
      hereby amended.

    

    2. Compensation.
      You
      shall be paid as basic compensation (the “Basic Compensation”) for your services
      to the Company and its subsidiaries under and pursuant to the Employment
      Agreement a salary at the rate of Nine Hundred Seventy-Five Thousand ($975,000)
      Dollars per annum through March 31, 2008. Basic Compensation shall be payable
      in
      accordance with the Company’s customary payroll practices as in effect from time
      to time, and shall be subject to such increases as the Board of Directors of
      the
      Company, in its sole discretion, may from time to time determine. 

    

    3. Incentive
      Compensation Plan.
      In
      addition to receipt of Basic Compensation under the Employment Agreement, you
      shall participate in the Incentive Compensation Plan for Executive Officers
      of
      the Company (the “Compensation Plan”) and shall be eligible to receive incentive
      compensation under the Compensation Plan as may be awarded in accordance with
      its terms. 

    

    4. Other
      Compensation.
      The
      compensation provided pursuant to this Letter Agreement shall be exclusive
      of
      compensation and fees, if any, to which you may be entitled as an officer or
      director of a subsidiary of the Company.

    

    Except
      as
      herein modified or amended, the Employment Agreement shall remain in full force
      and effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      James
      S. Tisch

    As
      of
      February 15, 2007

    Page
      2

     

    If
      the
      foregoing is in accordance with your understanding, would you please sign the
      enclosed duplicate copy of this Letter Agreement at the place indicated below
      and return the same to us for our records.

    

    

    
      	 	 	 	
              Very
                truly yours,

            	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
              LOEWS
                CORPORATION

            	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
              By:

            	
              /s/
                Gary W. Garson

            	 
	 	 	 	 	
              Gary
                W. Garson

            	 
	 	 	 	 	
              Senior
                Vice President

            	 
	
               

            	 	 	 	 	 
	
              ACCEPTED
                AND AGREED TO:

            	 	 	 	 	 
	 	 	 	 	 	 
	
              /s/
                James S. Tisch

            	 	 	 	 	 
	
              James
                S. TischUnassociated Document

    Exhibit
      10.41

    

    

    
      	 	
              February
                15, 2007

            

    

    

    

    Mr.
      Jonathan M. Tisch

    667
      Madison Avenue

    New
      York,
      New York 10021

    

    

    Dear
      Mr.
      Tisch:

    

    Reference
      is made to your Employment Agreement with Loews Corporation (the “Company”),
      dated January 1, 1999, as amended by agreements dated as of January 1, 2002,
      January 1, 2003, January 1, 2004 and as of February 11, 2005 (the “Employment
      Agreement”).

    

    This
      will
      confirm our agreement that the Employment Agreement is amended as
      follows:

    

    1. Term
      of Employment.
      The
      period of your employment under and pursuant to the Employment Agreement is
      hereby extended for an additional period through and including March 31, 2008
      upon all the terms, conditions and provisions of the Employment Agreement,
      as
      hereby amended.

    

    2. Compensation.
      You
      shall be paid as basic compensation (the “Basic Compensation”) for your services
      to the Company and its subsidiaries under and pursuant to the Employment
      Agreement a salary at the rate of Nine Hundred Seventy-Five Thousand ($975,000)
      Dollars per annum through March 31, 2008. Basic Compensation shall be payable
      in
      accordance with the Company’s customary payroll practices as in effect from time
      to time, and shall be subject to such increases as the Board of Directors of
      the
      Company, in its sole discretion, may from time to time determine. 

    

    3. Incentive
      Compensation Plan.
      In
      addition to receipt of Basic Compensation under the Employment Agreement, you
      shall participate in the Incentive Compensation Plan for Executive Officers
      of
      the Company (the “Compensation Plan”) and shall be eligible to receive incentive
      compensation under the Compensation Plan as may be awarded in accordance with
      its terms. 

    

    4. Other
      Compensation.
      The
      compensation provided pursuant to this Letter Agreement shall be exclusive
      of
      compensation and fees, if any, to which you may be entitled as an officer or
      director of a subsidiary of the Company.

    

    Except
      as
      herein modified or amended, the Employment Agreement shall remain in full force
      and effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      Jonathan M. Tisch

    As
      of
      February 15, 2007

    Page
      2

    

    If
      the
      foregoing is in accordance with your understanding, would you please sign the
      enclosed duplicate copy of this Letter Agreement at the place indicated below
      and return the same to us for our records.

    

    

    
      	 	 	 	
              Very
                truly yours,

            	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
              LOEWS
                CORPORATION

            	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	
              By:

            	
              /s/
                Gary W. Garson

            	 
	 	 	 	 	
              Gary
                W. Garson

            	 
	 	 	 	 	
              Senior
                Vice President

            	 
	
               

            	 	 	 	 	 
	
              ACCEPTED
                AND AGREED TO:

            	 	 	 	 	 
	 	 	 	 	 	 
	
              /s/
                Jonathan M. Tisch

            	 	 	 	 	 
	
              Jonathan
                M. Tisch

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