Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 44

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 44
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31 st, in the case of awards granted to Managing Directors, unless another date is set forth in the applicable award agreement. Similarly, following the retirement eligibility date, the service-based vesting criteria of the PRUs will no longer apply, but the

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TABLE OF CONTENTS

| Proxy   
 Summary |     | Governance |     | Executive    
 Compensation |     | Audit   
 Matters |     | Shareholder 
 Proposals   |     | General     
 Information |

performance-based vesting criteria will continue to apply through the end of the applicable performance period, including following the executive’s retirement during the performance period. Following retirement, the PIPRs, RSUs, PRUs, restricted stock and LFIs remain subject to all restrictive covenants, including continued compliance with non-compete, non-solicit, and other provisions contained in the original award agreement through the original vesting date of the relevant deferred compensation, notwithstanding any expiration date specified therein. Any dividends payable with respect to the PIPRs, RSUs, PRUs, and restricted stock are held in escrow until the forfeiture provisions lapse. A recipient of restricted stock is required to make an election under Section 83(b) of the Internal Revenue Code, which subjects him or her to taxation on such restricted stock on the date of grant. With the consent of the compliance department of the Company, a recipient may dispose of a portion of the restricted stock granted to him or her to pay such taxes. Mr. Jacobs and Ms. Soto are retirement-eligible. The retirement eligibility dates for Mr. Orszag, Ms. Betsch, and Mr. Russo are December 16, 2027, December 20, 2035 and August 2, 2030, respectively. Individual Agreements with Our NEOs The Company is party to retention agreements with each of its current NEOs. On November 22, 2024, the Company entered into a letter agreement with Mr. Jacobs that replaced his then-existing retention agreement (the “Jacobs Letter Agreement”) and provided that Mr. Jacobs’ standard compensation as Executive Chairman in 2024 would be determined in the ordinary course in accordance with the prior retention agreement. The individual agreements contain the terms and conditions set forth below. The retention agreements with each of our NEOs (other than Mr. Orszag) provide for a minimum annual base salary of $750,000. Pursuant to his retention agreement, Mr. Orszag’s minimum annual base salary is $900,000.