Document:

Exhibit 10.28

                      SUPPLEMENTAL RETIREMENT AGREEMENT
                      ---------------------------------

  AGREEMENT made on September 21, 1999 between LOEWS CORPORATION (the
                              --
"Company") and Arthur Rebell the "Executive").

                                 WITNESSETH:

  WHEREAS, the Executive is currently serving as an executive employee of the
Company, and the Company and the Executive desire that the Executive's
retirement benefits be supplemented on the terms and conditions set forth
herein.

  NOW, THEREFORE, the parties agree as follows:

  1.  In connection with his employment by the Company, the Executive shall be
entitled to the following, in addition to his compensation and benefits:

     (a)  An account (the "Account") shall be established for the Executive
          (which shall not be funded) which shall be credited each year
          commencing in 1999. The Executive shall become eligible and vested
          in the Account as of January 1, 1999. The Account shall be credited
          on the last day of each calendar year with the Pay-Based Credit
          which would have been credited under Section 3.2 of the Loews
          Corporation Cash Balance Plan (the "Plan") if the definition of
          Compensation under Section 1.9 of the Plan had not included the
          second sentence thereof.

     (b)  The Account shall be credited with an initial balance in the amount
          of $500,000 on June 30, 1999.

     (c)  The amount credited under paragraph (1)(b) above will be deemed to
          be Compensation under paragraph 1 and eligible for a Pay-Based
          Credit for calendar year 1999.

     (d)  The Account shall be credited on the last day of each calendar year
          with the Interest Credit which would have been credited under
          Section 3.3 of the Plan. It is intended that the Account shall
          receive one half year's Interest Credit on the last day of calendar
          year 1999 for the initial balance of $500,000 for the calendar year
          1999.

     (e)  The Account shall be accumulated until the Executive's termination
          of employment. At such time, the amount in the Account shall be
          converted into an actuarially equivalent annuity, payable at the
          Executive's election in the form of a single life annuity, a joint
          and survivor annuity, or a 10 year certain annuity, payable
          monthly. For purposes of this Agreement, the term "actuarial
          equivalent" shall have the meaning ascribed to it in Section 1.3 of
          the Plan.

  2.  In lieu of the benefits due under the preceding paragraphs, the
Executive may request (at least one year prior to retirement) to receive the
accumulated balance in the Account as a lump sum upon retirement, provided
that such request is approved by the Chief Executive Officer of the Company.

  3.  If the Executive should die before payments have commenced under the
preceding paragraphs, and in lieu of the benefits due under the preceding
paragraphs, the accumulated balance in the Account shall be paid as soon as
practicable after the Executive's death to his wife, Adele, if living, and if
not, then to the Arabel Foundation, Inc., a New York Corporation. The
Executive may revoke such beneficiary designation and designate a new
beneficiary or beneficiaries by giving written notice as provided in

                                       2

Paragraph 5 below. Such alternative beneficiary designation must be received
prior to the Executive's death.

  4.  The amount of any payments under the preceding paragraphs shall be
reduced by that portion of any benefits payable under the Plan and under the
Loews Corporation Benefit Equalization Plan which are attributable to the same
compensation. Thus, for example, if the Executive becomes vested under the
Plan, Pay-Based Credits to the Account (and Interest Credits thereon) under
paragraph (1)(a) of this Agreement based on the amount of duplicated
compensation would be deemed eliminated.

  5.  All notices, requests, designations and other communications provided
for by this Agreement shall be in writing and shall be personally delivered or
mailed by registered or certified mail to the address of the party to whom
intended as specified below or notice sent in accordance with this Paragraph.

                 If to the Company, at:
                       667 Madison Avenue
                       New York, N.Y.  10021
                       Attention:  Corporate Secretary

                 If to the Executive, at:
                       372 Canterbury Lane
                       Wyckoff, N.J.  07481

Any such writings shall be effective upon receipt.

  6.  This Agreement sets forth the entire understanding between the parties
with respect to the subject matter hereof and supersedes all prior
understandings and agreements. No change, termination or waiver of any of the
provisions hereof shall be binding unless in writing and signed by the party
against whom the same is sought to be

                                     3

enforced. The Agreement shall be governed by and construed in accordance with
the laws of the State of New York.

  IN WITNESS WHEREOF, the parties hereto have caused these presents to be duly
executed as of the day and year first above written.

                                     LOEWS CORPORATION

                                     By: /s/ James S. Tisch
                                         ---------------------

Accepted and Agreed to:

/s/ Arthur L. Rebell
--------------------------
The Executive

                                     4EXHIBIT 10(q) - MATERIAL CONTRACTS

                               BONUS AGREEMENT

This Bonus Agreement is entered into this 1st day of August, 1999, by and
between National Western Life Insurance Company of 850 East Anderson Lane,
Austin, TX 78752-1602 ("NWL" or "we") and Richard M. Edwards 6528 Heron Drive,
Austin, TX 78759 ("you" or "your").

WHEREAS,  Richard M. Edwards is employed by NWL as Senior Vice President-
International Marketing and has supervision over all international marketing
efforts of NWL; and

WHEREAS, the parties desire to establish a bonus compensation arrangement as
an incentive for Richard M. Edwards to meet certain production and production-
related standards.

NOW THEREFORE, the parties agree as follows:

I. NWL will pay you four different and independent bonuses, as set forth
below, under the following terms and conditions:

A. Bonus 1 - First Year Life Persistency Rate Bonus

     1.   NWL  will  pay  you  a  bonus  based  on  the  12/31/99  Persistency
          Percentage  of  the  13th  month  persistency  calculations  for
          international  life  insurance  policies.  The  data  source  for
          determining the company Persistency Percentage rate shall be the
          report entitled "Company Persistency Report-International-
          Without Annuities", which is provided by the NWL Information
          Services  Department, using "Premiums- 13 Month Persistency."

     2.   The Persistency Percentage will then determine the amount of the
          bonus as follows (only one section shall apply):

          a.   No bonus shall be paid if the Persistency Percentage is below
               93%.
          b.   If the Persistency Percentage is equal to 93%, then the bonus
               shall be  $9,000.
          c.   If the Persistency Percentage is greater than 93% but less than
               96%, then the bonus shall be $9,000 plus $750 for each 1% over
               93%, or a pro-rata amount thereof for percentages stated as
               other than whole percentages.
          d.   If the Persistency Percentage is equal to 96%, then the bonus
               shall be $11,250.
          e.   If the Persistency Percentage is greater than 96% but less than
               99%, then the bonus shall be $11,250 plus $2,250 for each 1%
               over 96%, or a pro-rata amount thereof for percentages stated
               as other than whole percentages.
          f.   If the Persistency Percentage is equal to 99%, then the bonus
               shall be $18,000.
          g.   If the Persistency Percentage is greater than 99%, then the
               bonus shall be $18,000 plus $4,220 for each additional 1% that
               the Persistency Percentage exceeds 99%, or a pro-rata share
               thereof for percentages stated as other than whole percentages.

     3.   The assumptions that will be used in the calculation of the First-
          Year Life Persistency Rate Bonus is as follows:

          a.   That the "Company Persistency Report-International-Without
               Annuities" is the same report used for agency convention
               qualification purposes;
          b.   That the above mentioned report does not reflect true one-year
               persistency, but reflects the persistency of policies written
               in the most recent 12 months; and
          c.   That the 13 Month Persistency Percentage will be calculated as
               of 12/31/99, based on premiums.

B. Bonus 2 - Second-Year Life Persistency Rate Bonus

     1.   NWL  will  pay  you  a  bonus  based  on  the  12/31/99  Persistency
          Percentage  of  the  24th  month  persistency  calculations  for
          international  life  insurance  policies.  The  data  source  for
          determining the company Persistency Percentage rate shall be the
          report entitled  "Company Persistency Report-International-Without
          Annuities", which is provided by the NWL Information Services
          Department, using "Premiums-24 Month Persistency".

     2.   The Persistency Percentage will then determine the amount of the
          bonus as follows (only one section shall apply):

          a.   No bonus shall be paid if the Persistency Percentage is below
               89%.
          b.   If the Persistency Percentage is equal to 89%, then the bonus
               shall be $9,000.
          c.   If the Persistency Percentage is greater than 89% but less than
               92%, then the bonus shall be $9,000 plus $750 for each 1% over
               89%, or a pro-rata amount thereof for percentages stated as
               other than whole percentages.
          d.   If the Persistency Percentage is equal to 92%, then the bonus
               shall be $11,250.
          e.   If the Persistency Percentage is greater than 92% but less than
               95%, then the bonus shall be $11,250 plus $2,250 for each 1%
               over 92%, or a pro-rata amount thereof for percentages stated
               as other than whole percentages.
          f.   If the Persistency Percentage is equal to 95%, then the bonus
               shall be $18,000.
          g.   If the Persistency Percentage is greater than 95%, then the
               bonus shall be $18,000 plus $4,220 for each additional 1% that
               the Persistency Percentage exceeds 95%, or a pro-rata share
               thereof  for  percentages  stated  as  other  than    whole
               percentages.

     3.   The assumptions that will be used in the calculation of the Second-
          Year Life Persistency Rate Bonus is as follows:

          a.   That the "Company Persistency Report-International-Without
               Annuities" is the same report used for agency convention
               qualification purposes;
          b.   That the above mentioned report does not reflect true two-year
               persistency, but reflects the persistency of policies written
               in the most recent 24 months; and
          c.   That the 24 Month Persistency Percentage will be calculated as
               of 12/31/99, based on premiums.

C. Bonus 3 - Collected International Life First-Year Premiums Bonus

     1.   NWL will pay you a bonus based on Collected International Life
          First-Year Premiums. The data source used for determining the Total
          Collected Premiums will be the report No. UT69-003, International
          U.L. and International Non-U.L., using the fields "First Year
          Premium" and "Single Premium".

     2.   The Total Collected Premiums shall be calculated as follows:

          There are two components of the Total Collected Premiums: the
          International First Year Premiums and the International Single
          Premiums.

          a.   International First Year Premiums shall be determined by adding
               both the International U.L. and the International Non-U.L.
               "First Year Premium" from the UT69-003 Report as of 12/31/99.
          b.   International Single Premiums shall be determined by adding
               both the International U.L. and the International Non-U.L.
               "Single Premium" from the UT69-003 Report as of 12/31/99.

          The International Single Premiums will then be multiplied by 5% to
          determine the amount of  International Single Premiums to be
          included in the bonus calculation.  This amount will then be added
          to the International First-Year Premiums to determine the Total
          Collected Premiums.

     3.   The Total Collected Premium will then determine the amount of the
          bonus as follows (only one section shall apply):

          a.   No bonus will be paid if the Total Collected Premium is less
               than $12 million.
          b.   If the Total Collected Premium equals $12 million, then the
               bonus shall be $42,000.
          c.   If the Total Collected Premium is greater than $12 million but
               less than $15 million, then the bonus shall be $42,000 plus
               $350 for each additional $100,000 over $12 million, or a pro-
               rata share thereof.
          d.   If the Total Collected Premium equals $15 million, then the
               bonus shall be $52,500.
          e.   If the Total Collected Premium is greater than $15 million but
               less than $18 million, then the bonus shall be $52,500 plus
               $1,050 for each additional $100,000 over $15 million, or a pro-
               rata share thereof.
          f.   If the Total Collected Premium is equal to $18 million, then
               the bonus shall be $84,000.
          g.   If the Total Collected Premium is greater than $18 million,
               then the bonus shall be $84,000 plus $1,425 for each additional
               $100,000 over $18 million, or a pro-rata amount thereof.

     4.   The assumptions made in calculation of this bonus are as follows:

          a.   That  100%  of  the  International  First-Year  Life  Insurance
               Premium is included;
          b.   That 5% of the International Single Premium Life Insurance is
               included;
          c.   That the Total Collected Premium includes no renewal life
               insurance premiums;
          d.   That this bonus is based on international life insurance
               premiums only and excludes all domestic premiums; and
          e.   That this bonus is calculated for the calendar year 1999, as of
               12/31/99.

D.  Bonus 4 - Collected International Investment Contract First-Year and
Single Deposit Bonus

     1.   NWL  will  pay  you  a  bonus  based  on  collected  International
          Investment Contract and annuity first-year and single deposits and
          premiums.  The data source for determining the Total Collected
          Deposits will be the report New Business Market Summary - Report #5.

     2.   The Total Collected Deposits shall be the International Annuity Paid
          Premium YTD as determined from the New Business Market Summary -
          Report #5.

     3.   The Total Collected Deposits shall then be multiplied by .0005 which
          result will be the amount of the bonus.

     4.   The assumptions made in calculation of this bonus are as follows:

          a.   That the bonus is based on first-year and single deposits only.
          b.   That this bonus is based on International Investment Contract
               and annuity first-year and single deposits and premiums only
               and excludes all domestic premiums or deposits.
          c.   That this bonus includes no renewal premiums or deposits or any
               premiums or deposits after first year.
          d.   That this bonus is determined as of 12/31/99 and is based on
               1999 premiums and deposits only.

II. All bonus performance is based on production produced between January 1,
1999 and December 31, 1999.

III. All bonuses will be calculated after December 31,1999, based on reports
as of December 31, 1999.

IV. All bonuses will be calculated and paid, if amounts are due, as soon as
reasonably possible after January 1, 2000, but no later than February 1, 2000.

V. During the year 1999, if you request or have requested, NWL may make or may
have made advances to you against such bonuses in amounts determined by NWL.
Any advances to you will offset any bonuses due. Amounts of bonus compensation
that exceed the advances will be due and owing to you and will be paid by
February 1, 2000. Any amounts of advances that exceed bonuses due will result
in an amount due and owing by you, and such amounts will be paid by you on or
before February 1, 2000. Any amount of advances due and owing by you and not
paid by you to NWL by February 1, 2000, will be deducted by NWL from your
future  compensation.  You  expressly  agree  to  such  deductions  from  your
compensation, including salary.

This does not limit NWL's right to initiate litigation against you to recover
any debt owed by you to NWL. If the parties cannot agree on a payment schedule
and if it is necessary for NWL to file suit against you to recover such debts,
you agree to pay to NWL its attorneys fees and court costs incurred in
collecting said debts.

As of August 31, 1999, NWL has advanced to you a total of $772 relating to
your 1999 bonus.  This entire amount shall be designated as an earned advance
on your year-end 1999 bonus.

You  have also received bonuses in 1998 based on specific paid annualized life
premium production during that year.  More specifically, you were paid a bonus
equal to 1.5% of the 1998 international first year paid annualized life
premiums in excess of a minimum threshold of $9,000,000.  This bonus for 1998
totaled  $76,703  (($14,113,528  -  $9,000,000)  x  1.5%).    The  total  paid
annualized life premiums on which bonuses were paid as of December 31, 1998,
totaled $5,113,528 ($14,113,528 less $9,000,000 threshold). The parties agree
that an amount equal to $3,835 will be designated as an unearned 1998 bonus and
this amount will be deducted from your 1999 earned bonuses.

VI. The term of this contract is from January 1, 1999 to December 31, 1999.
Under no circumstances will this bonus agreement automatically renew for the
following year. Both you and NWL must sign a separate agreement if renewal of
this agreement is desired.

VII. In order to qualify for the bonus and be paid the bonus, you must be
employed by NWL on the date that the bonus is actually paid by NWL.

During the year 1999, if your employment with NWL is terminated for any reason
other than your voluntary termination or "termination for cause" by NWL, NWL
will, following year-end, determine whether or not any bonus would have been
due for 1999.  If NWL decides that such a  bonus would have been due,
considering all off-sets and deductions that might be imposed under this
agreement, NWL will pay a pro-rata portion of the bonus to you, or if you are
not living at that time then to your spouse, or if you and your spouse are not
living at that time, then to your children.

The pro-rata portion will be determined by dividing the total number of days
of 1999 up to your date of termination, by the total number of days in 1999,
and multiplying that result times the bonus as described above in the
preceding paragraph.

"Termination for cause" means termination for inappropriate or unsatisfactory
work performance, work habits, conduct, behavior or demeanor including, but
not  limited  to,  the  examples  listed  in  the  Code  of  Conduct  that  is
incorporated in NWL's Employee Handbook.

VIII.  Nothing in this agreement limits NWL's authority to make ALL decisions
concerning  products, including, but not limited to, profitability issues,
commission  and  overwrite  amounts,  publications,  advertising,  compliance,
market conduct, underwriting, and availability.

IX. This agreement shall not be amended, modified, or altered in any manner
except in a writing signed by both parties. This agreement shall be governed,
interpreted and construed according to the laws of the State of Texas.

X. This agreement constitutes the complete and exclusive agreement of the
parties with respect to your Bonus Compensation and supersedes any prior
understandings or written or oral agreements between the parties respecting
this subject matter.

XI. This Bonus Agreement is binding upon signing. There are no conditions
precedent or subsequent, other than the conditions specifically mentioned in
this contract, that must occur before this contract becomes binding upon both
parties. There are no representations other than those expressly included in
this agreement relating to bonus compensation of Richard M. Edwards.

EXECUTED at Austin, Texas, on August _____, 1999.

NATIONAL WESTERN LIFE INSURANCE COMPANY

By:  /S/ Ross R. Moody
     Ross R. Moody, President

     /S/ Richard M. Edwards
     Richard M. Edwards
     Senior Vice President-International Marketing

     I acknowledge that I have read, understand and agree to the above terms
in section V relating to advances. Furthermore, I agree that these terms shall
also apply to any advances already made to me during the year 1999 prior to
signing this agreement. I agree to repay any debt owed by me to NWL by
February 1, 2000. In default of such repayment, I authorize NWL to deduct the
debt created by advances from my salary or any other compensation in amounts
and at times determined by NWL.

     /S/ Richard M. Edwards
     Richard M. Edwards

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]