# EDGAR Filing Document

**Accession Number:** 0001596967
**File Stem:** 0001193125-25-137453
**Filing Date:** 2025-6
**Character Count:** 121937
**Document Hash:** 20eed75ea2bbfc17ec42ca6f233f8007
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-137453.hdr.sgml**: 20250609

**ACCESSION NUMBER**: 0001193125-25-137453

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20250608

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250609

**DATE AS OF CHANGE**: 20250609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Moelis & Co
- **CENTRAL INDEX KEY:** 0001596967
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 464500216
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36418
- **FILM NUMBER:** 251032862

**BUSINESS ADDRESS:**
- **STREET 1:** 399 PARK AVENUE, 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 883-3800

**MAIL ADDRESS:**
- **STREET 1:** 399 PARK AVENUE, 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): June 9, 2025 (June 8, 2025)

## Moelis & Company

#### (Exact name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-36418** | **46-4500216** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **399 Park Avenue**<br> **4th Floor** |  |
| **New York, New York** | **10022** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

#### Registrant's Telephone Number, Including Area Code: 212 883-3800

#### (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

#### Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Class A Common Stock | MC | The New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

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(c) On June 9, 2025, Moelis & Company (the "Company") announced that Ken Moelis, who has served as Chief Executive Officer of the Company since the Company's inception in 2007, will become Executive Chairman. Navid Mahmoodzadegan, Co-Founder and Co-President, will succeed Mr. Moelis as Chief Executive Officer and will also join the Board of Directors of the Company. Jeff Raich, Co-Founder and Co-President, has been appointed Executive Vice Chairman of Moelis and will continue to lead key business areas of the Firm. These changes will become effective on October 1, 2025 (the "Effective Date").

(e) The Compensation Committee of the Board of Directors (the "Compensation Committee") of the Company approved the grant of long term performance units (the "Performance Units") (which is a class of partnership interests in Moelis & Company Group Employee Holdings LP) under the Moelis & Company 2024 Omnibus Incentive Plan in the amount of 450,000 Performance Units ("the Performance Award") to Navid Mahmoodzadegan, in connection with his appointment as Chief Executive Officer. The grant date of the Performance Units was June 9, 2025 (the "Grant Date").

The Compensation Committee believes this performance based award promotes long-term shareholder value creation and alignment between our new CEO and our shareholders. The Performance Award is a one-time award and is not part of Mr. Mahmoodzadegan's regular annual compensation. The Performance Units are not retirement eligible.

The Performance Units are subject to <u>both</u> a performance condition and long term time-based vesting condition.

The performance vesting requirement for the Performance Units will be deemed satisfied to the extent that the Company's Class A common stock achieves the designated dividend-adjusted per-share prices listed in the table below, based on the volume-weighted average closing share price of the Company's Class A common stock over any 20 consecutive trading-day period ("20-day VWAP"). The number of Performance Units for which the performance condition set forth below has been met (the "Earned Units") will be determined (i) on a quarterly basis at the end of each fiscal quarter to occur after June 9, 2025 and (ii) as of and for the period ended on September 30, 2030 (the "End Date") (each such fiscal quarter end date, together with the period ending with the End Date, a "Measurement Date"), based on the highest 20-day VWAP to have been achieved at any time starting on the Grant Date and ending on the End Date, as follows:

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| | |
|:---|:---|
| Highest 20-day VWAP Between<br> Grant Date and End Date<br> (Dividend Adjusted)<sup>1</sup> | Aggregate Performance Units Granted<br>That Become Earned Units |
|  Less than $86.00 | 0 |
| $86.00 | 150000 |
| $115.00 | 300000 |
|  $144.00 or greater | 450000 |

---

If as of any Measurement Date, the highest 20-day VWAP is between $86.00-$144.00, then the percentage of the total Performance Units that will become Earned Units as of such time shall be determined by linear interpolation between the amounts set forth in the table above. The last Measurement Date will be the End Date. As a result of the reinvestment of dividends, the Performance Units may become Earned Units before the 20-Day VWAP of our Class A Common Stock achieves the dollar amount set forth above.

<sup>1</sup> Share price targets set forth below represent 50%, 100% and 150% dividend adjusted share price increase from the average share price for the five trading days from June 2, 2025 through June 6, 2025. 

------

The Performance Units satisfy the time-vesting requirement in equal installments on each of the third, fourth and fifth anniversaries of the Effective Date of the CEO appointment with certain vesting exceptions and forfeiture provisions provided in the applicable award agreement, such as change in control, death, disability and termination without cause.

This summary of the Performance Award is qualified in its entirety by reference to the form of 2025 Performance Award Agreement (a copy of which is attached hereto as Exhibit 10.3) and to the Moelis & Company 2024 Omnibus Incentive Plan (which is attached as Annex B to the Company's Definitive Proxy Statement on Schedule 14A filed on April 25, 2024).

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.**  |

---

On June 9, 2025, the Company issued a press release announcing the described above appointments.

A copy of the press release is attached hereto as Exhibit 99.1. All information in the press release is furnished but not filed.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

---

(d) Exhibits:

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| | |
|:---|:---|
| Exhibit Number | Description |
| 99.1 | [Press Release of Moelis & Company dated June 9, 2025](d10407dex991.htm) |
| 10.1 | [Amendment dated June 9, 2025 to Employment Agreement, dated April 15, 2014, by and among Kenneth Moelis, Moelis & Company Group LP and the Registrant (incorporated by reference to Exhibit 10.10 to the Registrant's Current Report on Form 8K filed with the SEC on April 22, 2014)](d10407dex101.htm) |
| 10.2 | [Employment Agreement, dated June 9, 2025, by and among Navid Mahmoodzadegan, Moelis & Company Group LP and the Registrant](d10407dex102.htm) |
| 10.3 | [Form of Moelis & Company Group Employee Holdings LP 2025 Performance Award Agreement](d10407dex103.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| MOELIS & COMPANY | MOELIS & COMPANY |
| By: | /s/ Osamu Watanabe |
|  | Name: Osamu Watanabe |
|  | Title: General Counsel and Secretary |

---

Date: June 9, 2025

## Exhibit 10.1

**Exhibit 10.1** 

**<u>SECOND AMENDMENT</u>**

Reference is hereby made to that Employment Agreement (the "<u>Agreement</u>"), dated as of April 15, 2014, made by and between Moelis & Company (together with any successor thereto, "<u>Moelis</u> <u>& Company</u>"), a Delaware corporation and Moelis & Company Group LP (together with any successor thereto, "<u>Group LP</u>" and together with Moelis & Company, the "<u>Company</u>") and Ken Moelis (the "<u>Executive</u>") and amended on December 19, 2019. Defined terms used herein shall have the meaning assigned in the Agreement unless otherwise defined herein (the "<u>Amendment</u>").

The Company and the Executive hereby agree to amend certain of the Agreement provisions as set forth below in connection with the Executive's appoint as Executive Chairman ("Executive Chairman"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Section</u> <u>2(c) of the Agreement shall be replaced in its entirety with the following:</u> 

<u>Position and Duties</u>. The Executive shall serve, effective October 1, 2025 (the "Effective Date"), as Executive Chairman of the Company and as Chairman of the Board of Directors of Moelis & Company (the "Board") with such customary responsibilities, duties and authority as the Board may from time to time assign to the Executive. The Executive will report directly to the Board. The Executive shall devote his primary business time and efforts to the business and affairs of the Company (which may include service to the Company's affiliates); provided it is understood that (i) the Executive may manage the Executive's personal investments, (ii) the Executive may continue to serve as a member of any board of directors or in any similar position of any business entity or any charitable organization on or in which Executive serves as of the Effective Date which have been previously disclosed to and approved by the Company, (iii) subject to the prior approval of the Board (which shall not be unreasonably withheld), the Executive may serve as a member of any additional board of directors or in any additional similar position of any business corporation or any charitable organization; provided in each case, and in the aggregate, that such activities do not conflict or materially interfere with the performance of Executive's duties hereunder or conflict with Section 3 of this Agreement, and (iv) the Executive may continue to act as managing member for Moelis Asset Management LP. The Executive agrees to observe and comply with the rules and policies of the Company as adopted by the Company from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Section</u> <u>3(a) of the Agreement shall be replaced in its entirety with the following:</u> 

<u>Notice of Termination by Executive</u>. It is reasonable and necessary to provide a smooth transition if the Executive chooses to leave the Company. Consequently, the Executive agrees to provide the Company with 180 days prior written notice of his intent to terminate his employment (the "Notice Period"); provided that such Notice Period will not apply if the Executive terminates his employment for Good Reason. The Company may elect to place the Executive on paid leave for all or any part of such Notice Period.

*(Signatures on the following page)* 

------

---

| | |
|:---|:---|
|  Moelis & Company | Moelis & Company |
|  By: | /s/ Kate Pilcher Ciafone |
|  Name: Kate Pilcher Ciafone | Name: Kate Pilcher Ciafone |
|  Title: Chief Operating Officer | Title: Chief Operating Officer |
|  Moelis & Company Group LP | Moelis & Company Group LP |
|  By: | /s/ Kate Pilcher Ciafone |
|  Name: Kate Pilcher Ciafone | Name: Kate Pilcher Ciafone |
|  Title: Chief Operating Officer | Title: Chief Operating Officer |
|  Accepted and Agreed: | Accepted and Agreed: |
|  By: | /s/ Ken Moelis |
|  Name: Ken Moelis | Name: Ken Moelis |
|  Title: CEO and Chairman | Title: CEO and Chairman |

---

## Exhibit 10.2

**Exhibit 10.2** 

**<u>Employment Agreement</u>**

This Employment Agreement (the "<u>Agreement</u>"), dated as of June 9, 2025 is made by and between Moelis & Company (together with any successor thereto, "<u>Moelis</u> <u>& Company</u>"), a Delaware corporation and Moelis & Company Group LP (together with any successor thereto, "<u>Group LP</u>" and together with Moelis & Company, the "<u>Company</u>") and Navid Mahmoodzadegan (the "<u>Executive</u>").

**<u>1.</u>**  **<u>Employment</u> *.*** 

(a) <u>General</u>. The Company will employ the Executive commencing on the Effective Date (as defined below) on
the terms and conditions herein provided, and the Executive hereby accepts and agrees to such employment with the Company commencing on the Effective Date. The " <u>Effective Date</u> " shall mean October 1, 2025. The Executive's
primary office is Los Angeles, CA.

(b) <u>At-Will Employment</u>. The Executive's employment with the
Company will be "at-will" employment and either party may terminate it at any time with or without " <u>Cause</u> " (as defined in the Company's 2024 Omnibus Incentive Plan (the
"Plan") and all references herein to Cause shall be as such term is defined in the Plan). The Company may terminate the employment of the Executive at any time without notice and without cause; <u>provided</u> that such termination shall
be effective no later than 90 days after it gives any notice. Neither the Executive's job performance nor promotions, commendations, bonuses or any other positive treatment by the Company give rise to or in any way serve as the basis for
modification or amendment of the at-will nature of the employment. The period of the Executive's employment with the Company under this Agreement is the " <u>Employment Period</u>."

(c) <u>Position and Duties</u>. The Executive shall serve as Chief Executive Officer of the Company with such
customary responsibilities, duties and authority as the Board may from time to time assign to the Executive. The Executive will report directly to the Board. Except as the Company otherwise approves in writing, the Executive shall devote their full
business time and efforts to the business and affairs of the Company (which may include service to the Company's affiliates) and, during the Employment Period, shall not undertake any additional activities without the advance approval of the
Company provided it is understood that (i) the Executive may manage the Executive's personal investments, (ii) the Executive may continue to serve as a member of any board of directors or in any similar position of any charitable
organization subject to the prior approval of the Company (which shall not be unreasonably withheld); provided in each case, and in the aggregate, that such activities do not conflict or materially interfere with the performance of Executive's
duties hereunder or conflict with <u>Section</u> <u>3</u> of this Agreement. The Executive agrees to observe and comply with the rules and policies of the Company as adopted by the Company from time to time, including, without
limitation, the Company's New York Stock Exchange required Clawback Policy filed as Exhibit 10.24 to the Company's Form 10-K on February 22, 2024 and the provisions of Section 26(b) of the
Plan as set forth in any equity award agreements.

(d) <u>Registration Requirements</u>. The Executive agrees that the Executive has the FINRA Series 79, 7, 24 and 63
licenses; provided the Executive will have 90 days from the Effective Date to pass any such relevant examination required to obtain any of the foregoing licenses that the Executive prior to executing this Agreement informed the Company the Executive
has not passed or has been deemed inactive by FINRA. During employment, the Executive will be subject to the Company's compliance policies and applicable regulatory rules which may require additional registrations.

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(e) <u>Tax Status; Withholding</u>. The parties acknowledge and agree that all of the compensation and benefits
provided to the Executive hereunder will be in respect of services performed by the Executive for Group LP. Currently, for tax purposes the Executive is treated as a partner of Group LP and therefore is self-employed for federal, state and, if
applicable, local tax purposes. Accordingly, the Executive is responsible for all self-employment and income taxes, and the Company will not withhold any taxes from any payments under this Agreement for so long as the Executive is a limited partner
of Group LP or a member of its affiliate Moelis & Company Partner Holdings LLC, unless the Company becomes required to withhold for taxes. The Company shall be entitled to rely on advice of counsel if any questions as to the amount or
requirement of withholding shall arise. The Company will provide the Executive with written notice of any decision to withhold under this Section 1(d). In the event the Company's failure to withhold causes the Executive to pay interest or
penalties or to incur out-of-pocket costs and expenses in connection with filing or amending a tax return, the Company will reimburse the Executive for such interest,
penalties and/or out-of-pocket costs and expenses to the extent the Company has agreed to reimburse any other executive of the Company who is also a limited partner of
Group LP or a member of its affiliate Moelis & Company Partner Holdings LLC for such similar interest, penalties and/or out-of-pocket costs and expenses.

**<u>2.</u>**  **<u>Compensation and Related Matters</u> *.*** 

(a) <u>Base Salary</u>. During the Employment Period, the Company will pay the Executive base compensation
(" <u>Base Salary</u> ") equal to $400,000 annually, paid in semi-monthly installments in accordance with the customary payroll practices of the Company, subject to adjustment, if and as determined by the Company provided any reduction shall
be applicable generally to a majority of Managing Directors of the Company in the United States.

(b) <u>Annual Discretionary Incentive Compensation</u>. During the Employment Period, the Executive may be eligible
for annual discretionary incentive compensation, subject to approval of the Compensation Committee and satisfaction of the Board with the performance of the Executive and the Company's overall performance. The amount of any annual incentive
compensation is at the Company's sole discretion. The Company will pay any such annual discretionary incentive compensation at the same time or times and subject to the same conditions (such as repayment upon the Executive's resignation
prior to specified dates) as payments to other Managing Directors in the United States generally.

(c) <u>Benefits</u>. To the extent permitted under the terms thereof, the Executive shall be entitled to
participate in employee benefit plans, programs and arrangements of the Company, as in effect from time to time, including the Company's medical and dental insurance plans and 401(k) plan that apply to similarly situated US Managing Director of
the Company.

(d) <u>Expenses</u>. The Company shall reimburse the Executive for all reasonable travel and other business
expenses properly incurred in the performance of the Executive's duties to the Company and in accordance with the Company's expense reimbursement policies.

(e) <u>Vacation</u>. The Executive shall be entitled to paid vacation in accordance with the Company's
vacation policies applicable generally to US Managing Directors. The Executive will take vacation at the Executive's and the Company's reasonable and mutual convenience.

(f) <u>Aircraft</u>. The Company shall reimburse the Executive for the reasonable cost of his business use of
a private aircraft.

**<u>3.</u>**  **<u>Termination</u>.** 

(a) <u>Notice of Termination by Executive</u>. It is reasonable and necessary to provide a smooth transition if the
Executive chooses to leave the Company. Consequently, the Executive agrees to provide the Company with 180 days prior written notice of intent to terminate employment (the " <u>Notice Period</u> "). The Company may elect to place the
Executive on paid leave for, or waive, all or any part of such Notice Period.

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(b) <u>Effect of Notice of Termination</u>. The Executive will remain eligible for any annual incentive
compensation only to the extent the Executive is an active full-time employee of the Company on the payment or grant date or vesting date and (a) the Executive has not given notice of intent to voluntarily terminate employment prior to such
applicable payment or grant date or vesting date, and (b) the Company has not given the Executive notice of its intent to terminate the Executive prior to such applicable payment or grant date or vesting date.

**<u>4.</u>**  **<u>Restrictive Covenants</u> *.*** 

(a) <u>Non-Compete</u>. Except as the Company otherwise agrees, the
Executive shall not during the Employment Period and, if the Executive terminates Executive's employment under this agreement or if the Executive's employment is terminated for Cause, for 90 days after such termination, directly or
indirectly provide services to, engage in, have any equity interest in, or manage or operate any Competitive Enterprise (as defined below); <u>provided</u>, <u>however</u>,  **** ** that the Executive shall be permitted to acquire a passive
equity interest in such a Competitive Enterprise provided (i) the Executive notifies the Company of any such investment in accordance with the Company's notification policies in effect from time to time and (ii) the interest acquired
is not more than one percent (1%) of such Competitive Enterprise's outstanding equity interests.

(b) <u>Non-Solicit of Clients</u>. During the Employment Period and for a
period of twelve months following immediately after the termination or expiration of the Employment Period, the Executive shall not, directly or indirectly, (i) Solicit (as defined below) any Client(as defined below) to transact business with a
Competitive Enterprise (as defined below) or to reduce or refrain from doing business with the Company or any Affiliate thereof or (ii) interfere with or damage (or attempts to interfere with or damage) any relationship between the Company or
an Affiliate thereof and any Client.

(c) <u>Non-Solicit of Employees and Others</u>. During the Employment
Period and for a period of twelve months following immediately after the termination or expiration of the Employment Period, the Executive shall not, directly or indirectly, recruit or otherwise solicit, encourage or induce any limited partner,
employee, independent contractor, consultant, service provider or supplier of the Company (i) to terminate their or its employment or arrangement with the Company, or (ii) to otherwise change their or its relationship with the Company.

(d) " <u>Client</u> " means any client or prospective client of the Company or an Affiliate thereof
(i) to whom the Executive provided services, for whom the Executive transacted business or for whom the Executive solicited the business of such client or prospective client during the prior two-year period (or, following termination of your employment, within two years preceding the date your employment with the Company terminated) or (ii) whose senior personnel the Executive first met or the Executive was introduced or reintroduced to
during the Executive's relationship with or employment by the Company or an Affiliate thereof. " <u>Competitive Enterprise</u> " means any business enterprise that is engaged, or owns or controls a significant interest in any entity
that is engaged, in either case, primarily or in any substantial manner in any place in the world in (x) investment banking or securities activities or financial services, including, without limitation, private equity, hedge fund, special
purpose acquisition company (SPAC) or other asset or investment management businesses, or (y) any business activities in which the Company and/or its affiliates are engaged primarily or in any substantial manner. " <u>Solicit</u> "
means any direct or indirect communication of any kind whatsoever, regardless of by whom initiated, inviting, advising, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action.

------

(e) <u>Non-Disparagement</u>. Except pursuant to Section 5 herein, the
Executive agrees that, during the Employment Period and at all times thereafter, the Executive will not disparage in any material respect the Company, any of its products or practices, or any of its directors, officers, agents, representatives,
stockholders or affiliates, either orally or in writing. The Company agrees that during the same period set forth in the foregoing sentence, it will direct the members of its Executive Committee not to disparage in any material respect the Executive
except as required by law, legal process, government investigation, to enforce this agreement or as otherwise protected by applicable law.

**<u>5.</u>**  **<u>Nondisclosure of Proprietary Information</u> *.*** 

(a) Except in connection with the good faith performance of the Executive's duties hereunder or pursuant to <u>Section</u> <u>5(c), (d), (e) and (f)</u>, the Executive shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish, or use for the Executive's benefit or
the benefit of any person, firm, corporation or other entity any confidential or proprietary information or trade secrets or intellectual property of, from or relating to the Company (including, without limitation, information, documents, techniques
or other know-how or materials owned, developed or possessed by the Company, whether in tangible or intangible form, the terms of this Agreement, any information with respect to the Company's operations,
processes, protocols, products, inventions, business practices, investment performance, "track record," finances, principals, business partners, investors, clients, personnel, strategic planning, portfolio investments and/or companies,
service providers, vendors, suppliers, customers, potential customers, marketing methods, costs, prices, contractual relationships, regulatory status, prospects, and any and all information of any nature relating to the Company and its affiliates,
including any vehicle(s) formed in connection therewith or as a successor thereto) (collectively, " <u>Proprietary Information</u> "), or deliver to any person, firm, corporation or other entity any document, record, notebook, computer
program or similar repository of or containing any such Proprietary Information. The foregoing matters are important, material and confidential proprietary information and trade secrets and affect the successful conduct of the businesses of the
Company (and any successor or assignee of the Company). Notwithstanding the foregoing, Proprietary Information does not include information that (i) becomes publicly available (other than by disclosure or other wrongful act by the Executive),
(ii) is contained in a publicly available document, (iii) was known to the Executive before the Executive commenced employment with the Company, or (iv) is required to be disclosed by law or regulation. The Executive acknowledges that it
is reasonable and necessary for the Company to take these reasonable steps to maintain the confidentiality of its Proprietary Information.

(b) Upon termination of the Executive's employment with the Company for any reason, the Executive will
promptly deliver to the Company all correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, computer disk drives, flash drives, disks, or any other materials concerning the Proprietary
Information in their possession.

(c) Notwithstanding any provision of this Agreement, you are authorized to make disclosures as permitted under this
Section 5(c)-(f). To the extent the provision of any other agreement or policy related to your employment with the Company is in conflict with the provisions of this Section 5(c)-(f) the provisions of this section shall control. The
Executive may provide truthful information and documents when required by law or regulation, to comply with a lawful and valid subpoena or other legal process but shall: (i) give the Company the earliest possible notice thereof to the extent
the requirement for the Executive to provide prompt notice to the Company is not prohibited by law or regulation, (ii) as much in advance of the return date as possible, make available to the Company and its counsel the documents and other
information sought (iii) assist such counsel at Company's expense in resisting or otherwise responding to such process and (iv) only disclose such portions of Proprietary Information as is legally required.

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(d) Notwithstanding the foregoing, nothing in this Agreement prohibits or restricts the Executive, to the extent
such prohibition or restriction is prohibited by any law or regulation, from reporting possible violations of federal, state, or local law or regulation to, discussing any such possible violations with, or filing a charge or complaint with or
participating in any investigation or proceeding conducted by, any federal, state, or local government agency or self-regulatory organization, the New York Attorney General or law enforcement, including by initiating communications directly with,
responding to any inquiry from, or providing testimony before any federal, state, or local regulatory authority or agency, including without limitation the Securities and Exchange Commission and the Financial Industry Regulatory Authority, or making
any other disclosures that are protected by the whistleblower provisions of any federal, state, or local law or regulation, or to speak with an attorney retained by the Executive. Prior authorization of the Company is not required to make any of the
above referenced reports, disclosures or communications, and Executive is not required to notify the Company that the Executive has made or intends to make such reports, disclosures or communications and any such reports, disclosures or
communications are not limited by any obligation contained in this Agreement.

(e) Misappropriation of a trade secret of the Company in breach of this letter or any other agreement with or
policy of the Company, may subject the Executive to criminal liability under the Defend Trade Secrets Act of 2016 (the "DTSA"), entitle the Company to injunctive relief, and require the Executive to pay compensatory damages, double
damages, and attorneys' fees. Notwithstanding any other provision of this letter, the Executive is hereby notified in accordance with the DTSA that the Executive will not be held criminally or civilly liable under any federal or state trade
secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, in each case solely for the purpose of reporting or
investigating a suspected violation of law; or (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. The Executive is further notified that if the Executive files a lawsuit for
retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the Company's trade secrets to their attorney and use the trade secret information in the court proceeding if the Executive: (i) files any
document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.

(f) Nothing in this Agreement shall prohibit the Executive from (i) disclosing information and documents to
their attorney or tax adviser for the purpose of securing legal or tax advice, (ii) disclosing the post-employment restrictions in this Agreement in confidence to any potential new employer, or (iii) retaining, at any time, their personal
correspondence, compensation information their personal rolodex and documents related to their own compensation, personal benefits, entitlements and obligations.

**<u>6.</u>**  **<u>Inventions and Other Works</u> *.*** 

During the Employment Period, the Executive may either alone or with others, author, create, conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, or assist in the authoring, creation, conception, development or reduction to practice of documents, materials, designs, drawings, processes, Proprietary Information and other works which relate to the Business or are otherwise capable of being used by the Company or any such affiliates ("<u>Works</u>"). The Executive agrees that any and all Works and the related intellectual property and other rights in those Works including, without limitation, inventions, patents, copyrights, mask works, design rights, database rights, trademarks, service marks, internet rights/domain names, trade secrets and know-how (whether registered or unregistered and including any applications or rights to apply) subsisting anywhere in the world in any and all media now existing or hereafter created (collectively, "<u>Works IP Rights</u>") will belong solely to and be the absolute property of the Company. The Executive agrees that all original works of authorship which are made by the Executive (solely or jointly with others) within the scope of and during the period of employment with the Company and which are protected by copyright are

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"works made for hire," as that term is defined in the United States Copyright Act. The Executive hereby assigns with full title guarantee to the Company by way of present assignment all Works IP Rights, all Intellectual Property Rights in the Works. The Executive hereby irrevocably and unconditionally waives any moral rights which the Executive may have in any Works. The Executive shall immediately disclose to the Company all Works and all Works IP Rights, and shall immediately on request by the Company (whether during or after the termination of the Employment Period) and at the expense of the Company execute all instruments and do all things necessary for vesting in the Company (or such other person as the Company may designate) all right, title and interest to and in the Works and Works IP Rights and as otherwise necessary for giving to the Company the full benefit of this clause. The Executive further agrees that their obligation to execute or cause to be executed, when it is in the Executive's power to do so, any such instrument or papers shall continue after the termination of this Agreement.

**<u>7.</u>** **[Intentionally Omitted].** 

**<u>8.</u>**  **<u>Injunctive Relief</u> *.*** 

The Executive understands that a breach of the covenants contained in <u>Sections 3, 4 and 5</u> will cause irreparable damage to the Company and its goodwill, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such breach will be inadequate. Accordingly, the Executive agrees that in the event of a breach of any of the covenants contained in <u>Sections 3, 4 and 5</u>, in addition to any other remedy which may be available at law or in equity, the Company will be entitled to specific performance and injunctive relief, without having to post a bond or other surety. The Executive agrees not to raise as a defense or objection to the request or granting of such relief that the Executive could compensate the Company for a breach of this Agreement by an award of money damages, and the Executive waives any requirements for the securing or posting of any bond in connection with such remedy.

**<u>9.</u>**  **<u>Assignment and Successors</u> *.*** 

The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or the assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as security for indebtedness of the Company and its affiliates. In addition, the Company may delegate its rights to determine any discretionary incentive compensation referred to above to its subsidiary Moelis & Company LLC. This Agreement shall be binding upon and inure to the benefit of the Company, the Executive and their respective successors, assigns, personnel and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. The Executive may not assign, delegate or transfer any of the Executive's rights or obligations, other than the Executive's rights to payments hereunder, which may be transferred only by will or operation of law. Notwithstanding the foregoing, the Executive shall be entitled, to the extent permitted under applicable law and the applicable benefit plans, programs and arrangements described under <u>Section</u> <u>2(c)</u>, to select and change a beneficiary or beneficiaries to receive compensation hereunder following the Executive's death by giving written notice thereof to the Company.

**<u>10.</u>**  **<u>Governing Law</u> *.*** 

This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms, and otherwise in accordance with the substantive laws of the state of New York, without reference to the principles of conflicts of law or choice of law of the state of New York, or any other jurisdiction, and where applicable, the laws of the United States.

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**<u>11.</u>**  **<u>Notices</u> *.*** 

Any notice, request, claim, demand, document or other communication hereunder to either party shall be effective upon receipt (or refusal of receipt) and shall be in writing and (a) delivered personally to the person or to an officer of the person to whom the same is directed, (b) sent by facsimile, overnight mail or registered or certified mail, return receipt requested, postage prepaid, or (c) sent by email, with electronic, written or oral confirmation of receipt, in accordance with the following sentence. Such communication, in the case of the Company, shall be mailed to its principal office, and in the case of the Executive: (i) if the Executive is then employed by the Company, shall be emailed to the Executive at the Executive's "@moelis.com" email address, and (ii) if the Executive is no longer employed by the Company, shall be mailed to the Executive's most recent home address or emailed to the Executive's most recently disclosed personal email address, in either case as the Executive has provided the Company in writing.

**<u>12.</u>**  **<u>Counterparts</u> *.*** 

This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement. Signatures delivered by facsimile, email or in PDF format shall be deemed effective for all purposes.

**<u>13.</u>**  **<u>Entire Agreement</u> *.*** 

This Agreement is intended by the parties to be the final expression of their agreement with respect to the employment of the Executive by the Company and supersede all prior understandings and agreements, whether written or oral. The parties further intend that this Agreement shall constitute the complete and exclusive statement of the terms of this Agreement and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement.

**<u>14.</u>**  **<u>Amendments; Waivers</u> *.*** 

This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by the Executive and a duly authorized officer of the Company. By an instrument in writing similarly executed, the Executive or a duly authorized officer of the Company may waive compliance by the other party or parties with any specifically identified provision of this Agreement that such other party was or is obligated to comply with or perform; <u>provided</u>*,* <u>however</u>*,* that such waiver shall not operate as a waiver of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy, or power hereunder shall preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity. Except as otherwise set forth in this Agreement, the respective rights and obligations of the parties under this Agreement shall survive any termination of the Executive's employment.

**<u>15.</u>**  **<u>Construction</u> *.*** 

This Agreement shall be deemed drafted equally by both the parties. Its language shall be construed as a whole and according to its fair meaning. Any presumption or principle that the language is to be construed against any party shall not apply.

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**<u>16.</u>**  **<u>Arbitration</u> *.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as expressly provided in paragraphs (b), (c) and (d), if any claim, controversy or dispute arises in connection with the Executive's employment, the cessation of employment or the interpretation of this Agreement, the Executive and the Company agree to final and binding arbitration of any and all such claims, controversies or disputes before a neutral panel of the Financial Industry Regulatory Authority ("FINRA") (pursuant to its rules, including those related to discovery) at a FINRA hearing site located nearest to the Company office at which the Executive is employed or was employed as of the date the Executive's employment terminated; in the event FINRA declines jurisdiction in connection with any such claim, controversy or dispute, the Executive and the Company agree instead to final and binding arbitration administered by JAMS pursuant to its Employment Arbitration Rules & Procedures and subject to JAMS Policy on Employment Arbitration Minimum Standards of Procedural Fairness at a JAMS hearing site located nearest to the Company office at which the Executive is employed or were employed as of the date the Executive's employment terminated. This agreement to arbitrate disputes includes, but is not limited to, any claims of discrimination and/or harassment under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the California Fair Employment and Housing Act, as amended, the California Labor Code, as amended, California Uniform Trade Secrets Act, the California Family Rights Act, claims for breach of contract or the implied covenant of good faith and fair dealing, tortious conduct (whether intentional or negligent), including claims of misappropriation, fraud, conversion, interference with economic advantage or contract, breach of fiduciary duty, misrepresentation, or any other federal, state or local law relating to discrimination in employment, any claims relating to wage and hour claims and any other statutory or common law claims. In the course of any arbitration, the Executive and the Company agree: (i) to request that a written award be issued by the panel, and (ii) that each side is entitled to receive any and all relief they would be entitled to receive in a court proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Executive and the Company knowingly and voluntarily agree to waive any rights that might otherwise exist to request a jury trial or other court proceeding, except that the Executive and the Company agree that each has the right to seek injunctive or other equitable relief from a court pending arbitration consistent with the California Arbitration Act, California Code of Civil Procedure Section 1281.8(b), with respect to the enforcement of any obligations the Executive may have regarding any notice period the Company is entitled to, trade secrets, confidential information, non- solicitation of employees, consultants or independent contractors, non-solicitation of clients or customers, non-competition, inventions, work product or other intellectual property and non- disparagement (whether such obligations arise pursuant to this Agreement, the Code of Conduct, Code of Ethics, the Employment Manual, any Company policy, any employment agreement, any confidentiality and/or restrictive covenant agreement, the common law or otherwise).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any claims filed by the parties in arbitration must be brought in the parties' individual capacity and not as a plaintiff or class member in any purported class, collective or representative proceeding. In the event that the preceding sentence is ruled to be unenforceable, any such purported class, collective or representative proceeding must be heard in court and not in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding the above, in accordance with the Federal Arbitration Act, 9 USC § 401 et. seq., if the Executive is (i) alleging conduct constituting a sexual harassment dispute or sexual assault dispute, or (ii) the named representative of a class or in a collective action alleging such conduct, then the Executive may elect to forgo arbitration and file in court a case which is filed under Federal, Tribal, or State law and relates to the sexual assault dispute or the sexual harassment dispute.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent the Executive or the Company may bring an action in court, any such court action must be brought in a court situated in the City, County and State of New York, and the Executive and the Company each consents and submits to the jurisdiction of such courts for any such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each provision of this arbitration agreement is intended to be severable, and the invalidity or unenforceability of any portion or provision of this agreement shall not affect the validity, enforceability or legality of the remainder hereof. In the event any provision of this arbitration agreement is determined by any court of competent jurisdiction or arbitrator(s) to be illegal, invalid or unenforceable as written, such provision shall be interpreted so as to be legal, valid and enforceable to the fullest extent possible under applicable law. In the event any provision of this arbitration agreement is determined by a court of competent jurisdiction or arbitrator(s) to be void, the remaining provisions of this arbitration agreement shall nevertheless be binding upon the parties with the same effect as though the void provision thereof had been severed and deleted.

**<u>17.</u>**  **<u>Enforcement</u> *.*** 

If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

**<u>18.</u>**  **<u>Executive Acknowledgement</u> *.*** 

The Executive acknowledges that the Executive has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations or promises made by the Company other than those contained in writing herein, and has entered into this Agreement freely based on their own judgment.

The Executive further acknowledges that the Executive will be bound by the terms and conditions contained in the Company's employee handbook, as it may be amended from time to time and will, upon request of the General Partner, sign a copy thereof from time to time.

You have consulted with [your attorney] regarding the Restrictive Covenants set forth in Sections 3, 4 and 5 and you acknowledge, understand and agree to the terms of the Restrictive Covenants and other covenants described above and that they may limit your ability to earn a livelihood in a Competitive Enterprise or otherwise, that this Agreement provides you with substantial compensation and other benefits as consideration for the Restrictive Covenants and other covenants described above, and that the Company would not enter into this Agreement if you did not agree to the provisions set forth herein in the Restrictive Covenants and other covenants described above.

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**<u>19.</u>**  **<u>Section</u> <u>409A</u> *.*** 

It is the intent of the parties that the payments and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance issued thereunder ("<u>Section</u> <u>409A</u>") (except to the extent exempt as short term deferrals or otherwise) and accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. In the event that following the Effective Date the Company reasonably determines that any compensation or benefits payable under this Agreement may be subject to Section 409A, the Company and Executive shall work together to adopt such amendments to this Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect), or take any other commercially reasonable actions necessary or appropriate to exempt the compensation and benefits payable under this Agreement from Section 409A and/or preserve the intended tax treatment of the compensation and benefits provided with respect to this Agreement. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement or any other arrangement between the Executive and the Company or its affiliates during the six-month period immediately following the Executive's separation from service shall instead be paid on the first business day after the date that is six months following the Executive's separation from service (or, if earlier, the Executive's date of death). To the extent required to avoid an accelerated or additional tax under Section 409A, amounts reimbursable to the Executive under this Agreement shall be paid to the Executive on or before the last day of the year following the year in which the expense was incurred, and the amount of expenses eligible for reimbursement (and in kind benefits provided to the Executive) during one year may not affect amounts reimbursable or provided in any subsequent year. The Company makes no representation that any or all of the payments and benefits described in this Agreement will be exempt from or comply with Section 409A and, except to the extent provided in this Section 19, makes no undertaking to preclude Section 409A from applying to any such payment. The Executive shall be solely responsible for the payment of any taxes and penalties incurred under 409A or any other provision of the Code.

*[Signature Page Follows]* 

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IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year first above written.

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| | |
|:---|:---|
| **Moelis & Company** | **Moelis & Company** |
| By: | /s/ Kate Pilcher Ciafone |
| Name: | Kate Pilcher Ciafone |
| Title: | Chief Operating Officer |
| **Moelis & Company Group LP** | **Moelis & Company Group LP** |
| By: | /s/ Kate Pilcher Ciafone |
| Name: | Kate Pilcher Ciafone |
| Title: | Chief Operating Officer |

---

---

| |
|:---|
| **EXECUTIVE** |
| /s/ Navid Mahmoodzadegan |
| Navid Mahmoodzadegan |

---

## Exhibit 10.3

**Exhibit 10.3** 

**FORM OF** 

**MOELIS & COMPANY GROUP EMPLOYEE HOLDINGS LP** 

**PERFORMANCE-BASED VESTING AGREEMENT** 

**THIS PERFORMANCE-BASED VESTING AGREEMENT** (this "<u>Agreement</u>") is made and entered into as of June 9, 2025 (the "<u>Grant Date</u>") by and between Moelis & Company Group Employee Holdings LP, a Delaware limited partnership (the "<u>Partnership</u>"), and Navid Mahmoodzadegan (the "<u>Participant</u>"). Capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Limited Partnership of Moelis & Company Group Employee Holdings LP (as may be amended and/or from time to time, the "<u>Partnership Agreement</u>"), dated as of April 4, 2014 and amended effective as of April 1, 2021.

**WHEREAS**, the Partnership is agreeing to issue partnership interests in the form of Executive Profits Interest Units (the "<u>Partnership Units</u>") to the Participant subject to the terms and conditions contained herein and in the Partnership Agreement.

**WHEREAS**, the Partnership and the Participant desire to enter into this Agreement to set forth the terms and conditions of the grant of the Partnership Units to the Participant.

**NOW THEREFORE**, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Grant of Partnership Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In reliance on the representations and warranties contained herein, and subject to all of the terms and conditions included in this Agreement and in the Partnership Agreement, the Partnership hereby grants a number of performance-based Partnership Units to the Participant as set forth on <u>Exhibit A</u> hereto. The Partnership Units granted pursuant to this Agreement represent interests in the profits of the Partnership and are being granted as additional consideration for services anticipated to be provided on or after the Grant Date to or for the benefit of the Partnership or an affiliate thereof (collectively, the "<u>Employer</u>"). Where the context permits, references to "the Employer" shall include the Employer and any successor to the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Partnership Units granted pursuant to this Agreement shall have a per unit Target Value of $57.53, and the total amount of the Capital Contributions made by the Participant with respect to such Partnership Units as of the Grant Date is $0.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Vesting</u>. The Partnership Units granted pursuant to this Agreement shall be subject to vesting based on the terms and conditions set forth on <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Capital Account Book-Up</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Pursuant to Section 5.1.2 of the Partnership Agreement, Adjustment Amounts, if any, will be allocated as determined by the General Partner, including, if so determined by the General Partner, to the Partnership Units granted pursuant to this Agreement. For the avoidance of doubt, the General Partner may, but shall not be obligated to, prioritize such allocations to partnership interests in the Partnership that either (i) are not subject to performance conditions or (ii) are subject to performance conditions but for which the applicable performance conditions have already been achieved.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Partnership Unit granted pursuant to this Agreement that has been allocated Adjustment Amounts in a sufficient amount such that the Partnership Unit has an Adjusted Capital Account per Partnership Unit equal to that of other Partnership Units not granted pursuant to this Agreement with the highest such Adjusted Capital Account per Partnership Unit, as certified by the compensation committee (or another committee composed entirely of independent directors who are "non-employee directors" for purposes of Rule 16b-3 under the Securities Exchange Act of 1934, as amended) of the board of directors of Moelis & Company (the "<u>Compensation Committee</u>"), shall be referred to herein as a "<u>Booked-Up Partnership Unit</u>." Each Booked-Up Partnership Unit that has also become vested in accordance with this Agreement shall be referred to herein as a "<u>Vested Booked-Up Partnership Unit</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Rights as a Limited Partner; Redemption Rights; Repayment; Holdback</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as provided in Sections 3(a), 4(b) and 4(c) hereof, the Participant shall have all of the rights of a Limited Partner as set forth in the Partnership Agreement with respect to the Partnership Units granted pursuant to this Agreement, including, without limitation, the right to receive Tax Liability distributions pursuant to Section 4.8 of the Partnership Agreement; <u>provided</u> that all of the terms and conditions contained in this Agreement and the Partnership Agreement shall apply to each of the Partnership Units granted pursuant to this Agreement and to any other securities distributed with respect to such Partnership Units. Each Partnership Unit granted pursuant to this Agreement shall remain subject to forfeiture to the Partnership as provided herein and in the Partnership Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Participant shall have no redemption or exchange rights with respect to all or any portion of the Partnership Units granted pursuant to this Agreement until the later of (i) the date that is at least two (2) years following the Grant Date and (ii) the date that the Partnership Units become Vested Booked-Up Partnership Units pursuant to Section 3(b) hereof. The Participant shall be eligible to receive payments under that certain tax receivable agreement, dated as of April 15, 2014 (as may be amended and/or restated from time to time), between the Partnership and certain other parties thereto in connection with any such redemption or exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Participant shall be eligible to receive distributions of Available Cash pursuant to Section 4.2 of the Partnership Agreement pro rata in accordance with the Participant's Percentage Interest represented by the Partnership Units granted pursuant to this Agreement as of the date on which the Partnership distributes such Available Cash; provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Participant shall not be eligible to receive distributions of Available Cash under the Partnership Agreement unless and until all applicable vesting terms set forth in this Agreement have been achieved; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the amount of any distributions (in excess of any applicable tax distributions) payable to the Participant pursuant to Section 4.2 of the Partnership Agreement exceeds the Participant's Adjusted Capital Account as of the applicable payment date, then the amount of such excess shall be not distributed to the Participant and shall instead be credited to a

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holdback account maintain by the Partnership in respect of the Participant (such account, the "<u>Holdback Account</u>"). Any positive balance in the Holdback Account shall be paid to the Participant quarterly (as determined by the General Partner) in an amount equal to (but not in excess of) the positive balance of the Participant's Adjusted Capital Account as of the applicable payment date, <u>provided</u> <u>that</u> the entire amount of any positive balance in the Holdback Account shall be paid to the Participant on the date of the Participant's termination of service with the Employer for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Restrictive Covenants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Participant acknowledges and agrees that the Participant is bound by certain restrictive covenants in connection with the Participant's employment with the Employer and Section 10.15 of the Partnership Agreement, including, without limitation, non-competition, non-solicitation, confidentiality and non-disparagement covenants (as applicable, the "<u>Restrictive Covenants</u>"). The Restrictive Covenants are incorporated by reference as if fully set forth herein and are hereby re-executed and reaffirmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Pursuant to 18 U.S.C. §1833(b), the Participant will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret of the Employer that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to the Participant's attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If the Participant files a lawsuit for retaliation by the Employer for reporting a suspected violation of law, the Participant may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if the Participant (1) files any document containing the trade secret under seal, and (2) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement is intended to conflict with 18 U.S.C. §1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. Further, nothing in any agreement that the Participant has with the Employer will prohibit or restrict the Participant from (i) voluntarily communicating with an attorney retained by the Participant, (ii) making any voluntary disclosure of information or documents related to any possible violation of law to any law enforcement agency, any governmental agency or legislative body, the Equal Employment Opportunity Commission, any self-regulatory organization or any state or local commission on human rights, in each case, without advance notice to the Employer, (iii) recovering an SEC whistleblower award as provided under Section 21F of the Securities Exchange Act of 1934, as amended, or (iv) disclosing any information (including confidential information) to a court or other administrative or legislative body in response to a subpoena, court order or written request (with advance notice to the Employer prior to any such disclosure to the extent legally permitted).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Effect of Forfeiture</u>. Upon the forfeiture of any Partnership Units granted pursuant to this Agreement, the Participant (and the Participant's heirs, transferees, successors and assigns) shall thereafter have no right, title or interest whatsoever in such forfeited Partnership Units and such forfeited Partnership Units shall be returned to the Partnership. The Participant (and the Participant's heirs, transferees, successors and assigns) shall receive no payment from the Employer in connection with the forfeiture of any Partnership Units granted pursuant to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Limitations on Transfer and Encumbrance</u>. Except as expressly provided in the Partnership Agreement (including, without limitation, Article 8 of the Partnership Agreement), the Participant may not Transfer or Encumber any Partnership Units granted pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Representations and Warranties of the Participant</u>. The Participant hereby represents and warrants to the Employer as of the date of this Agreement as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Participant's domicile is the State of California, all discussions related to this Agreement, the Partnership Units granted pursuant to this Agreement, and the offer and acceptance of this Agreement, and the Partnership Units granted hereunder, occurred in the State of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Participant qualifies as an Accredited Investor under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Participant has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the investment to be made by the Participant hereunder. The Participant understands and has taken cognizance of all the risk factors related to the investment in the Partnership Units granted pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Participant is acquiring the Partnership Units granted pursuant to this Agreement for the Participant's own account for investment and not with any view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Participant understands that (i) the Partnership Units granted pursuant to this Agreement have not been registered under the Securities Act or applicable state securities laws, in reliance on exemptions from registration under the Securities Act and applicable state securities laws and (ii) no federal or state agency has made any finding or determination as to the fairness for investment, nor any recommendation or endorsement, of the Partnership Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Participant acknowledges and agrees that (i) except as expressly provided for in this Agreement, no representations or warranties have been made to the Participant by the Employer or any other persons with respect to the Participant's investment in the Partnership Units granted pursuant to this Agreement, (ii) except for this Agreement and the Partnership Agreement, there are no agreements, contracts, understandings or commitments between the Participant on the one hand and the Employer on the other hand, with respect to the Participant's investment in the Partnership Units granted pursuant to this Agreement, (iii) in entering into this transaction the Participant is not relying upon any information, other than that contained in the Partnership Agreement, this Agreement and the results of the Participant's own independent investigation, (iv) the Participant's financial situation is such that the Participant can afford to hold the Partnership Units granted pursuant to this Agreement for an indefinite period of time, has adequate means for providing for the Participant's current needs and personal contingencies, and can afford the eventuality that the Partnership Units may ultimately have no value, (v) the future value of the Partnership Units granted pursuant to this Agreement is speculative and (vi) the Participant is not entitled to any preemptive, tag-along, information or other minority investor rights with respect to the Partnership Units granted pursuant to this Agreement, other than as expressly set forth in this Agreement, the Partnership Agreement or as otherwise provided under applicable law.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Participant is fully informed and aware of the circumstances under which the Partnership Units granted pursuant to this Agreement must be held and the restrictions upon the resale of the Partnership Units under the Securities Act and any applicable state securities laws. The Participant understands that the Participant must bear the economic risk of the Participant's investment in the Partnership Units granted pursuant to this Agreement for an indefinite period of time because the Partnership Units have not been registered under the Securities Act and, therefore, cannot be sold unless they are registered under the Securities Act and any applicable state securities laws or unless an exemption from such registration is available, (i) that the availability of an exemption may depend on factors over which the Participant has no control, and (iii) that unless so registered or exempt from registration, the Partnership Units may be required to be held for an indefinite period. The Participant understands that an exemption from registration is not presently available pursuant to Rule 144 promulgated under the Securities Act, that there is no assurance that such exemption will ever become available to the Participant, and that even if it were to become available, sales pursuant to Rule 144 would be limited in amount and could only be made in full compliance with the provisions of Rule 144.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Participant has received and reviewed the Partnership Agreement. The Participant acknowledges and agrees that the Partnership Units are subject to the provisions of the Partnership Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Participant has full authority to enter into this Agreement and the Partnership Agreement, and to perform the Participant's obligations hereunder and thereunder. This Agreement and the Partnership Agreement have been duly and validly executed and delivered by the Participant and constitute legal, valid and binding obligations of the Participant, enforceable against the Participant in accordance with their terms, subject, as to the enforcement of remedies, to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or other similar law of general application affecting creditors and general principles of equity. The execution, delivery and performance of this Agreement and the Partnership Agreement does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Participant is a party or any judgment, order, decree or law to which the Participant is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Participant understands that the Employer's decision to grant the Partnership Units to the Participant pursuant to this Agreement is predicated, in part, on the representations, warranties and covenants of the Participant contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Survival of Representations and Warranties; Indemnification</u>. All representations and warranties of the Participant contained herein shall survive the execution of this Agreement and the grant of the Partnership Units contemplated hereby. The Participant agrees to indemnify and hold harmless the Employer from any actual liability, loss or expense (including, without limitation, reasonable attorneys' fees) incurred by the Employer as a result of the Participant's breach of any representation or warranty hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>No Right of Continued Employment</u>. Neither the grant of the Partnership Units hereunder nor anything contained in this Agreement shall confer upon the Participant any right to continue in the employ or service of the Employer, or to prohibit or restrict the Employer from terminating the Participant's services at any time or for any reason whatsoever, with or without Cause, notwithstanding the effect any such action may have on the Participant, this Agreement, the Partnership Agreement or any Partnership Units that are or would otherwise be granted under this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Mandatory 83(b) Election</u>. The Participant acknowledges that the Participant is required to file an election under Section 83(b) of the Code in the form attached hereto as <u>Exhibit B</u> in accordance with the Partnership Agreement and that the filing of such election is the Participant's responsibility. The Section 83(b) election form must be filed within thirty (30) days of the grant of the Partnership Units granted pursuant to this Agreement. The Participant further acknowledges that the Participant (and not the Employer or any of its agents) will be solely responsible for filing, and shall file, such form with the IRS, even if the Participant requests the Employer or its agents to make this filing on the Participant's behalf and even if the Employer or its agents have previously made this filing on the Participant's behalf. The Participant will promptly deliver a copy of such completed Section 83(b) election form to the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Tax Consequences</u>. The Employer shall not be liable or responsible in any way for the tax consequences to the Participant relating to the grant, ownership, or vesting and related lapsing of any forfeiture conditions, of the Partnership Units granted pursuant to this Agreement. The Participant agrees to determine and be responsible for any and all tax consequences to the Participant related to the grant, ownership, or vesting and related lapsing of any forfeiture conditions, of the Partnership Units granted pursuant to this Agreement. By accepting the Partnership Units granted pursuant to this Agreement, the Participant acknowledges that the Partnership is treated as a partnership for federal and state income tax purposes and that the Participant will be treated as a partner for all purposes with respect to the Partnership Units. Accordingly, the Participant acknowledges that, among other things, the Participant will receive an annual Schedule K**-**1 from the Partnership requiring that the Participant report and pay tax on the Participant's individual tax return the Participant's distributive share of the Partnership's income, gain, loss, deductions and credits, regardless of whether the Participant has received a distribution from the Partnership, and accordingly, the ownership of the Partnership Units may give rise to an out-of-pocket expense for the Participant. The Partnership has not made and will not make any statements or representations to the Participant concerning the federal, state and local tax consequences arising from the grant and holding of the Partnership Units contemplated by this Agreement and will have no obligation to indemnify or hold harmless the Participant for any claims or liabilities arising from such consequences. This Agreement is intended to be a part of the Partnership's "partnership agreement," as defined in Section 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations promulgated under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Notices</u>. All notices to a party under this Agreement shall be provided in accordance with Section 10.9 of the Partnership Agreement. Any such notice may at any time be waived by the party entitled to receive such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of the parties hereto and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Employer's assets and business, and, except as otherwise expressly provided herein, the parties' respective heirs, executors, administrators, representatives, successors and permitted assigns. This Agreement may not be assigned, transferred or otherwise disposed of by the Participant, whether voluntarily or involuntarily, by operation of law or otherwise, without the prior written consent of the Employer except to the extent related to a Transfer of his Partnership Units granted pursuant to this Agreement to the extent permitted by, and in compliance with, this Agreement and the Partnership Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Complete Agreement</u>. This Agreement and the Partnership Agreement contain the complete agreement among the parties hereto with respect to the Partnership Units granted pursuant to this Agreement and supersede all prior agreements and understandings among the parties hereto with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Severability</u>. If any term or provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the term hereof, such provision shall be fully severable. This Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision has never comprised a part hereof, and the remaining provisions hereof shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. In lieu of such illegal, invalid or unenforceable provisions, there shall be added automatically as a part hereof a provision as similar in terms and economic effect to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Waivers</u>. No waiver of any provision of this Agreement is valid unless in writing and signed by the party against whom or which enforcement is sought, and any such waiver is effective only in the specific instance described and for the purpose for which the waiver was given. The failure of any party to this Agreement to insist upon or enforce strict performance by any other party to this Agreement of any provision of this Agreement shall not be construed as a waiver or relinquishment of such right or related remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Set-Off</u>. The Participant hereby acknowledges and agrees, without limiting rights of the Employer otherwise available at law or in equity, that, to the extent permitted by law, the number of Units under this Agreement (or the amount of any cash or property distributed with respect to or in lieu thereof) may be reduced by, and set-off against, any or all amounts or other consideration payable by the Participant to the Employer under any other agreement or arrangement between the Participant and the Employer; <u>provided</u> <u>that</u> any such set-off does not result in a penalty under Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Clawback; Forfeiture Events</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding any other provisions in this Agreement, the Partnership Agreement or the Plan, the Partnership Units granted hereunder will be subject to such deductions and clawback as may be required to be made pursuant to (i) any law, government regulation or stock exchange listing requirement that is applicable to Moelis & Company or any of its Affiliates or (ii) any clawback, forfeiture, recoupment or similar policy adopted by Moelis & Company, including, without limitation, the New York Stock Exchange-required Clawback Policy filed as Exhibit 10.24 to the Moelis & Company Form 10-K on February 22, 2024 (or any successor policy).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition to the provisions set forth in Section 19(a) hereof, if there is a Forfeiture Event (as defined in the Plan), then the Compensation Committee of the Board of Directors of Moelis & Company (or its delegate pursuant to the Plan) may determine to forfeit all or a portion of any unvested Partnership Units hereunder. All determinations of whether any act or omission constitutes a Forfeiture Event and the amount of any forfeiture in any particular case will be made by the Compensation Committee of the Board of Directors of Moelis & Company (or its delegate pursuant to the Plan) in its sole discretion and will be final and binding on all parties.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Use of Personal Data</u>. By accepting the Partnership Units granted pursuant to this Agreement, the Participant acknowledges that the Employer may use the Participant's personal data for purposes of (i) determining the Participant's compensation, (ii) payroll activities, including but not limited to, tax withholding and regulatory reporting, (iii) securities law registration, and (iv) other lawful purposes related to the Participant's services and this Agreement, and the Employer may provide such data to third party vendors with whom it has contracted to provide such services. The Participant may terminate this authorization at any time except with respect to tax and regulatory reporting. In such case, the grant under this Agreement shall be subject to cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Governing</u> <u>Law</u><u>; Arbitration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement, including its existence, validity, construction, and operating effect, and the rights of each of the parties hereto, shall be governed by and construed in accordance with the laws of the State of Delaware without regard to otherwise governing principles of conflicts of law. Any dispute, controversy or claim arising out of or in connection with this Agreement, or the interpretation, breach, termination or validity thereof, shall be finally resolved by arbitration in accordance with Section 10.4 of the Partnership Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>Review of this Agreement</u>. The Participant confirms that the Participant has carefully reviewed this Agreement and the Partnership Agreement, and understands the terms and conditions of each such agreement. The Participant further confirms that the Participant has consulted with legal counsel, or had ample opportunity to consult with legal counsel, representing the Participant concerning this Agreement, the Partnership Agreement and any other agreements between or among the Participant and the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. <u>Counterparts</u>. This Agreement and any amendments may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one agreement. In addition, this Agreement and any amendments may be executed through the use of counterpart signature pages. The signature of any party on any counterpart agreement or counterpart signature page shall be deemed to be a signature to, and may be appended to, one document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>Consent</u> <u>by Spouse</u>. If the Participant is married (and not formally separated with an agreed-upon division of assets) and is subject to the community property laws of any state, the Participant shall be obligated in accordance with the Partnership Agreement to deliver at the time of execution of this Agreement a duly executed consent by spouse substantially in the form attached hereto as <u>Exhibit C</u>. The Participant shall also have such consent by spouse executed by any spouse married to the Participant at any time subsequent hereto.

\*\*SIGNATURE PAGE FOLLOWS\*\*

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IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written.

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| |
|:---|
| **MOELIS & COMPANY GROUP EMPLOYEE<br>HOLDINGS LP** |
| By: MOELIS & COMPANY GROUP EMPLOYEE<br>HOLDINGS GP LLC, its general partner |
| By: MOELIS & COMPANY MANAGER LLC, the<br>managing member of the general partner |
| By: |
| **PARTICIPANT** |
| Name: Navid Mahmoodzadegan |

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[Signature Page to Performance-Based Vesting Agreement]

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**Exhibit A** 

**<u>EXHIBIT A</u>**

**<u>VESTING OF PARTNERSHIP UNITS</u>**

The Partnership Units granted pursuant to the Agreement shall be subject to vesting as set forth in this <u>Exhibit A</u>. Any capitalized term that is used, but not defined, in this <u>Exhibit A</u> shall have the meaning set forth in the Performance-Based Vesting Agreement to which it is attached (the "<u>Agreement</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Number of Partnership Units</u>. The number of Partnership Units granted to the Participant under the Agreement shall be equal to 450,000 Partnership Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Normal Vesting</u>. Except as otherwise provided in this <u>Exhibit A</u>, the Partnership Units granted pursuant to the Agreement shall vest (or partially vest as set forth below) upon the achievement of both the "Performance Condition" and the "Service Condition" (all as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Performance Condition</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The "Performance Condition" shall be deemed satisfied to the extent a share of Moelis & Company Class A common stock (the "<u>Common Stock</u>") achieves the designated per share price targets set forth in the table below based on the volume weighted average closing share price of the Common Stock over any 20 consecutive trading-day period during the period beginning on the Grant Date and ending on the fifth anniversary of September 30, 2025 (the "<u>Performance Period</u>"), as reflected on the New York Stock Exchange or other such primary stock exchange in which the Common Stock is listed and traded (the "<u>20-Day VWAP</u>"). Achievement of any of the designated per share price targets set forth in the table below shall be certified by the Compensation Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Notwithstanding the foregoing, if Moelis & Company pays any cash dividend on a share of Common Stock during the Performance Period (a "<u>Qualifying Dividend</u>"), the per share price of a share of Common Stock for purposes of determining the achievement of the Performance Condition shall be deemed to be adjusted to reflect any such Qualifying Dividend in a manner determined by the General Partner as if such Qualifying Dividends were reinvested in shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The number of Partnership Units granted pursuant to the Agreement for which the Performance Condition has been met (the "<u>Earned Units</u>") will be determined (1) on a quarterly basis at the end of each fiscal quarter during the Performance Period, beginning on June 9, 2025, and (2) to the extent necessary, as of the final day of the Performance Period (the "<u>End Date</u>" and each such fiscal quarter end date together with the End Date, a "<u>Measurement Date</u>"), based on the highest 20-Day VWAP to have been achieved at any time starting on the Grant Date and ending on the applicable Measurement Date as follows:

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| | |
|:---|:---|
| **Highest 20-Day VWAP as of the**<br> **Measurement Date Assuming**<br> **Reinvestment of Qualifying**<br> **Dividends (1)** | **Aggregate Partnership Units That**<br> **Become Earned Units** |
|  Less than $86.00 | 0 |
| $86.00 | 150000 |
| $115.00 | 300000 |
|  $144.00 or Greater | 450000 |

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(1) As a result of the reinvestment of dividends, the Performance Units may become Earned Units before the 20-Day VWAP of a single share achieves the dollar amount set forth in this column.

If as of any Measurement Date, the highest 20-Day VWAP is between $86.00 and $144.00 per share and not exactly $115.00 per share, then the percentage of the total Partnership Units granted pursuant to the Agreement that will become Earned Partnership Units as of such Measurement Date be determined by linear interpolation between the amounts set forth in the table above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Service Condition</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The "Service Condition" with respect to the Partnership Units that become Earned Units pursuant to Section 2(a) of this <u>Exhibit A</u> shall be deemed to be satisfied in equal installments with respect to such Earned Units on each of the third, fourth and fifth anniversaries of September 30, 2025 (each, a "<u>Service Vesting Date</u>"), in each case so long as the Participant remains in continuous employment with the Employer as Chief Executive Officer through, and has not given or received a notice of termination of such employment as of, the applicable Service Vesting Date; provided that if the applicable Service Vesting Date occurs prior to the date on which the applicable Partnership Units become Earned Units, then the corresponding number of Earned Units that would have vested as of such Service Vesting Date if the Partnership Units had become Earned Units prior to such Service Vesting Date shall fully vest immediately upon becoming Earned Units (the "<u>Delayed Fully Vested Date</u>") so long as the Participant remains in continuous employment with the Employer as Chief Executive Officer through, and has not given or received a notice of termination of such employment as of, the Delayed Fully Vested Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) [Intentionally Omitted.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Performance Condition shall apply to each installment of the Partnership Units subject to a Service Condition as if each such installment was an independent award. The following examples illustrate these principles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Assume that a 20-Day VWAP of $86.00 (taking into account reinvestment of Qualifying Dividends) was achieved as of the first quarter-end date following the second anniversary of the Grant Date, such that 150,000 Partnership Units become Earned Units as of such quarter-end date. Assume that no additional Partnership Units become Earned Units prior to the end of the Performance Period. Such 150,000 Earned Units shall become fully vested in equal installments on each of the third, fourth and fifth anniversaries of September 30, 2025.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Assume the same facts as in the example in Section 2(b)(iii)(A), except that the 20-Day VWAP of $86.00 (taking into account reinvestment of Qualifying Dividends) was achieved as of the first quarter-end date following the third anniversary of September 30, 2025. In this case, a total of one-third of the Earned Units shall vest immediately upon the quarter-end date on which the Performance Units became Earned Units and the remaining 2/3 of such Earned Units shall vest in equal installments on the fourth and fifth anniversaries of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Change in Control</u>. If a Change in Control occurs on or prior to the End Date and while the Partnership Units are outstanding, (i) the Performance Condition will be tested for any Partnership Units granted pursuant to the Agreement which are not Earned Units as of such Change in Control based on the price paid per share of Common Stock in the Change in Control transaction (and assuming reinvestment of Qualifying Dividends) and (ii) if the Participant is employed as of the date of the Change in Control, the Service Condition will be deemed to have been fully achieved as of the date of the Change in Control. Any Partnership Units that do not become fully vested as a result of the Change in Control shall immediately be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Termination of Service</u>. Notwithstanding anything set forth in this <u>Exhibit A</u> to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Participant's service with the Employer in the role of Chief Executive Officer is terminated on or prior to the End Date by the Employer without Cause or by the Participant for Good Reason, then the Participant shall be eligible to vest in a number of Partnership Units equal to (1) the greater of (A) the number of Partnership Units that are Earned Units as of the date of notice of such termination (with the date of notice of termination treated as the End Date for purposes of this clause (A)), without regard to achievement of the Service Condition and (B) 225,000 Partnership Units that are already, or become, Earned Units based on the achievement of the Performance Condition relating to such Partnership Units during the Performance Period, without regard to the achievement of the Service Condition(the applicable number of Partnership Units in this clause (1), the "<u>Termination Eligible Units</u>"), less (2) the number of Partnership Units that otherwise fully vested on or prior to the date of notice of termination in accordance with Section 2 of this <u>Exhibit A</u> (as applicable, the "<u>Qualifying Termination Units</u>"). The Termination Eligible Units shall remain outstanding following the date of termination and shall vest on the same schedule as set forth in Section 2(b)(1) so long as (i) the Participant does not engage in Detrimental Activities at any time on or prior to the End Date and (ii) in the case of Termination Eligible Units set forth in subclause (1)(B) of this clause (a), the Performance Condition has been achieved during the Performance Period in accordance with Section 2(a) of this <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Participant's service with the Employer in the role of Chief Executive Officer terminates on or prior to the End Date as a result of the Participant's death or Permanent Disability, then (i) the Service Condition will be deemed to have been fully achieved as of the date of such termination, (ii) any Partnership Units that are Earned Units as of the date of such termination shall fully vest as of the date of the such termination and (iii) any Partnership Units that are not yet Earned Units as of the date of such termination shall fully vest as of the applicable Measurement Date on which the Performance Condition is achieved during the Performance Period in accordance with Section 2(a) of this <u>Exhibit A;</u> provided, that in the event of a termination due to Permanent Disability, the Participant does not engage in Detrimental Activities at any time on or prior to the applicable Measurement Date<u>.</u>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Participant's service terminates for any other reason on or prior to the End Date (including, without limitation, (i) if the Participant's service with the Employer is terminated on or prior to the End Date for Cause or (ii) if Participant's service with the Employer is terminated on or prior to the End Date by the Participant without Good Reason (including any termination by the Participant in connection with Participant's retirement)), then any Partnership Units granted pursuant to the Agreement that have not become fully vested shall immediately be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Dividend Equivalents</u>. Upon the payment of any Qualifying Dividend, the Participant shall receive an additional grant of Partnership Units with a value, as determined by the General Partner in its sole discretion, that is intended to replicate the value of the dividend that would have been paid to the Participant had the Partnership Units granted under the Agreement that are then-outstanding and unvested had instead been granted in the form of a number of shares of Common Stock equal to the total number of then-outstanding and unvested Partnership Units granted under the Agreement and subject to substantially the same terms and conditions as apply to the Partnership Units granted pursuant to the Agreement; provided, that (i) the per unit Target Value, the book-up mechanics set forth in Section 3(a) of the Agreement and the limitation on redemptions and exchanges set forth in Section 4(b) of the Agreement shall be calculated as of and shall run from the date of grant of such additional Partnership Units and (ii) the Participant shall make a new Section 83(b) election with respect thereto. Each time a new grant of Partnership Units is made pursuant to this Section 5, <u>Annex 1</u> to this <u>Exhibit A</u> shall be updated to memorialize the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Definitions</u>. For purposes of this <u>Exhibit A</u>, the following terms shall have the respective meanings set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "<u>Cause</u>" means any of the following by the Participant: (i)(a) gross misconduct, fraud, material misrepresentation or breach of trust or loyalty or (b) gross negligence, in each case in respect of the Participant's performance of, or failure to perform, the Participant's duties or responsibilities; (ii) a material and repeated failure to exercise a reasonable level of skill, effort and/or efficiency in performing the Participant's duties or responsibilities (other than due to Disability); (iii) willful conduct which adversely impacts the reputation of the Employer; (iv) the conviction of a felony (or equivalent in other jurisdictions), or any crime involving moral turpitude (including embezzlement, bribery, forgery, counterfeiting, extortion, false statements or insider trading), or any plea of "no contest" or "nolo contendere" (or equivalent in other jurisdictions) in connection therewith; (v) the charge or indictment of a felony or any other criminal offense, the defense of which renders the Participant substantially unable to perform adequately the Participant's duties for at least six (6) months; (vi) a material violation of applicable laws, rules or regulations or the rules or regulations of any securities exchange or association or regulatory body of which the Employer is a member and/or licensed by; (vii) a material violation of the Employer's service, confidentiality, operations, compliance, ethics or similar policies; (viii) a material breach of the Participant's contractual arrangements with the Employer; or (ix) failure to co-operate with an internal investigation, an investigation by regulatory or law enforcement authorities or actual

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or prospective litigation in which the Employer has an interest, after being reasonably instructed by the Employer to co-operate. In the case of clauses (i)(b), (ii), (vi), (vii), (viii) and (ix) provided that such breach, failure, violation, or act or omission is reasonably capable of prompt Cure (as defined below), (a) the Employer shall provide the Participant with a sufficiently detailed written notice describing such breach, failure, violation, or act or omission (a "<u>30-Day Notice</u>"), and (b) the Participant shall have thirty (30) days to Cure such breach, failure, violation, or act or omission (<u>provided</u> <u>that</u>, for the avoidance of doubt, if the Participant receives the 30-Day Notice and fails to timely Cure within such thirty (30) day period, the Employer shall not be required to provide any additional notice or notice period and the Employer may terminate the Participant for Cause after the last day of such thirty (30) day period). All determinations of whether any act or omission constitutes Cause in any particular case will be made by the General Partner in its sole discretion and will be final and binding on all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "<u>Change in Control</u>" has the meaning set forth in the Moelis & Company 2024 Omnibus Incentive Plan, as may be amended and/or restated from time to time (or any successor plan, as applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "<u>Client</u>" means any client or prospective client of the Employer (i) to whom the Participant provided services, for whom the Participant transacted business or for whom the Participant solicited the business of such client or prospective client during the prior two-year period or (ii) whose senior personnel the Participant first met or the Participant was introduced or reintroduced to during the Participant's relationship with or employment by the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "<u>Competitive Enterprise</u>" means any business enterprise that is engaged, or owns or controls a significant interest in any entity that is engaged, in either case, primarily or in any substantial manner in any place in the world in (x) investment banking or securities activities or financial services, including, without limitation, private equity, hedge fund, special purpose acquisition company (SPAC) or other asset or investment management businesses, or (y) any business activities in which the Employer is engaged primarily or in any substantial manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "<u>Cure</u>" means to take such unilateral action(s) as will avoid all material effects of a breach, failure, violation, or act or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "<u>Detrimental Activities</u>" means any of the following: (i) the Participant, directly or indirectly, provides services to, engages in, has any equity interest in, or manages or operates any Competitive Enterprise; provided, however, that the Participant shall be permitted to acquire a passive equity interest in a publicly traded Competitive Enterprise provided the interest acquired is not more than one percent (1%) of such Competitive Enterprise's outstanding equity interests (the "Competitive Enterprise Restriction"); (ii) the Participant Solicits any Client to transact business with a Competitive Enterprise or to reduce or refrain from doing business with the Employer; (iii) the Participant interferes with or damages (or attempts to interfere with or damage) any relationship between the Employer and any Client; (iv) the Participant Solicits any person who is employed by the Employer to resign from the Employer or to apply for or accept employment with any Competitive Enterprise; (v) the Participant shall fail to timely execute an attestation to the effect that the Participant has not engaged in the acts described in clauses (i), (ii), (iii) and (iv) above prior to each applicable Service Vesting Date, End Date or at such other times reasonably requested by the General Partner; or (vi) the Participant, as determined by the General Partner, fails to meet, in any material respect, any obligation the Participant may have under any agreement with the Employer regarding confidentiality, nondisparagement, cooperation, nonsolicitation or noncompetition.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "<u>Good Reason</u>" means a material breach by the Employer of a material provision of the Participant's service agreement or offer letter, if any, with the Employer; <u>provided</u>, <u>however</u>, <u>that</u> the Participant must provide the Employer with a sufficiently detailed notice of the events deemed to constitute "Good Reason" within sixty (60) days of when the Participant knew or should have known that the events deemed to constitute "Good Reason" occurred and allow the Employer thirty (30) days to Cure any of the events or occurrences described above, to the extent reasonably capable of prompt Cure, before the Participant may resign for Good Reason (the "<u>Good Reason Notice</u>"). For the avoidance of doubt, if the Participant gives the Good Reason Notice and the Employer fails to timely Cure within such thirty (30) day period, the Participant shall not be required to provide any additional notice or notice period, and the Participant may terminate the Participant's service with the Employer for Good Reason after the last day of such thirty (30) day period but within forty-five (45) days of the end of such thirty (30) day period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "Permanent <u>Disability</u>" means, as determined by the General Partner in its sole discretion, the Participant's illness or other physical or mental impairment that permanently and materially diminishes the Participant's ability to substantially perform the Participant's duties to the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "<u>Solicit</u>" means any direct or indirect communication of any kind whatsoever, regardless of by whom initiated, inviting, advising, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action.

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**Annex 1 to Exhibit A** 

**<u>DIVIDEND EQUIVALENT PARTNERSHIP UNITS</u>**

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| | | |
|:---|:---|:---|
| **Grant Date** | **Number of Partnership**<br> **Units** | **Target Value Per**<br> **Partnership Unit** |

---

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**Exhibit B** 

**<u>83(B) ELECTION FORM</u>**

**ELECTION TO INCLUDE PARTNERSHIP UNITS IN GROSS** 

**INCOME PURSUANT TO SECTION 83(b) OF THE** 

**INTERNAL REVENUE CODE** 

The undersigned was issued Partnership Units (as defined below) of Moelis & Company Group Employee Holdings LP, a Delaware limited partnership (the "<u>Partnership</u>") (principal business office located at 399 Park Avenue, 4th Floor, New York, NY (TIN: [________])) on June 9, 2025 (the "<u>Grant Date</u>"). The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended ("<u>Code</u> <u>§</u><u>83(b)</u>") and Treasury Regulations §1.83-2, at the time such Partnership Units were issued, to include in gross income for the 2025 taxable year the excess, if any, of the fair market value on of the Grant Date of the Partnership Units (as set forth in paragraph 6 below) over the amount, if any, paid for such property (as set forth in paragraph 7 below). The undersigned makes this election solely as a protective measure and does not hereby admit, concede or otherwise waive any rights that it may have at any time, including, the right to deny that the Partnership Units constitute property under Code §83(b) or that it has received such property in connection with the performance of services.

The following information is supplied in accordance with Treasury Regulation §1.83-2(e):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name, address and social security number of the undersigned:

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAME: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADDRESS: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSN: |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. A description of the property with respect to which the election is being made: partnership interests in the Partnership comprised of [_______]Profits Interest Units of the Partnership (the "<u>Partnership Units</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The date on which the property was transferred: June 9, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The taxable year for which such election is made: Calendar year 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The restrictions to which the property is subject: The Partnership Units are subject to vesting based on the continued employment of the undersigned on each vesting date, along with the achievement of specified performance conditions. All or a portion of the Partnership Units may be subject to forfeiture or repurchase in certain circumstances under the terms of a vesting agreement between the undersigned and the Partnership. The Partnership Units are also subject to certain transfer restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The aggregate fair market value on June 9, 2025 of the property with respect to which the election is being made, determined without regard to any lapse restrictions: $0.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The aggregate amount paid for such property: $0.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A copy of this election has been furnished to the General Partner of the Partnership pursuant to Treasury Regulations §1.83-2(e)(7).

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**In order to make an election under Code §83(b), this election form must be executed within thirty (30) days after the Grant Date. One copy of this election form should be submitted to the General Partner and a second copy should be filed within thirty (30) days after the Grant Date with the Internal Revenue Service Center with which the undersigned normally files his or her federal income tax return.** 

**The undersigned understands that the foregoing election may not be revoked except with the consent of the Commissioner of the Internal Revenue Service.** 

Dated:<u> </u>, 2025     <br> [Recipient]

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**Exhibit C** 

**<u>CONSENT BY SPOUSE</u>**

**Dated as of June [__], 2025** 

I acknowledge that I have read the Limited Partnership of Moelis & Company Group Employee Holdings LP (as may be amended and/or from time to time, the "<u>Partnership Agreement</u>"), dated as of April 4, 2014 [and amended effective as of [______]], and that I know its contents. I am aware that by its provisions, my spouse agrees to sell, convert, dispose of, or otherwise transfer his or her interest in the Partnership, including any property or other interest that I have or acquire therein, under certain circumstances. I hereby consent to such sale, conversion, disposition or other transfer; and approve of the provisions of the Partnership Agreement and any action hereafter taken by my spouse thereunder with respect to his or her interest, and I agree to be bound thereby.

I further agree that in the event of my death or a dissolution of marriage or legal separation, my spouse shall have the absolute right to have my interest, if any, in the Partnership set apart to him or her, whether through a will, a trust, a property settlement agreement or by decree of court, or otherwise, and that if he or she be required by the terms of such will, trust, settlement or decree, or otherwise, to compensate me for said interest, that the price shall be an amount equal to its appraised value as determined by a reputable accounting firm, investment bank or other qualified appraiser selected by me and my spouse (or if we cannot agree on an appraiser within five (5) Business Days, such appraiser as is selected by the Partnership), payable in cash or on such other terms as may be agreed upon by me and my spouse.

This consent, including its existence, validity, construction, and operating effect, and the rights of each of the parties hereto, shall be governed by and construed in accordance with the laws of the State of <u>_________________</u> without regard to otherwise governing principles of choice of law or conflicts of law.

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| | |
|:---|:---|
| <u>Participant</u>: | <u>Spouse of the Participant</u>: |
| Signature | Signature |
| Name | Name of Spouse |

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## Exhibit 99.1

**Exhibit 99.1**![LOGO](g10407g0609091004986.jpg)

**Moelis & Company Announces Key Senior Leadership Changes** 

*Ken Moelis to Become Executive Chairman* 

*Navid Mahmoodzadegan Appointed Chief Executive Officer* 

*Jeff Raich Appointed Executive Vice Chairman* 

**NEW YORK, June 9, 2025 –** Moelis & Company (NYSE: MC), a leading global independent investment bank, today announced key senior leadership changes, which are the result of the Firm's long-term leadership transition planning and will be effective as of October 1, 2025. Founder Ken Moelis, who has served as Chief Executive Officer since the Firm's inception in 2007, will assume the role of Executive Chairman and will continue to focus on advising clients on their most critical strategic decisions. Navid Mahmoodzadegan, Co-Founder and Co-President, will succeed Ken as Chief Executive Officer and will also join the Board of Directors. Jeff Raich, Co-Founder and Co-President, will become Executive Vice Chairman of Moelis and will continue to lead key business areas of the Firm.

Ken said, "I have never felt better about our Firm and the opportunities ahead. We have the highest quality talent and the most extensive capabilities for clients in our history. This is the right moment to elevate the next generation of leadership and create further opportunities for internal growth. Navid is a founder of our Firm and has been a trusted partner to me for 30 years. As Co-President, he has been involved in every major decision we have made and has been a key driver of our Firm's most impactful strategic growth initiatives. He's a unique talent and one of the best strategic advisors I have ever worked with. Navid has the full support of our Board to lead Moelis into the future, building on our strong foundation to drive sustained growth and invest in the next generation of talent. Navid, Jeff and I share a long-term vision and deep commitment to fostering a collaborative and entrepreneurial environment that prioritizes exceptional client service and innovation."

Navid commented, "I am incredibly proud of what we have achieved together these past 18 years since founding Moelis and am honored and excited to have the opportunity to serve as CEO at this important moment in the evolution of our Firm. As we move forward, we will continue to put clients first – that has always been the key to the Firm's long-term success and achieving outstanding results for our shareholders. We have never been better positioned to capitalize on the significant growth opportunities ahead."

Jeff added, "Moelis has always been defined by entrepreneurial thinking, deep client relationships, and a culture focused on our people. Ken, Navid and I have achieved so much together in our 30 years of partnership, and it feels like we are just getting started. I look forward to continuing to bring creative solutions to our clients and executing on our growth plans together with my colleagues across our organization."

Ken concluded, "Jeff's experience and judgment have shaped Moelis at every stage since our founding, and his leadership will be critical to our next chapter. I look forward to serving our clients and helping drive the Firm's continued success alongside Navid, Jeff and our leadership team for years to come."

-ENDS-

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![LOGO](g10407g0609091004986.jpg)

**About Navid Mahmoodzadegan** 

Navid Mahmoodzadegan is a Co-Founder and Co-President of Moelis & Company, where he has co-led the Firm's investment banking business and driven strategic growth since its founding. An accomplished banker and advisor with 30 years of experience, Navid previously served as Global Head of Media Investment Banking at UBS. Prior to this, he was an investment banker at Donaldson, Lufkin & Jenrette and practiced law as an attorney at Irell & Manella.

Navid holds an A.B. with Highest Distinction from the University of Michigan (Phi Beta Kappa) and a J.D. from Harvard Law School, magna cum laude. He currently serves on the Taft School Board of Trustees and on the President's Advisory Group at the University of Michigan. He previously served on the National Board of Directors of JumpStart and as Board Chair for the Carlthorp School Board of Trustees.

**About Moelis & Company** 

Moelis & Company ("Moelis") is a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. The Firm assists its clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors. Moelis & Company's experienced professionals advise clients on their most critical decisions, including mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The Firm serves clients from locations across North and South America, Europe, the Middle East, and Asia-Pacific. For further information, please visit: <u>www.moelis.com</u>.

<u>Contacts</u> 

**Media Contact:** 

Melissa Chiles

Moelis & Company

T: + 1 212 883 3583

press@moelis.com

**Investor Contact:** 

Matt Tsukroff

Moelis & Company

T: + 1 212 883 3800

M: +1 917 526 2340

matthew.tsukroff@moelis.com