Christopher M. Condron
                                           President and Chief Executive Officer
                                           AXA Financial, Inc.
                                           1290 Avenue of the Americas
                                           New York, NY 10104


                                                              September 27, 2004


Mr. Stanley B. Tulin

RE:      AXA'S PERFORMANCE UNIT PLAN

Dear Stan:

       This is to confirm that, notwithstanding the terms of AXA's Performance
Unit Plan for 2004 and any subsequent years' performance unit or other long-term
incentive global equity plan established by AXA (collectively, the "Plan"), upon
your retirement (whether on or after the normal or any early retirement date)
from AXA Equitable Life Insurance Company ("AXA Equitable") under The Retirement
Plan for Employees, Managers and Agents, or any successor plan in which you are
then participating, AXA Equitable hereby agrees that you will be entitled to
cash payments (net of any applicable tax withholding) equal to the cash payments
you would have received under the Plan with respect to any performance or other
equity units initially granted to you that are forfeited under the Plan as a
result of such retirement.

       Such cash payments (1) shall be made at the time and in the amount that
the cash payments with respect to any such forfeited performance or other equity
units would have otherwise been made if you had continued in the employ of AXA
Equitable until the end of the relevant vesting period for any such performance
or other equity units and (2) shall not be considered compensation or salary for
purposes of any of the benefit plans of AXA Equitable and its affiliates.

                                                    Very truly yours,

                                                    /s/ Christopher M. Condron
                                                    ----------------------------
                                                    Christopher M. Condron



Acknowledged, Accepted and Agreed
to this 27 day of September, 2004

By:  /s/ Stanley B. Tulin
     ---------------------------
         Stanley B. Tulin