LOEWS CORP
EXHIBIT 10.22
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<FILENAME>ex1022.txt
<DESCRIPTION>EXHIBIT 10.22
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                                                                 Exhibit 10.22
                                    [LOGO]

                                     LOEWS
                                  CORPORATION

                              As of January 1, 2002


Mr. Andrew H. Tisch
667 Madison Avenue
New York, New York  10021


Dear Mr. Tisch:

  Reference is made to your Employment Agreement with Loews Corporation (the
"Company"), dated January 1, 1999 (the "Employment Agreement").

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

  1.  Term of Employment.  The period of your employment under and pursuant to
      ------------------
the Employment Agreement is hereby extended for an additional period through
and including December 31, 2002 upon all the terms, conditions and provisions
of the Employment Agreement, as hereby amended.

  2.  Compensation.  You shall be paid as basic compensation (the "Basic
      ------------
Compensation") for your services to the Company and its subsidiaries under and
pursuant to the Employment Agreement a salary at the rate of Nine Hundred
Thousand ($900,000) Dollars per annum for the extension period January 1, 2002
through December 31, 2002. Basic Compensation shall be payable in accordance
with the Company's customary payroll practices as in effect from time to time,
and shall be subject to such increases as the Board of Directors of the
Company, in its sole discretion, may from time to time determine.

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

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

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


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


                                 Very truly yours,

                                 LOEWS CORPORATION



                                 By:    /s/ Barry Hirsch
                                    ---------------------------
                                           Barry Hirsch
                                       Senior Vice President


ACCEPTED AND AGREED TO:


    /s/ Andrew H. Tisch
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     Andrew H. Tisch







































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