Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 48

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 48
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 amounts relative to this benefit are immaterial and have not been included in the table. |

| (2) | Valuation of LFI awards is determined based on the dollar value of the relevant fund interest at the close of business on December 31, 2024. The table above assumes, with respect to the Stock Price PRPUs, that the first two Tranche-specific common stock price milestones have been achieved and the values shown (based on the closing price of our common stock on December 31, 2024) include the potential payout in connection with such qualifying event; but otherwise, no additional value has been assigned to Stock Price PRPUs in the table above because no stock price milestones have been met or would be met. The table above assumes, with respect to the PRPUs and PRSUs granted in 2022 in respect of fiscal year 2021 performance, that upon a |

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TABLE OF CONTENTS

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change in control and another customary event (such as a qualifying termination), the performance conditions and the payout level would be equal to 1.78 times the target level along with any unvested dividend amounts paid at 1.78 times the target level and interest on unpaid distributions from the date that the applicable dividend was paid to holders of our common stock until December 31, 2024 at 6% per annum, compounded quarterly, less any distributions received to pay related taxes on the income allocations.

| (3) | Pursuant to their retention agreements, in the event of an involuntary termination without “cause” or resignation for “good reason,” or upon termination due to death or disability, each NEO is entitled to a prorated portion of the average annual bonus (or, to the extent applicable, cash distributions, special retention awards (in the case of Mr. Orszag) and including any bonuses paid in the form of equity awards or LFI awards based on the grant date value of such awards in accordance with our normal valuation methodology, or at the target level, in the case of PRPUs or PRSUs) paid or payable to the executive for the two previously completed fiscal years. |

| (4) | Each of the NEOs is entitled to three months’ notice (or, if the Company elects, base salary in lieu of such notice period)