Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 52

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 52
---
 event (such as a qualifying termination) in order to vest and (ii) the level of performance of PRPUs and PRSUs will be determined by the Compensation Committee based on the greater of (A) the target level or (B) the Company’s actual performance through the date of the change in control, and following the change of control the awards will remain subject only to the service or other vesting conditions through the original vesting dates (or an earlier qualifying termination). Any Stock Price PRPU for which the applicable stock price milestone was achieved based on the transaction price and a prorated portion of the tranche with the next highest stock price milestone above the transaction price based on a fraction (the numerator of which is the transaction price and the denominator of which is the stock price milestone applicable to such tranche) would each be earned, but would remain outstanding, subject to continued employment through the applicable tranche’s expiration date (or an earlier qualifying termination). Award Agreements – Retirement If an NEO had voluntarily resigned from the Company on December 31, 2024 without “good reason” or was terminated by the Company for “cause,” he or she would not have been entitled to receive any severance or prorated bonus payments from the Company, and, except in the case of retirement by Mr. Jacobs or Ms. Soto, any unvested long-term incentive awards would have been forfeited. Each of Mr. Jacobs and Ms. Soto was retirement-eligible as of December 31, 2024. If an NEO is retirement-eligible, he or she may retire without forfeiting his or her long-term incentive awards (other than following a change in control). If an NEO is retirement-eligible, Stock Price PRPUs will be forfeited to the extent unvested but the NEO may retire without forfeiting his or her LFIs, PIPRs, PRPUs (excluding Stock Price PRPUs) or PRSUs, which, in the case of the applicable PRPUs and PRSUs would remain subject to performance conditions for the duration of performance period (other than following a change in control). See “Deferred Compensation Retirement Policy” above. Following retirement (other than following a change in control), all such awards remain subject to compliance with restrictive covenants through their original vesting date, notwithstanding any shorter duration provided in award agreements. Award Agreements – Death, Disability, Non-CIC Termination Upon death, (i) all PIPRs, RSUs, and