Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 54

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 54
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 any activity, or owns or controls a significant interest in any entity that engages in any activity, that competes with any activity in which we are engaged up to and including the date of termination of employment (a “competitive enterprise”); |

| • | acquire an ownership or voting interest of more than 5% in any competitive enterprise; or |

| • | solicit any of our clients on behalf of a competitive enterprise or reduce or refrain from doing business with us in connection with the performance of services that would be competing activities, or otherwise interfere with or damage (or attempt such acts in respect of) any client’s relationship with us. |

Nonsolicitation of Employees . While providing services to us (including during any period of notice of termination) and during the nine-month period following termination of the NEO’s services, the NEO may not, directly or indirectly, in any manner, solicit or hire any of our officers, agents or employees at the associate level or above to apply for, or accept employment with, any competitive enterprise, or otherwise interfere with any such officer’s, agent’s or employee’s relationship with us. Transfer of Client Relationships, Nondisparagement and Notice Period Restrictions . The NEO is required, upon termination of his or her services to us and during the 90-day period following termination, to take all actions and do all things reasonably requested by us to maintain for us the business, goodwill and business relationships with our clients with which he worked; provided that such actions and things do not materially interfere with other employment or professional activities of the NEO. In addition, while providing services to us and thereafter, the NEO generally may not disparage us and the Company generally may not disparage him or her, and before and during the three-month notice period prior to termination, the NEO is prohibited from entering into a written agreement to perform competing activities for a competitive enterprise. Letter Agreement with Mr. Jacobs Mr. Jacobs transitioned to Senior Chairman effective January 1, 2025. In connection with such transition, on November 22, 2024, the Company entered into the Jacobs Letter Agreement. The Jacobs Letter Agreement provides that for 2024, Mr. Jacobs’ standard compensation as Executive Chairman would be determined in the ordinary course in accordance with the prior retention agreement, but otherwise Mr. Jacobs would not be entitled to receive any payments or benefits under the prior retention agreement, including any severance payments or benefits. Under the Jacobs Letter Agreement, Mr. Jacobs will continue to receive his current base salary, will be eligible for