Document:

Amendment to Employment Agreement between Registrant and Andrew H. Tisch

Exhibit 10.08

 
 
 
 
 
 
 
 
	  	 February 15, 2011

 
 
 
 
 
 Mr. Andrew H. Tisch
 667 Madison Avenue
 New York, New York 10065
 
 

Dear Mr. Tisch:
  
 Reference is
made to your Amended and Restated Employment Agreement with Loews Corporation (the "Company") dated February 25, 2008 (as amended, 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, 2012 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, 2012.  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, 2011

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. TischAmendment to Employment Agreement between Registrant and James S. Tisch

Exhibit 10.15

 
 
 
 
 
 
 
 
	  	 February 15, 2011

 
 
 
 
 
 Mr. James S. Tisch
 667 Madison Avenue
 New York, New York 10065
 
 

Dear Mr. Tisch:
  
 Reference is
made to your Amended and Restated Employment Agreement with Loews Corporation (the "Company") dated February 25, 2008 (as amended, 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, 2012 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, 2012.  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, 2011

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. TischAmendment to Employment Agreement between Registrant and Jonathan M. Tisch

Exhibit 10.22

 
 
 
 
 
 
 
 
	  	 February 15, 2011

 
 
 
 
 
 Mr. Jonathan M. Tisch
 667 Madison Avenue
 New York, New York 10065
 
 

Dear Mr. Tisch:

 
 Reference is made to your Amended and Restated Employment Agreement with Loews Corporation (the "Company") dated February 25, 2008 (as amended, 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, 2012 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, 2012.  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, 2011

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. TischExhibit A dated February 21, 2011, to the Employment Agreement

 Exhibit 10.7 

 

 

  

	To:	Todd Strubbe 

	From:	West Corporation Compensation Committee 

	Date:	February 21, 2011 

  

	Re:	Exhibit A 

  

This Exhibit A for 2011 is entered into pursuant to your Employment Agreement. 

 

	1.	Your base salary will be $500,000.00. 

  

	2.	Effective January 1, 2011, you will be eligible to receive a bonus based on achieving the Unified Communications segment Net Operating Income before Corporate
Allocations and Before Amortization at the rate outlined below. 

  

			
	 Net Operating Income Before Corporate

    Allocations and Before Amortization
	  	Rate
	             $0 - $411,622,000
	  	0.0972%
	            Over $411,622,000
	  	1.0%

 A maximum of 75% of
the pro-rata portion of the bonus may be advanced quarterly. If any portion of the bonus is advanced, it will be paid within thirty (30) days from the end of the quarter. 100% of the total bonus earned will be paid no later than
February 28, 2012. In the event there is a negative calculation at the end of any quarter and a pro-rata portion of the bonus has been advanced in a previous quarter, “loss carry forward” will result and applied to the next quarterly
or year-to-date be applied to the next quarterly or year-to-date calculation. In the event that at the end of the year, or upon your termination if earlier, the aggregate amount of the bonus which has been advanced exceeds the amount of bonus that
otherwise would have been payable for 2011 (in the absence of advances) based on the performance during 2011, (or, in the case of your termination, based on the performance during 2011 and the projection for performance for the balance of 2011 as of
your termination date), then the amount of such excess may, in the discretion of the Compensation Committee, either (i) result in a “loss carry forward” which shall be applied to the next quarterly or year-to-date calculation of bonus
payable in subsequent periods, or (ii) be required to be paid back to the company upon such request. 
  

	3.	In addition, if West Corporation achieves its 2011 publicly stated EBITDA guidance, you will be eligible to receive an additional one-time bonus of $100,000. This bonus
is not to be combined or netted together with any other bonus set forth in this agreement. 

  

	4.	All objectives are based upon West Corporation and the Unified Communications segment operations, and will not include income derived from other mergers, acquisitions,
joint ventures, stock buy backs or other non-operating income unless specifically and individually approved by West Corporation’s Compensation Committee. 

 

	5.	At the discretion of the Compensation Committee, you may receive an additional bonus based on the Company’s and your individual performance.

  

			
	 /s/ Todd Strubbe
	 	
	Employee – Todd Strubbe

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