Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 55

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 55
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 discretionary annual bonuses, and will receive guaranteed payments of $11,100,000 per year in 2025 and 2026. Beginning January 1, 2026, Mr. Jacobs can transition to a consultant for a term of one year, and beginning April 1, 2027 his employment will be at-will. If Mr. Jacobs’ employment or service terminates before April 1, 2027 due to his death or disability or termination by Mr. Jacobs for “good reason,” Mr. Jacobs would be entitled to receive any discretionary annual bonus for the year of termination (prorated as applicable) and any unpaid guaranteed payments as if he had continued to be employed or had provided service through the applicable vesting or payment date. The guaranteed payments will also become immediately vested and payable in full in a lump sum upon the occurrence of a change of control.

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In addition, following a termination of Mr. Jacobs’ service for any reason other than for cause, Mr. Jacobs and his eligible dependents would be eligible for continued participation in our medical and dental benefits plans for the remainder of Mr. Jacobs’ life and that of his current spouse, with Mr. Jacobs or his spouse paying the full cost of all premiums associated with such coverage. CEO Pay Ratio Pursuant to Item 402(u) of Regulation S-K, presented below is the ratio of annual total compensation of our CEO to the median annual total compensation of all our employees (excluding our CEO). The employee who received this median annual total compensation is referred to below as our median employee. As of December 31, 2024, which is the date that we used to determine our employee population for purposes of identifying our median employee, we had 3,391 full-time, part-time, temporary and seasonal employees. We did not include independent contractors in our determination. In order to identify our median employee, we ranked each of our employees (other than our CEO) based on 2024 awarded compensation. For this purpose, 2024 awarded compensation was comprised of each employee’s (i) base salary or wages during 2024, (ii) annual cash bonus (if any) paid in respect of 2024 performance, and (iii) long-term incentive awards (if any) granted in respect of 2024 performance.