<SEC-DOCUMENT>0001140361-20-007608.txt : 20200401
<SEC-HEADER>0001140361-20-007608.hdr.sgml : 20200401
<ACCEPTANCE-DATETIME>20200401083018
ACCESSION NUMBER:		0001140361-20-007608
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20200512
FILED AS OF DATE:		20200401
DATE AS OF CHANGE:		20200401
EFFECTIVENESS DATE:		20200401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LOEWS CORP
		CENTRAL INDEX KEY:			0000060086
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				132646102
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06541
		FILM NUMBER:		20763801

	BUSINESS ADDRESS:	
		STREET 1:		667 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065-8087
		BUSINESS PHONE:		212-521-2000

	MAIL ADDRESS:	
		STREET 1:		667 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065-8087
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>brhc10010498-def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><br>
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      <div style="text-align: center; margin-bottom: 2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font>
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    <div style="text-align: center; margin-top: 4pt; font-family: 'Times New Roman'; font-size: 18pt; font-weight: bold;">SCHEDULE 14A</div>
    <div style="text-align: center; margin-top: 4pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Proxy Statement Pursuant to Section 14(a) of the</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Securities Exchange Act of 1934</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Amendment No.&#160; &#160; )</div>
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      <div style="text-align: center; margin-bottom: 2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><br>
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    <div style="margin-top: 4pt; font-family: 'Times New Roman'; font-size: 10pt;">Filed by the Registrant&#160; &#160; <font style="font-family: 'Segoe UI Symbol',sans-serif;">&#9746;</font></div>
    <div style="margin-top: 4pt; font-family: 'Times New Roman'; font-size: 10pt;">Filed by a Party other than the Registrant&#160; &#160; <font style="font-family: 'Segoe UI Symbol',sans-serif; font-weight: normal;">&#9744;</font></div>
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              <div style="text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Preliminary Proxy Statement</font></div>
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              <div style="text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></div>
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              <div style="text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Definitive Proxy Statement</font></div>
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              <div style="text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Definitive Additional Materials</font></div>
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              <div style="text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Soliciting Material under &#167;240.14a-12</font></div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 24pt; font-weight: bold;">LOEWS CORPORATION</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Name of Registrant as Specified In Its Charter)</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">No fee required.</div>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</div>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">(1)</div>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Title of each class of securities to which transaction applies:</div>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Aggregate number of securities to which transaction applies:</div>
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          <td style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was
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          <td style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">(5)</div>
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          <td colspan="1" style="width: 5%; vertical-align: top;">&#9744;</td>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous
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          <td colspan="1" style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
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          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
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          <td colspan="1" style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
          <td style="width: 90%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
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          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
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          <td style="width: 5%; vertical-align: top; padding-bottom: 1px;">&#160;</td>
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            <div style="font-family: 'Times New Roman'; font-size: 10pt;">(4)</div>
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            <div style="margin: 0px 0px 0px 5%; float: left; width: 80%;" id="EFPFTCL">
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                            <td style="width: 100%; vertical-align: top; background-color: #FFFFFF;">
                              <div style="margin: 0px 0px 3pt; font-family: 'Times New Roman'; font-size: 10pt;">667 Madison Avenue<br>
                                New York, NY 10065-8087</div>
                            </td>
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                      <div style="color: rgb(41, 98, 174); font-size: 28pt; font-weight: bold;"><a name="Notice"><!--Anchor--></a>Notice of<br>
                        2020<br>
                        Annual Meeting<br>
                        of Shareholders</div>
                      <div style="color: rgb(0, 0, 0); font-weight: 400;"> <br>
                      </div>
                      <div style="color: rgb(41, 98, 174); font-size: 28pt; font-weight: bold;">
                        <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
                          <div style="margin-bottom: 12pt; color: rgb(41, 98, 174); font-family: Arial; font-size: 28pt; font-weight: bold;">
                            <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">AGENDA:</div>
                          </div>
                        </div>
                        <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
                          <div style="margin-bottom: 8pt;">
                            <div>
                              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

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                                      <div style="font-weight: bold; font-size: 10pt;">1</div>
                                    </td>
                                    <td style="width: auto; vertical-align: top;">
                                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">To elect twelve directors named in this proxy statement;</div>
                                    </td>
                                  </tr>

                              </table>
                            </div>
                          </div>
                          <div style="margin-bottom: 8pt;">
                            <div>
                              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

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                                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">2</td>
                                    <td style="width: auto; vertical-align: top;">
                                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">To approve, on an advisory basis, the company&#8217;s executive compensation;</div>
                                    </td>
                                  </tr>

                              </table>
                            </div>
                          </div>
                          <div style="margin-bottom: 8pt;">
                            <div>
                              <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

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                                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">3</td>
                                    <td style="width: auto; vertical-align: top;">
                                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">To ratify the appointment of our independent auditors for 2020;</div>
                                    </td>
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                            </div>
                          </div>
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                                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">4</td>
                                    <td style="width: auto; vertical-align: top;">
                                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">To consider a shareholder proposal requesting certain disclosures regarding the company&#8217;s political contributions; and</div>
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                          </div>
                          <div style="margin-bottom: 8pt;">
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                                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">5</td>
                                    <td style="width: auto; vertical-align: top;">
                                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">To transact any other business as may properly come before the meeting or any adjournment or postponement.</div>
                                    </td>
                                  </tr>

                              </table>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                  <div style="float: right; width: 48%;">
                    <div style="text-align: right;"> <img src="image00001.jpg"></div>
                    <div style="text-align: right;"> <br>
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                    <div style="text-align: right;"> <br>
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                                  <td style="width: 99%; vertical-align: top; background-color: rgb(237, 237, 237);">
                                    <div style="margin: 5pt 0px 3pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">DATE:</div>
                                    <div style="background-color: #EDEDED;">
                                      <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Tuesday, May 12, 2020</div>
                                    </div>
                                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">TIME:</div>
                                    <div style="background-color: #EDEDED;">
                                      <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">11:00 a.m. </font>Eastern Time</div>
                                    </div>
                                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">PLACE:</div>
                                    <div style="background-color: #EDEDED;">
                                      <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">Via the Internet</font><br>
                                        <font style="font-style: italic;">www.virtualshareholdermeeting.com/L2020</font></div>
                                    </div>
                                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">RECORD DATE:</div>
                                    <div style="background-color: #EDEDED;">
                                      <div style="margin: 0px 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">March 17, 2020</div>
                                    </div>
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                            &#160;<br>
                          </div>
                        </div>
                      </div>
                    </div>
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                  <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt;"> <br>
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                              <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; margin-left: 9pt;">Shareholders of record at the close of business on March 17, 2020 are entitled to notice of
                                and to vote at the meeting and any adjournment or postponement.</div>
                            </div>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <br>
                  <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">YOUR VOTE IS IMPORTANT. PLEASE VOTE AS PROMPTLY AS POSSIBLE BY USING THE INTERNET OR TELEPHONE, OR IF YOU RECEIVED A PAPER COPY OF THE PROXY
                    MATERIALS, BY SIGNING, DATING AND RETURNING THE ACCOMPANYING PROXY CARD.</div>
                  <div><img src="image00004.jpg"></div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">By order of the Board of Directors,</div>
                  <div style="margin-top: 9pt; margin-bottom: 4pt; color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Marc A. Alpert</div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Senior Vice President, General Counsel and Secretary</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">April 1, 2020</div>
                </div>
                <div>
                  <div><br>
                  </div>
                </div>
                &#160;</div>
            </div>
            <div style="float: right; width: 5%;" id="EFPFTCR">
              <div>&#160;</div>
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        </div>
        <div><br>
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      <div><br>
      </div>
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      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
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      <div style="margin: 0px 0px 10pt; color: rgb(41, 98, 174); font-size: 26pt;"><a name="Contents"><!--Anchor--></a></div>
    </div>
    <br>
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    </div>
    <div style="margin: 0px 0px 0px 5%; float: left; width: 80%;" id="EFPFTCL">
      <div style="margin: 0px 0px 10pt; color: rgb(41, 98, 174); font-size: 26pt;">
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                    <div>
                      <div>
                        <div style="text-align: left; font-size: 8pt; font-weight: bold;">Table of Contents<br>
                        </div>
                      </div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="margin: 0px 0px 10pt; color: rgb(41, 98, 174);">Contents</div>
        </div>
        <div style="float: left; width: 48%;">
          <div>
            <div style="color: rgb(0, 0, 0);">
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#Notice">Notice of 2020 Annual Meeting of Shareholders</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">1</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#ProxySummary">Proxy Summary</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">3</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#ProposalNo.1:">Proposal No. 1: Election of Directors</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">5</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorNominatingProcess">Director Nominating Process</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">5</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorIndependence">Director Independence</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">6</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorNominees">Director Nominees</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">7</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#BoardGovernanceInformatio">Board Governance Information</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">12</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CorporateGovernance">Corporate Governance</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">12</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#BoardLeadershipStructure">Board Leadership Structure</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">12</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#BoardCommittees">Board Committees</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">13</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#ExecutiveSessionsofNon-Ma">Executive Sessions of&#160; Non-Management Directors</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">14</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorAttendanceatMeeti">Director Attendance at Meetings</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">14</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#BoardOversightofRiskManag">Board Oversight of Risk Management</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">15</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#ShareOwnershipGuidelinesf">Share Ownership Guidelines for Directors</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">15</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorCompensation">Director Compensation</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">16</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#TransactionswithRelatedPe">Transactions with Related Persons</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">17</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#StockOwnership">Stock Ownership</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">18</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#PrincipalShareholders">Principal Shareholders</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">18</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DirectorandOfficerHolding">Director and Officer Holdings</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">19</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;">
                        <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193);"><a href="#ProposalNo.2:">Proposal No. 2: Advisory Resolution to Approve Executive Compensation</a></div>
                      </div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">21</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#ExecutiveCompensation">Executive Compensation</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">22</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#CompensationDiscussionand">Compensation Discussion and Analysis</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">22</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#ExecutiveSummary">Executive Summary</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">22</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CompensationGovernance">Compensation Governance</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">25</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CompensationProgramStruct">Compensation Program Structure and Process</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">25</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);">
                        <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#A2019CompensationtoOurNam">2019 Compensation to Our Named Executive Officers</a></div>
                      </div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">32</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 94.94%; vertical-align: top;">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#OtherConsiderations">Other Considerations</a></div>
                    </td>
                    <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                      <div style="margin-top: 4pt;">35</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="float: right; width: 48%;">
          <div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193);">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#CompensationCommitteeRepo">Compensation Committee Report on Executive Compensation</a></div>
                    </div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">36</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top; color: rgb(0, 0, 0);">
                    <div style="margin-top: 4pt;">
                      <div style="margin-top: 4pt;"><a href="#CompensationCommitteeInte">Compensation Committee Interlocks and Insider Participation</a></div>
                    </div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">36</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#A2019Executiv">2019 Executive Compensation Tables</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">37</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#A2019SummaryCompensationT">2019 Summary Compensation Table</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">37</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CompensationPlans">Compensation Plans</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">39</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#PensionPlans">Pension Plans</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">49</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#DeferredCompensation">Deferred Compensation</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">50</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CEOPayRatio">CEO Pay Ratio</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">51</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193);">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193);">
                        <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#ProposalNo.3:">Proposal No. 3: Ratification of the Appointment of Our Independent Auditors</a></div>
                      </div>
                    </div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">52</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#AuditFeesandServices">Audit Fees and Services</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">52</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#AuditorEngagementPre-Appr">Auditor Engagement Pre-Approval Policy</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">53</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#AuditCommitteeReport">Audit Committee Report</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">54</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193);">
                      <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#ProposalNo.4:">Proposal No. 4: Shareholder Proposal Requesting Certain Disclosures regarding Political Contributions</a></div>
                    </div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">55</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CompanysStatementinOpposi">Company&#8217;s Statement in Opposition</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">56</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(5, 99, 193); font-weight: bold;"><a href="#AdditionalInformation">Additional Information</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 6pt; margin-bottom: 3pt; color: rgb(91, 155, 213); font-weight: bold;">57</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#Voting">Voting</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">57</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#OtherMatters">Other Matters</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">59</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);">
                      <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#SubmissionsofNominationso">Submissions of Nominations or Other Proposals for Our 2021 Annual Meeting</a></div>
                    </div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">59</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 94.94%; vertical-align: top;">
                    <div style="margin-top: 4pt; color: rgb(0, 0, 0);"><a href="#CommunicatingwithOurBoard">Communicating with Our Board</a></div>
                  </td>
                  <td style="width: 5.06%; vertical-align: bottom; text-align: right;">
                    <div style="margin-top: 4pt;">60</div>
                  </td>
                </tr>

            </table>
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        </div>
        <div> <br>
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                <td style="width: 100.00%;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 100.00%;" rowspan="1">
                  <div style="margin-bottom: 4pt; font-family: 'Times New Roman';">We are providing this Proxy Statement in connection with the solicitation by our Board of Directors (our &#8220;Board&#8221;) of proxies to be voted at our 2020 Annual Meeting of
                    Shareholders (our &#8220;Annual Meeting&#8221;), which will be held virtually at <font style="font-style: italic;">www.virtualshareholdermeeting.com/L2020</font>, on Tuesday, May 12, 2020, at 11:00 a.m., Eastern Time.</div>
                  <div style="margin-bottom: 4pt; font-family: 'Times New Roman';">Our mailing address is 667 Madison Avenue, New York, New York 10065-8087. Please note that throughout this Proxy Statement we&#160;refer to Loews Corporation as &#8220;we,&#8221; &#8220;us,&#8221;
                    &#8220;our,&#8221; &#8220;Loews&#8221; or the &#8220;company.&#8221;</div>
                  <div style="font-family: 'Times New Roman';">Information and reports on websites that we refer to in this Proxy Statement will not be deemed a part of, or otherwise incorporated by reference in, this Proxy Statement.</div>
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    <div style="float: right; width: 5%;" id="EFPFTCR">
      <div>&#160;</div>
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      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z6f9b1656afa9412e8fb6b641b3ebbabe">

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            <td style="width: 100.00%;" rowspan="1">&#160;</td>
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    <br>
    <div> </div>
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              <td style="width: 50%; font-weight: bold; font-size: 7pt;">2<br>
              </td>
              <td style="width: 50.00%;">
                <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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      <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="ProxySummary"><!--Anchor--></a></div>
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          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z3eac4fd31d6a4bb78b839372ad637139">

              <tr>
                <td style="width: 100.00%;">
                  <div>&#160;</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="float: left; width: 5%;" id="EFPFTCL">
          <div>&#160;</div>
        </div>
        <div style="margin: 0px 0px 0px 5%; float: left; width: 80%;" id="EFPFTCL">
          <div>
            <div>
              <div style="color: rgb(0, 0, 0); font-weight: 400;">
                <table cellspacing="0" cellpadding="2" border="0" id="z036b1b1150944388b9ccb827e3b5ecb9" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                    <tr>
                      <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                        <div>
                          <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proxy Summary</div>
                        </div>
                      </td>
                    </tr>

                </table>
                <div> <br>
                </div>
              </div>
              <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Proxy Summary</div>
              <div style="color: #2962AE; font-size: 10pt; font-weight: bold;">Important Notice Regarding the Availability of Proxy Materials for our Annual Meeting.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">This Proxy Statement, our 2019 Annual Report, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 12, 2020,
                and the proxy card are available at <font style="font-style: italic;">www.loews.com/reports.</font> </div>
              <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">AGENDA AND VOTING MATTERS</div>
            </div>
            <div><br>
            </div>
            <div>
              <table cellspacing="0" cellpadding="3" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zfff4e2f36b2e47a19070dddab086d9dc">

                  <tr>
                    <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 80%;">
                      <div style="color: rgb(41, 98, 174); font-size: 8pt;">Proposal</div>
                    </td>
                    <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 12%;">
                      <div style="color: rgb(41, 98, 174); font-size: 8pt;">Board</div>
                      <div style="color: rgb(41, 98, 174); font-size: 8pt;">Recommendation</div>
                    </td>
                    <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 8%;">
                      <div style="color: rgb(41, 98, 174); font-size: 8pt;">Page</div>
                      <div style="color: rgb(41, 98, 174); font-size: 8pt;">Reference</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 80%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">Proposal 1:</font><font style="color: rgb(41, 98, 174);">&#160;</font><font style="color: rgb(0, 0, 0);">Elect the twelve directors listed below</font></div>
                    </td>
                    <td style="width: 12%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">FOR</div>
                    </td>
                    <td style="width: 8%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;">5</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 80%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">Proposal 2:</font><font style="color: rgb(0, 0, 0);"> Approve on an advisory
                          basis the company&#8217;s executive compensation</font></div>
                    </td>
                    <td style="width: 12%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">FOR</div>
                    </td>
                    <td style="width: 8%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;">21</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 80%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">Proposal 3:</font><font style="color: rgb(0, 0, 0);"> Ratify the appointment
                          of the company&#8217;s independent auditors for 2020</font></div>
                    </td>
                    <td style="width: 12%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">FOR</div>
                    </td>
                    <td style="width: 8%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;">52</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 80%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman'; font-size: 8pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Proposal 4:</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"> Consider shareholder
                          proposal requesting certain disclosures regarding the company&#8217;s political contributions</font></div>
                    </td>
                    <td style="width: 12%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">AGAINST</div>
                    </td>
                    <td style="width: 8%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div style="text-align: justify; color: rgb(0, 0, 0); font-size: 8pt;">55</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 80%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Transact such other business as may properly come before the meeting or any adjournment or postponement thereof</div>
                    </td>
                    <td style="width: 12%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td style="width: 8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>

              </table>
            </div>
            <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">DIRECTOR NOMINEES</div>
            <table cellspacing="0" cellpadding="1" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z572e824ce201424cbb1f054228b2d8d2">

                <tr>
                  <td style="width: 51.33%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 4%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 7.33%; vertical-align: bottom;">&#160;</td>
                  <td colspan="4" style="border-bottom: 1px solid #2962AE; vertical-align: bottom; width: 37.33%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Board Committee Membership</div>
                  </td>
                </tr>
                <tr>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 51.33%;">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name &amp; Title</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 4%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Age</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 7.33%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Director</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Since</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 7.33%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Audit</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 10.67%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Compensation</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 10.67%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Nominating &amp;</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Governance</div>
                  </td>
                  <td style="border-bottom: 2px solid #2962AE; vertical-align: bottom; width: 8.67%;">
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Executive</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Ann E. Berman</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Retired Senior Advisor to the President, Harvard University</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">67</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2006</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Joseph L. Bower</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Donald K. David Professor Emeritus, Harvard Business School</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">81</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2001</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">CHAIR</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles D. Davidson</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Venture Partner, Quantum Energy Partners</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">70</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2015</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles M. Diker</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Managing Partner, Diker Management, LLC, Chairman, Cantel Medical Corp.</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">85</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2003</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt;">Paul J. Fribourg</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Chairman, President and CEO, Continental Grain Company</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Lead Independent Director</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">66</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">1997</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">CHAIR</div>
                  </td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Walter L. Harris</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Former President and CEO, FOJP Service Corp. and Hospital Insurance Co.</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">68</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2004</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">CHAIR</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Philip A. Laskawy</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Retired Chairman and CEO, Ernst &amp; Young LLP</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">78</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2003</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Susan P. Peters</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Retired Chief Human Resources Officer, General Electric Company</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">66</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">2018</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Office of the President, Co-Chairman of the Board, Loews Corporation</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">70</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">1985</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                    <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">CHAIR</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
                    <div style="margin-top: 1pt; font-size: 8pt;">Office of the President, President and Chief Executive Officer, Loews Corporation</div>
                  </td>
                  <td style="width: 4%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">67</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; font-size: 8pt;">1986</div>
                  </td>
                  <td style="width: 7.33%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 10.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 8.67%; vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="text-align: center; color: #2962AE;">&#9632;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 51.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
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                    <div style="text-align: center; font-size: 8pt;">1986</div>
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                    <div style="margin: 6pt 0px 0px 10.8pt; font-size: 8pt; text-indent: -10.8pt;">Further information regarding our director nominees is included under the heading &#8220;Director Nominees&#8221; beginning on page 7.</div>
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        <div> </div>
        <br>
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              <td style="width: 50%; font-weight: bold; font-size: 7pt;">
                <div style="text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
              </td>
              <td style="width: 50%; font-weight: bold; text-align: right; font-size: 7pt;">3<br>
              </td>
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    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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                    <div>
                      <div style="text-align: left; font-size: 8pt; font-weight: bold;">Proxy Summary</div>
                    </div>
                  </td>
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          </div>
          <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">CORPORATE GOVERNANCE HIGHLIGHTS</div>
          <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our corporate governance framework reinforces our goal of building long-term value for shareholders.</div>
        </div>
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                <td style="width: 18.9%; vertical-align: top; border-top: 2px solid rgb(41, 98, 174);">
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Board</div>
                  <font style="font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Independence</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 2px solid rgb(41, 98, 174);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160;&#160; The Board has determined that all of our directors and nominees (other than the members of our Office of the President) are independent under our
                      independence standards and the New York Stock Exchange listing standards.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Wingdings 2',serif; font-size: 10pt; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Members of
                      our Office of the President are our only management directors.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Wingdings 2',serif; font-size: 10pt; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Independent
                      directors regularly hold executive sessions at Board meetings, which are chaired by our lead director.</font></div>
                </td>
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                <td style="width: 18.9%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Accountability</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">to Shareholders</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>All of our directors are elected annually.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our directors are elected by a majority voting standard in uncontested elections.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Shareholders are invited to submit questions to our Chief Executive Officer and Chief Financial Officer on our quarterly earnings calls.</font></div>
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                <td style="width: 18.9%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Board</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Composition</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">and Evaluation</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our Board consists of directors with a diverse mix of skills, experience and backgrounds.</div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font> &#160; Our Board and Board committees undertake robust annual self-evaluations.</font></div>
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                <td style="width: 18.9%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Board</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Committees</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>We have four Board committees &#8212; Audit, Compensation, Nominating and Governance, and Executive.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Each of our Audit, Compensation and Nominating and Governance Committees is composed entirely of independent directors.</font></div>
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                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Leadership</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Structure</div>
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                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; We have a separate Chief Executive Officer and Co-Chairmen of the Board.</div>
                  <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our lead director is fully independent and empowered with broadly defined authorities and responsibilities. Our lead director is also Chairman of our Nominating and Governance
                    Committee, which is responsible for developing our corporate governance principles.</div>
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                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Risk Oversight</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our Board is responsible for risk oversight. It regularly reviews enterprise risk management and related policies, processes and controls, and oversees
                      management in its assessment and mitigation of risk.</font></div>
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                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Director and</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Officer Stock</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Ownership</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; Our independent directors are required to own shares of our stock having a value of at least three times their annual cash retainer.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our executive officers and directors as a group own a substantial percentage of our outstanding common stock.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; </font>&#160; We only have a single class of common stock, which directly aligns the interests of our executive officers and directors with those of our other
                      shareholders.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>We have an anti-hedging and pledging policy for directors and executive officers.</font></div>
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                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Compensation</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Governance</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font> &#160; Our fully independent Compensation Committee oversees all aspects of our executive compensation program.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>We have an annual shareholder advisory vote to approve named executive officer compensation.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> &#160; We have a clawback policy that allows for the recoupment of incentive compensation.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">We do not maintain employment agreements or agreements to pay severance upon a change
                      in control with any of our executive officers.</font></div>
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>We structure a large majority of our executive officers&#8217; compensation to be performance based.</font></div>
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                <td style="width: 18.9%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Ethics and</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Corporate</div>
                  <font style="font-weight: bold; font-size: 10pt;"> </font>
                  <div style="color: rgb(41, 98, 174); font-size: 10pt; font-weight: bold;">Responsibilities</div>
                </td>
                <td style="width: 81.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="margin-bottom: 3pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160; </font>Our Code of Business Conduct and Ethics is disclosed on our website.</font></div>
                  <div style="margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font>We have an active and robust ethics and compliance program, which includes regular employee training.</div>
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      <div>&#160;</div>
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              <td style="width: 50%; font-weight: bold; font-size: 8pt;">4<br>
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                <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;"><a name="ProposalNo.1:"><!--Anchor--></a></div>
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                      <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proposal No. 1: Election of Directors</div>
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      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">Proposal No. 1:</div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Election of Directors</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">At the Annual Meeting, shareholders will vote to elect a Board of twelve directors to serve until the next annual meeting of shareholders and until their respective
        successors are duly elected and qualified. It is the intention of the persons named in the accompanying form of proxy, unless you specify otherwise, to vote for the election of the nominees named below, each of whom is a current director. Our Board
        has no reason to believe that any of the persons named will be unable or unwilling to serve as a director and each has agreed to be nominated in this Proxy Statement.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">If any nominee is unable or unwilling to serve, we anticipate that either:</div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">proxies will be voted for the election of a substitute nominee or nominees recommended by our Nominating and Governance Committee and approved by our Board; or</div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">our Board will adopt a resolution reducing the number of directors constituting our full Board.</div>
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      <div style="margin: 15pt 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorNominatingProcess"><!--Anchor--></a>Director Nominating Process</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In evaluating potential director nominees for recommendation to our Board, our Nominating and Governance Committee seeks individuals with exceptional talent and ability
        and experience from a wide variety of backgrounds to provide a diverse spectrum of experience and expertise relevant to a diversified business enterprise such as ours.</div>
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              <td style="background-color: rgb(237, 237, 237); width: 1.04%;" colspan="1">&#160;</td>
              <td style="background-color: rgb(237, 237, 237); width: 48.96%; text-align: left; vertical-align: top;">
                <div style="margin: 8pt 0px 5pt; color: rgb(41, 98, 174); font-size: 10pt;">In identifying, evaluating and nominating individuals to serve as directors, our Board and its Nominating and Governance Committee do not rely on any preconceived
                  diversity guidelines or rules. Rather, our Board and its Nominating and Governance Committee believe that Loews is best served by directors with a wide range of perspectives, professional experiences, skills and other individual qualities
                  and attributes.</div>
              </td>
              <td style="width: 1.04%;" colspan="1">&#160;</td>
              <td style="width: 48.96%;">
                <div style="text-align: left; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Although we have no minimum qualifications, a candidate should represent the interests of all shareholders, and not those of a special
                  interest group, have a reputation for integrity and be willing to make a significant commitment to fulfilling the duties of a director.</div>
                <div style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">Our Nominating and Governance Committee will screen and evaluate all recommended director nominees (including those validly proposed by shareholders) based on
                  these criteria, as well as other relevant considerations. Further information regarding the</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <div>
          <div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">process for a shareholder to recommend a director nominee can be found below under &#8220;Submissions of Nominations or Other Proposals for Our 2021 Annual Meeting&#8221; on p. 59. Our
              Nominating and Governance Committee will retain full discretion in considering its nomination recommendations to our Board.
              <div> <br>
              </div>
              <div>
                <div>
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 50%; font-weight: bold; font-size: 7pt;">
                          <div style="text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                        </td>
                        <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">5<br>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
        <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
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            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
        </div>
        <div>
          <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorIndependence"><!--Anchor--></a></div>
          <div style="color: rgb(0, 0, 0);">
            <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                <tr>
                  <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div>
                      <div>
                        <div>
                          <div style="text-align: left; font-size: 8pt; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                        </div>
                      </div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="color: rgb(0, 0, 0);"> <br>
          </div>
          <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Director Independence</div>
          <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board has determined that the following directors, constituting a majority of our directors, are independent under our independence standards and the listing
            standards of the New York Stock Exchange: Ann E. Berman, Joseph L. Bower, Charles D. Davidson, Charles M. Diker, Paul J. Fribourg, Walter L. Harris, Philip A. Laskawy, Susan P. Peters and Anthony Welters. We refer to these directors in this
            Proxy Statement as our &#8220;independent directors.&#8221; Our Board considered all relevant facts and circumstances and applied the independence standards described below, which are consistent with New York Stock Exchange listing standards, in
            determining that none of our independent directors has any material relationship with us or our subsidiaries.</div>
          <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board has established the following standards to determine director independence.</div>
          <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">A director would not be considered independent if any of the following relationships exists:</div>
          <div style="margin-bottom: 4pt;">
            <div>
              <table cellspacing="0" cellpadding="0" id="ze326e04267e948f58c4cafd8872f0f53" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">during the past three years the director has been an employee, or an immediate family member has been an executive officer, of Loews;</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="margin-bottom: 4pt;">
            <div>
              <table cellspacing="0" cellpadding="0" id="z54c4dfc9c139461aa97a82186f44a0e5" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">the director or an immediate family member received, during any twelve-month period within the past three years, more than $120,000 in direct compensation from Loews,
                        excluding director and committee fees, pension payments and certain forms of deferred compensation;</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="margin-bottom: 4pt;">
            <div>
              <table cellspacing="0" cellpadding="0" id="ze54142071df6482294f35a7d1b12613e" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">the director is a current partner or employee or an immediate family member is a current partner of a firm that is Loews&#8217;s internal or external auditor, an immediate family
                        member is a current employee of such a firm and personally works on the company&#8217;s audit or, within the last three years, the director or an immediate family member was a partner or employee of such a firm and personally worked on
                        Loews&#8217;s audit within that time;</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="margin-bottom: 4pt;">
            <div>
              <table cellspacing="0" cellpadding="0" id="z3badb47a85df491ab01a25282f291439" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">the director or an immediate family member has at any time during the past three years been employed as an executive officer of another company where any of Loews&#8217;s present
                        executive officers at the same time serves or served on that company&#8217;s compensation committee; or</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="margin-bottom: 8pt;">
            <div>
              <table cellspacing="0" cellpadding="0" id="z2b4fc09405ab4247840e29bf9a2e599c" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 9.35pt; vertical-align: top; align: right; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font> </td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="font-family: 'Times New Roman'; font-size: 10pt;">the director is a current employee, or an immediate family member is a current executive officer, of a company that has made payments to, or received payments from, Loews
                        for property or services in an amount which, in any of the last three years, exceeded the greater of $1 million or 2% of the other company&#8217;s consolidated gross revenues.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="font-family: 'Times New Roman'; font-size: 10pt;">In considering Mr. Harris&#8217;s independence, the Board noted that he has a majority ownership interest in certain insurance brokerage firms which, from time to time, receive brokerage
            commissions from insurance company subsidiaries of our subsidiary, CNA Financial Corporation. Mr. Harris may not participate and has not participated in the Audit Committee&#8217;s consideration of these transactions. All business placed with CNA by
            such insurance brokerage firms was pursuant to written agreements on CNA&#8217;s standard forms, is typical of the products offered by CNA to its brokers and commissions were paid in accordance with a schedule that is standard to CNA brokerage
            contracts of this type. Mr. Harris does not participate in placements of business with CNA. Mr. Harris has informed Loews that these commissions were less than the greater of $1 million or 2% of the consolidated gross revenues of such firms
            during each of the last three years. In 2019, commissions totaled approximately $31,000.</div>
          <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
          </div>
          <div style="font-family: 'Times New Roman'; font-size: 10pt;">
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">6<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
        <div>
          <div> </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorNominees"><!--Anchor--></a></div>
        <div style="color: rgb(0, 0, 0);">
          <div style="color: rgb(0, 0, 0);">
            <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                <tr>
                  <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div>
                      <div>
                        <div>
                          <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                            <div>
                              <div style="text-align: right; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
        </div>
        <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Director Nominees</div>
        <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Information about each nominee for director and the nominee&#8217;s age, principal occupation during the past five years and individual qualifications and attributes are
          set forth below. Unless otherwise noted in this Proxy Statement, no entity related to a nominee is affiliated with Loews.</div>
        <table cellspacing="0" cellpadding="2" border="0" id="zb6939445bc6942fd89670d55e65a0d23" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
              <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
                <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Ann E. Berman</div>
              </td>
              <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
              <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
                <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
                <div style="margin-bottom: 8pt; font-weight: bold;">67</div>
                <div><font style="color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                  <div style="font-weight: bold;">2006</div>
                  <br>
                </div>
                <div style="margin-bottom: 8pt;">&#160;</div>
                <div>&#160;</div>
              </td>
              <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
                <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Retired advisor to the President of Harvard University. Ms. Berman is also a director of Eaton Vance Corporation and Cantel Medical Corp.</div>
                <div style="margin: 6pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Ms.















                  Berman&#8217;s experience, including having served as Vice President of Finance and Chief Financial Officer of Harvard University, has provided her with a deep knowledge of the complex financial issues faced by large institutions such as Loews.
                  In addition, her past service on the board of the Harvard Management Company, which oversees the management of Harvard&#8217;s endowment, gives her extensive experience in dealing with large and diverse investment portfolios such as those
                  maintained by Loews and its subsidiaries. This knowledge and experience are valuable to our Board and qualifies her to serve as one of the two financial experts on our Board&#8217;s Audit Committee.</div>
              </td>
              <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            </tr>

        </table>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z7735db9dbf4844cf8dad1e6f31d6f181" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
              <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
                <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Joseph L. Bower</div>
              </td>
              <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
              <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
                <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
                <div style="margin-bottom: 8pt; font-weight: bold;">81</div>
                <div style="font-size: 7.5pt;"><font style="color: rgb(41, 98, 174); font-weight: bold; font-size: 9pt;">DIRECTOR SINCE:</font>
                  <div style="font-weight: bold;"><font style="font-size: 9pt;">2001</font></div>
                  <br>
                </div>
                <div style="margin-bottom: 8pt;">&#160;</div>
                <div>&#160;</div>
              </td>
              <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
                <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">A faculty member of Harvard Business School since 1963, Professor Bower has been the Donald K. David Professor Emeritus of Business Administration since 2014.
                  Professor Bower is also a director of Anika Therapeutics, Inc. and New America High Income Fund, Inc.</div>
                <div style="margin: 6pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Professor





















                  Bower served as a Professor of Business Administration for over 55 years. For many years his scholarship has had a particular emphasis on corporate management, organization and leadership. His study and knowledge in this area serve to
                  enhance our Board&#8217;s ability to fulfill its oversight responsibility with respect to Loews&#8217;s management.</div>
              </td>
              <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="margin-bottom: 8pt;"><br>
        </div>
        <div style="margin-bottom: 8pt;">
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">7<br>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="margin-bottom: 8pt;">
          <div>
            <div> </div>
          </div>
        </div>
        <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
          <div style="page-break-after: always;" id="DSPFPageBreak">
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          <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
        </div>
        <div>
          <div>
            <div style="color: rgb(0, 0, 0);">
              <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

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                    <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                      <div>
                        <div>
                          <div>
                            <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                              <div>
                                <div style="text-align: right; font-weight: bold;">
                                  <div>
                                    <div style="text-align: left; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="zd20a16f259e94b2185438277670ef3f3" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

              <tr>
                <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
                  <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Charles D. Davidson</div>
                </td>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
                <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 5pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
                  <div style="margin-bottom: 8pt; font-weight: bold;">70</div>
                  <div style="font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font><font style="font-size: 9pt; font-weight: bold;"></font></div>
                  <div style="margin-bottom: 8pt;">&#160;<font style="font-weight: bold;">2015</font></div>
                  <div>&#160;</div>
                </td>
                <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 5pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Venture Partner at Quantum Energy Partners, a private equity fund specializing in investments in energy businesses, since 2015. Mr. Davidson served as
                    Chief Executive Officer of Noble Energy Inc., an independent producer of oil and natural gas, from 2000 through 2014, and was Chairman of the Board of Noble until his retirement in 2015. Mr. Davidson was also a director, from 2016, and
                    Chairman of the Board, from 2018, of Jagged Peak Energy, Inc. until 2020.</div>
                  <div style="margin: 6pt 0px 5pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Mr. Davidson has worked in the oil and gas industry for over 45 years, including as Chief Executive Officer of Noble. His extensive experience with oil and gas operations, as well as management of a large, complex,
                    multinational organization, give him knowledge and insights that are valuable to our Board, particularly in overseeing the business of our energy industry subsidiaries, Diamond Offshore Drilling Inc. and Boardwalk Pipelines.</div>
                </td>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
              </tr>

          </table>
          <div> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="z040f68dbb00d46969bcf5c70dc306868" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

              <tr>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
                  <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Charles M. Diker</div>
                </td>
                <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
                <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 5pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
                  <div style="margin-bottom: 8pt; font-weight: bold;">85</div>
                  <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font><font style="font-size: 9pt; font-weight: bold;"> </font>
                    <div style="font-weight: bold;"><font style="font-size: 9pt;">2003</font></div>
                    <br>
                  </div>
                  <div style="margin-bottom: 8pt;">&#160;</div>
                </td>
                <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 5pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Managing Partner of Diker Management LLC, a registered investment adviser. Mr. Diker is also Chairman of the Board of Cantel Medical Corp.</div>
                  <div style="margin-top: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Mr.














                    Diker has had wide-ranging experience in the investment advisory field, as well as in the management or on the boards of several operating businesses. This combination of experiences as an investment professional and a key executive at
                    operating companies is a valuable attribute Mr. Diker brings to our Board, particularly in light of Loews&#8217;s varied investment and business interests.</div>
                </td>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
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          <div> <br>
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          <table cellspacing="0" cellpadding="0" id="z31dbfdefa5684bf2ac3c95daa34b80e8" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

              <tr>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
                <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
                  <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Paul J. Fribourg</div>
                </td>
                <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
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              <tr>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
                <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 5pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
                  <div style="margin-bottom: 8pt; font-weight: bold;">66</div>
                  <div style="margin-bottom: 8pt;"><font style="color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font><font style="font-weight: bold;"> </font>
                    <div style="font-weight: bold;">1997</div>
                  </div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Lead Director</div>
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                  <div style="margin: 5pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Chairman of the Board and Chief Executive Officer of Continental Grain Company, an international agribusiness and investment company. Mr. Fribourg is also
                    a director of Estee Lauder Companies, Inc., Restaurant Brands International, Inc., and Bunge Limited. He was a director of Apollo Global Management, LLC from 2011 to 2018.</div>
                  <div style="margin-top: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Mr.















                    Fribourg has had extensive and practical hands-on experience as the Chief Executive Officer of Continental Grain Company, a major industrial company with broad international operations. This background gives Mr. Fribourg particular
                    insight into many of the business decisions that come before our Board.</div>
                </td>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
              </tr>

          </table>
          <div> <br>
          </div>
        </div>
      </div>
      <div>
        <div style="font-family: 'Times New Roman'; font-size: 10pt;">
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">8<br>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                      <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

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            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
    </div>
    <div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1541f65498484a129c0ba2212255b0ea" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Walter L. Harris</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 5pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">68</div>
              <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">2004</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
              <div>&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 5pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">From 2014 until 2019, President and Chief Executive Officer of FOJP Service Corporation, a provider of risk management services to hospitals, long-term care
                facilities and social service agencies in New York City, and Hospitals Insurance Company, a provider of insurance coverages and services to hospitals, long-term care facilities, physicians and healthcare professionals in New York State. Mr.
                Harris is also Chairman of the Board of Directors of Watford Holdings Ltd.</div>
              <div style="margin-top: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt;">&#160;</font>Mr. Harris
                has extensive experience and knowledge regarding the commercial insurance industry, which is particularly valuable to our Board in light of Loews&#8217;s significant interest in the insurance industry as represented by one of our principal
                subsidiaries, CNA.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb7f5ca383d314f369b68593872d47206" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Philip A. Laskawy</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">78</div>
              <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font><font style="font-weight: bold; font-size: 9pt;"> </font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">2003</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Retired Chairman and Chief Executive Officer of Ernst &amp; Young LLP, an international accounting firm. Mr. Laskawy is also a director of Henry Schein, Inc.,
                Covetrus, Inc. and Lazard Ltd.</div>
              <div style="margin-top: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt;">&#160;</font>Mr. Laskawy
                brings to our Board extensive knowledge of and skills in financial and accounting matters, having served as Chairman and Chief Executive Officer of one of the largest public accounting firms in the United States. This qualifies him to serve
                as one of the two financial experts on our Board&#8217;s Audit Committee. Mr. Laskawy&#8217;s knowledge and skills are especially valuable to our Board in understanding and dealing with complex financial and accounting issues.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zba4d987935ad41e5ac7f7a5b52420d81" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Susan P. Peters</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">66</div>
              <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">2018</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Retired Senior Vice President of Human Resources of General Electric Company, a global industrial company, a position which she held from 2013 until 2017.</div>
              <div style="margin-top: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 9pt; font-weight: bold;">&#160;</font>Ms.














                Peters&#8217; experience during her 38-year career at General Electric, in which she held positions of increasing responsibility and which culminated in her serving as the chief human resources officer and a member of the senior leadership team,
                has provided her with deep domain expertise in talent management, operational optimization, executive compensation and leadership development at the highest level that serve our Board extremely well.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
          </tr>

      </table>
    </div>
    <div>
      <div style="margin-bottom: 8pt;">
        <div>
          <div>
            <div> <br>
            </div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                <tr>
                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                    <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                  </td>
                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">9<br>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
    </div>
    <div>
      <div>
        <div style="color: rgb(0, 0, 0);">
          <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                  <div>
                    <div>
                      <div>
                        <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                          <div>
                            <div style="text-align: right; font-weight: bold;">
                              <div>
                                <div style="text-align: left; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </td>
              </tr>

          </table>
        </div>
        <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z580ce04ea4d14a06b15f66351b33c9e3" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">70</div>
              <div style="font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">1985</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
              <div>&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Co-Chairman of the Board, Chairman of the Executive Committee and a member of the Office of the President of Loews. Mr. Tisch is also a director of our
                subsidiaries, CNA, Diamond Offshore and the general partner of Boardwalk Pipelines. He was also a director of K12 Inc. from 2001 to 2017.</div>
              <div style="margin: 6pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt;">&#160;</font>Mr. Tisch
                has served as a member of Loews&#8217;s Office of the President since 1999 and, prior to that time, had served the company in a number of other executive positions. This experience has provided him with broad knowledge of and insight into Loews
                and its operations and businesses and has enabled him to be instrumental in providing our company with strategic direction and operational oversight. Our Board and its Nominating and Governance Committee believe that his direct experience
                in managing Loews&#8217;s business, as well as his institutional knowledge, is of critical importance to our Board in fulfilling its responsibilities.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1b50d62f2a8c4f49b56310b71a4ef7d5" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 5pt 0px 0px; color: rgb(41, 98, 174); font-size: 7.5pt; font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">67</div>
              <div style="font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">1986</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
              <div>&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 5pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">President and Chief Executive Officer and a member of the Office of the President of Loews. Mr. Tisch is also a director of General Electric Company, and our
                subsidiary, CNA, and Chairman of the Board of our subsidiary, Diamond Offshore.</div>
              <div style="margin: 6pt 0px 5pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt; color: #2962AE;">&#160;</font>Mr.














                Tisch has served as a member of Loews&#8217;s Office of the President since 1999 and, prior to that time, had served the company in a number of other executive positions, giving him extensive knowledge of Loews, its operations and the businesses
                in which it is engaged, and enabling&#160; him to be instrumental in. providing our company with both strategic direction and day-to-day operational oversight. Our Board and its Nominating and Governance Committee believe that his direct
                experience in managing Loews&#8217;s business, as well as his institutional knowledge, is of critical importance to our Board in fulfilling its responsibilities.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
          </tr>

      </table>
      <div> <br>
      </div>
    </div>
    <div>
      <div>
        <div style="font-family: 'Times New Roman'; font-size: 10pt;">
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">10<br>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                      <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
    </div>
    <div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proposal No. 1: Election of Directors</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z721fed368e57445eb07c9415a25a211c" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="1">&#160;</td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">66</div>
              <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">1986</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
              <div>&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Co-Chairman of the Board and a member of the Office of the President of Loews, and Chairman and, since 2016, Chief Executive Officer of our subsidiary, Loews
                Hotels.</div>
              <div style="margin: 6pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt;">&#160;</font>Mr. Tisch
                has served as a member of Loews&#8217;s Office of the President since 1999 and, prior to that time, had served the company in a number of other executive positions. This experience has provided him with broad knowledge of and insight into Loews
                and its operations and businesses and has enabled him to be instrumental in providing our company with strategic direction and operational oversight. Our Board and its Nominating and Governance Committee believe that his direct experience
                in managing the Loews Hotels business, as well as his institutional knowledge, is of critical importance to our Board in fulfilling its responsibilities.</div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
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            <td style="vertical-align: middle; background-color: rgb(41, 98, 174);" colspan="2">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">Anthony Welters</div>
            </td>
            <td style="vertical-align: middle; background-color: rgb(41, 98, 174); width: 1%;" colspan="1">&#160;</td>
          </tr>
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            <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
            <td style="width: 20%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 0px; color: rgb(41, 98, 174); font-weight: bold;">AGE:</div>
              <div style="margin-bottom: 8pt; font-weight: bold;">65</div>
              <div style="margin-bottom: 8pt; font-size: 10pt;"><font style="font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">DIRECTOR SINCE:</font><font style="font-weight: bold; font-size: 9pt;"> </font>
                <div style="font-weight: bold;"><font style="font-size: 9pt;">2013</font></div>
                <br>
              </div>
              <div style="margin-bottom: 8pt;">&#160;</div>
              <div>&#160;</div>
            </td>
            <td style="width: 78%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;">Executive Chairman of Black Ivy Group, LLC, a values-driven investment company that builds and grows commercial enterprises in Sub-Saharan Africa, since 2013. Mr.
                Welters served as Senior Advisor to the Office of the Chief Executive Officer of UnitedHealth Group Incorporated from 2014 until his retirement in 2016. He is also an attorney. Mr. Welters is also a director of the Carlyle Group and was a
                director of West Pharmaceutical Services, Inc. from 1997 until 2016 and of C.R. Bard, Inc. from 1999 to 2017.</div>
              <div style="margin: 6pt 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">EXPERIENCE:</font><font style="font-size: 7pt;">&#160;</font>Mr.
                Welters&#8217; experience as a senior executive at a large, complex health insurance company, as well as his service as a director of several public companies and his work with numerous educational and philanthropic organizations, give him a
                range of knowledge and skills that are extremely valuable to our Board.</div>
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      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">FAMILY RELATIONSHIPS.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman'; font-size: 10pt;">James S. Tisch and Andrew H. Tisch are brothers. Jonathan M. Tisch is the cousin of James S. Tisch and Andrew H. Tisch.</div>
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              <div style="color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 14pt;">Our Board recommends a vote <font style="font-family: Arial; font-size: 12pt; font-weight: bold;">FOR</font> each of the nominees listed above to be
                elected as a director of our Company.</div>
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              <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
            </td>
            <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">11<br>
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="BoardGovernanceInformatio"><!--Anchor--></a></div>
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                                    <div style="font-weight: bold;">Board Governance Information</div>
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      <div style="color: rgb(0, 0, 0); font-weight: 400;"> <br>
      </div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Board Governance Information</div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"> <br>
      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CorporateGovernance"><!--Anchor--></a>Corporate Governance</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Effective corporate governance reinforces our goal of building long-term value for shareholders. Our governance principles are detailed in our Corporate Governance
        Guidelines, which are reviewed annually and updated as needed, including in response to evolving best practices and regulatory requirements. We also have a Code of Business Conduct and Ethics which applies to all of our directors, officers and
        employees, including our principal executive officer, principal financial officer and principal accounting officer.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">For more information on our governance practices and policies, please see &#8220;Corporate Governance Highlights&#8221; on p. 4 in the Proxy Summary section.</div>
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              <td colspan="1" rowspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
              <td colspan="2" rowspan="1" style="vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
              <td colspan="1" rowspan="1" style="vertical-align: top; background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
            </tr>
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              <td colspan="1" rowspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
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                <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">GOVERNANCE DOCUMENTS</div>
                <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following governance documents are available on our website in the &#8220;Investors/Media&#8221; section under &#8220;Governance&#8221; at<font style="font-style: italic;">
                    www.loews.com</font> and are available in print to any shareholder who requests a copy by writing to our Corporate Secretary:</div>
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                <div style="margin-bottom: 4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; </font>Corporate Governance Guidelines<font style="font-family: 'Wingdings 2',serif; color: rgb(41, 98, 174);"><br>
                    </font></font></div>
              </td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; </font>Compensation Committee Charter</font></td>
              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
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                <div style="margin-bottom: 4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; </font>Code of Business Conduct and Ethics<font style="font-size: 5.04pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
                    </font></font></div>
              </td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160; Nominating and Governance Committee Charter</font></td>
              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
            </tr>
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                <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; </font>Audit
                  Committee Charter</div>
              </td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
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              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
              <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" rowspan="1">&#160;</td>
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      <div style="margin: 15pt 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="BoardLeadershipStructure"><!--Anchor--></a>Board Leadership Structure</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board&#8217;s current leadership structure consists of two Co-Chairmen of the Board, Andrew H. Tisch and Jonathan M. Tisch, both of whom are members of the Office of the
        President, and a lead director, presently Paul J. Fribourg, who is also Chairman of our Board&#8217;s Nominating and Governance Committee. Loews&#8217;s Chief Executive Officer and third member of its Office of the President, James S. Tisch, does not currently
        serve in a formal leadership capacity on our Board.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board believes that this structure provides input, guidance and leadership for the Board from both senior management, as represented by the Co-Chairmen of the
        Board, and the non-management directors, as represented by the lead director, which assists the Board in effectively fulfilling its oversight role. Our Board also believes that the current exclusion of Loews&#8217;s Chief Executive Officer from its
        leadership structure helps to achieve an appropriate balance between the differing perspectives of management and non-management directors during the course of its proceedings.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The lead director plays an important role in our Board&#8217;s leadership structure. Non-management directors meet in executive session after each regular meeting of our
        Board. The lead director chairs these meetings of non-management directors. Our lead director also currently serves as Chairman of the Nominating and Governance Committee, the principal Board committee charged with responsibility for the Board&#8217;s
        leadership structure. In this dual role, the lead director facilitates the ability of non-management directors to fulfill their responsibilities and provides a structure for communicating any concerns that non-management directors may have directly
        to Loews&#8217;s senior management. </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">12<br>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                      <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
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      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
    </div>
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      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="BoardCommittees"><!--Anchor--></a></div>
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Board Governance Information</div>
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      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Board Committees</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board has a standing Audit Committee, Compensation Committee, Nominating and Governance Committee and Executive Committee.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows the current members and chairs of each of our Audit, Compensation and Nominating and Governance Committees and their primary responsibilities.</div>
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            <td colspan="1" style="width: 0.96%; vertical-align: middle; background-color: rgb(41, 98, 174);">&#160;</td>
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              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">AUDIT</div>
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              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">CHAIR:</font> Walter Harris</div>
              <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">OTHER MEMBERS:</div>
              <div><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ann E. Berman</font><font style="text-indent: 0px; font-size: 5.11pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; &#160; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Joseph L. Bower</font></div>
              <div><font style="font-family: 'Times New Roman'; font-size: 10pt;">Charles M. Diker</font><font style="text-indent: 0px; font-size: 5.11pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Paul J. Fribourg</font></div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Philip A. Laskawy</div>
              <div style="margin-bottom: 3pt; font-size: 7.5pt;"><font style="color: #2962AE;"><font style="font-weight: bold; font-size: 8pt;">2019 MEETINGS HELD:</font> </font><font style="color: rgb(0, 0, 0); font-weight: bold;">7</font></div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Each of the members is an independent director and satisfies the additional independence and other requirements for Audit Committee members provided for in the
                listing standards of the New York Stock Exchange and the rules of the Securities and Exchange Commission.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Additionally, Ms. Berman and Mr. Laskawy have been designated as &#8220;audit committee financial experts&#8221; under the rules of the Securities and Exchange Commission.</div>
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              <div style="margin: 8pt 0px 3pt; color: rgb(41, 98, 174); font-size: 7.5pt; font-weight: bold;">PRIMARY ROLE</div>
              <div style="margin-bottom: 6pt; font-family: 'Times New Roman'; font-size: 10pt;">The Audit Committee assists our Board in fulfilling its responsibility to oversee:</div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160; the integrity of our financial statements;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160; our compliance with legal and regulatory requirements;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">the qualifications and independence of our independent auditors;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">the performance of our internal audit function and independent auditors;<font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;"></font></font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">our systems of disclosure controls and procedures and internal controls over financial
                  reporting; and</font></div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
                <div style="text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font>compliance
                  with ethical standards adopted by Loews.</div>
                <div><br>
                </div>
                <div style="margin: 0px 0px 8pt;">Our Audit Committee has sole authority to appoint, retain, compensate, evaluate and terminate our independent auditors and to approve all engagement fees and terms for our independent auditors.</div>
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            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
          </tr>

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      <div style="margin-bottom: 3pt;"><br>
      </div>
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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);">&#160;</td>
            <td style="width: 99%; vertical-align: middle; background-color: rgb(41, 98, 174);">
              <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">COMPENSATION</div>
            </td>
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          <tr>
            <td colspan="1" style="width: 0.96%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 48%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">CHAIR:</font> Joseph L. Bower</div>
              <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">OTHER MEMBERS:</div>
              <div><font style="font-family: 'Times New Roman'; font-size: 10pt;">Charles D. Davidson</font><font style="text-indent: 0px; font-size: 5.14pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Charles M. Diker</font></div>
              <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Paul J. Fribourg</font><font style="text-indent: 0px; font-size: 5.02pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160;&#160; &#160;&#160;&#160;&#160; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Susan P. Peters</font></div>
              <div style="margin-bottom: 3pt; font-size: 7.5pt;"><font style="color: #2962AE;"><font style="font-weight: bold; font-size: 8pt;">2019 MEETINGS HELD:</font> </font><font style="color: rgb(0, 0, 0); font-weight: bold;">3</font></div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Each of the members is an independent director and satisfies the additional independence requirements for Compensation Committee members provided for in the
                listing standards of the New York Stock Exchange and the rules of the Securities and Exchange Commission.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
              </div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
              </div>
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 8pt 0px 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">PRIMARY ROLE</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; The Compensation Committee assists our Board in discharging its responsibilities relating to compensation of our executive officers. These responsibilities include:</div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726; &#160;&#160; </font>reviewing our general compensation philosophy for executive officers;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Wingdings 2',serif; font-size: 10pt; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></font> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">overseeing the
                  development and implementation of executive compensation programs; and</font></div>
              <div style="margin-bottom: 8pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;&#160;&#160; </font>reviewing compensation levels, including incentive and equity-based compensation, for executive officers, directors and Board committee members.</font></div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="background-color: rgb(237, 237, 237); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#160;</font>Our Compensation Committee determines and approves compensation for our executive officers and administers our incentive and equity-based compensation plans.</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
          </tr>

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      <div style="margin-bottom: 8pt;">
        <div style="color: rgb(0, 0, 0);"> <br>
          <div>
            <div>
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                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">13<br>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
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          <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
        </div>
        <div style="color: rgb(0, 0, 0);">
          <div>
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                    <div>
                      <div style="text-align: left; font-size: 8pt; font-weight: bold;">Board Governance Information</div>
                    </div>
                  </td>
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            <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="zb05caad8e65f4a4cb75871153ffe4bb5" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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                  <div style="margin: 3pt 0px; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">NOMINATING AND GOVERNANCE COMMITTEE</div>
                </td>
              </tr>

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              <tr>
                <td style="width: 0.96%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
                <td style="width: 48%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 8pt 0px; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8pt; color: rgb(41, 98, 174); font-weight: bold;">CHAIR:</font> Paul J. Fribourg</div>
                  <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">OTHER MEMBERS:</div>
                  <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Joseph L. Bower</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 5.14pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Anthony Welters</font></div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Walter L. Harris</div>
                  <div style="margin-bottom: 3pt; font-size: 7.5pt;"><font style="color: #2962AE;"><font style="font-weight: bold; font-size: 8pt;">2019 MEETINGS HELD:</font> </font><font style="color: rgb(0, 0, 0); font-weight: bold; font-size: 8pt;">2</font></div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Each of the members is an independent director.</div>
                </td>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
                <td style="width: 49%; vertical-align: top; background-color: rgb(237, 237, 237);">
                  <div style="margin: 8pt 0px 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">PRIMARY ROLE</div>
                  <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The Nominating and Governance Committee identifies individuals qualified to become members of our Board and recommends to our Board a slate of director
                    nominees for election at our annual meetings of shareholders. It also recommends directors for membership on our Board committees.</div>
                  <div style="margin: 0px 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The Nominating and Governance Committee also develops and recommends to our Board a set of corporate governance principles, which are detailed in our
                    Corporate Governance Guidelines.</div>
                </td>
                <td style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);" colspan="1">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="margin: 5pt 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="ExecutiveSessionsofNon-Ma"><!--Anchor--></a>Executive Sessions of Non-Management Directors</div>
        <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our non-management directors meet in regular executive sessions without management participation. Paul J. Fribourg, who serves as our lead director, presides at these
          meetings. </div>
        <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorAttendanceatMeeti"><!--Anchor--></a>Director Attendance at Meetings</div>
        <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">During 2019, there were five meetings of our Board, seven meetings of our Audit Committee, three meetings of our Compensation Committee and two meetings of our
          Nominating and Governance Committee. During 2019, each of our directors attended at least 75% of the total number of meetings of our Board and committees of our Board on which that director served. Our Board encourages all directors to attend our
          annual meetings of shareholders. All of our directors then serving attended our 2019 annual meeting of shareholders. </div>
        <div> <br>
        </div>
        <div>
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                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">14<br>
                  </td>
                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                    <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
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          <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
        </div>
      </div>
    </div>
    <div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="BoardOversightofRiskManag"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Board Governance Information</div>
                </div>
              </td>
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        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Board Oversight of Risk Management</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board recognizes the importance of understanding, evaluating and, to the extent practicable, managing enterprise risk to the financial health of Loews and its
        business enterprises.</div>
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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(82, 139, 214); text-align: center;">&#160;</td>
            <td style="vertical-align: bottom; background-color: rgb(82, 139, 214); text-align: center; width: 98%;">
              <div style="margin-top: 8pt; margin-bottom: 8pt; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">BOARD</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; background-color: rgb(82, 139, 214); text-align: center; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(82, 139, 214); width: 98%;">
              <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt;">As part of its oversight responsibility, our Board has Loews&#8217;s management provide periodic reports to
                systematically identify the principal risks facing the company and its subsidiaries, identify and evaluate policies and practices that promote a culture that actively balances risk and reward, and evaluate risk management practices. These
                reports enable non-management directors to conduct meaningful and substantive discussions concerning these issues with senior management through the conduit of the lead director and during full Board deliberations.</div>
            </td>
            <td colspan="1" style="vertical-align: top; background-color: rgb(82, 139, 214); width: 1%;">&#160;</td>
          </tr>

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      <div style="margin-top: 2pt; margin-bottom: 0px; text-align: center;"><img src="image00009.jpg"> </div>
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            <td style="background-color: rgb(201, 201, 201); border-right: 1px solid rgb(255, 255, 255); vertical-align: middle; width: 33.33%;">
              <div style="margin-top: 8pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 10pt; text-align: center; font-weight: bold;">OFFICE OF</div>
              <font style="font-weight: bold;"> </font>
              <div style="text-align: center; margin-bottom: 8pt; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">PRESIDENT</div>
            </td>
            <td style="background-color: rgb(201, 201, 201); border-left: 1px solid rgb(255, 255, 255); border-right: 1px solid rgb(255, 255, 255); vertical-align: middle; width: 34%;">
              <div style="margin-top: 8pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 10pt; text-align: center; font-weight: bold;">LEAD INDEPENDENT</div>
              <font style="font-weight: bold;"> </font>
              <div style="text-align: center; margin-bottom: 8pt; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">DIRECTOR</div>
            </td>
            <td style="background-color: rgb(201, 201, 201); border-left: 1px solid rgb(255, 255, 255); vertical-align: middle; width: 33.33%;">
              <div style="text-align: center; margin-bottom: 8pt; color: rgb(255, 255, 255); font-size: 10pt; font-weight: bold;">AUDIT COMMITTEE</div>
            </td>
          </tr>

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      <div style="text-align: center;"><img src="image00010.jpg"> </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td colspan="1" style="vertical-align: top; background-color: rgb(127, 127, 127); width: 1%;">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 8pt; margin-bottom: 8pt; color: rgb(255, 255, 255); font-size: 10pt; text-align: center; font-weight: bold;">MANAGEMENT</div>
            </td>
          </tr>

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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 35%; vertical-align: top; background-color: rgb(127, 127, 127);">
              <div style="color: rgb(255, 255, 255); font-weight: bold;">RISK COUNCIL</div>
              <div style="color: rgb(255, 255, 255);">Chair: <font style="font-weight: bold;">Chief Financial Officer</font></div>
              <div style="color: rgb(255, 255, 255);">Other Members: <font style="font-weight: bold;">Representatives of</font></div>
              <div style="margin-bottom: 8pt; color: rgb(255, 255, 255);"><font style="font-weight: bold;">Different Functional Areas</font></div>
            </td>
            <td colspan="1" style="background-color: rgb(127, 127, 127); border-left: 1px solid rgb(255, 255, 255); vertical-align: top; width: 1%;">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(127, 127, 127); width: 62%;">
              <div style="margin-bottom: 8pt; color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 10pt;">The Risk Council assists Loews&#8217;s management in reporting appropriate information and analysis regarding enterprise risk management to
                our Board. It reviews Loews&#8217;s enterprise risk management framework, including the strategies, policies, procedures and systems established by Loews management and each of its subsidiaries to identify, assess, measure and manage the material
                risks facing Loews and its subsidiaries, and periodically reports to our Office of the President, Board and Audit Committee.</div>
            </td>
            <td colspan="1" style="vertical-align: top; background-color: rgb(127, 127, 127); width: 1%;">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 15pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="ShareOwnershipGuidelinesf"><!--Anchor--></a>Share Ownership Guidelines for Directors</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">Our Board has adopted minimum share ownership guidelines for directors who are not employees or officers of Loews. Under these guidelines, each non-management director is required to own
        shares having a value (determined as of the time the shares are acquired) of at least three times the annual cash retainer payable to directors (which is currently $100,000 per year). Directors first elected after our 2016 annual meeting of
        shareholders have until the date of the third annual meeting after they were first elected to accumulate the requisite shares. Shares owned by immediate family members or in certain trusts and unissued shares underlying restricted stock units are
        counted toward satisfying the requirement. Our Nominating and Governance Committee, or the committee chair acting by delegated authority, has the authority to grant exceptions to the guidelines for hardship reasons should any arise.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div>
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                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                    <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                  </td>
                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">15<br>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorCompensation"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Board Governance Information</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Director Compensation</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">During 2019, each of our non-management directors received a cash retainer of $25,000 per quarter and, other than Mr. Frenkel, an annual award of restricted stock units
        (&#8220;RSUs&#8221;) having a value of $100,000 at the date of grant under the Loews Corporation 2016 Incentive Compensation Plan (our &#8220;Incentive Compensation Plan&#8221;).</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, members of our Audit Committee each received a cash retainer of $6,250 per quarter, and the committee chair received an additional $10,000 per quarter.
        Members of our Compensation Committee and Nominating and Governance Committee each also received a cash retainer of $2,500 per quarter, and the committee chairs received an additional $5,000 per quarter. Our lead director received an additional
        quarterly retainer of $5,000.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our non-management directors may elect to defer some or all of their cash compensation under our Executive Deferred Compensation Plan, described in &#8220;Deferred
        Compensation,&#8221; below, and some or all of their equity compensation pursuant to our Incentive Compensation Plan.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding the compensation of our non-management directors during the year ended December 31, 2019.</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zb7835428ec0c496ca4f537764fc92d9a">

          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 33%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Fees Earned or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Paid in Cash</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: top; width: 1%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-size: 10pt;">&#160; </font><br>
                </sup></div>
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: top; width: 1%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">&#160;<br>
              </div>
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 20%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Total</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Ann E. Berman</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">125,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">225,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Joseph L. Bower</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">165,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">265,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles D. Davidson</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">110,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">210,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles M. Diker</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">135,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">235,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jacob A. Frenkel<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40,797</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40,797</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Paul J. Fribourg</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">185,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">285,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Walter L. Harris</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">175,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">275,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Philip A. Laskawy</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">125,000</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">225,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Susan P. Peters</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">107,500</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">207,500</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 33%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Anthony Welters</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; font-size: 8.5pt;">110,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; font-size: 8.5pt;">100,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 15%;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%;">
              <div style="text-align: right; font-size: 8.5pt;">210,000</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="ze527224b1e7241a7bcefcc9c8eb2e16f">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent the grant date fair value of RSUs, calculated in accordance with the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) ASC Topic 718. At December 31, 2019, the aggregate number of RSUs
                    outstanding for each non-management director was 1,979.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zcb0e7640902b4dff8f3fde9e41a098bb">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Prior to 2016, our non-management directors were granted stock appreciation rights (&#8220;SARs&#8221;) under the Loews Corporation Stock Option Plan (our &#8220;Stock Option Plan&#8221;). At December 31, 2019, the aggregate number
                    of SAR awards outstanding for each non-management director (or former director) was as follows: Ann E. Berman, 42,000; Joseph L. Bower, 48,000; Charles D. Davidson, 9,000; Charles M. Diker, 48,000; Jacob A. Frenkel, 48,000; Paul J.
                    Fribourg, 48,000; Walter L. Harris, 48,000; Philip A. Laskawy, 48,000; Susan P. Peters, 0; and Anthony Welters, 20,250.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zc31bd4cb6f244204ad1b19da33637ed4">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Mr. Frenkel served as a director until our 2019 annual meeting of shareholders. Amounts included in the table reflect his compensation for his service prior to that meeting.</div>
                </td>
              </tr>

          </table>
          <div> <br>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">16<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="TransactionswithRelatedPe"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" id="z4c426d2bc75740d6aeffa89d3f9c620f" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Board Governance Information</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Transactions with Related Persons</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Audit Committee Charter requires our Audit Committee to review and approve all related party transactions required to be disclosed under Securities and Exchange
        Commission rules. It has been our Audit Committee&#8217;s practice, however, to review and approve or ratify any transaction, regardless of the size or amount, involving us or any of our subsidiaries in which any of our directors, director nominees,
        executive officers, principal shareholders or any of their immediate family members has had or will have a direct or indirect material interest, without the participation of any member who may be involved in the transaction. All related party
        transactions are submitted to our General Counsel for review and reported to our Audit Committee for its consideration. In each case, the Audit Committee considers, in light of all of the facts and circumstances it deems relevant, whether the
        transaction is fair and reasonable to us.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Audit Committee reviewed and approved or ratified each of the following 2019 related party transactions:</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Andrew H. Tisch, James S. Tisch and Jonathan M. Tisch, the members of our Office of the President, and members of their families have chartered our aircraft for
        personal travel from time to time. For the use of our owned aircraft, charters are done through an unaffiliated management company and the charterer pays us a fixed hourly rate plus a fuel surcharge which equals or exceeds our out-of-pocket
        operating costs. For the use of an aircraft in which we hold a fractional interest, the charterer pays us a rate that closely approximates our incremental cost. The total amount reimbursed or paid to us in 2019 in connection with this aircraft
        travel was $1,123,598.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Beginning in April 2019, Daniel Tisch, brother of James S. Tisch and Andrew H. Tisch, has leased an apartment at the Loews Regency New York Hotel on a month-to-month
        basis. He paid the hotel an aggregate of $568,012 for the lease in 2019.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Alexander Tisch, son of Andrew H. Tisch, is employed as a Vice President in Loews&#8217;s Corporate Development Department and as Executive Vice President, Commercial &amp;
        Business Development at Loews Hotels. Mr. Tisch, an at-will employee, earned compensation of $1,160,483 in 2019 and participated in benefit programs available to salaried employees generally. In February 2019, he was granted 4,469 restricted stock
        units under our Incentive Compensation Plan.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">Benjamin Tisch, son of James S. Tisch, is employed as a Vice President in Loews&#8217;s Corporate Development Department. Mr. Tisch, an at-will employee, earned compensation of $1,160,483 for
        2019 and participated in benefit programs available to salaried employees generally. In February 2019, he was granted 4,469 restricted stock units under our Incentive Compensation Plan.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">17<br>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="StockOwnership"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0); font-weight: 400;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div style="font-weight: bold;">Stock Ownership</div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Stock Ownership</div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="PrincipalShareholders"><!--Anchor--></a>Principal Shareholders</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows certain information about all persons who, to our knowledge, were the beneficial owners of 5% or more of our common stock as of March 17, 2020
        (unless otherwise indicated). All shares reported were owned beneficially by the persons indicated unless otherwise indicated below.</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zf57a5c477d404b13b887b827ac71219a">

          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 55%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name and Add<font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">ress</font></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Amount Beneficially Owned</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 20%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Percent of Class</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">The Vanguard Group</div>
              <div style="font-size: 8.5pt;">100 Vanguard Blvd.</div>
              <div style="font-size: 8.5pt;">Malvern, PA 19355</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">28,341,315<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.5</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">JPMorgan Chase &amp; Co.</div>
              <div style="font-size: 8.5pt;">270 Park Avenue</div>
              <div style="font-size: 8.5pt;">New York, NY 10017</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,213,650<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">6.1</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">BlackRock, Inc.</div>
              <div style="font-size: 8.5pt;">55 East 52nd Street</div>
              <div style="font-size: 8.5pt;">New York, NY 10055</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17,868,271<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">6.0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
              <div style="font-size: 8.5pt;">c/o Barry L. Bloom</div>
              <div style="font-size: 8.5pt;">655 Madison Avenue, 11th Floor</div>
              <div style="font-size: 8.5pt;">New York, NY 10065</div>
            </td>
            <td style="width: 25%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,898,858<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">6.0</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 55%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
              <div style="font-size: 8.5pt;">c/o Barry L. Bloom</div>
              <div style="font-size: 8.5pt;">655 Madison Avenue, 11th Floor</div>
              <div style="font-size: 8.5pt;">New York, NY 10065</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: top; width: 25%;">
              <div style="text-align: right; font-size: 8.5pt;">15,908,762<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: top; width: 20%;">
              <div style="text-align: right; font-size: 8.5pt;">5.6</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zb244fa238bf148a49c6c46ec912a74d8">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">This information is based on a Schedule 13G report filed by The Vanguard Group, as an investment advisor, on February 12, 2020. According to the report, The Vanguard Group has sole voting power with respect to
                    379,091 shares and sole dispositive power with respect to 27,879,402 shares. The report was filed by The Vanguard Group on behalf of itself and its wholly owned subsidiaries, Vanguard Fiduciary Trust Company and Vanguard Investments
                    Australia, Ltd.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z4b041924afe640a8882424d980857960">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">This information is based on a Schedule 13G report filed by JPMorgan Chase &amp; Co. on January 15, 2020. According to the report, JPMorgan Chase &amp; Co. has sole voting power with respect to 17,926,940
                    shares and sole dispositive power with respect to 18,209,244 shares. The report was filed by JPMorgan Chase &amp; Co. on behalf of itself and its wholly owned subsidiaries, J.P. Morgan Investment Management Inc.; JPMorgan Chase Bank,
                    National Association; JPMorgan Asset Management (UK) Limited; J.P. Morgan Trust Company of Delaware; and J.P. Morgan Securities LLC.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zf5c4442e0e6840b6b81915ce140252b6">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">This information is based on a Schedule 13G report filed by BlackRock, Inc. on February 5, 2020. According to the report, BlackRock, Inc. has sole voting power with respect to 15,221,710 shares and sole
                    dispositive power with respect to 17,868,271 shares. The report was filed by BlackRock, Inc. on behalf of itself and its wholly owned subsidiaries, BlackRock Life Limited, BlackRock International Limited, BlackRock Advisors, LLC,
                    BlackRock (Netherlands) B.V., BlackRock Institutional Trust Company, National Association, BlackRock Asset Management Ireland Limited, BlackRock Financial Management, Inc., BlackRock Japan Co., Ltd., BlackRock Asset Management Schweiz
                    AG, BlackRock Investment Management, LLC, BlackRock Investment Management (UK) Limited, BlackRock Asset Management Canada Limited, BlackRock (Luxembourg) S.A., BlackRock Investment Management (Australia) Limited, BlackRock Advisors (UK)
                    Limited, BlackRock Fund Advisors, BlackRock Asset Management North Asia Limited, BlackRock (Singapore) Limited and BlackRock Fund Managers Ltd.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z48a83ed945a6411b8dca50db6c572921">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(4)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">The amount beneficially owned includes 12,677,653 shares held by trusts of which he is trustee, 70,000 shares held by trusts of which he and his wife are trustees, 3,081,627 shares held by trusts of which his
                    wife is trustee, 1,060,000 shares held by a charitable foundation of which he is a director, 22 shares which he had the right to acquire upon exercise of SARs which were then exercisable and 9,556 shares underlying vested RSUs of which
                    he deferred receipt that could be delivered to him within 60 days of March 17, 2020 if his service with the Company terminated during that time. He has sole voting and dispositive power with respect to 12,677,653 shares.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zd457695e71f24825a7181635b24032bb">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(5)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">The amount beneficially owned includes 14,809,184 shares held by trusts of which he is trustee, 1,090,000 shares held by a charitable foundation of which he is a director, 22 shares which he had the right to
                    acquire upon exercise of SARs which were then exercisable and 9,556 shares underlying vested RSUs of which he deferred receipt that could be delivered to him within 60 days of March 17, 2020 if his service with the Company terminated
                    during that time. He has sole voting and dispositive power with respect to 14,809,184 shares.</div>
                </td>
              </tr>

          </table>
          <div> <br>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">18<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="DirectorandOfficerHolding"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div style="text-align: right; font-weight: bold;">Stock Ownership</div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Director and Officer Holdings</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows certain information, as of March 17, 2020, regarding the shares of our common stock beneficially owned by each director and nominee, each
        executive officer named in the Summary Compensation Table and all of our executive officers and directors as a group, based on data furnished by them.</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z2b199187592c487d8bcfcf5488cd26fe">

          <tr>
            <td style="width: 64%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174); text-align: right;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Amount Beneficially Owned<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> </div>
            </td>
            <td style="width: 1%; vertical-align: top; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Percent of Class</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Ann E. Berman</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8,648</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Joseph L. Bower</div>
            </td>
            <td style="width: 20%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">16,129</div>
            </td>
            <td style="width: 1%; vertical-align: top; text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles D. Davidson</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,615</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Charles M. Diker</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,704</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,836</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Paul J. Fribourg</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8,733</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(8)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Walter L. Harris</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,704</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Philip A. Laskawy</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">13,453</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(10)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Susan P. Peters</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,938</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,908,762</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(12)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.6%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,898,858</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(13)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">6.0%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10,010,882</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(14)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3.5%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Anthony Welters</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,622</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(15)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">*</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">All executive officers and directors as a group</div>
              <div style="font-size: 8.5pt;">(16 persons including those listed above)</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42,975,156</div>
            </td>
            <td style="width: 1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
                </sup></div>
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(16)</sup></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15.2%</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt; font-size: 8pt;">*Represents less than 1% of the outstanding shares.</div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z39751082dfd04025a7460b33c2876987">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Except as otherwise indicated, the persons listed as beneficial owners of the shares have sole voting and investment power with respect to those shares.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zc37d63bd79d64e95b37d3fd0f9197a34">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">The number of shares included for shares issuable upon the exercise of SARs granted under our Stock Option Plan is the number of shares each person would have received had such person exercised his or her
                    SARs, based on the fair market value per share of $35.09 for our common stock, calculated under the terms of our Stock Option Plan, on March 17, 2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3824f7a451994928950e0b9f3ac7c8c8">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 3 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 6,666 shares underlying vested RSUs of which the director deferred receipt
                    that could be delivered to the director within 60 days of March 17, 2020 if the director&#8217;s service as a director terminated during that time; and (iii) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17,
                    2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zc9f04813bd514eea969e2c51dbbfbc73">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(4)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 88 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 2,557 shares underlying vested RSUs of which the director deferred receipt
                    that could be delivered to the director within 60 days of March 17, 2020 if the director&#8217;s service as a director terminated during that time; and (iii) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17,
                    2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z6cf13196a54f4a5b91a4f9ddec0cdb0d">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(5)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17, 2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z091c264675f94f2f83f272c80b199dd5">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(6)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 88 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; and (ii) 1,979 shares underlying unvested RSUs that will vest within 60 days of
                    March 17, 2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zc424d949305d421186ab640daf9a370c">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(7)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes 17 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable. In addition, Mr. Edelson owns beneficially 2,000 shares of CNA Financial Corporation,
                    an 89% owned subsidiary of the company.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zf6da2a96b6044cff9e20b6ebabd32389">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(8)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 88 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 6,666 shares underlying vested RSUs of which the director deferred receipt
                    that could be delivered to the director within 60 days of March 17, 2020 if the director&#8217;s service as a director terminated during that time; and (iii) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17,
                    2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z4f1dff30d61149d4be0dc0b014de82f7">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(9)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 88 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; and (ii) 1,979 shares underlying unvested RSUs that will vest within 60 days of
                    March 17, 2020. In addition, Mr. Harris owns beneficially 1,830 shares of CNA.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z702c1608a1d24f17b207f89b0595d6a0">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(10)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 88 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 4,109 shares underlying vested RSUs of which the director deferred receipt
                    that could be delivered to the director within 60 days of March 17, 2020 if the director&#8217;s service as a director terminated during that time; (iii) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17, 2020;
                    and (iv) 6,000 shares owned beneficially by Mr. Laskawy&#8217;s wife.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zfa88fbebb80c42eba223bf4ed9ac5b51">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(11)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17, 2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z41a1f7600076403392681a738d79c062">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(12)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 22 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 9,556 shares underlying RSUs of which Mr. Andrew Tisch deferred receipt that
                    could be delivered to him within 60 days of March 17, 2020 if his service with the Company terminated during that time; (iii) 14,809,184 shares held by trusts of which Mr. Andrew Tisch is the managing trustee or trustee (inclusive of <br>
                  </div>
                </td>
              </tr>

          </table>
          <div> <br>
            <div style="margin-bottom: 8pt;">
              <div>
                <div>
                  <div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                        <tr>
                          <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                            <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                          </td>
                          <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">19<br>
                          </td>
                        </tr>

                    </table>
                    <div> <br>
                    </div>
                    <div> <br>
                    </div>
                    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
                      <div id="DSPFPageBreak" style="page-break-after: always;">
                        <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
                      <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                          <tr>
                            <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                              <div>
                                <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                                  <div>
                                    <div style="font-weight: bold;">Stock Ownership</div>
                                  </div>
                                </div>
                              </div>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <div>
            <div style="margin: 0px 0px 2px 22.7pt;"><font style="font-size: 8pt;">7,691,285 shares held in trust for his benefit); and (iv) 1,090,000 shares held by a charitable foundation as to which Mr. Andrew Tisch has shared voting and investment
                power. In addition, Mr. Andrew Tisch is the managing trustee and beneficiary of a trust that owns beneficially 106,100 shares of CNA.</font> </div>
            <div></div>
          </div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zdab22b1ff08f4c3f972465b130526ada">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(13)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 22 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 9,556 shares underlying RSUs of which Mr. James Tisch deferred receipt that
                    could be delivered to him within 60 days of March 17, 2020 if his service with the Company terminated during that time; (iii) 12,747,653 shares held by trusts of which Mr. James Tisch is the managing trustee or trustee (inclusive of
                    5,621,842 shares held in trust for his benefit); (iv) 1,060,000 shares held by a charitable foundation as to which Mr. James Tisch has shared voting and investment power; and (v) 3,081,627 shares held by trusts which his wife is the
                    trustee. In addition, Mr. James Tisch owns beneficially 5,000 shares of Diamond Offshore. He is also the managing trustee and beneficiary of a trust that owns beneficially 106,100 shares of CNA.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z243dee92bf0146128d036762e76185fa">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(14)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 22 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable; (ii) 9,683,932 shares held by trusts of which Mr. Jonathan Tisch is the managing
                    trustee or trustee (inclusive of 4,459,638 shares held in trust for his benefit); (iii) 21,928 shares held by a charitable foundation as to which Mr. Jonathan Tisch is the sole trustee; and (iv) 305,000 shares held by charitable
                    foundations as to which Mr. Jonathan Tisch has shared voting and investment power.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zbf9042df1dae4bf582859ab9a826b57e">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(15)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (i) 4,109 shares underlying vested RSUs of which the director deferred receipt that could be delivered to the director within 60 days of March 17, 2020 if the director&#8217;s service as a director
                    terminated during that time and (ii) 1,979 shares underlying unvested RSUs that will vest within 60 days of March 17, 2020.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zf6ff8c76938e43f296069e71ae7da78f">

              <tr>
                <td style="width: 22.7pt; vertical-align: top; font-size: 8pt;">(16)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes 526 shares issuable upon the exercise of SARs granted under our Stock Option Plan that are currently exercisable.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">20<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;"><a name="ProposalNo.2:"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0); font-weight: 400;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div>
                        <div style="text-align: right; font-weight: bold;">Proposal No. 2: Advisory Resolution to Approve Executive Compensation</div>
                      </div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">Proposal No. 2:</div>
      <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Advisory Resolution to Approve Executive Compensation</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">As required by Section 14A of the Exchange Act and pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the &#8220;Dodd-Frank Act&#8221;), we provide
        our shareholders with an annual advisory vote to approve named executive officer compensation. This advisory vote, commonly known as a &#8220;say-on-pay&#8221; vote, is a non-binding vote on the compensation paid to our named executive officers as disclosed
        under the heading &#8220;Executive Compensation&#8221; beginning on page 22 of this Proxy Statement. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our executive compensation program is designed to attract, motivate and retain highly qualified executives who are able to help achieve the company&#8217;s objectives and
        create shareholder value. Our executive compensation programs and objectives are described in detail under the heading &#8220;Compensation Discussion and Analysis&#8221; and the level of compensation paid to our named executive officers during the last three
        years is set out in the Summary Compensation Table and related information. Our Compensation Committee believes that our executive compensation program is effective in achieving our objectives. </div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman'; font-size: 10pt;">This advisory vote to approve named executive officer compensation is not binding on our Board. However, the Board values our shareholders&#8217; input and will take into
        account the result of the vote when determining future executive compensation arrangements.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z44e6715f928f47aeafac341d29f503b6">

          <tr>
            <td style="width: 8.11%; vertical-align: top; background-color: rgb(82, 139, 214);">
              <div style="margin-bottom: 8pt;"><img src="image00011.jpg"></div>
            </td>
            <td style="width: 91.83%; vertical-align: middle; background-color: rgb(82, 139, 214);">
              <div style="color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 14pt;">Accordingly, our Board recommends a vote <font style="font-family: Arial; font-size: 12pt; font-weight: bold;">FOR</font> the following resolution:</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 0px; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;RESOLVED, that the shareholders approve, on an advisory basis, the compensation paid to the company&#8217;s named executive officers as disclosed under the
        heading &#8220;Executive Compensation&#8221; in the Proxy Statement for the 2020 Annual Meeting of Shareholders.&#8221;</div>
      <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div>
        <div style="margin-bottom: 8pt;">
          <div>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                        <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">21<br>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;"><a name="ExecutiveCompensation"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0); font-weight: 400;">
        <table cellspacing="0" cellpadding="0" border="0" id="z6e934b4bdb1b4b559055dded97ca28a7" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">Executive Compensation</div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;"><font style="font-size: 10pt;">&#160; </font><br>
      </div>
      <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="CompensationDiscussionand"><!--Anchor--></a>Compensation Discussion and Analysis</div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="ExecutiveSummary"><!--Anchor--></a></div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 10pt;">&#160;&#160; <br>
      </div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Executive Summary</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman'; font-size: 10pt;">This Compensation Discussion and Analysis contains information about the compensation we pay to our executive officers whose compensation is required to be disclosed
        in the Executive Compensation tables that follow under Securities and Exchange Commission rules (&#8220;named executive officers&#8221;).</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zb6c78cb8aca64645a33e1a9fceb89d09">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(237, 237, 237); width: 99%;">
              <div style="margin-top: 6pt; margin-bottom: 7pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">OUR NAMED EXECUTIVE OFFICERS FOR 2019 WERE:</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237); font-weight: bold;">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237); font-weight: bold;">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237); font-weight: bold;">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237); font-weight: bold;">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">President and Chief Executive Officer, Office of the President</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">Senior Vice President and Chief Financial Officer</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">Office of the President, Co-Chairman of the Board, Chairman of the Executive Committee</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="font-size: 8pt;">Office of the President, Co-Chairman of the Board, Loews Corporation; Chairman and Chief Executive Officer, Loews Hotels</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 19%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">Senior Vice President</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">WHO WE ARE</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Loews Corporation is a holding company. We own a controlling interest in a diverse portfolio of businesses, including: </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="za18a00d35c3846ec811a7de45fbd02ce">

          <tr>
            <td style="width: 19%; vertical-align: middle; text-align: center;">
              <div style="text-align: left;">&#160;<img src="image00012.jpg"></div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 18%; vertical-align: middle;">
              <div style="margin-top: 1pt;"><img src="image00013.jpg"></div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 19%; vertical-align: middle;">
              <div style="margin-top: 1pt;"><img src="image00014.jpg"></div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 18%; vertical-align: middle;">
              <div style="margin-top: 1pt;"><img src="image00015.jpg"></div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 18%; vertical-align: middle;">
              <div style="margin-top: 1pt;"><img src="image00016.jpg"></div>
            </td>
          </tr>
          <tr>
            <td style="width: 19%; vertical-align: top;">
              <div style="font-size: 8pt;">CNA Financial Corporation is a property</div>
              <div style="margin-top: 1pt; margin-bottom: 0px; font-size: 8pt;">and casualty insurer</div>
              <div style="font-size: 8pt;">(89% ownership interest)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 18%; vertical-align: top;">
              <div style="margin-top: 1pt; margin-bottom: 0px; font-size: 8pt;">Diamond Offshore Drilling, Inc. is a provider of offshore drilling services worldwide</div>
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">(53% ownership interest)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 19%; vertical-align: top;">
              <div style="margin-top: 1pt; margin-bottom: 0px; font-size: 8pt;">Boardwalk Pipelines is a provider of natural gas and liquids transportation and storage services</div>
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">(100% ownership interest)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 18%; vertical-align: top;">
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">Loews Hotels is an operator and manager of hotels (100% ownership interest)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 18%; vertical-align: top;">
              <div style="margin-top: 1pt; margin-bottom: 0px; font-size: 8pt;">Altium Packaging (formerly known as Consolidated Container Company) is a manufacturer of rigid plastic packaging</div>
              <div style="margin-top: 1pt; margin-bottom: 6pt; font-size: 8pt;">(99% ownership interest)</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, we had over $3.3 billion of cash and investments at the holding company level as of December 31, 2019. </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">Our primary function is to allocate our capital in a way that drives long-term value creation and returns for our shareholders. To do this we make decisions related to investments in our
        subsidiaries, repurchases of our shares, acquisitions and dispositions of subsidiaries and prudent investment of our cash and investment assets.</div>
      <div> <br>
      </div>
      <div>
        <div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">22<br>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                      <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

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              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In light of our business model, our most critical asset is our people &#8212; our human capital &#8212; including our senior leadership team that drives our capital allocation
        decisions. All of our executive officers and substantially all of our other employees are located in our headquarters office and a neighboring building in New York City. We not only compete for leadership talent with our and our subsidiaries&#8217; peer
        companies, but also with New York City-based financial services firms, including investment and commercial banks, private equity funds, hedge funds, insurance and reinsurance companies and other sophisticated financial firms. Our compensation
        policies and practices are driven by our need to attract and retain highly qualified, financially sophisticated executive officers in this competitive marketplace and motivate them to provide a high level of performance for our shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">OUR COMPENSATION PHILOSOPHY</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We have maintained a consistent compensation philosophy for many years, which takes into account that the quality of our leadership has a direct impact on our
        performance. Our compensation philosophy is based on the following objectives:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z4cb8412dce5247c786ad672fe9a9d8ce">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Motivating superior long-term financial performance and the creation of shareholder value;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zef3380b22cc44fd281225bd5f67acdb2">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Discouraging unreasonable risk taking;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z6c0c9184b9954d7fbe2b0c3811050300">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Aligning compensation with our long-term strategy and focus and the interests of our shareholders;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z81c94228cb9d448a91c4cd8dd522b289">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Providing market-competitive compensation;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zf51e68aa2a67442ea6d864b31ea43fb6">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Avoiding excessive compensation; and</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z1a94fdf5cf53447382979a943ab22fbc">

              <tr>
                <td style="width: 9.35pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Attracting and retaining high-caliber executive talent.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We believe in recognizing the performance of our executive officers primarily through a combination of cash compensation, made up of a fixed base
        salary and incentive compensation, and stock-based compensation, which, in 2019, consisted of performance-based restricted stock units. Because cash incentive compensation and our restricted stock unit awards are tied to performance, a large
        majority of the compensation paid to our executive officers is performance-based and, other than their fixed base salaries, no compensation is guaranteed. </div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">HOW WE STRUCTURE OUR EXECUTIVE COMPENSATION PROGRAM</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We structure our executive compensation to avoid the possibility of excessive compensation in any given year, including through:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zd5b35e6f6b824753bc24b6d15d18d776">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">the Compensation Committee&#8217;s ability to exercise negative discretion in determining cash incentive compensation;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z8706cdd9b625456e871c6e5e80b6e186">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">setting what we believe to be reasonable, but achievable, performance targets for both cash incentive compensation and stock-based awards; and</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zdc85407a29734740bb5d4639d512a49a">

              <tr>
                <td style="width: 9.35pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">generally not paying cash incentive compensation in excess of pre-established target levels set by the Compensation Committee.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We believe this structure provides ample motivation for our executive officers to maximize their performance and focus on the long-term success of the company, while
        deterring unreasonable risk taking with an eye toward short-term results.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">The fixed base salary for our named executive officers has generally comprised substantially less than half of their total potential cash compensation, with the balance coming from our
        performance-based Incentive Compensation Plan. In setting potential awards under that plan, our Compensation Committee sets what it believes are reasonable, but achievable, target levels, but reserves broad discretion to reduce or eliminate
        incentive compensation. The Compensation Committee also establishes maximum award levels that will not be exceeded.</div>
      <div> <br>
      </div>
      <div>
        <div>
          <div style="margin-bottom: 8pt;">
            <div>
              <div>
                <div>
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                      <tr>
                        <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                          <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                        </td>
                        <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">23<br>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In selecting and allocating the elements of our executive compensation program, we have considered, among other things, our historical compensation policies as they
        have evolved over the years, surveys of executive compensation at comparably sized companies and information concerning the executive compensation programs of various companies engaged in businesses similar to ours and our principal subsidiaries as
        well as others with which we compete for talent in the New York City marketplace. To assist in gathering this information and benchmarking our executive compensation practices against the practices at these companies, our human resources group
        engaged the compensation consultant, Semler Brossy.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">OUR GOAL IS TO INCREASE SHAREHOLDER VALUE OVER THE LONG TERM</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our compensation program is intended to align the interests of our senior executives with those of our shareholders. Our goal is to increase shareholder value over the
        long term and to reasonably reward superior performance that supports that goal. In establishing the aggregate amount of targeted compensation for each named executive officer, we do not rely on formula-driven plans, which could result in
        unreasonably high compensation levels and encourage excessive risk taking. Instead, aggregate target compensation is based on an evaluation of the individual&#8217;s performance, skills, leadership and expected future contributions in the context of our
        financial performance and seeks to achieve the objectives of our compensation philosophy set forth above. Based on these considerations, we determine an overall level of target cash compensation, a portion of which is to be paid as base salary and
        the balance of which is structured to be performance-based cash compensation, and a level of stock-based awards. We consider the aggregate compensation (earned or potentially available) to each named executive officer in establishing each element
        of compensation.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">2019 TOTAL CASH AND STOCK-BASED COMPENSATION</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">These charts show each of the three principal elements of our compensation program as a percentage of total cash and stock-based compensation for our Chief Executive
        Officer and other named executive officers in 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">CEO</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z055ecb9fa18349cfa82607d038c58821">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 15%; vertical-align: top; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 5pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Base Salary</div>
              <div style="margin-top: 0px; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">17.1%</div>
            </td>
            <td style="width: 68%; vertical-align: top; background-color: rgb(162, 192, 232);">
              <div style="margin-top: 5pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Cash Incentive Compensation</div>
              <div style="margin-top: 0px; margin-bottom: 3pt; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">67.1%</div>
            </td>
            <td colspan="1" style="background-color: rgb(83, 138, 199); vertical-align: top; width: 1%;">&#160;</td>
            <td style="background-color: rgb(83, 138, 199); vertical-align: top; width: 15%;">
              <div style="margin-top: 3pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Stock-Based Awards</div>
              <div style="color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">15.8%</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
            <td style="width: 68%; vertical-align: middle; background-color: rgb(41, 98, 174);">
              <div style="margin-top: 3pt; margin-bottom: 3pt; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">Incentive Compensation: 82.9%</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);">&#160;</td>
            <td style="width: 15%; vertical-align: middle; background-color: rgb(41, 98, 174);"><br>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">OTHER NEOs</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zfbfd0df0cbe240a69cd0faf5cbb4b396">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 15%; vertical-align: top; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 5pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Base Salary</div>
              <div style="margin-top: 0px; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">18.4% &#8211; 21.2%</div>
            </td>
            <td style="width: 68%; vertical-align: top; background-color: rgb(162, 192, 232);">
              <div style="margin-top: 3pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Cash Incentive Compensation</div>
              <div style="margin-top: 0px; margin-bottom: 3pt; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">59.2% &#8211; 68.3%</div>
            </td>
            <td colspan="1" style="background-color: rgb(83, 138, 199); vertical-align: top; width: 1%;">&#160;</td>
            <td style="background-color: rgb(83, 138, 199); vertical-align: top; width: 15%;">
              <div style="margin-top: 3pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt;">Stock-Based Awards</div>
              <div style="color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">13.4% &#8211; 19.6%</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;"><br>
            </td>
            <td style="width: 68%; vertical-align: middle; background-color: rgb(41, 98, 174);">
              <div style="margin-top: 3pt; margin-bottom: 0px; color: rgb(255, 255, 255); font-size: 7.5pt; font-weight: bold;">Incentive Compensation: 78.8% &#8211; 81.6%</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: middle; background-color: rgb(41, 98, 174);">&#160;</td>
            <td style="width: 15%; vertical-align: middle; background-color: rgb(41, 98, 174);"><br>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">24<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">SAY ON PAY VOTE</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">At our 2019 annual meeting of shareholders, 95.1% of the shares voted approved, on an advisory basis, our executive compensation program. We believe this result
        represents a strong endorsement of our executive compensation philosophy and practices.</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zdc1754ffe7094ae999cdfc989d8cd2ad">

          <tr>
            <td style="width: 30%; vertical-align: top; border-top: 2px solid rgb(41, 98, 174);">
              <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">SAY ON PAY VOTE APPROVAL</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In the last five years, we received an average approval of approximately 91% in our annual advisory vote of shareholders on our executive compensation program.</div>
              <div>&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top; border-top: 2px solid rgb(41, 98, 174);">
              <div style="margin-bottom: 4pt;"><img src="image00017.jpg"></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CompensationGovernance"><!--Anchor--></a>Compensation Governance</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We are committed to good compensation governance and design and administer our executive compensation program to be consistent with our business goals and in the best
        interests of our shareholders. In that regard, we:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z96ee79eb50734055aa1f0bcc2b868fef">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">maintain a fully independent Compensation Committee, which oversees all aspects of our executive compensation and monitors, reviews and approves all executive compensation
                    decisions;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3512d8e3d56841efa5178878453b1421">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">structure our cash incentive compensation awards to executive officers so that the Compensation Committee may exercise negative discretion over these awards;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zed73443b49ed466a9b1799f0a4bf32a0">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">structure our executive officers&#8217; stock-based compensation to be performance-based;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z763f59b1f65f4c97ac72e13b218e698f">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">have a clawback policy that allows for the recoupment of incentive compensation;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z7229547ce6564b629ca1ff0e09235b10">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">do not have employment agreements with, or guarantee compensation to, any of our executive officers;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z179544ef19834e9eb4a2265b0b2427ab">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">do not maintain agreements with any of our executive officers to pay severance upon a change in control; and</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zb8558ae96fa6439f9bb8245a53f9552e">

              <tr>
                <td style="width: 9.35pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">conduct an annual advisory vote of shareholders on our executive compensation practices. We have received a large majority advisory vote in favor of our executive pay program
                    every year since implementing this vote.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CompensationProgramStruct"><!--Anchor--></a></div>
      <div style="margin-top: 10pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><font style="font-size: 10pt; font-weight: bold;">&#160;</font><br>
        Compensation Program Structure and Process</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The principal components of compensation for our named executive officers are:</div>
      <div style="margin-bottom: 4pt;">
        <div>
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                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">base salary;</div>
                </td>
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          </table>
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        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="za073122664264fc7b380ee849ccc80a8">

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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
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                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">performance-based cash incentive compensation awards;</div>
                </td>
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        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zfee41fb138ff4540953ae5e606f8694d">

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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">performance-based stock-based awards; and</div>
                </td>
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      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zaed9a7a405824102949d5ecb4a352591">

              <tr>
                <td style="width: 9.35pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">retirement, medical and related benefits.</div>
                </td>
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        </div>
      </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">Each year, our Chief Executive Officer, after consulting with the other members of the Office of the President and 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 </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
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                            <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                          </td>
                          <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">25<br>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
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      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">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 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&#8217;s final deliberations
        on compensation matters.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">BASE SALARY</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The base salary for each of our named executive officers has remained unchanged at approximately $1 million per annum for at least the last five years. Historically,
        this reflected the impact of provisions of 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.
        While these provisions are no longer applicable, the base salary for each of our named executive officers remained unchanged in 2019 and continues to be approximately $1 million as the relative lower weight of base salary to performance-based
        compensation is consistent with the Compensation Committee&#8217;s belief that performance-based compensation should be the greater part of the compensation of each of our named executive officers.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">CASH INCENTIVE COMPENSATION AWARDS</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The largest portion of the compensation of our named executive officers in 2019 came from cash awards under our Incentive Compensation Plan. This element of our
        compensation program ensures that a significant portion of each executive&#8217;s annual compensation is dependent on Loews&#8217;s annual achievement of a metric that we call &#8220;performance-based income.&#8221;</div>
      <div style="color: rgb(41, 98, 174); font-size: 8.5pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="2" border="0" id="ze5f984656cba45768e702c1e144c6a8b" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

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              <td style="width: 1%; border-left: 1px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174);">
                <div>&#160;</div>
              </td>
              <td style="width: 98%; border-bottom: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174);">
                <div style="text-align: left; color: rgb(41, 98, 174); font-size: 8.5pt; font-weight: bold;">Defining Performance-based Income</div>
                <div style="margin-top: 2pt; margin-bottom: 2pt; font-size: 8.5pt; text-align: left;">Performance-based income is defined in our Incentive Compensation Plan as our consolidated net income as adjusted by the Compensation Committee under the
                  terms of our Incentive Compensation Plan to account for specific factors that may impact our business, but which the Compensation Committee deems reasonable and appropriate to exclude or include in determining performance for incentive
                  compensation purposes. The Compensation Committee may take into account, among other things, the potential impact on our earnings of realized and unrealized investment gains and losses, accounting changes, acquisitions and dispositions,
                  charges relating to litigation, charges relating to reserve strengthening and adverse development associated with prior accident years at CNA, catastrophes and changes in legislation or regulation.</div>
              </td>
              <td style="width: 1%; border-right: 1px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174);">
                <div>&#160;</div>
              </td>
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      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">PROCESS OF ESTABLISHING ANNUAL INCENTIVE COMPENSATION AWARDS</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z8e96e3f684274d10b06a1f3c359a25f8">

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            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(82, 139, 214);">
              <div style="margin-top: 5pt; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 15pt; font-weight: bold;">STEP 1</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 59.14%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 4pt; margin-bottom: 4pt; color: rgb(255, 255, 255); font-size: 9.5pt; font-weight: bold;">Establish annual performance bonus pool</div>
            </td>
            <td style="width: 23.88%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 2pt; margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 8.5pt;">First quarter of each year</div>
            </td>
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            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 8pt; margin-bottom: 8pt; color: rgb(41, 98, 174);">First, the Compensation Committee establishes an annual performance bonus pool expressed as a percentage of our performance-based income for that year.</div>
            </td>
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            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(210, 225, 244);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(210, 225, 244);">
              <div style="margin-top: 2pt; margin-bottom: 0px; font-family: 'Times New Roman'; font-size: 10pt;">The performance bonus pool is not an expectation of the bonus amounts that will, in fact, be paid; rather, it sets the outer limit of
                compensation that can be paid to all executive officers in our incentive compensation program for the year.</div>
              <div style="margin-top: 6pt; margin-bottom: 5pt; font-family: 'Times New Roman'; font-size: 10pt;">The Committee allocates a portion of the performance bonus pool to each of the named executive officers and other executive officers who
                participate in the incentive compensation program.</div>
            </td>
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                        <td style="width: 50%; font-weight: bold; font-size: 8pt;">26<br>
                        </td>
                        <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                          <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                        </td>
                      </tr>

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                </div>
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      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
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      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z0ce5e4c6368949e99c3affdd0a0a3aa7">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(82, 139, 214);">
              <div style="margin-top: 5pt; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 15pt; font-weight: bold;">STEP 2</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 59.14%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-bottom: 1pt; color: rgb(255, 255, 255); font-size: 9.5pt; font-weight: bold;">Establish Target Award</div>
            </td>
            <td style="width: 23.88%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 5pt; margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 8.5pt;">
                <div style="margin-top: 5pt; margin-bottom: 2pt; color: rgb(255, 255, 255);">First quarter of each year</div>
              </div>
            </td>
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            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(237, 237, 237); width: 99%;">
              <div style="margin-top: 5pt; margin-bottom: 8pt; color: rgb(41, 98, 174);">Then, the Compensation Committee establishes a target award (expressed as a dollar amount) for each participant, based on an assessment of the individual&#8217;s expected
                performance.</div>
            </td>
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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(210, 225, 244);">&#160;</td>
            <td style="vertical-align: top; background-color: rgb(210, 225, 244); width: 99%;">
              <div style="margin-top: 2pt; margin-bottom: 2pt; font-family: 'Times New Roman'; font-size: 10pt;">The intention is that the incentive compensation award will not exceed the target award (even if the portion of the performance bonus pool
                allocated to a participant is in excess of the established target), except based on the Compensation Committee&#8217;s discretion.</div>
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      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z8b3e525d7be841b78b563482c471fd1a">

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            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(82, 139, 214);">
              <div style="margin-top: 5pt; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 15pt; font-weight: bold;">STEP 3</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 59.14%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 2pt; margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 9.5pt; font-weight: bold;">Establish Maximum Award</div>
            </td>
            <td style="width: 23.88%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 8.5pt;">First quarter of each year</div>
            </td>
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      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 4px 0px 8pt; color: #2962AE;">Next, the Compensation Committee establishes a maximum award (expressed as a dollar amount) for each participant, to cap the amount in excess of the target that the Committee may in its
                discretion award any participant.</div>
            </td>
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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(210, 225, 244);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(210, 225, 244);">
              <div style="margin-top: 2pt; margin-bottom: 2pt; font-family: 'Times New Roman'; font-size: 10pt;">A participant&#8217;s award cannot exceed the portion of the performance bonus pool allocated to the participant, and also cannot exceed the maximum
                award amount established by the Committee. In addition, it has been the practice of the Compensation Committee to retain negative discretion in the payment of awards, which allows the Committee to reduce or eliminate any award at its
                discretion.</div>
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      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z96a97b2e9061406487f4569cdb5dd5ae">

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            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(82, 139, 214);">
              <div style="margin-top: 5pt; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 15pt; font-weight: bold;">STEP 4</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 59.14%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-top: 2pt; margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 9.5pt; font-weight: bold;">Define Performance-based Income</div>
            </td>
            <td style="width: 23.88%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 8.5pt;">First quarter of each year</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 4pt; margin-bottom: 8pt; color: rgb(41, 98, 174);">The Compensation Committee determines what adjustments should be made to our consolidated net income for the year to account for factors that would not be appropriate
                to include when determining performance for incentive compensation purposes.</div>
            </td>
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          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(210, 225, 244);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(210, 225, 244);">
              <div style="margin-top: 2pt; margin-bottom: 2pt; font-family: 'Times New Roman'; font-size: 10pt;">However, by reserving the ability to exercise negative discretion to reduce an award otherwise earned, the Committee retains the ability to
                take into account these excluded items and other factors it deems relevant.</div>
            </td>
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      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z3980307c323f459782ea6f77eb106a67">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: middle; background-color: rgb(82, 139, 214);">&#160;</td>
            <td style="width: 15%; vertical-align: middle; background-color: rgb(82, 139, 214);">
              <div style="margin-top: 5pt; margin-bottom: 5pt; color: rgb(255, 255, 255); font-size: 15pt; font-weight: bold;">STEP 5</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(127, 127, 127);">&#160;</td>
            <td style="width: 59.14%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-bottom: 1pt; color: rgb(255, 255, 255); font-size: 9.5pt; font-weight: bold;">Calculate Performance-based Income and Conduct Participant Performance Assessment</div>
            </td>
            <td style="width: 23.88%; vertical-align: middle; background-color: rgb(127, 127, 127);">
              <div style="margin-bottom: 2pt; color: rgb(255, 255, 255); font-size: 8.5pt;">First quarter of following year</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin: 4px 0px 8pt; color: #2962AE;">After the fiscal year ends, the amount of performance-based income earned for the year is determined. Once this has been determined, the Compensation Committee reviews and re-assesses each
                participant&#8217;s performance in the context of our financial performance and seeking to achieve the goals of our compensation philosophy.</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(210, 225, 244);">&#160;</td>
            <td style="width: 99%; vertical-align: top; background-color: rgb(210, 225, 244);">
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Based upon this review and re-assessment, the Committee awards incentive compensation out of each executive&#8217;s pre-allocated percentage of the performance bonus pool.</div>
              <div style="margin-top: 6pt; margin-bottom: 2pt; font-family: 'Times New Roman'; font-size: 10pt;">The Committee, in its discretion, then determines whether to award incentive compensation that meets or exceeds the target award (up to the
                maximum award established for that individual) or that is lower than the target award. Historically, the Committee has exercised its negative discretion to limit awards paid to the pre-established target amounts.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 9pt; margin-bottom: 4pt; font-size: 8.5pt; font-weight: bold;">How We Determined the Performance Bonus Pool for 2019 Incentive Compensation</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">For 2019, the Compensation Committee established at the beginning of 2019 a performance bonus pool of 4.5% of performance-based income, which it determined was an appropriate level to
        recognize the performance of plan participants, which include our named executive officers and other executive officers.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div>
        <div style="font-family: 'Times New Roman'; font-size: 10pt;">
          <div>
            <div>
              <div style="margin-bottom: 8pt;">
                <div>
                  <div>
                    <div>
                      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                          <tr>
                            <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                              <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                            </td>
                            <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">27<br>
                            </td>
                          </tr>

                      </table>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">As has historically been the case, there was no expectation that the entire performance bonus pool would, in fact, be awarded and paid out, as the Committee&#8217;s practice
        has been to exercise its discretion to pay bonuses amounting to only a fraction of the performance bonus pool. The potential for excessive compensation was further limited by the establishment at the beginning of 2019 of target levels and absolute
        maximum amounts for each named executive officer and other executive officer participating in our incentive compensation program.<br>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" id="zc37890d61b4c46b6ae06c412630785a0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 55%;">
                <div>
                  <div style="text-align: left; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In allocating the performance bonus pool and establishing the target and maximum awards for each named executive officer, the Compensation
                    Committee took into account:</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; our compensation philosophy and objectives, which aim to reasonably reward superior performance while eschewing formula-driven criteria, which have the potential of providing unreasonably high
                    compensation levels;</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">
                    <div style="text-indent: -18pt; margin-left: 18pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; the
                      individual&#8217;s duties, past and expected performance of those duties and compensation history; and</div>
                    <div>
                      <div><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font>&#160;&#160; our goals of increasing shareholder value over the long
                        term.</div>
                    </div>
                  </div>
                </div>
              </td>
              <td colspan="1" style="width: 3%;">&#160;</td>
              <td colspan="1" style="border-bottom: 1px solid rgb(41, 98, 174); border-left: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174); width: 1%;">&#160;</td>
              <td colspan="1" style="border-bottom: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174); width: 40%;">
                <div style="text-align: left; color: rgb(41, 98, 174); font-size: 8.5pt; font-weight: bold;">Negative discretion</div>
                <div style="text-align: left; margin-bottom: 8pt; font-size: 8.5pt;">An integral part of the implementation of the cash incentive compensation program by the Compensation Committee is the ability to use negative discretion for the award to
                  each executive officer, allowing the Committee to reduce or eliminate any award notwithstanding the level of performance-based income. This gives the Committee the flexibility to appropriately evaluate the performance of each executive
                  officer considering not only the level of performance-based income, but also Loews&#8217;s consolidated net income and the individual&#8217;s performance.</div>
              </td>
              <td colspan="1" style="border-bottom: 1px solid rgb(41, 98, 174); border-right: 1px solid rgb(41, 98, 174); border-top: 1px solid rgb(41, 98, 174); width: 1%;">&#160;</td>
            </tr>

        </table>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">For each named executive officer, other than the Chief Executive Officer, the Compensation Committee also took into account the recommendations of the Chief Executive
        Officer. The Committee relied on these qualitative factors, together with its discretion to reduce awards below the target award as well as to pay awards up to the maximum amount, and determined not to establish other specific, quantitative
        criteria or numerical formulas of performance measures.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 NEO TARGET AND MAXIMUM AWARDS AND BONUS POOL ALLOCATION</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The 2019 target and maximum awards and the share of the performance bonus pool allocated to each named executive officer were established in the first quarter of 2019
        as follows:</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z444989af17664ef8bf8c6a3af98bdc9b">

          <tr>
            <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Share of 4%</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Bonus Pool Allocated</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 18%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Target Award</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Maximum Award</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; font-size: 8.5pt;">19.1</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); font-size: 8.5pt;">%</td>
            <td style="width: 18%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; font-size: 8.5pt;">$3,825,000</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; font-size: 8.5pt;">$5,000,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18.1</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,625,000</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,750,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">13.6</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,725,000</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,000,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15.5</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,100,000</div>
            </td>
            <td style="width: 20%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,500,000</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 40%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%;">
              <div style="text-align: right; font-size: 8.5pt;">17.2</div>
            </td>
            <td colspan="1" style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 2%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 18%;">
              <div style="text-align: right; font-size: 8.5pt;">3,450,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 20%;">
              <div style="text-align: right; font-size: 8.5pt;">4,500,000</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 ADJUSTMENTS TO CONSOLIDATED NET INCOME AND RATIONALE</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Compensation Committee determined in the first quarter of 2019 that net income should be adjusted to determine performance-based income for 2019 as set forth below. However, by
        reserving the ability to exercise negative discretion to reduce an award otherwise earned, the Committee retained the ability to take into account these excluded items (including, for example, impairments) and other factors it deems relevant when
        ultimately approving awards.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                      <tr>
                        <td style="width: 50%; font-weight: bold; font-size: 8pt;">28<br>
                        </td>
                        <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                          <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
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          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <br>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zaadc5dfc252741cb8c1e3ebaf1f71987">

          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 49%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Adjustment identifie<font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">d i</font>n
                first quarter 2019</div>
            </td>
            <td colspan="1" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 2%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 49%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Rationale for exclusion</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">The effect of accounting changes</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="margin-bottom: 3pt; font-size: 8.5pt;">This item was excluded because:</div>
              <div style="margin-top: 3pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 8.5pt; color: rgb(41, 98, 174);">&#8226;&#160;&#160; </font><font style="font-size: 8.5pt;">by its nature it is not a cash item;</font></div>
              <div style="margin-top: 3pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 8.5pt; color: rgb(41, 98, 174);">&#8226;</font><font style="font-size: 8.5pt;">&#160;&#160; it is not within the control of the company or any named executive officer;
                  and</font></div>
              <div style="margin-top: 3pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 8.5pt; color: rgb(41, 98, 174);">&#8226;&#160;&#160; </font><font style="font-size: 8.5pt;">it has the possibility of increasing or decreasing net income in ways that
                  may not be predictable when performance-based income is established.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Net losses attributed to the impairment of goodwill or long-lived assets</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">This item was excluded because:</div>
              <div style="margin-top: 3pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 8.5pt; color: rgb(41, 98, 174);">&#8226;&#160;&#160; </font><font style="font-size: 8.5pt;">it is not a cash item;</font></div>
              <div style="margin-top: 3pt; font-size: 8.5pt; text-indent: -9pt; margin-left: 9pt;"><font style="color: rgb(41, 98, 174);">&#8226;&#160;&#160; </font>under generally accepted accounting principles, goodwill and long-lived assets are accounted for using an
                impairment-based model under which the carrying value is subject to reduction, resulting in charges to income, based on a decline in fair value, but the carrying value cannot be increased in subsequent periods if fair values rise; and</div>
              <div style="margin-top: 3pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-size: 8.5pt; color: rgb(41, 98, 174);">&#8226;</font><font style="font-size: 8.5pt;">&#160;&#160; doing so encourages management to approach impairment decisions objectively
                  and impartially.</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Any net income or loss attributable to the impact of reserve strengthening and adverse dividend or premium development associated with asbestos and environmental pollution reserves at
                CNA for accident years prior to 2000, and any favorable or unfavorable income statement impact of applying retroactive insurance accounting to the losses ceded in connection with CNA&#8217;s 2010 loss portfolio transfer</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">In 2010, CNA entered into a loss portfolio transfer transaction under which substantially all of its estimated legacy asbestos and environmental pollution liabilities were ceded to a reinsurer. Accordingly, the
                Compensation Committee determined that any remaining charges related to this pre-2001 legacy business, as well as any net income which may result from the reinsurance benefits relating to the loss portfolio transfer transaction, should not
                be considered when measuring current performance.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Charges relating to reserve strengthening and adverse dividend or premium development at</div>
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">CNA associated with accident years prior to 2000 related to mass tort claims</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">The Compensation Committee decided to exclude these charges because it believes that the impact of these claims is not an appropriate measure of current performance.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Charges relating to net reserve strengthening relating to CNA&#8217;s long-term care or benefit settlement option liabilities or relating to a charge recognized in connection with a
                disposition (or proposed disposition), a loss portfolio transfer or other transaction that is intended to fix or limit CNA&#8217;s exposure to its run-off Life &amp; Group business</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">CNA&#8217;s individual and group long-term care businesses are in run-off and its payout annuity business was in run-off prior to its disposition in 2014. The Compensation Committee determined that any charges from a
                transaction that would substantially mitigate CNA&#8217;s exposure to these legacy businesses should not be taken into account in measuring current performance.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Realized gains and losses</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">The Compensation Committee decided to exclude both realized gains and realized losses because the decision to realize a gain or a loss can be a discretionary decision. Accordingly, by excluding realized gains
                and losses, any implication that an individual could be wrongly motivated in taking or failing to take a gain or loss in an effort to impact consolidated net income would be removed. In addition, a significant component of the company&#8217;s
                realized investment gains and losses in recent years has included &#8220;other-than-temporary impairments&#8221; of investment securities. As is the case with respect to impairments of goodwill or long-lived assets, these impairments can only result in
                charges; any subsequent increase in the market value of an impaired security can be recognized only if that security is sold.</div>
            </td>
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                                <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                              </td>
                              <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">29<br>
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                        </table>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
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      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Adjustment identifie<font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-style: normal; font-variant: normal; text-transform: none;">d i</font>n
                first quarter 2019</div>
            </td>
            <td rowspan="1" colspan="1" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: top; width: 2%;">&#160;</td>
            <td rowspan="1" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: top; width: 49%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Rationale for exclusion</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Catastrophe losses of CNA in excess of, but not less than, CNA&#8217;s budgeted amount</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">The Compensation Committee excluded this item because the level of catastrophes that impact a property and casualty insurer is, of course, unpredictable and, accordingly, not an appropriate way to measure
                performance. On the other hand, performance-based income should not be increased just because of a low level of catastrophes in any year. The Compensation Committee determined that the amount for catastrophe losses budgeted at the beginning
                of the year &#8212; which at times has been higher or lower than the actual level of catastrophe losses &#8212; is preferable for measuring performance.</div>
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            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Charges relating to the disposition, by judgment or settlement, of smoking- and health-related litigation</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">The company&#8217;s former subsidiary, Lorillard, Inc., has been subject to numerous claims for damages related to its cigarette business allegedly resulting from actions taken many years ago. In connection with the
                2008 disposition of Lorillard, Lorillard indemnified the company from any and all claims relating to the operation of its business, including smoking and health claims. In light of this, the Compensation Committee determined that any
                charges of this nature would not be appropriate in determining performance-based income.</div>
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            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Any net income or loss attributable to changes in deferred income tax assets and liabilities resulting from a change in income tax rates in 2019</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Several of Loews&#8217;s subsidiaries, by the nature of their business, recognize significant deferred income tax assets and liabilities, which have accumulated over many years. A change in the income tax rate could
                have a significant impact on these deferred tax items and on Loews&#8217;s net income since the impact in the year of this change would involve the entire historical balance of deferred tax assets or liabilities. The Compensation Committee
                determined to exclude this item since any change in income tax rates is, of course, unpredictable and not within the company&#8217;s control, and the resulting impact on net income and loss would not be a suitable indication of performance.</div>
            </td>
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            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: top; width: 49%;">
              <div style="color: rgb(41, 98, 174); font-size: 8.5pt;">Any gain or loss on disposal of discontinued operations (but not income from operations of the discontinued operations)</div>
            </td>
            <td colspan="1" style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: top; width: 2%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: top; width: 49%;">
              <div style="font-size: 8.5pt;">The Compensation Committee determined to exclude both gains and losses from the disposal of discontinued operations in the belief that the results from a disposition, whether positive or negative, relate to the
                generally multi-year holding period of the asset disposed of, even though recognized in the year of disposal. Therefore, any such gains or losses could distort net income in the year of disposition.</div>
            </td>
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      </table>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">For 2019, performance-based income ultimately amounted to $1,139 million compared to consolidated net income of $932 million.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">PERFORMANCE-BASED STOCK-BASED AWARDS</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The third principal element of our compensation program for named executive officers and other executive officers is stock-based awards, which in 2019 consisted of
        performance-based restricted stock units (&#8220;PRSUs&#8221;). </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The PRSUs, similar to the time-vesting RSUs granted in 2019 to our non-executive officers and certain other managerial and professional employees (&#8220;non-executive
        RSUs&#8221;), will vest in two equal tranches (subject to earlier vesting in the case of death, disability, termination without cause and certain retirements):</div>
      <div style="margin-bottom: 4pt;">
        <div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Wingdings 2',serif; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">50% on the second anniversary of the grant date; and</div>
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        <div>
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                <td style="width: 9.35pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Wingdings 2',serif; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">50% on the third anniversary of the grant date.</div>
                </td>
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        </div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, for dividends, the PRSUs (along with non-executive RSUs) are credited cash (accruing interest each year at the one-year Treasury rate applicable in January
        of the year the dividend is paid) in respect of dividends paid, with such cash to be delivered to the executives only if and when the underlying PRSUs have been actually earned and vested.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">However, unlike non-executive RSUs, in addition to being subject to the same time-vesting terms as non-executive RSUs, PRSUs granted to our executive officers are also subject to
        performance-vesting terms.</div>
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                          <td style="width: 50%; font-weight: bold; font-size: 8pt;">30<br>
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                          <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                            <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                          </td>
                        </tr>

                    </table>
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                </div>
              </div>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                </div>
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      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The performance-vesting terms make PRSUs dependent on the company achieving a pre-established level of performance-based income per share for 2019. The terms of the
        PRSUs awarded in the first quarter of 2019 provided that they would be earned by our executive officer recipients as follows (subject to the time-vesting provisions of the PRSUs):</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">PERFORMANCE-BASED INCOME PER SHARE:</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z4ada951a612544d2b8dc5e8c7acb9493">

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            <td style="width: 50%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">At or Above Target</div>
            </td>
            <td style="width: 50%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">100% of PRSUs earned</div>
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            <td style="width: 50%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">At 50% to 100% of Target</div>
            </td>
            <td style="width: 50%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Pro rata portion of PRSUs earned</div>
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            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 50%;">
              <div style="font-size: 8.5pt;">Below 50% of Target</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 50%;">
              <div style="font-size: 8.5pt;">No PRSUs earned</div>
            </td>
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      </table>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In connection with the grant of PRSUs to our executive officers in the first quarter of 2019, the Compensation Committee established the
        performance-based income per share target for PRSUs at $1.75 per share.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The ultimate value of stock-based awards under our Incentive Compensation Plan is directly correlated to our performance as measured by the price of our common stock
        over the long term. The value of these awards increases and decreases directly with changes in the price of our common stock. In addition, unlike base salary and incentive compensation awards, which are earned and paid based on the annual
        performance of the individual and the company, PRSUs awarded in 2019 vest over a period of three years. As a result, these awards encourage executives to continue their employment with Loews. These elements further serve to align the executive&#8217;s
        interests with those of our shareholders.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Compensation Committee generally makes grants of stock-based awards in the first quarter of each year at the same time the Committee performs its annual management performance
        evaluation and takes other compensation actions. Annual equity grants for executive officers occur on the same date as our annual equity grants for our other officers and certain professional and managerial employees, which in 2019 was the date of
        the Compensation Committee&#8217;s February 2019 meeting. As the grant date for our annual stock-based awards generally occurs on the date of a Compensation Committee meeting in the first quarter of the year, the grant date is set in advance when the
        schedule of Compensation Committee meetings is arranged. Loews does not grant stock-based awards in anticipation of the release of non-public information or time the release of this information based on stock-based award grant dates. We also at
        times grant stock-based awards to new executives when they are hired or promoted during the year. These grants are approved by the Compensation Committee (or, in the case of smaller grants, by our Chief Executive Officer, as delegated by the
        Committee).</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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                                <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                                </td>
                                <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">31<br>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt;">
        <div style="margin-bottom: 8pt; font-family: 'Times New Roman';">
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                  <div>
                    <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                  </div>
                </td>
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      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">EMPLOYEE BENEFITS</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our named executive officers also participate in benefit programs available to salaried employees generally, including retirement programs. For 2019, these retirement
        programs included our Employee Savings Plan under Section 401(k) of the Internal Revenue Code, Qualified Retirement Plan, Benefit Equalization Plan and Executive Deferred Compensation Plan. In addition, from time to time, we have provided one or
        more named executive officers with unfunded supplemental retirement benefits under the supplemental retirement agreements described under &#8220;Pension Plans&#8221; on page 49. No supplemental retirement benefits were granted in 2019. Our Qualified Retirement
        Plan, Benefit Equalization Plan and Executive Deferred Compensation Plan were frozen as of December 31, 2019. To offset the effect of the freezing of these plans, effective January 1, 2020, we adopted a new Deferred Investment Plan to replace the
        frozen Executive Deferred Compensation Plan, and will make contributions under that plan and increase our contributions under our Employee Savings Plan. Additional information regarding our retirement programs is available under &#8220;Pension Plans&#8221; on
        page 49 and &#8220;Deferred Compensation&#8221; on page 50.</div>
      <div style="margin-top: 24pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="A2019CompensationtoOurNam"><!--Anchor--></a>2019 Compensation to Our Named Executive Officers</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">BASE SALARY</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The base salary of each of our named executive officers was unchanged from previous years and remained at $975,000, consistent with our objectives of emphasizing
        performance-based compensation.</div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">CASH INCENTIVE COMPENSATION AWARDS</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">For 2019, the Compensation Committee made cash incentive compensation awards to our Chief Executive Officer and each of our other named executive officers, which were
        paid in the first quarter of 2020. In determining the amounts to be paid to these executives, the Committee acted consistently within the parameters of the grants that were established in the first quarter of 2019, including the size of the
        performance bonus pool for the year. However, the Committee also exercised its business judgment, using essentially a qualitative, rather than formula-driven, approach based on the Committee&#8217;s overall judgment of the individual&#8217;s performance in the
        context of our financial performance and seeking to achieve the objectives of our compensation philosophy. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition to the specific factors discussed below, the Compensation Committee considered:</div>
      <div style="margin-bottom: 4pt;">
        <div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Wingdings 2',serif; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">its compensation philosophy in favor of fair and consistent pay levels and against excessive or unreasonable compensation levels;</div>
                </td>
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      <div style="margin-bottom: 4pt;">
        <div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Wingdings 2',serif; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">an emphasis on consistent, long-term, superior performance by the individual;</div>
                </td>
              </tr>

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      </div>
      <div style="margin-bottom: 4pt;">
        <div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Wingdings 2',serif; font-size: 10pt;"><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none;">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">its evaluation of the performance of each named executive officer based on direct observation, since each named executive officer regularly reports to the Board on the
                    operations of the company and its subsidiaries; and</div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">for each named executive officer other than the Chief Executive Officer, executive sessions with the Chief Executive Officer in which each named executive officer&#8217;s performance
                    is reviewed and evaluated.</div>
                </td>
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        </div>
      </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">These factors were not weighted and there is no formula for how these factors were applied in determining cash incentive compensation awards.</div>
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                            <td style="width: 50%; font-weight: bold; font-size: 8pt;">32<br>
                            </td>
                            <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                              <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                            </td>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
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      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z096d5d5b588c42658071641567927429">

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            <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(237, 237, 237);">&#160;</td>
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              <div style="color: rgb(41, 98, 174); font-size: 8.5pt; font-weight: bold;">Chief Executive Officer</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In making its determination regarding the grant and payment of an incentive compensation award for 2019 to our Chief Executive Officer, James S. Tisch, the
                Compensation Committee first considered the overall performance of the company and its principal subsidiaries. The Committee also considered, among other things, its compensation philosophy against excessive or unreasonable compensation
                levels and its emphasis on consistent, long-term, superior performance by the individual.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Based on these considerations, at the beginning of 2019, the Compensation Committee modestly increased Mr. Tisch&#8217;s target bonus level, but did not increase his
                maximum bonus level for 2019. The Committee also retained negative discretion to reduce any award to what it determines is a reasonable level under the circumstances.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The Compensation Committee evaluated Mr. Tisch&#8217;s performance in 2019 and during recent prior years, considering the overall state of the markets in which Loews
                and its subsidiaries operate and the financial markets generally. This is consistent with the Committee&#8217;s philosophy of evaluating performance over the longer term to encourage and reward long-term value creation and to discourage
                unreasonable risk-taking. The Committee considered Mr. Tisch&#8217;s ability to demonstrate leadership, maintain stability and encourage prudent growth, cost-cutting initiatives and other strategies at Loews and our subsidiaries, and to prudently
                allocate the company&#8217;s capital to take advantage of market opportunities and protect against known risks.</div>
              <div style="margin-bottom: 4pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">The Compensation Committee noted the following accomplishments under Mr. Tisch&#8217;s leadership:</div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: 'Wingdings 2',serif; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';">&#9726;</font> </font>Loews&#8217;s book value per share (excluding accumulated other comprehensive income) increased approximately 25% during the past five years;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(41, 98, 174);">&#9726;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160; the
                  company repurchased more than 21.5 million shares, or 6.9%, of its common stock in 2019 and has repurchased more than 83.3 million shares, or 22.3%, of its common stock over the past five years, while consistently maintaining a very
                  strong liquidity position; and</font></div>
              <div style="margin-bottom: 8pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: 'Wingdings 2',serif; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';">&#9726;</font> </font></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">the leadership teams at Loews&#8217;s principal operating subsidiaries remained focused and motivated to drive the most value from their
                  respective companies, helped in part by the leadership of the company&#8217;s Chief Executive Officer and our other named executive officers.</font></div>
              <div style="margin-bottom: 4pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">As a result of these efforts, the underlying businesses of Loews&#8217;s subsidiaries have remained strong, even in certain challenging operating
                environments. For example:</div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: rgb(41, 98, 174);">&#9726;</font>&#160;&#160; CNA has maintained an extremely strong capital position,
                  which has allowed it to pay substantial dividends to its shareholders, including the company, in recent years;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: rgb(41, 98, 174);">&#9726;</font>&#160;&#160; Diamond Offshore has been able to obtain new contracts
                  despite the difficult environment presented by the protracted industry downturn;</font></div>
              <div style="margin-bottom: 4pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: 'Wingdings 2',serif; color: rgb(41, 98, 174);"><font style="font-family: 'Times New Roman';">&#9726;</font> </font>Boardwalk Pipelines has made important progress re-contracting expiring contracts, increased its operating results and decreased its leverage;</font></div>
              <div style="margin-bottom: 8pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: rgb(41, 98, 174);">&#9726;</font>&#160;&#160; Loews Hotels has continued to execute its long-term
                  growth strategy and improve the operations of its portfolio of hotels and resorts; and</font></div>
              <div style="margin-bottom: 8pt; text-indent: -9pt; margin-left: 9pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(41, 98, 174);">&#9726;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160; Altium
                  Packaging has grown through accretive acquisitions, diversifying its product mix.</font></div>
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              <td rowspan="1" style="width: 96%;">&#160;</td>
              <td colspan="1" rowspan="1" style="width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
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                <div>&#160;</div>
              </td>
              <td colspan="1" style="width: 1%;">&#160;</td>
              <td style="width: 96%;">
                <div>
                  <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8.5pt; text-align: left;"><font style="font-weight: bold; color: rgb(41, 98, 174);">Incentive Compensation Determination:</font><font style="color: rgb(41, 98, 174);">&#160;</font>The
                    Compensation Committee determined in the first quarter of 2020, based upon his leadership and accomplishments discussed above, to award Mr.&#160;Tisch incentive compensation for 2019 equal to his target award, which is a modest increase from
                    last year. This award is approximately 39.3% of the amount allocated to him from the performance bonus pool based on the level of performance-based income for the year.</div>
                </div>
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              <td colspan="1" style="width: 1%;">&#160;</td>
              <td style="background-color: rgb(237, 237, 237); width: 1%;">
                <div>&#160;</div>
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              <td colspan="1" rowspan="1" style="width: 1%;">&#160;</td>
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              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 96%;">&#160;</td>
              <td colspan="1" rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
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                                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                                    <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                                  </td>
                                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">33<br>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
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                  <div>
                    <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                  </div>
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            <td style="width: 100%; vertical-align: top; background-color: rgb(237, 237, 237);">
              <div style="margin-bottom: 8pt; color: rgb(41, 98, 174); font-weight: bold;">Other Named Executive Officers (NEOs)</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Similar to our Chief Executive Officer, each of our other named executive officers was granted a cash incentive compensation award in the first quarter of 2019
                that was paid in the first quarter of 2020.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Consistent with the Compensation Committee&#8217;s philosophy of targeting overall compensation that does not fluctuate substantially year over year, the target
                levels for the awards for our other named executive officers, in the aggregate, did not change significantly compared to last year, and the maximum level for each other named executive officer was unchanged.</div>
              <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In making its determination regarding the payment of these awards to these executives, the Compensation Committee considered many of the same factors described
                above that it considered for our Chief Executive Officer. Based on its evaluation of each executive&#8217;s performance, including the input and recommendation of the Chief Executive Officer, the Committee, in the first quarter of 2020, awarded
                each of these other named executive officers incentive compensation equal to their target amount for 2019.</div>
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              <td colspan="1" rowspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(255, 255, 255); width: 96%;">&#160;</td>
              <td colspan="1" rowspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
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              <td style="background-color: rgb(237, 237, 237); width: 1%;">
                <div>&#160;</div>
              </td>
              <td colspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td style="background-color: rgb(255, 255, 255); width: 96%;">
                <div style="text-align: left; font-size: 8.5pt;"><font style="font-weight: bold; color: rgb(41, 98, 174);">Incentive Compensation Determination:</font><font style="color: rgb(41, 98, 174);">&#160;</font>These incentive compensation awards
                  amounted to approximately 39.3% of the total amount available in the performance bonus pool for each of the other named executive officers and are consistent with the Committee&#8217;s philosophy in favor of rewarding consistent, long-term
                  superior performance, but against excessive or unreasonable compensation.</div>
              </td>
              <td colspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td style="background-color: rgb(237, 237, 237); width: 1%;">
                <div>&#160;</div>
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              <td colspan="1" rowspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(255, 255, 255); width: 96%;">&#160;</td>
              <td colspan="1" rowspan="1" style="background-color: rgb(255, 255, 255); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
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              <td colspan="1" rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 96%;">&#160;</td>
              <td colspan="1" rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
              <td rowspan="1" style="background-color: rgb(237, 237, 237); width: 1%;">&#160;</td>
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      <div style="margin-top: 5pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">PERFORMANCE-BASED STOCK-BASED AWARDS</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In making its determinations regarding the award of PRSUs in 2019 to our named executive officers, the Compensation Committee considered the same factors described
        above on page 32 under &#8220;Cash Incentive Compensation Awards&#8221; as well as the level of stock-based awards previously awarded to these individuals. These factors are not weighted and there is no formula for how these factors were applied in determining
        the number of PRSUs granted.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z6938b2c44432499f82acfa3e70f335d8">

          <tr>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(237, 237, 237);">&#160;</td>
            <td style="width: 100%; vertical-align: bottom; background-color: rgb(237, 237, 237);">
              <div style="margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">PRSU Determination:</font> Based on all factors reviewed, in the first
                quarter of 2019, the Committee awarded 18,795 PRSUs, representing a grant date value of $900,000, to each member of our Office of the President and 14,827 PRSUs, representing a grant date fair value of $710,000, to each of our other named
                executive officers. The grant date fair value for these awards for 2019 was unchanged from the grant date fair value of the PRSU awards made to our executive officers for 2018. For 2019, performance-based income amounted to $3.75 per share,
                resulting in 100% of these PRSUs being earned by each of our named executive officers in the first quarter of 2020; however, these PRSUs still remain subject to their time-vesting provisions, with 50% of these PRSUs vesting in 2021 and 50%
                vesting in 2022.</div>
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                              <td style="width: 50%; font-weight: bold; font-size: 8pt;">34<br>
                              </td>
                              <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                                <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                              </td>
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                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="OtherConsiderations"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
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                  <div>
                    <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation</div>
                  </div>
                </td>
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          <div> <br>
          </div>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Other Considerations</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">Compensation Program as it Relates to Risk.</font> Management and the
        Compensation Committee review our compensation policies and practices to ensure they do not encourage excessive risk taking. This review includes the cash and equity incentive programs, which are discussed in detail above under &#8220;Compensation
        Program Structure and Process&#8221; beginning on page 25. Based on this review, we do not believe that our compensation program encourages excessive risk taking, due to, among many considerations, the following plan design elements:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z9d716853e6fc439688120fa9217d3e73">

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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Our programs appropriately balance the three primary components of our executives&#8217; compensation: base salary, cash incentive compensation and equity-based incentive
                    compensation.</div>
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      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3e8f5cda51f34b6c9053d498666f1706">

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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Compensation Committee establishes reasonable, but achievable, performance targets for cash and equity-based incentive compensation in order to motivate our executives to
                    create value for our shareholders over the long term while exercising prudent risk management.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zd4b491adb0704c85823e4deb60f4a7c9">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Awards of cash and equity-based incentive compensation are capped, and the Compensation Committee has the authority to exercise negative discretion with respect to payouts of
                    cash incentive compensation, limiting excessive rewards for short-term results.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zb03c6f4d22fe4cea96b5fce9ceee156b">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Each member of our Office of the President owns, and has owned for many years, a significant amount of our common stock, which strongly aligns their interests with those of our
                    shareholders and encourages a focus on long-term results.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z0316b51490c647df9350c7f52da029d4">

              <tr>
                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Our clawback policy, described below, allows for the recoupment of incentive compensation payments and awards if an executive officer&#8217;s conduct leads to a restatement of our
                    financial results, which mitigates risk.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">Clawback Policy.</font> We have adopted a policy that allows for the
        recoupment of incentive compensation (cash and equity-based) paid or awarded to an executive officer if we are required to restate our financial statements due to material noncompliance with federal securities laws if that officer&#8217;s intentional or
        unlawful misconduct materially contributed to the need for such restatement. In such case, for any period affected by the restatement, the executive&#8217;s incentive compensation will be subject to recoupment to the extent the amounts paid or awarded
        were greater than the amounts that would have been paid or awarded if they had been calculated on the basis of the restated financial results.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">Anti-Hedging and Pledging Policy.</font> We have adopted a policy that
        prohibits directors and executive officers from entering into hedging transactions in our common stock. For purposes of this policy, a hedging transaction is the entry into, or purchase or sale of, any financial instrument (including prepaid
        variable forward contracts, equity swaps and collars), or the entry into of any other transaction, in each case for the express purpose of offsetting a potential decline in the market value of our common stock. For the avoidance of doubt, financial
        instruments and transactions subject to this policy do not include transactions in securities (or derivative instruments relating thereto) of any open-end mutual fund, unit investment trust or exchange-traded fund, or of any company that is not
        affiliated with us.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, directors and executive officers are prohibited from pledging our common stock, options relating to our common stock or any other security linked to our
        common stock as collateral for a loan unless the director or executive officer has the ability to repay the loan without liquidating the pledged stock and the loan is fully recourse to the director or executive officer.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">Employment Agreements.</font> We have no employment or other agreements
        relating to severance or payment upon a change of control with any of our named executive officers or other executive officers.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 9pt; color: rgb(41, 98, 174); font-weight: bold;">Share Ownership by Executive Officers.</font> As disclosed above under &#8220;Director and Officer
        Holdings&#8221; on page 19, each member of our Office of the President owns, and has owned for many years, a significant amount of our common stock, which strongly aligns their interests with those of our other shareholders.</div>
      <div><br>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div style="font-family: 'Times New Roman'; font-size: 10pt;">
                  <div>
                    <div>
                      <div style="margin-bottom: 8pt;">
                        <div>
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                                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                                    </td>
                                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">35<br>
                                    </td>
                                  </tr>

                              </table>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="CompensationCommitteeRepo"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0); font-weight: 400;">
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

              <tr>
                <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                  <div>
                    <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                      <div>
                        <div style="font-weight: bold;">Compensation Committee Report on Executive Compensation</div>
                      </div>
                    </div>
                  </div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
        </div>
      </div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Compensation Committee Report on Executive Compensation</div>
      <div style="margin-top: 8pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In fulfilling its responsibilities, the Compensation Committee has reviewed and discussed the Compensation Discussion and Analysis with Loews&#8217;s
        management. Based on this review and discussion, the Compensation Committee recommended to the Board that the Compensation Discussion and Analysis be included in this Proxy Statement.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">By the Compensation Committee:</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Joseph L. Bower, Chairman</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Charles D. Davidson</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Charles M. Diker</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Paul J. Fribourg</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Susan P. Peters</div>
      <div style="margin-top: 24pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CompensationCommitteeInte"><!--Anchor--></a>Compensation Committee Interlocks and Insider Participation</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">None of the members of our Compensation Committee has ever been an officer or employee of Loews, or is a participant in a transaction disclosed, or required to be disclosed, under the
        heading &#8220;Transactions with Related Persons,&#8221; on page 17. None of our executive officers serves as a member of the compensation committee or board of directors of any entity that has an executive officer serving on our Compensation Committee or as a
        director of the company.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
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                                <td style="width: 50%; font-weight: bold; font-size: 8pt;">36<br>
                                </td>
                                <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                                  <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                                </td>
                              </tr>

                          </table>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="A2019Executiv"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0); font-weight: 400;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div>
                    <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">2019 Executive</div>
      <div style="margin-top: 0px; margin-bottom: 10pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Compensation Tables</div>
      <div style="margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="A2019SummaryCompensationT"><!--Anchor--></a>2019 Summary Compensation Table</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information for the years indicated regarding the compensation of our named executive officers for services in all capacities to us and our
        subsidiaries.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z3405ea0dc0ef450291b1b3aecbafa2b4">

          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Year</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Salary</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 1%;">
              <div style="color: rgb(41, 98, 174); font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              <div style="color: rgb(41, 98, 174); font-size: 6pt;">&#160;&#160; <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><br>
                </sup></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 1%;">
              <div style="color: rgb(41, 98, 174); font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
              <div style="color: rgb(41, 98, 174); font-size: 5pt;"><font style="font-size: 6pt;">&#160;&#160;&#160; </font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><br>
                </sup></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Non-Equity</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Compensation</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 1%;">
              <div style="color: rgb(41, 98, 174); font-size: 6pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(</sup>
                <div style="color: rgb(41, 98, 174); font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                <div style="color: rgb(41, 98, 174); font-size: 5pt;"><font style="font-size: 6pt;">&#160; </font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160; </sup></div>
              </div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Change</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">in Pension</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Value and Nonqualified Deferred Compensation Earnings</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 1.96%;">
              <div style="color: rgb(41, 98, 174); font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
              <div style="color: rgb(41, 98, 174); font-size: 5pt;"><font style="font-size: 6pt;">&#160; <br>
                </font></div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">All Other</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Compensation</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 3.92%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">SEC Total</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">SEC Total</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Without</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Change in Pension</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Value</div>
            </td>
            <td style="vertical-align: bottom; width: 1.96%; padding-bottom: 2px;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup>
                <div style="color: rgb(41, 98, 174); font-size: 7pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
                <div style="color: rgb(41, 98, 174); font-size: 5pt;"><font style="font-size: 6pt;">&#160; <br>
                  </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td colspan="14" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
              <div style="font-size: 8.5pt;">President and Chief Executive Officer, Office of the President</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2019</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$15,001</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,825,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,574,257</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$23,614</div>
            </td>
            <td style="width: 3.92%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)(7)</sup></div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9,312,872</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$5,738,615</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2018</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">75,008</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,725,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39,561</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,714,569</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,714,569</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9%;">
              <div style="font-size: 8.5pt;">2017</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">168,332</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">3,600,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">792,894</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1.96%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">91,547</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 3.92%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">6,527,773</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">5,734,879</div>
            </td>
            <td style="vertical-align: bottom; width: 1.96%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td colspan="14" style="vertical-align: bottom;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
              <div style="font-size: 8.5pt;">Senior Vice President and Chief Financial Officer</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2019</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,625,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">610,744</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,200</div>
            </td>
            <td style="width: 3.92%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,936,944</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,326,200</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2018</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,525,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">299,784</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,000</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,525,784</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,226,000</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9%;">
              <div style="font-size: 8.5pt;">2017</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">3,400,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">473,923</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 1.96%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">24,350</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 3.92%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">5,583,273</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">5,109,350</div>
            </td>
            <td style="vertical-align: bottom; width: 1.96%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td colspan="14" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
              <div style="font-size: 8.5pt;">Co-Chairman of the Board, Chairman of the Executive Committee, Office of the President</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2019</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,001</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,725,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,663,868</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">26,958</div>
            </td>
            <td style="width: 3.92%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)(7)</sup></div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,305,827</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,641,959</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2018</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">29,153</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,525,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37,436</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,466,589</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,466,589</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2017</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,444</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">488,906</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">97,935</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,384,285</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,895,379</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td colspan="14" style="border-bottom: 1px solid #000000; vertical-align: bottom;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
              <div style="font-size: 8.5pt;">Co-Chairman of the Board, Chairman and Chief Executive Officer of Loews Hotels, Office of the President</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9%;">
              <div style="font-size: 8.5pt;">2019</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">3,100,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">2,970,145</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1.96%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">43,643</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 3.92%;">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)(7)</sup></div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">7,988,788</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">5,018,643</div>
            </td>
            <td style="vertical-align: bottom; width: 1.96%; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9%;">
              <div style="font-size: 8.5pt;">2018</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">3,000,000</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1.96%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.8%;">
              <div style="text-align: right; font-size: 8.5pt;">40,214</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 3.92%;">&#160;</td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">4,915,214</div>
            </td>
            <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.46%;">
              <div style="text-align: right; font-size: 8.5pt;">4,915,214</div>
            </td>
            <td style="vertical-align: bottom; width: 1.96%; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2017</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,900,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">712,317</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">56,017</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,543,334</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,831,017</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td colspan="14" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
              <div style="font-size: 8.5pt;">Senior Vice President</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2019</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,001</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,450,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">353,762</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,200</div>
            </td>
            <td style="width: 3.92%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,519,963</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,166,201</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2018</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">29,153</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,250,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">249,413</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16,000</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,229,566</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,980,153</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">2017</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">975,000</div>
            </td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,444</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,075,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">303,955</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.8%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">24,350</div>
            </td>
            <td style="width: 3.92%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,110,749</div>
            </td>
            <td style="width: 10.46%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,806,794</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom; padding-bottom: 1px;">&#160;</td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z260ee2a095a04e768f9c487bfc8e34cf" style="width: 100%; font-family: Arial; font-size: 9pt;">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 18pt;">
                      <div style="font-size: 8pt;">(1)</div>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="font-size: 8pt;">These amounts represent the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 of PRSUs granted pursuant to our Incentive Compensation Plan.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3896474205c9492e93b096414d5bf847">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 of awards of SARs granted pursuant to Diamond Offshore&#8217;s stock option plan as compensation for service
                    by James S. Tisch, as chairman of the board, and by Andrew H. Tisch and Kenneth I. Siegel, as directors, of Diamond Offshore. The aggregate grant date fair value of these awards was estimated using the Black-Scholes pricing model
                    assuming, with respect to the awards granted in 2019, 2018 and 2017: (a) an expected life of seven years for each award year; (b) an <br>
                  </div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                <tr>
                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                    <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                  </td>
                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">37<br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
            <div style="page-break-after: always;" id="DSPFPageBreak">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
            <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
          </div>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                <tr>
                  <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                    <div>
                      <div>
                        <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                      </div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <div><font style="font-size: 8pt;"> <br>
            </font></div>
          <div style="margin: 0px 0px 2px 18pt;"> <font style="font-size: 8pt;">expected volatility of 39.35%, 32.1% and 31.70%, respectively; (c) a dividend yield of 0% for each award year; and (d) a risk-free interest rate of 2.11%, 2.56% and 2.09%,
              respectively. Expected life and volatility of awards is based on historical data. The dividend yield is based on the current regular dividend rate in effect and the current market price at the time of grant. Risk-free interest rates are
              determined using the U.S. Treasury yield curve at the time of grant with a term equal to the expected life of the awards. This information has been provided by Diamond Offshore.</font></div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zbb0283d7084440768f3fb3c2058f067f">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent awards under our Incentive Compensation Plan for the years indicated, which were paid to the named executive officers in February of the following years.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3806849b204e47fd8adbb050705adb52">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(4)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent the actuarial increase, if any, in the present value of retirement benefits of each named executive officer under our retirement plans and, with respect to James S. Tisch, Andrew H.
                    Tisch and Jonathan M. Tisch, supplemental retirement agreements as of December 31, 2019, 2018 and 2017 over the value of those benefits as of December 31, 2018, 2017 and 2016, respectively, all as determined using the same interest rate
                    and other assumptions as those used in our financial statements in those respective years. The changes from year to year primarily represent changes in actuarial pension assumptions and, to a lesser extent, increases in service, age and
                    compensation. For an estimate of the pension benefits accrued for and which may become payable to the named executive officers and the assumptions used in calculating those amounts, please see the 2019 Pension Benefits table on page 49
                    of this Proxy Statement.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zccce2546b0824b4ea81e5e88602b8091">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(5)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">We have included this column to show how year over year changes in pension value impact total compensation as determined under SEC rules. The amounts reported in this column are calculated by subtracting the
                    amounts reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column from the amounts reported in the table&#8217;s SEC Total column. The amounts reported in this column in some cases differ substantially
                    from, and are not a substitute for, the amounts reported in the table&#8217;s SEC Total column.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z825e3dcb58f94199a61814add49e30f9">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(6)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes the portion of the expense of a car and driver we provide to each member of our Office of the President attributable to personal use during 2019, as follows: (a) $7,414 for James S. Tisch; (b) $10,758
                    for Andrew H. Tisch; and (c) $27,443 for Jonathan M. Tisch. These amounts represent approximately 5%, 12% and 24% of our annual costs associated with the car and driver provided for James S. Tisch, Andrew H. Tisch and Jonathan M. Tisch,
                    respectively, in 2019.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z53f2aff72d404a2ca92a8632050eb850">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(7)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes: (a) $11,200, representing our contributions under our Employee Savings Plan for 2019; and (b) $5,000, representing additional cash compensation paid or applied to the cost of benefit choices under
                    our flexible benefits plan, which may include, among other things, premiums on medical, dental, vision, life and disability insurance policies, for 2019.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 6pt; color: rgb(127, 127, 127); font-size: 10pt; font-weight: bold;">NARRATIVE DISCUSSION OF SUMMARY COMPENSATION TABLE</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">For more information about the components of compensation reported in the Summary Compensation Table or any of the tables in &#8220;Compensation Plans&#8221; starting on page 39, including
        performance-based conditions and vesting schedule, please read the &#8220;Compensation Discussion and Analysis&#8221; beginning on page 22.<br>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 50%; font-weight: bold; font-size: 8pt;">38<br>
              </td>
              <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
              </td>
            </tr>

        </table>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CompensationPlans"><!--Anchor--></a></div>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div>
                    <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Compensation Plans</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding awards granted to each of our named executive officers under our Incentive Compensation Plan during 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 GRANTS OF PLAN-BASED AWARDS</div>
      <font style="font-weight: bold;"> </font>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">(LOEWS)</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zaffd2c3756674ff7b058a62d926db13e">

          <tr>
            <td rowspan="2" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 17.33%;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Grant Date</div>
            </td>
            <td rowspan="2" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td nowrap="nowrap" colspan="2" style="border-bottom: 1px solid rgb(41, 98, 174); vertical-align: bottom; width: 25.33%; padding-top: 0px;">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Estimated Future Payouts Under</div>
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Non-Equity Incentive Plan Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="vertical-align: bottom; width: 2.67%; padding-top: 0px; padding-bottom: 1px;">&#160;</td>
            <td colspan="3" style="border-bottom: 1px solid rgb(41, 98, 174); vertical-align: bottom; width: 28%;">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Estimated Future Payouts Under</div>
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive Plan Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
            </td>
            <td style="vertical-align: bottom; width: 2.67%; padding-top: 0px; padding-bottom: 1px;">&#160;</td>
            <td rowspan="2" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 10.67%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Closing</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Price</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">on Date of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Grant</div>
            </td>
            <td rowspan="2" style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 10.67%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Grant Date</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Fair Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock and</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Target</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Maximum</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.33%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Threshold</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.33%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Target</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 9.33%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Maximum</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 2.67%;">&#160;</td>
          </tr>
          <tr>
            <td colspan="11" style="width: 100%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9,397.5</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$44.56</div>
            </td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$900,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,825,000</div>
            </td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$5,000,000</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td colspan="11" style="width: 100%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,413.5</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.56</div>
            </td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 17.33%;">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">3,625,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">4,750,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
          </tr>
          <tr>
            <td colspan="11" style="width: 100%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9,397.5</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.56</div>
            </td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 17.33%;">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">2,725,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">4,000,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
          </tr>
          <tr>
            <td colspan="11" style="width: 100%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9,397.5</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.56</div>
            </td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">900,000</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 17.33%;">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">3,100,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.67%;">
              <div style="text-align: right; font-size: 8.5pt;">4,500,000</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 9.33%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 2.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; width: 10.67%;">&#160;</td>
          </tr>
          <tr>
            <td colspan="11" style="width: 100%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,413.5</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.56</div>
            </td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">710,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 17.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">02/11/19</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,450,000</div>
            </td>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,500,000</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z3e77b2e1bb324a30a7f6706b0136c8f0">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent target and maximum awards established under our Incentive Compensation Plan. The actual amount of each award authorized for payment by our Compensation Committee in February 2020 is
                    included in the 2019 Summary Compensation Table above under the heading &#8220;Non-Equity Incentive Plan Compensation.&#8221; Cash awards under our Incentive Compensation Plan are not subject to thresholds, but instead consist of an amount equal to
                    a proportion of that percentage of our performance-based income established by our Compensation Committee as our annual performance goal, subject to the target and maximum amounts set forth on the table above. Please read our
                    &#8220;Compensation Discussion and Analysis&#8221; under the heading &#8220;Compensation Program Structure and Process &#8212; Cash Incentive Compensation Awards,&#8221; on page 26, for more information concerning awards under our Incentive Compensation Plan.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z060f9b29bb584e74b350cecd9532bcea">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent threshold, target and maximum awards of PRSUs granted under our Incentive Compensation Plan. The actual grant date fair value computed in accordance with FASB ASC Topic 718 of each
                    award authorized for issuance by our Compensation Committee in February 2019 is included in the Summary Compensation Table above under the heading &#8220;Stock Awards.&#8221; Please read our &#8220;Compensation Discussion and Analysis&#8221; under the heading
                    &#8220;Compensation Program Structure and Process &#8212; Performance-Based Stock-Based Awards,&#8221; on page 30, for more information concerning awards under our Incentive Compensation Plan.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">39<br>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin-top: 4px; margin-bottom: 4px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div>
                    <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information provided by Diamond Offshore regarding grants to James S. Tisch, Andrew H. Tisch and Kenneth I. Siegel under
        Diamond Offshore&#8217;s stock option plan during 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 GRANTS OF PLAN-BASED AWARDS</div>
      <font style="font-weight: bold;"> </font>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">(DIAMOND OFFSHORE)</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z20d5f2957627488094e33b24484d15ae">

          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Grant Date</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Action Date</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">All Other Option/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Awards: Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities Underlying Options/SARs</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174); font-size: 8pt;">
              <div>
                <div style="color: rgb(41, 98, 174);"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </div>
              <div><font style="font-size: 6pt;">&#160; </font><font style="font-size: 6pt;"></font><br>
              </div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise or Base Price</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">of Option/SAR Awards</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)<br>
                  <font style="font-size: 6pt;"> &#160;&#160;&#160; </font><br>
                </sup></div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Closing Market Price</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">on Date of Grant</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
              <div style="color: rgb(41, 98, 174); font-size: 5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-size: 6pt;">&#160;&#160; </font><br>
                </sup></div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Grant Date Fair</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Value of Stock and Option/SAR Awards</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">01/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.44</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,723</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">04/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11.24</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,034</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">07/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.03</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,105</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">10/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.22</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,139</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">01/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.44</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,723</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">04/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11.24</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,034</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">07/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.03</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,105</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">10/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.22</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,139</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">01/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$9.44</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$3,723</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">04/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11.24</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,034</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">07/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.03</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,105</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">10/01/19</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/26/18</div>
            </td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 18.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.22</div>
            </td>
            <td style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">3,139</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zdfe43d4758f645f19072e367b2b80ae8">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">These amounts represent awards of SARs granted to Kenneth I. Siegel, Andrew H. Tisch and James S. Tisch by Diamond Offshore under its stock option plan. In October 2018 Diamond Offshore&#8217;s board of directors
                    established an annual award to its non-management directors, which was granted in four increments over the course of 2019. Each SAR reported above vested and became exercisable with respect to 100% of its underlying securities on the
                    date it was granted.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z76a9d2ebe1ac4fe68efec7221ed5e3fd">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">The exercise prices were calculated in accordance with Diamond Offshore&#8217;s stock option plan by averaging the high and low sales prices of Diamond Offshore&#8217;s common stock as traded on The New York Stock
                    Exchange on the business day immediately preceding the grant date.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zdf90306de5b44f85a4d4e16785431640">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">If the New York Stock Exchange was not open for trading on any grant date, the price in this column for that grant date reflects the closing market price on the last trading day prior to that grant date.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                <tr>
                  <td style="width: 50%; font-weight: bold; font-size: 8pt;">40<br>
                  </td>
                  <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                    <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin-top: 0px; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div>
                    <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0px; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding SARs granted to each of our named executive officers under our Stock Option Plan and PRSUs granted to
        each of our named executive officers under our Incentive Compensation Plan that were outstanding as of December 31, 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END</div>
      <font style="font-weight: bold;"> </font>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">(LOEWS COMMON STOCK)</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z94ace6e9e4dc4b5aa0df5ee855d01a27">

          <tr>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock Awards <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs Unexercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;"> Expiration Date</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">or Units of Stock </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Value of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Shares or Units of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payout Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.92</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.26</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">33.12</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.82</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.81</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42.02</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.04</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.86</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.41</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.80</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.93</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.89</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.44</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.99</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.58</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.37</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.83</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.98</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.61</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">38.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.52</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">28,917</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,517,858</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$986,550</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z61411e44763646829fdb871710477e53">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR award reported above vests and becomes exercisable with respect to 25% of its underlying securities per year over the first four years of its term, and commenced vesting nine years prior to the
                    expiration date reported for such SAR award.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z2eeb060187104057a8d473ba6a194d32">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">PRSU awards vest 50% on the second anniversary and 50% on the third anniversary of their grant date. PRSUs granted on February 13, 2017 and February 12, 2018 are no longer subject to a performance condition
                    and are therefore reported in the first two columns under Stock Awards. PRSUs granted on February 11, 2019 are subject to a performance condition and are therefore reported in the last two columns under Stock Awards.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                        <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">41<br>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div style="font-weight: bold;">Executive Compensation Tables</div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z2e9f1b5b7e0b4f249d68e9efcba07316">

          <tr>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock Awards <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs Unexercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">or Units of Stock </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Value of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Shares or Units of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payout Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.81</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42.02</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.04</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.86</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.41</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.80</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.93</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.89</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.44</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.99</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.58</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.37</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.83</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.98</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.61</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">38.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.52</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,811</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,197,363</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$778,269</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z19832cddea084109a2819bccf7e1b4bf">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR award reported above vests and becomes exercisable with respect to 25% of its underlying securities per year over the first four years of its term, and commenced vesting nine years prior to the
                    expiration date reported for such SAR award.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z7e2a638c17454937a2c9a8b61a70e48b">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">PRSU awards vest 50% on the second anniversary and 50% on the third anniversary of their grant date. PRSUs granted on February 13, 2017 and February 12, 2018 are no longer subject to a performance condition
                    and are therefore reported in the first two columns under Stock Awards. PRSUs granted on February 11, 2019 are subject to a performance condition and are therefore reported in the last two columns under Stock Awards.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                  <tr>
                    <td style="width: 50%; font-weight: bold; font-size: 8pt;">42<br>
                    </td>
                    <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                      <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div style="font-weight: bold;">Executive Compensation Tables</div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zf7176c8357f14ad88abd91d2fa9206fb">

          <tr>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock Awards <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;"> Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;"> Exercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs Unexercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
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            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">or Units of Stock </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
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            <td style="width: 12.26%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Value of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Shares or Units of </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Stock that Have Not </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
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            <td style="width: 12.24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Not Vested</div>
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            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payout Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.92</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.26</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">33.12</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.82</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.81</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42.02</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.04</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.86</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.41</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.80</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.93</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.89</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.44</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.99</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.58</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.37</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.83</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.98</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.61</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">38.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">35.52</div>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td style="width: 12%; vertical-align: bottom;">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom;">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom;">&#160;</td>
            <td style="width: 13%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">28,917</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,517,858</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$986,550</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z34447effe7624adf8c81a0704a1f7a1a">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR award reported above vests and becomes exercisable with respect to 25% of its underlying securities per year over the first four years of its term, and commenced vesting nine years prior to the
                    expiration date reported for such SAR award.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z8702653288a340268fe791d392ef8394">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">PRSU awards vest 50% on the second anniversary and 50% on the third anniversary of their grant date. PRSUs granted on February 13, 2017 and February 12, 2018 are no longer subject to a performance condition
                    and are therefore reported in the first two columns under Stock Awards. PRSUs granted on February 11, 2019 are subject to a performance condition and are therefore reported in the last two columns under Stock Awards.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <div>
                <div>
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                      <tr>
                        <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                          <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                        </td>
                        <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">43<br>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">
                    <div>
                      <div style="text-align: left; font-weight: bold;">Executive Compensation Tables</div>
                    </div>
                  </div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z7f2970a422cf495aac8e16fb770578cb">

          <tr>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock Awards <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs Unexercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares or Units of Stock that Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Value of Shares or Units of Stock that Have Not Vested</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payout Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
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          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.92</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.26</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">33.12</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.82</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/12/20</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.81</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42.02</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.04</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/11/21</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.86</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.41</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">39.80</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.14</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/10/22</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.93</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.89</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.44</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.99</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.58</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.37</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.83</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.98</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.61</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">38.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">15,000</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">35.52</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">28,917</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,517,858</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18,795</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$986,550</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="za3543d8eb1344e45a8ceae4f4a70bee0">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR award reported above vests and becomes exercisable with respect to 25% of its underlying securities per year over the first four years of its term, and commenced vesting nine years prior to the
                    expiration date reported for such SAR award.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z0aa04bb14aad4e658d7f222f81a2ff11">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">PRSU awards vest 50% on the second anniversary and 50% on the third anniversary of their grant date. PRSUs granted on February 13, 2017 and February 12, 2018 are no longer subject to a performance condition
                    and are therefore reported in the first two columns under Stock Awards. PRSUs granted on February 11, 2019 are subject to a performance condition and are therefore reported in the last two columns under Stock Awards.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                    <tr>
                      <td style="width: 50%; font-weight: bold; font-size: 8pt;">44<br>
                      </td>
                      <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">
                        <div><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

          <tr>
            <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
              <div>
                <div style="text-align: right; font-size: 8pt; font-weight: bold;">
                  <div>
                    <div style="font-weight: bold;">Executive Compensation Tables</div>
                  </div>
                </div>
              </div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zd10e01cef66f410b8c2bf4930c8361b0">

          <tr>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td colspan="4" style="vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock Awards <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unexercised Options/SARs Unexercisable</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares or Units of Stock that Have Not Vested</div>
            </td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market Value of Shares or Units of Stock that Have Not Vested</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
            <td style="width: 13%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Equity Incentive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Plan Awards:</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Market or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payout Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Unearned Shares,</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Units or</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Other Rights</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">That Have Not</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Vested</div>
            </td>
          </tr>
          <tr>
            <td colspan="9" style="vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.93</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.89</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">44.44</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.99</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/08/23</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46.58</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.37</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">43.83</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">11,250</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">41.98</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/14/24</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,625</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.46</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5,625</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40.61</div>
            </td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/09/25</div>
            </td>
            <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.26%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 13%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 13%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 2%;">&#160;</td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12%;">
              <div style="text-align: right; font-size: 8.5pt;">22,811</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.26%;">
              <div style="text-align: right; font-size: 8.5pt;">$1,197,363</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 12.24%;">
              <div style="text-align: right; font-size: 8.5pt;">14,827</div>
            </td>
            <td style="border-bottom: 2px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 13%;">
              <div style="text-align: right; font-size: 8.5pt;">$778,269</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="zfde16668da2f4c91bb466cb3e17ebe55">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR award reported above vests and becomes exercisable with respect to 25% of its underlying securities per year over the first four years of its term, and commenced vesting nine years prior to the
                    expiration date reported for such SAR award.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z6e3048fa58954ac6bec10b0641adff56">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">PRSU awards vest 50% on the second anniversary and 50% on the third anniversary of their grant date. PRSUs granted on February 13, 2017 and February 12, 2018 are no longer subject to a performance condition
                    and are therefore reported in the first two columns under Stock Awards. PRSUs granted on February 11, 2019 are subject to a performance condition and are therefore reported in the last two columns under Stock Awards.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: rgb(0, 0, 0); width: 100%;">

                        <tr>
                          <td style="width: 50%; font-weight: bold; font-size: 8pt;">
                            <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                          </td>
                          <td style="width: 50%; text-align: right; font-weight: bold; font-size: 7pt;">45<br>
                          </td>
                        </tr>

                    </table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin-top: 4px; margin-bottom: 4px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="zd2e07aac69614410ad9502f9847fa5cf">

          <tr>
            <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
              <div>
                <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
              </div>
            </td>
          </tr>

      </table>
      <div style="margin: 0px; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="margin: 0px 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information provided by Diamond Offshore regarding SARs granted to James S. Tisch, Andrew H. Tisch and Kenneth I. Siegel under Diamond
        Offshore&#8217;s stock option plan that were outstanding as of December 31, 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END</div>
      <font style="font-weight: bold;"> </font>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">(DIAMOND OFFSHORE COMMON STOCK)</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z2d8834e7e647481a986f19da36ca9622" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="border-bottom: 1px solid #2962AE; vertical-align: bottom; width: 100%;" colspan="4">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Exercisable</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Unexercisable</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z513970ed07ff412da8ed92b0946ec3ee">

          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">99.16</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/04/20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">87.65</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">61.79</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">68.52</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">66.38</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/03/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">78.90</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">70.38</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">55.64</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">55.72</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/03/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">66.68</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/02/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">59.19</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/02/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">66.04</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">67.47</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">69.71</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">68.62</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">62.31</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">56.55</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">48.36</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">49.57</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">34.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.16</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">26.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">25.88</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.56</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.93</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/04/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">24.02</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.67</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/03/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.89</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16.61</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.97</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.34</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18.41</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.21</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.11</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/29</div>
            </td>
          </tr>

      </table>
      <div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z234f9a80cd084456a4429aa5a794918f" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt; vertical-align: top;">
                <div style="font-size: 8pt;">(1)</div>
              </td>
              <td style="vertical-align: top;">
                <div style="font-size: 8pt;">Each SAR reported above vested and became exercisable with respect to 100% of its underlying securities on the date it was granted.</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z48686c0158314f649069e7feca61c110">

              <tr>
                <td style="width: 50%; font-size: 7pt; font-weight: bold;">46</td>
                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="zed61c7a5a75e43be996f4dbfa9fb19c6">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1d4087f60cc64aa38a5a8c1914ab091e" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="border-bottom: 1px solid #2962AE; vertical-align: bottom; width: 100%;" colspan="4">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Exercisable</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Unexercisable</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zfa612f1689e64602bbe9291eb7a4fca4">

          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$70.38</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">500</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">55.64</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/21</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">55.72</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/03/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">66.68</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/02/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">59.19</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/02/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">66.04</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/22</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">67.47</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">69.71</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">68.62</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">62.31</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/23</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">56.55</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">48.36</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">49.57</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">34.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.16</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">26.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">25.88</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.56</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.93</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/04/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">24.02</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.67</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/03/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.89</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16.61</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.97</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.34</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18.41</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.21</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.11</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/29</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 8pt; margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z967936b88cd049ae9ea44ae92a601c3e" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR reported above vested and became exercisable with respect to 100% of its underlying securities on the date it was granted.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="zdae19f8ee81e4c89a1d4e21ef7f766f6">

                  <tr>
                    <td style="width: 50.00%;">
                      <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                    <td style="width: 50%; text-align: right; font-size: 7pt; font-weight: bold;">47<br>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z5b695256da80438db2149c2686d0f4a6">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                </div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze366f455915948b68a83c183f7148297" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="border-bottom: 1px solid #2962AE; vertical-align: bottom; width: 100%;" colspan="4">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Exercisable</div>
            </td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Securities</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Underlying Unexercised </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SARs Unexercisable</div>
            </td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Exercise Price</div>
            </td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 25%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Options/SAR</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Expiration Date</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z84b6006723414428836c9702ebf7ae41">

          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$48.36</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">49.57</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">34.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/24</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">37.16</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/02/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">26.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">25.88</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.56</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/25</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.93</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/04/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">24.02</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.67</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/03/26</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17.89</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">16.61</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.97</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.34</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/27</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">18.41</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">21.21</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20.11</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/28</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">9.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">01/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10.49</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">04/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">8.69</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">07/01/29</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,000</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">5.54</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10/01/29</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 8pt; margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zd95636da69ee4ca18a99a07f865020a4" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Each SAR reported above vested and became exercisable with respect to 100% of its underlying securities on the date it was granted.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding the exercise of SARs granted under our Stock Option Plan and RSUs vested under our Incentive
        Compensation Plan for our named executive officers during 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 OPTION EXERCISES AND STOCK VESTED</div>
      <font style="font-weight: bold;"> </font>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">(LOEWS COMMON STOCK)</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z00222238c8584ed6a66f8a11d17a0871" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 33%; vertical-align: bottom;">&#160;</td>
            <td style="border-bottom: 1px solid #2962AE; vertical-align: bottom;" colspan="2">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Option/SAR Awards</div>
            </td>
            <td style="width: 3%; vertical-align: bottom;">&#160;</td>
            <td style="border-bottom: 1px solid #2962AE; vertical-align: bottom;" colspan="2">
              <div style="text-align: center; color: rgb(41, 98, 174); font-size: 8pt;">Stock/RSU Awards</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 16%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Acquired on Exercise</div>
            </td>
            <td style="border-bottom: 2px solid rgb(41, 98, 174); border-top: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 16.5%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Value Realized</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">on Exercise</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">&#160;</td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 16%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Shares </div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Acquired on Vesting</div>
            </td>
            <td style="border-bottom: 2px solid #2962AE; border-top: 1px solid #2962AE; vertical-align: bottom; width: 16.5%;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Value Realized</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">on Vesting</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z079733476a324385a8e3198ee0f02538">

          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,916</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,025,033</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,508</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,053,262</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">30,713</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,476,874</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17,898</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">837,632</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,916</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,025,033</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,508</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,053,262</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,916</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,025,033</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,508</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,053,262</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">7,156</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">368,480</div>
            </td>
            <td style="width: 3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">17,898</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">837,632</div>
            </td>
          </tr>

      </table>
      <div style="margin: 8pt 0px 0px; font-family: 'Times New Roman'; font-size: 10pt;">None of our named executive officers exercised awards granted under Diamond Offshore&#8217;s stock option plan during the year ended December 31, 2019.</div>
      <div style="margin: 0px; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="margin: 0px; font-family: 'Times New Roman'; font-size: 10pt;">
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z3676e1adde2249869dc323bd2b0d21a6">

              <tr>
                <td style="width: 50%; font-size: 7pt; font-weight: bold;">48<br>
                </td>
                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z819c85323a694f44ab482714584e2465">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <a name="PensionPlans"><!--Anchor--></a>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Pension Plans</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Historically, we provided a funded, tax qualified, non-contributory retirement plan for certain employees, including our named executive officers (our &#8220;Qualified
        Retirement Plan&#8221;). Benefits under tax qualified plans are subject to limitations under the Internal Revenue Code. Accordingly, we also provided an unfunded, nonqualified, non-contributory retirement plan (our &#8220;Benefit Equalization Plan&#8221;) which
        provided for benefits that otherwise were not available due to these limitations. Effective December 31, 2019, these plans were frozen, and participants will no longer accrue benefits, other than interest credits on accrued balances.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Before they were frozen, these retirement plans provided benefits under a formula in which the value of each participant&#8217;s benefit was expressed as a nominal cash
        balance account established for each participant. We increased each participant&#8217;s nominal account annually by:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="z6536c6b0693c4675a3d180e6ca3509d2" class="DSPFListTable" style="width: 100%; color: #2962AE; font-family: Arial; font-size: 9pt; text-align: left;">

              <tr>
                <td style="vertical-align: top; width: 9pt; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">a &#8220;pay-based credit&#8221; based on a
                    specified percentage of the participant&#8217;s annual compensation, which was determined based on the participant&#8217;s years of service, and</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt;">
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="z9e17a0d6d7b94211b3f2cfac4211780e" class="DSPFListTable" style="width: 100%; color: #2962AE; font-family: Arial; font-size: 9pt; text-align: left;">

              <tr>
                <td style="vertical-align: top; width: 9.35pt; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">an &#8220;interest credit&#8221; based on a
                    specified interest rate, which is determined annually for all participants.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">At retirement or termination of employment, vested participants are entitled to receive their benefit in a lump-sum or a monthly annuity. Compensation covered under the
        plans consisted of salary and, if applicable, cash incentive compensation awards, subject to certain limitations as described in the plans.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We also maintain supplemental retirements accounts for James S. Tisch, Andrew H. Tisch and Jonathan M. Tisch, under supplemental retirement agreements with each of
        these individuals (&#8220;Supplemental Benefit&#8221;). We credit each nominal account annually with the interest credit established under our Qualified Retirement Plan. Upon retirement, each of these named executive officers will receive the value of his
        account in the form of an annuity or, subject to certain conditions, in a single lump-sum payment.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding pension benefits accrued for and paid to each of our named executive officers as of December 31, 2019.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 PENSION BENEFITS</div>
      <table cellspacing="0" cellpadding="0" id="z798ec7d0c1b244359f5e51b1d745b5df" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Plan Name</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Number of Years</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Credited Service</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Present Value of</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Accumulated Benefit</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="margin-left: 1pt; color: rgb(41, 98, 174); font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              <div style="margin-left: 1pt; color: rgb(41, 98, 174); font-size: 5pt;">&#160;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><br>
                </sup></div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Payments During</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.33%; vertical-align: top; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;" rowspan="3">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">James S. Tisch</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); padding-bottom: 1px;">
              <div style="font-size: 8.5pt;">Qualified Retirement Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$1,717,505</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Benefit Equalization Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">42</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">28,164,700</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Supplemental Benefit</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,428,753</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.33%; vertical-align: top; border-top: #000000 2px solid; border-bottom: #000000 2px solid;" rowspan="2">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); padding-bottom: 1px;">
              <div style="font-size: 8.5pt;">Qualified Retirement Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">271,370</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Benefit Equalization Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">14</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">4,358,446</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.33%; vertical-align: top; border-top: #000000 2px solid; border-bottom: #000000 2px solid;" rowspan="3">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Andrew H. Tisch</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); padding-bottom: 1px;">
              <div style="font-size: 8.5pt;">Qualified Retirement Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,749,505</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Benefit Equalization Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">46</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">24,100,807</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Supplemental Benefit</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,437,381</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.33%; vertical-align: top; border-top: #000000 2px solid; border-bottom: #000000 2px solid;" rowspan="3">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Jonathan M. Tisch</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Qualified Retirement Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,436,327</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Benefit Equalization Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">40</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">22,584,840</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Supplemental Benefit</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">1,428,753</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.33%; vertical-align: top; border-top: #000000 2px solid; border-bottom: #000000 2px solid;" rowspan="2">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">Kenneth I. Siegel</div>
            </td>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Qualified Retirement Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); padding-bottom: 1px;">
              <div style="text-align: right; font-size: 8.5pt;">10</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">96,118</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Benefit Equalization Plan</div>
            </td>
            <td style="width: 14.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">10</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">2,499,871</div>
            </td>
            <td style="width: 2.67%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 16%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">0</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z1d504a21379e40d8b732cd3f8c361e28" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Assuming (a) benefit commencement at a normal retirement date age of 65 for David B. Edelson and Kenneth I. Siegel, and current age for Andrew H. Tisch, Jonathan M. Tisch and James S. Tisch, who are currently
                    eligible for an unreduced benefit; (b) a discount rate of 3.1% for the Benefit Equalization Plan and 3.2% for the Qualified Retirement Plan; and (c) interest credits of 3.0% for 2020 and future years. Other interest rate and mortality
                    rate assumptions used are consistent with those used in our financial statements.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <div> <br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="zdeb77d1c639b45b5abdee2e72099ac15">

              <tr>
                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; text-align: right; font-size: 7pt; font-weight: bold;">49<br>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 9pt; margin-bottom: 9pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z55afe5a9ae1e4f1faeddb51cfef0f785">

            <tr>
              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <a name="DeferredCompensation"><!--Anchor--></a>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Deferred Compensation</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding compensation deferred by David Edelson on a nonqualified basis under our Deferred Compensation Plan (the &#8220;2008 Plan&#8221;),
        which was frozen as of December 31, 2015. None of our other named executive officers have outstanding balances under this plan.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Under the 2008 Plan, by annual election, employees earning in excess of $100,000 per year could defer up to ten percent of their base salaries on a tax-deferred basis
        for a period of not less than three years. Deferred amounts are maintained by us in an interest-bearing account. Upon electing to participate in this plan each year, each participating employee chose the amount to be deferred and the duration of
        the deferral, whether to receive distributions of deferred amounts in a single payment or in equal annual installments over a period of up to 15 years, and an interest rate from a selection of short-term and long-term rates that were available
        depending on the duration of the deferral.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019 NONQUALIFIED DEFERRED COMPENSATION (2008 PLAN)</div>
      <table cellspacing="0" cellpadding="0" id="zad0c593eaefe45beb99ebf30b6418896" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 16.34%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Executive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Contributions in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Company</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Contributions in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Earnings in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 2.61%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">&#160;</td>
            <td style="width: 13.73%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate Withdrawals/</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Distributions</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Balance at Last</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Fiscal Year-End</div>
            </td>
            <td style="width: 1.96%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.34%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$32,943</div>
            </td>
            <td style="width: 2.61%; vertical-align: top; border-top: 2px solid rgb(41, 98, 174); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 1pt; font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 13.73%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
            <td style="width: 16.34%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$799,087</div>
            </td>
            <td style="width: 1.96%; vertical-align: top;">
              <div style="margin-left: 1pt; font-size: 8.5pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z5f4ac0f96d0c4c10889ccbdfa3fba3be" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Pursuant to applicable SEC rules, amounts included in Aggregate Earnings in Last Fiscal Year are not reported as compensation in the 2019 Summary Compensation Table as they were not accrued at an above-market
                    interest rate.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zc7abaea735654a109468851d668392ea" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">$431,250 of contributions made by Mr. Edelson since he became a named executive officer included in Aggregate Balance at Last Fiscal Year-End were reported as compensation in Summary Compensation Tables for
                    previous years. All other contributions, and all earnings, were not reported as compensation in Summary Compensation Tables for previous years pursuant to applicable SEC rules.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows information regarding compensation deferred by Mr. Edelson on a nonqualified basis under our Executive Deferred Compensation
        Plan (the &#8220;2016 Plan&#8221;), which was adopted effective January 1, 2016 and frozen as of December 31, 2019. None of our other named executive officers have outstanding balances under this plan.</div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Under the 2016 Plan, by annual election, employees earning at least $250,000 per year could defer up to 50% of base salary and 75% of bonus, and
        non-management directors could defer up 100% of their compensation, on a tax-deferred basis for a period of not less than three years.</div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The 2016 Plan was a nonqualified, unfunded plan under the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA);
        however, we have established a &#8220;rabbi&#8221; trust, to provide a source of funds (subject to the claims of our creditors), which is administered by an independent financial institution as trustee. Deferred amounts were credited to the participant&#8217;s
        account and allocated by the participant among a number of investment funds selected by the benefits committee administering the plan.</div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition to selecting an amount of compensation to be deferred and choosing among the available investment funds, upon electing to participate in
        this plan each year, a participant chose the duration of the deferral and whether to receive distributions of deferred amounts in a single payment or in equal annual installments over a period of up to 15 years.</div>
      <div style="margin-bottom: 3pt; color: rgb(41, 98, 174); font-size: 8pt;">2019 NONQUALIFIED DEFERRED COMPENSATION (2016 PLAN)</div>
      <table cellspacing="0" cellpadding="0" id="z9f490bc2f9c64a7ca4c22b78fbf2ca36" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18.89%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt;">Name</div>
            </td>
            <td style="width: 14.43%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Executive</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Contributions in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 16.7%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Company</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Contributions in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 16.69%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Earnings in</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Last Fiscal Year</div>
            </td>
            <td style="width: 16.69%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Withdrawals/</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Distributions</div>
            </td>
            <td style="width: 16.62%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Aggregate</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Balance at Last</div>
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">Fiscal Year-End</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.89%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">David B. Edelson<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 14.43%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$176,250</div>
            </td>
            <td style="width: 16.7%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
            <td style="width: 16.69%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$77,808</div>
            </td>
            <td style="width: 16.69%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$0</div>
            </td>
            <td style="width: 16.62%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$570,701</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z74018aa4d6c04575bc94e4a1bfe939da" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Mr. Edelson&#8217;s contributions in last fiscal year of $176,250 are reported as compensation in the 2019 Summary Compensation Table, and $316,750 of his contributions from previous years included in Aggregate
                    Balance at Last Fiscal Year-End were reported in Summary Compensation Tables for previous years. Pursuant to applicable SEC rules, earnings are not reported as compensation in Summary Compensation Tables (for the last fiscal year nor
                    for previous years) as they were not accrued at above-market interest rates.</div>
                </td>
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          </table>
          <div> <br>
          </div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z33a7702e7b694dc4a45e502cff69e29a">

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                    <td style="width: 50%; font-size: 7pt; font-weight: bold;">50<br>
                    </td>
                    <td style="width: 50.00%;">
                      <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin: 0px 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z1cee0bf725124269b9c1e121cf7d6920">

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              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Executive Compensation Tables</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin: 0px 0px 8pt; font-family: 'Times New Roman'; font-size: 10pt;">As discussed above under &#8220;Employee Benefits&#8221; on page , we froze the 2016 Plan as of December 31, 2019 and adopted our new Deferred Investment Plan effective as of
        January 1, 2020. Deferrals of compensation on a nonqualified, tax-deferred, basis for 2020 and future years, if any, will be made pursuant to this new plan.</div>
      <div style="margin-top: 12pt; margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition to deferrals of cash compensation, under the deferred compensation program described above, employees (including our named executive
        officers) are eligible to defer receipt of equity compensation awards granted to them. In 2019, James S. Tisch and Andrew H. Tisch elected to defer receipt of their 2019 PRSU grants until their respective 99th birthdays of January 2, 2053 and
        August 14, 2049 (or their earlier termination of employment).</div>
      <a name="CEOPayRatio"><!--Anchor--></a>
      <div style="margin-top: 24pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">CEO Pay Ratio</div>
      <div style="margin: 12pt 0px 0px; font-family: 'Times New Roman'; font-size: 10pt;">Under SEC rules established pursuant to the Dodd-Frank Act, we are required to disclose the ratio of pay of our Chief Executive Officer to that of our median
        employee, as defined under those rules, excluding our Chief Executive Officer. For 2019, we used the same median employee identified for our 2018 pay ratio disclosure as there has not been a significant change in our employee population or employee
        compensation arrangements that we believe would significantly impact the disclosure. That median employee was identified using a determination date of December 31, 2018 and a compensation measure that incorporated base salary, overtime and any
        bonuses paid for 2018. Our employee population as of that date included approximately 17,300 employees from Loews Corporation and our controlled subsidiaries &#8212; CNA, Diamond Offshore, Boardwalk Pipelines, Loews Hotels and Altium Packaging. For
        employees hired during the year, their compensation was annualized to reflect a full year of wages. International employees&#8217; pay was converted to US dollar equivalents using the average of the exchange rates from January 1, 2018 and December 31,
        2018. For 2019, the annual total compensation of our Chief Executive Officer, which is equal to the total compensation amount reflected in the Summary Compensation Table above, and the median employee from the employee population determined under
        the SEC rules is $9,312,872 and $72,145, respectively. This results in a CEO pay ratio estimate of 129:1. The large increase in this ratio from 2018 to 2019 is due almost entirely to the difference between the amounts required to be reported for
        those years pursuant to SEC rules for our Chief Executive Officer for Change in Pension Value and Nonqualified Deferred Compensation Earnings. Given the numerous different methodologies, assumptions, adjustments and estimates that companies may
        apply as permitted under SEC rules, this information may not be an appropriate basis for comparison between different companies.</div>
      <div style="margin: 0px 0px 8pt;">
        <div>
          <div> <br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z57a65bc972df45c29d34feb978f4ca4c">

              <tr>
                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; text-align: right; font-size: 7pt; font-weight: bold;">51<br>
                </td>
              </tr>

          </table>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z4e95bb0b66b0452bbb548fa2448024b5">

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              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Proposal No. 3: Ratification of the Appointment of Our Independent Auditors</div>
                </div>
              </td>
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        </table>
      </div>
      <a name="ProposalNo.3:"><!--Anchor--></a>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">Proposal No. 3:</div>
      <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Ratification of the Appointment of Our Independent Auditors</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Audit Committee is directly responsible for the appointment, compensation and oversight of the independent external audit firm retained to audit our financial
        statements and the audit fee negotiations associated with their retention. Our Audit Committee has selected Deloitte &amp; Touche LLP to serve as our independent auditors for 2020. The Audit Committee regularly evaluates the performance of our
        independent auditors to determine if it is engaging the firm it believes is best positioned to serve the company and its shareholders. The Audit Committee also periodically considers whether, in order to assure continuing auditor independence,
        Loews should rotate its independent external audit firm. In conjunction with the mandated rotation of the independent auditors&#8217; lead engagement partner, the Audit Committee and its Chairman participate in the selection of each new lead engagement
        partner. The Audit Committee and the Board believe that the continued retention of Deloitte &amp; Touche LLP to serve as Loews&#8217;s independent external auditor is in the best interests of Loews and its shareholders.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Although it is not required to do so, our Board wishes to submit the selection of Deloitte &amp; Touche LLP for ratification by our shareholders at the Annual Meeting.
        Even if this selection is ratified by our shareholders at the Annual Meeting, our Audit Committee may at its discretion change the appointment at any time during the year if it determines that such a change would be in the best interests of us and
        our shareholders. If our shareholders do not ratify the selection of Deloitte &amp; Touche LLP, our Audit Committee will reconsider its selection. Representatives of Deloitte &amp; Touche LLP are expected to be at the Annual Meeting to answer
        appropriate questions and, if they choose to do so, to make a statement.</div>
      <div style="margin-top: 24pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="AuditFeesandServices"><!--Anchor--></a>Audit Fees and Services</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The following table shows fees billed by Deloitte &amp; Touche LLP and its affiliates for professional services rendered to us and our subsidiaries in 2019 and 2018, by
        category, as described in the notes to the table.</div>
      <table cellspacing="0" cellpadding="0" id="z4bb54f7cc5444dc6abbb7f62d386c13b" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 57.33%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="color: rgb(0, 0, 0); font-size: 8pt;">(in thousands)</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt; font-weight: bold;">2019</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: #2962AE 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8pt;">2018</div>
            </td>
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            <td style="width: 57.33%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); padding-bottom: 1px;">
              <div style="font-size: 8.5pt;">Audit Fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (1)</sup></div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8.5pt;">$20,007</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 2px solid rgb(41, 98, 174); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">$20,403</div>
            </td>
          </tr>
          <tr>
            <td style="width: 57.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="font-size: 8.5pt;">Audit Related Fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8.5pt;">734</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">795</div>
            </td>
          </tr>
          <tr>
            <td style="width: 57.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); padding-bottom: 1px;">
              <div style="font-size: 8.5pt;">Tax Fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (3)</sup></div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8.5pt;">33</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-size: 8.5pt;">20</div>
            </td>
          </tr>
          <tr>
            <td style="width: 57.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="font-size: 8.5pt;">All Other Fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (4)</sup></div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8.5pt;">17</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-bottom: 2px solid rgb(41, 98, 174);">
              <div style="text-align: right; font-size: 8.5pt;">18</div>
            </td>
          </tr>
          <tr>
            <td style="width: 57.33%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="font-size: 8.5pt;">Total</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; color: rgb(41, 98, 174); font-size: 8.5pt;">$20,791</div>
            </td>
            <td style="width: 21.33%; vertical-align: bottom; border-top: #2962AE 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 8.5pt;">$21,236</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 3pt;"><br>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="za0e59cd4fc1b4b919567fec4b2893774" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(1)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes the aggregate fees and expenses for the audit of our and our subsidiaries&#8217; annual financial statements and internal control over financial reporting, statutory filings and the reviews of our and their
                    quarterly financial statements.</div>
                </td>
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          </table>
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      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zd23ea7ac54e544fd804e539c3f750714" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(2)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes the aggregate fees and expenses for services that were reasonably related to the performance of the audit or reviews of our and our subsidiaries&#8217; financial statements and not included under &#8220;Audit
                    Fees&#8221; above, including, principally, consents and comfort letters and the audit of employee benefit plans.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zaaa7f71a6b48454a84695e0a3c81fbc4" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(3)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes the aggregate fees and expenses for tax compliance and tax planning services.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="margin-bottom: 3pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z87fc82828a6647239f1541c5d2fb9340" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 18pt; vertical-align: top; font-size: 8pt;">(4)</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 8pt;">Includes the aggregate fees and expenses for products and services, other than those services described above.</div>
                </td>
              </tr>

          </table>
          <div>
            <div>
              <div> <br>
              </div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="zd40dec8b476a468681f97fea0c76d426">

                  <tr>
                    <td style="width: 50%; font-size: 7pt; font-weight: bold;">52<br>
                    </td>
                    <td style="width: 50.00%;">
                      <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                    </td>
                  </tr>

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            </div>
          </div>
        </div>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z3b9fce4c83da41c98346020a38b47cac">

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              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proposal No. 3: Ratification of the Appointment of Our Independent Auditors</div>
                </div>
              </td>
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        </table>
      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="AuditorEngagementPre-Appr"><!--Anchor--></a>Auditor Engagement Pre-Approval Policy</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">To assure the continued independence of our independent auditors, currently Deloitte &amp; Touche LLP, our Audit Committee has adopted a policy requiring pre-approval
        of all audit and non-audit services performed by our independent auditors. Under this policy, our Audit Committee annually pre-approves certain specified recurring services which may be provided by Deloitte &amp; Touche LLP, subject to maximum
        dollar limitations.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">All other engagements for services to be performed by Deloitte &amp; Touche LLP must be specifically pre-approved by our Audit Committee, or the Chairman of our Audit
        Committee to the extent the Audit Committee has delegated pre-approval authority to the Chairman. Our Audit Committee, or the Chairman of our Audit Committee pursuant to such delegated authority, pre-approves all engagements by us and our
        subsidiaries, other than CNA and Diamond Offshore and their respective subsidiaries, for services of Deloitte &amp; Touche LLP, including all terms and fees. Our Audit Committee has concluded that all these engagements have been compatible with the
        continued independence of Deloitte &amp; Touche LLP in serving as our independent auditors.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman'; font-size: 10pt;">Engagements of Deloitte &amp; Touche LLP by CNA and Diamond Offshore are reviewed and approved by the independent audit committees of those subsidiaries under
        pre-approval policies adopted by those committees.</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zaabdb20f3dc740919fda0d61f87d8734" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 8%; vertical-align: top; background-color: #528BD6;">
              <div>&#160;<img src="image00003.jpg"></div>
            </td>
            <td style="width: 92%; vertical-align: middle; background-color: #528BD6;">
              <div style="color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 14pt;">Our Board recommends a vote <font style="font-family: Arial; font-size: 12pt; font-weight: bold;">FOR</font> Proposal No. 3.</div>
            </td>
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      <div style="margin-bottom: 8pt;">
        <div>
          <div> <br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="ze1534b7f185f4454994a47af5c99333d">

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                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; text-align: right; font-weight: bold;"><font style="font-size: 7pt;">53</font><br>
                </td>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;" id="z343e90814178419db5a918a58a95392f">

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              <td style="width: 100%; border-bottom: 1px solid rgb(0, 0, 0);">
                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Audit Committee Report</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;"><a name="AuditCommitteeReport"><!--Anchor--></a>Audit Committee Report</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The primary role of the Board&#8217;s Audit Committee is to oversee our financial reporting process and manage our relationship with our independent auditors. For more
        information about the Audit Committee&#8217;s responsibilities please see &#8220;Board Committees&#8221; on page . In fulfilling its responsibilities, the Audit Committee has reviewed, and discussed with Loews&#8217;s management and independent auditors, the company&#8217;s
        audited financial statements for the year ended December 31, 2019. The Audit Committee has also discussed with our independent auditors the matters required to be discussed by Auditing Standard No. 1301, &#8220;Communications with Audit Committees,&#8221; as
        adopted and as amended by the Public Company Accounting Oversight Board (&#8220;PCAOB&#8221;).</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">In addition, the Audit Committee has discussed with the independent auditors their independence in relation to Loews and its management, including the matters in the
        written disclosures provided to the Audit Committee as required by applicable requirements of the PCAOB regarding the independent accountants&#8217; communications with the Audit Committee concerning independence. We have determined that the provision of
        non-audit services provided by the auditors is compatible with maintaining the auditors&#8217; independence. For more information about services provided by our independent auditors, please read &#8220;Audit Fees and Services,&#8221; in Proposal 3 on page .</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The members of the Audit Committee rely without independent verification on the information provided to them by management and the independent auditors and on
        management&#8217;s representation that the company&#8217;s financial statements have been prepared with integrity and objectivity. They do not provide any expert or special assurance as to Loews&#8217;s financial statements or any professional certification as to
        the independent auditors&#8217; work. Accordingly, the Audit Committee&#8217;s oversight does not provide an independent basis to determine that management has applied appropriate accounting and financial reporting principles or internal controls and
        procedures, that the audit of the company&#8217;s financial statements has been carried out in accordance with generally accepted auditing standards, that Loews&#8217;s financial statements are presented in accordance with generally accepted accounting
        principles, or that the company&#8217;s auditors are in fact &#8220;independent.&#8221;</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Based upon the reviews and discussions referred to above, the Audit Committee recommended to the Board that the audited financial statements be included in our Annual
        Report on Form 10-K for the year ended December 31, 2019, which has been filed with the Securities and Exchange Commission.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">By the Audit Committee:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zb9752d0377624ac286ee732446a44ed9" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <td nowrap="nowrap" colspan="2" rowspan="1" style="width: 15%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Walter L. Harris, Chairman</div>
            </td>
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            <td style="width: 15%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ann E. Berman</div>
            </td>
            <td style="width: 85%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Joseph L. Bower</div>
            </td>
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            <td style="width: 15%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Charles M. Diker</div>
            </td>
            <td style="width: 85%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Paul J. Fribourg</div>
            </td>
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            <td style="width: 15%; vertical-align: top;">
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Philip A. Laskawy</div>
            </td>
            <td style="width: 85%; vertical-align: top;">&#160;</td>
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          <div> <br>
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                <td style="width: 50%; font-size: 7pt; font-weight: bold;">54<br>
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                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Proposal No. 4: Shareholder Proposal regarding Certain Political Contributions Disclosures</div>
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      <a name="ProposalNo.4:"><!--Anchor--></a>
      <div style="color: rgb(127, 127, 127); font-size: 26pt; font-weight: bold;">Proposal No. 4:</div>
      <div style="color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">Shareholder Proposal Requesting Certain Disclosures </div>
      <div style="margin: 0px 0px 15pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">regarding Political Contributions</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">A Loews shareholder has notified us that it intends to present the following proposal for consideration at the Annual Meeting. The name, address and number of shares
        held by such shareholder are available upon request to the Corporate Secretary.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">Resolved</font>, that the shareholders of Loews Corporation (&#8220;Loews&#8221; or &#8220;Company&#8221;) hereby request that the Company provide a report,
        updated semiannually, disclosing the Company&#8217;s:</div>
      <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1.</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 6.75pt;">&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Policies
















          and procedures for making, with corporate funds or assets, contributions and expenditures (direct or indirect) to (a) participate or intervene in any campaign on behalf of (or in opposition to) any candidate for public office, or (b) influence
          the general public, or any segment thereof, with respect to an election or referendum.</font></div>
      <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2.</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 6.75pt;">&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Monetary
















          and non-monetary contributions and expenditures (direct and indirect) used in the manner described in section 1 above, including:</font></div>
      <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">a.</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 6.75pt;">&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">The
















          identity of the recipient as well as the amount paid to each; and</font></div>
      <div style="margin-bottom: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">b.</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 6.75pt;">&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">The
















          title(s) of the person(s) in the Company responsible for decision-making.</font></div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">The report shall be presented to the board of directors or relevant board committee and posted on the Company&#8217;s website within 12 months from the date of the annual
        meeting. This proposal does not encompass lobbying spending.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Supporting Statement</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">As long-term shareholders of Loews, we support transparency and accountability in corporate electoral spending. This includes any activity considered intervention in a
        political campaign under the Internal Revenue Code, such as direct and indirect contributions to political candidates, parties, or organizations, and independent expenditures or electioneering communications on behalf of federal, state, or local
        candidates.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Disclosure is in the best interest of the company and its shareholders. The Supreme Court recognized this in its 2010 Citizens United decision, which said,
        &#8220;[D]isclosure permits citizens and shareholders to react to the speech of corporate entities in a proper way. This transparency enables the electorate to make informed decisions and give proper weight to different speakers and messages.&#8221;</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Relying on publicly available data does not provide a complete picture of the Company&#8217;s electoral spending. For example, the Company&#8217;s payments to trade associations
        that may be used for election-related activities are undisclosed and unknown. This proposal asks the Company to disclose all of its electoral spending, including payments to trade associations and other tax-exempt organizations, which may be used
        for electoral purposes. This would bring our Company in line with a growing number of leading companies, including American International Group Inc., Hartford Financial Services Group Inc., and MetLife Inc., which present this information on their
        websites.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">The Company&#8217;s Board and shareholders need comprehensive disclosure to fully evaluate the use of corporate assets in elections. We urge your support for this critical governance reform.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">
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          <div> <br>
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                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; text-align: right; font-size: 7pt;"><font style="font-weight: bold;">55</font><br>
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                <div>
                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Proposal No. 4: Shareholder Proposal regarding Certain Political Contributions Disclosures</div>
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      </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="CompanysStatementinOpposi"><!--Anchor--></a>Company&#8217;s Statement in Opposition</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Our Board does not believe that the reporting of Loews&#8217;s political contributions is an appropriate use of its resources and recommends a vote <font style="font-weight: bold;">AGAINST</font> this proposal for the following reasons:</div>
      <div style="margin-bottom: 4pt;">
        <div>
          <table cellspacing="0" cellpadding="0" id="zb3ca7f5372404097950512bdd84e3787" class="DSPFListTable" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 9pt; vertical-align: top; align: right; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">While our shareholders voted on and soundly rejected a substantially identical proposal in 2019, we recognized during our shareholder engagement that there was interest in more
                    information about our public policy engagement and political activities. As a result, Loews prepared and made public a statement describing those activities across the Loews enterprise (parent company and subsidiaries). That statement
                    can be found at: <font style="font-style: italic;">loews.com/fileStore/political-activities-disclosure.pdf</font>.</div>
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                <td style="width: 9pt; vertical-align: top; align: right; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">As disclosed, our Board and management team oversee our public policy engagement and political activities at the parent company, and the boards and management teams of our
                    subsidiaries are responsible for establishing tailored policies and practices for their businesses.</div>
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                <td style="width: 9pt;"><br>
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                <td style="width: 18pt; vertical-align: top; font-size: 10pt;">o</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Loews and its subsidiaries comply with all federal, state and local laws pertaining to political contributions, which already include appropriate disclosure requirements.</div>
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                <td style="width: 9pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; font-size: 10pt;">o</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Loews does not typically make political contributions and does not instruct its subsidiaries to do so. During the past several years, political contributions made by Loews and
                    its subsidiaries have been <font style="font-style: italic;">de minimis</font>&#8212;less than 0.003% of our consolidated annual operating expenditures.</div>
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                <td style="width: 9.35pt; vertical-align: top; align: right; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Loews&#8217;s subsidiaries operate in highly regulated industries in which decisions of federal, state and local governments can impact their businesses. Our Board recognizes that it
                    is important for Loews and its subsidiaries to have flexibility to appropriately evaluate and engage in the public policymaking process. All activities are conducted in compliance with applicable law and are monitored as part of our
                    robust enterprise risk management programs.</div>
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        <div>
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                <td style="width: 9.35pt; vertical-align: top; align: right; color: #2962AE; font-family: 'Wingdings 2', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman';">&#9726;</font></td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">Given the small amount of political contributions reflecting fairly minimal activities and the existing disclosure requirements, we believe the report is unnecessary. In
                    addition, adoption of this proposal would cause Loews and its subsidiaries to incur competitive harm without commensurate benefit to Loews shareholders. The requested report could put Loews and its subsidiaries at a disadvantage
                    relative to their competitors, who are not required to disclose this information beyond what is required by applicable law, by revealing confidential information about the long-term strategies and priorities of Loews and its
                    subsidiaries.</div>
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              <div>&#160;<img src="image00006.jpg"></div>
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            <td style="width: 92%; vertical-align: middle; background-color: #528BD6;">
              <div style="color: rgb(255, 255, 255); font-family: 'Times New Roman'; font-size: 14pt;">Our Board recommends a vote <font style="font-family: Arial; font-size: 12pt; font-weight: bold;">AGAINST</font> Proposal No. 4.</div>
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          <div> <br>
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                <td style="width: 50%; font-size: 7pt; font-weight: bold;">56<br>
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                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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      <div style="margin-bottom: 36pt; color: rgb(41, 98, 174); font-size: 26pt; font-weight: bold;">
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                <div>
                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Additional Information</div>
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        Additional Information<a name="AdditionalInformation"><!--Anchor--></a></div>
      <a name="Voting"><!--Anchor--></a>
      <div style="margin-top: 24pt; margin-bottom: 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Voting</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">As of March 17, 2020, the record date for determination of shareholders entitled to notice of and to vote at the Annual Meeting, there were 283,136,524 shares of our
        common stock outstanding. Each outstanding share of our common stock is entitled to one vote on all matters that may come before the Annual Meeting. All proxies properly voted in accordance with the instructions below prior to the Annual Meeting
        and not revoked will be voted at the Annual Meeting. You may revoke your proxy at any time before it is exercised by giving notice in writing to our Corporate Secretary, by granting a proxy bearing a later date or by voting in person at the Annual
        Meeting.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">Please note that in light of the COVID-19 outbreak and our concern for the health and safety of our employees and shareholders, this year our Annual Meeting will be a
        completely virtual meeting.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Internet Availability of Proxy Materials.</font> Under Securities and Exchange Commission
        rules, we have elected to make our proxy materials available to our shareholders over the Internet, rather than mailing paper copies of those materials to each shareholder. We expect to begin mailing an Important Notice Regarding the Availability
        of Proxy Materials (a &#8220;Notice&#8221;) on or about April 1, 2020. The Notice contains instructions describing how to access our proxy materials, including this Proxy Statement and our Annual Report, and vote shares by the Internet or by telephone. If you
        receive a Notice only and would like to receive a printed copy of the proxy materials, please follow the instructions printed on the Notice to request that a printed copy be mailed to you.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Voting by Proxy.</font> Whether or not you plan to virtually attend the Annual Meeting, we
        urge you to vote and submit your proxy in advance of the meeting by one of the methods below. Please have your proxy card, voting instruction form or Notice in hand when voting.</div>
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                  <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">Internet:</font> go to <font style="font-style: italic;">www.proxyvote.com</font></div>
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                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">Telephone:</font> call 1-800-690-6903</div>
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                <td style="width: 9pt; vertical-align: top; color: rgb(41, 98, 174); font-family: 'Times New Roman'; font-size: 10pt;">&#9726;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-weight: bold;">Mail:</font> if you received a paper copy of the proxy materials by mail, you can vote by signing, dating and mailing the proxy card in the
                    enclosed self-addressed envelope</div>
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      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Admittance to and Voting at the Annual Meeting.</font> The Annual Meeting is open to
        holders of our common stock. To attend the virtual meeting, visit<font style="font-style: italic;"> www.virtualshareholdermeeting.com/L2020</font> and enter the 16-digit control number included on your proxy card, voting instruction form or Notice.
        You may begin to log into the meeting platform beginning at 10:45 a.m. Eastern Daylight Savings Time (EDT) on May 12, 2020. The meeting will begin promptly at 11:00 a.m. EDT on May 12, 2020. All shareholders may vote and submit questions at the
        Annual Meeting via virtual attendance.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">If you encounter any technical difficulties with the virtual meeting platform on the meeting day, please call 1-800-586-1548 (toll free) or 1-303-562-9288
        (international toll). Technical support will be available starting at 10:30 a.m. EDT on May 12, 2020 and will remain available until thirty minutes after the meeting has finished. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Quorum.</font> A quorum will be present at the Annual Meeting if holders of a majority of
        the issued and outstanding shares of our common stock on the record date are represented at the Annual Meeting in person or by proxy. If a quorum is not present at the Annual Meeting, we expect to postpone or adjourn the Annual Meeting to solicit
        additional proxies. Abstentions and broker non-votes (as defined below) will be counted as shares present and entitled to vote for the purpose of determining whether a quorum is present. </div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">
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                <td style="width: 50.00%;">
                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; text-align: right; font-size: 7pt; font-weight: bold;">57<br>
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        <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
      </div>
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                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Additional Information</div>
                </div>
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      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8.5pt; color: rgb(41, 98, 174);"><font style="font-size: 10pt; font-weight: bold;">Broker Non-votes</font>.</font> Shares
        with respect to which a broker indicates that it does not have authority to vote on a matter will be considered &#8220;broker non-votes.&#8221; Broker non-votes occur on a matter when a bank, broker or other nominee is not permitted by applicable regulatory
        requirements to vote on that matter without instruction from the owner of the shares and no instruction is given. Absent instructions from you, your broker may vote your shares on the ratification of the appointment of our independent auditors
        (Proposal No. 3), but may not vote your shares on the election of directors (Proposal No. 1), the advisory &#8220;say-on-pay&#8221; vote (Proposal No. 2) or the shareholder proposal (Proposal No. 4). </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8.5pt; color: rgb(41, 98, 174);"><font style="font-weight: bold; font-size: 10pt;">Majority Vote Standard for Election of
            Directors</font>.</font> Our by-laws provide that a nominee for director in an uncontested election, such as the election to be held at our Annual Meeting, will be elected to the Board by the vote of the majority of the votes cast with respect
        to the nominee. With respect to Proposal No. 1, you may vote for any one or more nominees, against any one or more nominees or abstain from voting with respect to any one or more nominees. Shares that are voted to abstain with respect to any one or
        more nominees and broker non-votes will not be counted as votes cast and, therefore, will have no effect on the outcome of the voting for directors. If an incumbent nominee does not receive a majority of the votes cast, our by-laws require that
        director to tender his or her resignation and the Nominating and Governance Committee, or such other committee designated by the Board, to consider whether to accept or reject that resignation. The Board will act on the committee&#8217;s recommendation
        and publicly disclose its decision.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Votes Required to Adopt Other Proposals.</font> The affirmative vote of shares
        representing a majority of the votes cast by the holders of shares present and entitled to vote on the matter is required to approve each of the other proposals to be voted on at the Annual Meeting. With respect to Proposals No. 2, 3 and 4, you may
        vote for, against or abstain. Shares that are voted to abstain with respect to any one or more of these matters and broker non-votes will not be counted as votes cast and, therefore, will have no effect on the outcome of the voting for these
        proposals.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Confidentiality.</font> Our Board has adopted a policy of confidentiality regarding the voting of shares.
        Under this policy, all proxies, ballots and voting tabulations that identify how an individual shareholder has voted at the Annual Meeting will be kept confidential from us, except where disclosure is required by applicable law, a shareholder
        expressly requests disclosure, or in the case of a contested proxy solicitation. Proxy tabulators and inspectors of election will be employees of Broadridge Financial Solutions, Inc. or another third party and not our employees.</div>
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                <td style="width: 50%; text-align: left; font-size: 7pt;"><font style="font-weight: bold;">58</font><br>
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                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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                  <div style="text-align: right; font-size: 8pt; font-weight: bold;">Additional Information</div>
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      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="OtherMatters"><!--Anchor--></a>Other Matters</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">We know of no other matters to be brought before the Annual Meeting. If other matters should properly come before the meeting, proxies will be voted on these matters in
        accordance with the best judgment of the persons appointed as proxies.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; font-size: 8.5pt; color: rgb(41, 98, 174);"><font style="font-size: 10pt; font-weight: bold;">Cost of Proxy Solicitation</font>.</font>
        We will bear all costs in connection with the solicitation of proxies for the Annual Meeting. We intend to request brokerage houses, custodians, nominees and others who hold our common stock in their names to solicit proxies from the persons who
        beneficially own the stock, and we will reimburse these brokerage houses, custodians, nominees and others for their out-of-pocket expenses in connection therewith. We have engaged Innisfree M&amp;A Incorporated to solicit proxies for us, at an
        anticipated cost of approximately $10,000. In addition to the use of the mail, solicitation may be made by Innisfree or our employees personally or by telephone, over the Internet, by e-mail or by other electronic transmission. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-family: Arial; color: rgb(41, 98, 174); font-weight: bold;">Householding.</font> To reduce the expenses of delivering duplicate proxy materials, we
        may take advantage of the Securities and Exchange Commission&#8217;s &#8220;householding&#8221; rules that permit us to deliver only one set of proxy materials to shareholders who share an address, unless otherwise requested. If you share an address with another
        shareholder and have received only one set of proxy materials, you may request a separate copy of these materials at no cost to you by contacting us at Loews Corporation, Attn: Corporate Secretary, 667 Madison Avenue, New York, New York 10065-8087
        or at (212) 521-2000. For future annual meetings, you may request separate voting materials, or request that we send only one set of proxy materials to you if you are receiving multiple copies, by calling or writing to us at the phone number and
        address given above. </div>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;"><a name="SubmissionsofNominationso"><!--Anchor--></a>Submissions of Nominations or Other Proposals for Our 2021 Annual Meeting</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">If you wish to propose an individual to be considered by our Nominating and Governance Committee for possible recommendation to our Board as a nominee for election as a
        director, you should do so by writing to our Corporate Secretary. Your recommendation should include the candidate&#8217;s name, a brief biographical description, a statement of the candidate&#8217;s qualifications, a description of any relationship between
        the candidate and the recommending shareholder or Loews and the candidate&#8217;s signed consent to serve as a director, if elected. Our Nominating and Governance Committee requests that we receive any recommendations for director nominees for our 2021
        annual meeting of shareholders no later than October 1, 2020. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">If you wish to nominate an individual for election as a director at our 2021 annual meeting of shareholders, you must provide us written notice of your intention to do
        so addressed to our Corporate Secretary. Your notice must provide certain information, representations and agreements, including the candidate&#8217;s signed consent to serve as a director, if elected, as set forth in our by-laws. We must receive your
        notice, together with the required information, no earlier than January 12, and no later than February 11, 2021.</div>
      <div style="font-family: 'Times New Roman'; font-size: 10pt;">If you wish to submit any other proposal for our 2021 annual meeting of shareholders, you must also provide us written notice of your intention to do so addressed to our Corporate
        Secretary. For proposals that you would like to be included in our proxy materials under Rule 14a-8 under the Exchange Act, your proposal must be received by us not later than December 2, 2020 and otherwise comply with the rules and procedures set
        forth in Rule 14a-8. For other proposals that would not be included in our proxy materials, we must receive your proposal no earlier than January 12, and no later than February 11, 2021 and your proposal must be accompanied by certain information,
        representations and agreements as set forth in our by-laws.</div>
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                  <div style="font-size: 7pt; text-align: left;"><font style="color: rgb(68, 114, 196);">Loews Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
                </td>
                <td style="width: 50%; font-size: 7pt; text-align: right; font-weight: bold;">59<br>
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                  <div style="text-align: left; font-size: 8pt; font-weight: bold;">Additional Information</div>
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      <a name="CommunicatingwithOurBoard"><!--Anchor--></a>
      <div style="margin: 0px 0px 6pt; color: rgb(41, 98, 174); font-size: 16pt;">Communicating with Our Board</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">If you or any other interested party wishes to communicate directly with our lead director, other non-management directors or our Board as a whole, you or the other
        interested party may do so by writing to our Corporate Secretary. All communications will be delivered to the director or directors to whom they are addressed unless the Corporate Secretary determines that a communication is a business solicitation
        or advertisement, or requests general information about us. </div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">You should address all communications directed to our Corporate Secretary regarding the matters discussed in this Proxy Statement to Loews Corporation, 667 Madison
        Avenue, New York, New York 10065-8087, Attention: Marc A. Alpert, Corporate Secretary.</div>
      <div style="margin-bottom: 8pt; font-family: 'Times New Roman'; font-size: 10pt;">By order of the Board of Directors,</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zb053d8f4846f4af99e49373e8d877b68" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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              <div><img width="201" height="55" src="image00002.jpg"></div>
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            <td style="width: 100%; vertical-align: top;" rowspan="1">&#160;</td>
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              <div style="margin: 0px 0px 4pt; color: rgb(41, 98, 174); font-size: 8.5pt; font-weight: bold;">Marc A. Alpert</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Senior Vice President, General Counsel and Secretary</div>
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              <div style="font-family: 'Times New Roman'; font-size: 10pt;">Dated: April 1, 2020</div>
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                  <div style="font-size: 7pt; font-weight: bold;">60</div>
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                  <div style="font-size: 7pt; text-align: right;"><font style="color: rgb(68, 114, 196);">Loews</font><font style="font-weight: bold; color: rgb(68, 114, 196);"> Corporation</font><font style="font-family: 'Times New Roman'; color: rgb(68, 114, 196);">&#160;</font>2020 Proxy</div>
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                        <div style="margin-top: 4.5pt; color: rgb(35, 31, 32); font-size: 7pt; font-style: italic; font-weight: bold;">VOTE BY INTERNET</div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
                      <td style="width: 50%; vertical-align: top;">
                        <div style="margin: 0px 55.25pt 0px 0px; color: rgb(54, 52, 53); font-size: 10pt;"><font style="font-size: 7pt; font-style: italic;">Before The Meeting </font><font style="font-size: 7pt;">- Go to </font><u><font style="font-size: 7pt; font-weight: bold;">www.proxyvote.com</font></u></div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                        <div style="margin-top: 4.5pt; color: rgb(54, 52, 53); font-size: 5pt; font-style: italic;">LOEWS CORPORATION</div>
                        <div style="color: rgb(54, 52, 53); font-size: 5pt; font-style: italic;">667 MADISON AVENUE</div>
                        <div style="color: rgb(54, 52, 53); font-size: 5pt; font-style: italic;">NEW YORK, NY 10065-8087</div>
                        <div style="color: rgb(54, 52, 53); font-size: 5pt; font-style: italic; text-align: justify;">ATTN: INVESTOR RELATIONS</div>
                      </td>
                      <td style="width: 50%; vertical-align: top;">
                        <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time on May
                          11, 2020. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.</div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                        <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 10pt;"><font style="font-size: 7pt; font-style: italic;">During The Meeting </font><font style="font-size: 7pt;">- Go to </font><u><font style="font-size: 7pt; font-weight: bold;">www.virtualshareholdermeeting.com/L2020</font></u></div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                      <td style="width: 50%; vertical-align: top;">
                        <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">You may attend the meeting via the Internet and vote during the meeting. Have the information that is printed in the box marked by the
                          arrow available and follow the instructions.</div>
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                        <div style="text-align: justify; margin-right: 171.05pt; color: rgb(54, 52, 53); font-size: 7pt; font-weight: bold;">VOTE BY PHONE - 1-800-690-6903</div>
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                      <td style="width: 50%; vertical-align: top;">
                        <div style="margin: 0px 0.25pt 0px 0px; color: rgb(54, 52, 53); font-size: 7pt;">Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time on May 11, 2020. Have your proxy card in hand when
                          you call and then follow the instructions.</div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
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                        <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt; font-weight: bold;">VOTE BY MAIL</div>
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                      <td style="width: 50%; vertical-align: top;">
                        <div style="color: #363435; font-size: 7pt; text-align: justify;">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way,
                          Edgewood, NY 11717.</div>
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                        <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</div>
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                        <div style="text-align: right; color: rgb(54, 52, 53); font-size: 7pt;">D04564-P31497</div>
                      </td>
                      <td style="width: 50%; vertical-align: top; border-bottom: 2px dashed rgb(0, 0, 0);">
                        <div style="text-align: right; margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">KEEP THIS PORTION FOR YOUR RECORDS</div>
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                      <td style="width: 50%; vertical-align: top;">&#160;</td>
                      <td style="width: 50%; vertical-align: top;">
                        <div style="text-align: right; margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">DETACH AND RETURN THIS PORTION ONLY</div>
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                      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1e55358ad5c3442b86e8f1929f4ab8f3">

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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">LOEWS CORPORATION</div>
                            </td>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">The Board of Directors recommends you vote FOR the following proposals:</div>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
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                            <td style="width: 4%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1.</div>
                            </td>
                            <td colspan="5" style="vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Election of Directors</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Nominees:</div>
                            </td>
                            <td style="width: 10.2%; vertical-align: bottom;">
                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">For</div>
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                            <td style="width: 10.2%; vertical-align: bottom;">
                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Against</div>
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                            <td style="width: 10.2%; vertical-align: bottom;">
                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Abstain</div>
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                            <td style="width: 6%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1a.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Ann E. Berman</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1b.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Joseph L. Bower</div>
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                            <td style="width: 6%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1c.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Charles D. Davidson</div>
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                            <td style="width: 6%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1d.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Charles M. Diker</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1e.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Paul J. Fribourg</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1f.</div>
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                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Walter L. Harris</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">1g.</div>
                            </td>
                            <td style="width: 58%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Philip A. Laskawy</div>
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                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Against</div>
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                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Abstain</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Approve, on an advisory basis, executive compensation</div>
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                            </td>
                          </tr>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">3.</div>
                            </td>
                            <td style="width: 54%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Ratify Deloitte &amp; Touche LLP as independent auditors</div>
                            </td>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
                            </td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
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                            <td colspan="2" style="vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">The Board of Directors recommends you vote AGAINST the following proposal:</div>
                            </td>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
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                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">For</div>
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                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Against</div>
                            </td>
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                              <div style="text-align: center; color: #363435; font-family: Arial, sans-serif; font-size: 7pt; font-weight: bold;">Abstain</div>
                            </td>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">4.</div>
                            </td>
                            <td style="width: 54%; vertical-align: top;">
                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;">Shareholder proposal requesting certain disclosures regarding political contributions, if presented at the meeting</div>
                            </td>
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                              <div style="color: #000000; font-family: Arial, sans-serif;">&#160;</div>
                            </td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
                            <td style="width: 11%; vertical-align: top; text-align: center;"> &#9744;</td>
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                              <div style="color: #363435; font-family: Arial, sans-serif; font-size: 7pt;"><font style="font-weight: bold;">NOTE: </font>Such other business as may properly come before the meeting or any adjournment thereof.</div>
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                            <div>
                              <div style="color: #363435; font-size: 7pt;">Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each
                                sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.</div>
                            </div>
                          </td>
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                    <div> <br>
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                          <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(54, 52, 53); font-size: 7pt;">Signature [PLEASE SIGN WITHIN BOX]</div>
                          </td>
                          <td style="width: 10%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(54, 52, 53); font-size: 7pt;">Date</div>
                          </td>
                          <td style="width: 10%; vertical-align: top;">&#160;</td>
                          <td style="width: 25%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(54, 52, 53); font-size: 7pt;">Signature (Joint Owners)</div>
                          </td>
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                            <div style="margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">Date</div>
                          </td>
                          <td style="width: 20%; vertical-align: top;">&#160;</td>
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                <div><br>
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                <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" id="DSPFPageBreakArea">
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                  <div id="DSPFPageHeader" style="width: 100%;"><a href="#Contents"><font style="font-style: italic; font-weight: bold; font-size: 8pt;">Table of Contents</font></a></div>
                </div>
                <div style="text-align: center; margin-right: 67.95pt; margin-left: 67.95pt; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: center; margin-right: 67.95pt; margin-left: 67.95pt; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: center; margin-right: 67.95pt; margin-left: 67.95pt; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: center; margin-right: 67.95pt; margin-left: 67.95pt; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: center; margin-right: 67.95pt; margin-left: 67.95pt; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;">Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> The Notice and Proxy Statement, Annual Report and Annual Review Letter are available at </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;">www.proxyvote.com.</div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <div style="text-align: center; margin-right: 82.9pt; margin-left: 82.9pt; margin-top: 0.4pt; color: rgb(54, 52, 53); font-size: 10pt;"> <br>
                </div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z7c64e3a3d70d41eea29fff9795c9d8d7">

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                        <div style="text-align: right; margin-right: 0.25pt; margin-top: 1.7pt; color: rgb(54, 52, 53); font-size: 7pt;">D04565-P31497</div>
                      </td>
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                <div><br>
                </div>
                <div style="border: 2px solid #000000; padding: 5px; width: 99%;">
                  <div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> <br>
                    </div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> <br>
                    </div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> <br>
                    </div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;">LOEWS CORPORATION</div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> Annual Meeting of Shareholders</div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> May 12, 2020 11:00 A.M.</div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 12pt; font-weight: bold;"> This proxy is solicited by the Board of Directors</div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; color: rgb(54, 52, 53); font-size: 10pt;">The undersigned shareholder(s) hereby appoint(s) Marc A. Alpert, David B. Edelson and Kenneth I. Siegel, or any of them, as proxies, each with the power to
                      appoint his substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this proxy, all of the shares of Common Stock of LOEWS CORPORATION that the shareholder(s) is/are entitled to vote at
                      the Annual Meeting of Shareholders to be held at 11:00 A.M., New York City time on May 12, 2020, at www.virtualshareholdermeeting.com/L2020, and any adjournment or postponement thereof.</div>
                    <div style="margin-top: 0.5pt;"><br>
                    </div>
                    <div style="text-align: justify; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;">This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in
                      accordance with the Board of Directors' recommendations.</div>
                    <div style="margin-top: 0.2pt;"><br>
                    </div>
                    <div style="margin-top: 0.2pt;"><br>
                    </div>
                    <div style="margin-top: 0.2pt;"><br>
                    </div>
                    <div style="margin-top: 0.2pt;"><br>
                    </div>
                    <div style="margin-top: 0.2pt;"><br>
                    </div>
                    <div style="text-align: center; color: rgb(54, 52, 53); font-size: 10pt; font-weight: bold;">Continued and to be signed on reverse side</div>
                  </div>
                </div>
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<DOCUMENT>
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<FILENAME>image00003.jpg
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begin 644 image00003.jpg
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begin 644 image00004.jpg
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<DOCUMENT>
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<FILENAME>image00006.jpg
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begin 644 image00006.jpg
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end
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>image00007.jpg
<TEXT>
begin 644 image00007.jpg
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<DOCUMENT>
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<FILENAME>image00009.jpg
<TEXT>
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end
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<DOCUMENT>
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<SEQUENCE>9
<FILENAME>image00010.jpg
<TEXT>
begin 644 image00010.jpg
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end
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<DOCUMENT>
<TYPE>GRAPHIC
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<FILENAME>image00011.jpg
<TEXT>
begin 644 image00011.jpg
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>image00012.jpg
<TEXT>
begin 644 image00012.jpg
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<DOCUMENT>
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<FILENAME>image00014.jpg
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<DOCUMENT>
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<DOCUMENT>
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end
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</DOCUMENT>
</SEC-DOCUMENT>
