Specifies the directory where the MTA will store its log files. The default location is the mslocal directory in the directory specified by the /work switch. See Using MTA Log Files.
Typically you would find multiple log files in the specified directory. The first four characters represent the date. The next three identify the agent. A three-digit extension allows for multiple log files created on the same day. For example, a log file named 0518mta.001 would indicate that it is an MTA log file, created on May 18. If you restarted the MTA on the same day, a new log file would be started, named 0518mta.002.
See also /loglevel, /logdiskoff, /logdays, and /logmax.