Document:

EX-10.3

 Exhibit 10.3 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT (as it may from time to time be amended, this “Agreement”), dated
as of [●], 2021, is entered into by and between Lazard Growth Acquisition Corp. I, a Cayman Islands exempted company (the “Company”), and LGACo 1 LLC, a Delaware limited liability company (the
“Purchaser”). 
 WHEREAS, the Company intends to consummate an initial public offering of the Company’s units
(the “Public Offering”), each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, a “Share” and, collectively the “Shares”),
and one-fifth of one redeemable warrant. Each whole warrant entitles the holder to purchase one Share at an exercise price of $11.50 per Share, as set forth in the Company’s Registration Statement on Form
S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”), File Number 333-252408 (the “Registration
Statement”), under the Securities Act of 1933, as amended (the “Securities Act”). 
 WHEREAS, the
Purchaser has agreed to purchase an aggregate of 8,000,000 warrants (and up to 1,000,000 additional redeemable warrants if the underwriter in the Public Offering exercises its option (the “Over-allotment Option”) to purchase
additional units in full) (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share, at a price of $1.50 per warrant, subject to
adjustment. 
 NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows: 

AGREEMENT 

Section 1. Authorization, Purchase and Sale; Terms of the Private Placement Warrants. 

A. Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement
Warrants to the Purchaser. 
 B. Purchase and Sale of the Private Placement Warrants. 

(i) On the date of the consummation of the Public Offering (the “IPO Closing Date”), the Company shall issue and sell
to the Purchaser, and the Purchaser shall purchase from the Company, 8,000,000 Private Placement Warrants at a price of $1.50 per warrant for an aggregate purchase price of $12,000,000 (the “Purchase Price”), which shall be
paid by wire transfer of immediately available funds to the Company, in accordance with the Company’s wiring instructions, at least one business day prior to the IPO Closing Date. On the IPO Closing Date, subject to the receipt of funds
pursuant to the immediately prior sentence, the Company, at its option, shall deliver a certificate evidencing the Private Placement Warrants purchased by the Purchaser on such date duly registered in the Purchaser’s name to the Purchaser or
effect such delivery in book-entry form. 
 (ii) On the date of the closing of the Over-allotment Option or on such earlier time and date as
may be mutually agreed by the Purchaser and the Company (the “Over-allotment Closing Date”, and each Over-allotment Closing Date (if any) and the IPO Closing Date, a “Closing Date”), the Company shall
issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to 1,000,000 Private Placement Warrants (or, to the extent the Over-allotment Option is not exercised in full, a lesser number of Private Placement Warrants
proportionate to the Over-allotment Option that is exercised) at a price of $1.50 per warrant for an aggregate purchase price of up to $1,500,000 (the “Over-allotment Purchase Price”). The Purchaser shall pay the
Over-allotment Purchase Price by wire transfer of immediately available funds to the Company, in accordance with the Company’s wiring instructions, at least one business day prior to the Over-allotment Closing Date. On the Over-allotment
Closing Date, subject to the receipt of funds pursuant to the immediately prior sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased by the Purchaser on such date duly registered in
the Purchaser’s name to the Purchaser or effect such delivery in book-entry form. 

 C. Terms of the Private Placement Warrants. 

(i) Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent
on the IPO Closing Date in connection with the Public Offering (the “Warrant Agreement”) and shall be subject to the terms of a letter agreement to be entered into on the IPO Closing Date in connection with the Public
Offering by the Company, the Purchaser and the other parties thereto (the “Insider Agreement”). 
 (ii) On the IPO
Closing Date, the Company, the Purchaser and certain other parties thereto shall enter into a registration and shareholder rights agreement (the “Registration and Shareholder Rights Agreement”), pursuant to which the Company
will grant certain registration rights to the Purchaser and certain other parties thereto relating to the Private Placement Warrants and the Shares underlying the Private Placement Warrants. 

Section 2. Representations and Warranties of the Company. As a material inducement to the Purchaser to enter
into this Agreement and purchase the Private Placement Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive each Closing Date) that: 

A. Incorporation and Corporate Power. The Company is an exempted company duly incorporated, validly existing and in good standing under
the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the
Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement. 

B. Authorization; No Breach. 

(i) The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company as
of each Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of
general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant
Agreement and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of each Closing Date. 

(ii) The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of and compliance with the respective terms hereof and thereof by the Company, do not and will not as of each Closing Date
(a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s share capital
or assets under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency
pursuant to the amended and restated memorandum and articles of association of the Company (in effect on the date hereof and as may be amended prior to completion of the Public Offering (the “Articles”)) or any material law,
statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal or state securities laws. 

C. Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement and the
Articles, and upon registration in the Company’s register of members, the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued as fully paid and nonassessable. On the date of issuance of the Private
Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall have been reserved for issuance in accordance with the terms of this Agreement. Upon issuance in accordance with, and payment pursuant to, the terms hereof
and the Warrant Agreement and the Articles, and upon registration in the Company’s register of members (in the case of the Shares), the Purchaser will 

  
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have good title to the Private Placement Warrants purchased by it and the Shares issuable upon exercise of such Private Placement Warrants, free and clear of all liens, claims and encumbrances of
any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, including, without limitation, the Insider Agreement, (ii) transfer restrictions under federal and state securities laws and
(iii) liens, claims or encumbrances imposed due to the actions of the Purchaser. 
 D. Governmental Consents. No permit,
consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any
other transactions contemplated hereby. 
 E. Regulation D Qualification. Neither the Company nor, to its actual knowledge, any of
its affiliates, members, officers, directors or beneficial shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act. 

Section 3. Representations and Warranties of the Purchaser. As a material inducement to the Company to enter
into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive each Closing Date) that: 

A. Organization and Requisite Authority. The Purchaser is a limited liability company duly incorporated, validly existing and in good
standing under the laws of the state of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or
assets of the Purchaser. The Purchaser possesses all requisite limited liability company power and authority necessary to carry out the transactions contemplated by this Agreement. 

B. Authorization; No Breach. 

(i) This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or
law). 
 (ii) The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by
the Purchaser does not and shall not, as of each Closing Date, conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 C. Investment Representations. 

(i) The Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable upon
such exercise (collectively, the “Securities”) for the Purchaser’s own account, for investment purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof. 

(ii) The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D, and the
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act. 
 (iii)
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the United States federal and state securities laws and that the Company is relying upon
the truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such
Securities. 

 (iv) The Purchaser did not decide to enter into this Agreement as a result of any general
solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act. 
 (v) The Purchaser has
been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has
considered necessary to make an informed investment decision with respect to the acquisition of the Securities. 
 (vi) The Purchaser
understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by
the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities. 
 (vii) The Purchaser
understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) sold in a registered
transaction or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration and Shareholder Rights Agreement, neither the Company nor any other person is under any obligation to register the
Securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the SEC has taken the position that promoters or affiliates of a
blank check company and their transferees, both before and after an initial business combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company. Based on that
position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such Rule, and the Securities can be resold only through a registered
offering or in reliance upon another exemption from the registration requirements of the Securities Act. 
 (viii) The Purchaser has such
knowledge and experience in financial and business matters, knowledge of the high degree of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks
of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current
financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The Purchaser can afford a complete loss of its investment in the Securities. 

(ix) The Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the Warrant
Agreement. 
 Section 4. Conditions of the Purchaser’s Obligations. The obligations of the Purchaser
to purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or before the applicable Closing Date, of each of the following conditions: 

A. Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and
correct at and as of such Closing Date as though then made. 
 B. Performance. The Company shall have performed and complied with all
agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before such Closing Date. 

C. No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the
transactions contemplated by this Agreement or the Warrant Agreement. 

  
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 D. Warrant Agreement and Registration and Shareholder Rights Agreement. The Company
shall have entered into the Warrant Agreement and the Registration and Shareholder Rights Agreement, each on terms satisfactory to the Purchaser. 

E. Corporate Consents. The Company shall have obtained the consent of its board of directors authorizing (i) the execution,
delivery and performance of this Agreement, the Warrant Agreement and the Registration and Shareholder Rights Agreement and (ii) the issuance and sale of the Private Placement Warrants hereunder. 

Section 5. Conditions of the Company’s Obligations. The obligations of the Company to the Purchaser
under this Agreement are subject to the fulfillment, on or before the applicable Closing Date, of each of the following conditions: 
 A.
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and as of such Closing Date as though then made. 

B. Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this
Agreement that are required to be performed or complied with by the Purchaser on or before such Closing Date. 
 C. Corporate
Consents. The Company shall have obtained the consent of its board of directors authorizing (i) the execution, delivery and performance of this Agreement, the Warrant Agreement and the Registration and Shareholder Rights Agreement and
(ii) the issuance and sale of the Private Placement Warrants hereunder. 
 D. No Injunction. No litigation, statute, rule,
regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the
matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement. 

E. Warrant Agreement. The Company shall have entered into the Warrant Agreement on terms satisfactory to the Company. 

Section 6. Termination. This Agreement may be terminated at any time after December 31, 2021 upon the
election by either the Company or the Purchaser upon written notice to the other party if the IPO Closing Date does not occur prior to such date. 

Section 7. Miscellaneous. 

A. Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by
or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties hereto may
not assign this Agreement, other than assignments by the Purchaser to affiliates thereof (including, without limitation, one or more of its members). 

B. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of
this Agreement. 
 C. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of which need
contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. Signatures to this Agreement transmitted via facsimile or e-mail shall be
valid and effective to bind the party so signing. 

 D. Descriptive Headings; Interpretation. The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 

E. Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes
shall be construed in accordance with the internal laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the laws of another jurisdiction. 

F. Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by the parties hereto. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

					
	COMPANY:
	
	LAZARD GROWTH ACQUISITION CORP. I
		
	By:	 	  

		 	Name:	 	[●]
		 	Title:	 	[●]
	
	PURCHASER:
	
	LGACO 1 LLC
		
	By:	 	  

		 	Name:	 	[●]
		 	Title:	 	[●]

 [Signature Page to Private Placement Warrants Purchase Agreement]EX-10.5

 Exhibit 10.5 

[●], 2021 
 Lazard Growth Acquisition Corp.
I 
 30 Rockefeller Plaza 
 New York, New York 10112 

Re: Initial Public Offering 
 Ladies and Gentlemen: 

This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”) entered into by and among Lazard Growth Acquisition Corp. I, a Cayman Islands exempted company (the “Company”), Goldman Sachs & Co. LLC, as representative (the
“Representative”) of the several underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public Offering”) of 57,500,000 of the
Company’s units (including 7,500,000 units that may be purchased pursuant to the Underwriters’ option to purchase additional units to cover over-allotments, if any) (the “Units”), each comprised of one share of the
Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), and one-fifth of one redeemable warrant. Each
whole Warrant (each, a “Warrant”) entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units will be sold in the Public Offering pursuant to a Registration
Statement on Form S-1 and a related prospectus (the “Prospectus”) filed by the Company with the Securities and Exchange Commission (the “Commission”). Certain
capitalized terms used herein are defined in paragraph 1 hereof. 
 In order to induce the Company and the Underwriters to enter into the
Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, LGACo 1 LLC (the “Sponsor”) and each of the
undersigned individuals, each of whom is a member of the Company’s board of directors (the “Board”) and/or management team (each, an “Insider” and, collectively, the
“Insiders”), hereby agree with the Company, severally and not jointly, as follows: 
 1. Definitions. As used
herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses; (ii)
“Founder Shares” shall mean the 14,375,000 Class B ordinary shares of the Company, par value $0.0001 per share, outstanding prior to the consummation of the Public Offering (up to 1,875,000 of which are subject to
complete or partial forfeiture if the Underwriters’ over-allotment option is not exercised in full); (iii) “Private Placement Warrants” shall mean the warrants to purchase up to 8,000,000 Class A Ordinary Shares of
the Company that will be acquired by the Sponsor for an aggregate purchase price of $12,000,000 (or up to 9,000,000 Class A Ordinary Shares of the Company for an aggregate purchase price of $13,500,000 if the Underwriters’ exercise their
option to purchase additional Units in full), or $1.50 per Warrant, in a private placement that shall close simultaneously with the consummation of the Public Offering (including Class A Ordinary Shares issuable upon conversion thereof); (iv)
“Public Shareholders” shall mean the holders of Class A Ordinary Shares included in the Units issued in the Public Offering; (v) “Public Shares” shall mean the Class A Ordinary Shares
included in the Units issued in the Public Offering; (vi) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be
deposited; (vii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of,
directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any
security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b); and (viii)
“Charter” shall mean the Company’s Amended and Restated Memorandum and Articles of Association, as the same may be amended from time to time. 

 2. Representations and Warranties.  

(a) (i) The Sponsor and each Insider, with respect to itself, represent and warrant to the Company that it has the full right and power,
without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former
employer), to enter into this Letter Agreement, and (ii) each Insider, with respect to itself, (1) represents and warrants to the Company that it has the full right and power, without violating any agreement to which it is bound
(including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to serve as an officer of the Company and/or a
director on the Company’s Board, as applicable, and (2) consents to being named in the Prospectus, road show and any other materials as an officer and/or director of the Company, as applicable. 

(b) Each Insider represents and warrants, with respect to itself, that (i) such Insider’s biographical information furnished to the
Company (including any such information included in the Prospectus) is true and accurate in all material respects and does not omit any material information with respect to such Insider’s background, (ii) such Insider’s questionnaire
furnished to the Company is true and accurate in all material respects, (iii) such Insider is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction, (iv) such
Insider has never been convicted of, or pleaded guilty to, any crime (1) involving fraud, (2) relating to any financial transaction or handling of funds of another person or (3) pertaining to any dealings in any securities, and such
Insider is not currently a defendant in any such criminal proceeding and (v) such Insider has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license
or registration denied, suspended or revoked. 
 3. Business Combination Vote. The Sponsor and each Insider, with respect to itself,
agrees that if the Company seeks shareholder approval of a proposed initial Business Combination, then in connection with such proposed initial Business Combination, it shall vote all Founder Shares and any Public Shares held by it in favor of such
proposed initial Business Combination (including any proposals recommended by the Board in connection with such proposed initial Business Combination) and not redeem any Founder Shares or Public Shares held by it in connection with such shareholder
approval. 
 4. Failure to Consummate a Business Combination; Trust Account Waiver. 

(a) The Sponsor and each Insider hereby agree, with respect to itself, that in the event that the Company fails to consummate an initial
Business Combination within 24 months from the closing of the Public Offering, or such later period approved by the Company’s shareholders in accordance with the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the
Company to (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than 10 business days thereafter, redeem 100% of the Public Shares, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay its taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding Public Shares, which redemption will completely extinguish all Public Shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Board, liquidate
and dissolve, subject in the case of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law. The Sponsor and each
Insider, severally and not jointly, agree not to propose any amendment to the Charter (i) that would modify the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their Public Shares
redeemed in connection with an initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete an initial Business Combination within 24 months from the closing of the Public Offering or (ii) with respect to
any provision relating to the rights of holders of Public Shares unless the Company provides its Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay taxes, if any, divided by the number of then-outstanding Public Shares. 
 (b) The Sponsor and each Insider, with respect to itself,
acknowledges that it has no right, title, interest or claim of any kind in or to the Trust Account or any monies or other assets held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect
to the Founder Shares held by it, if 

 
any. The Sponsor and each Insider hereby further waive, with respect to any Founder Shares and Public Shares held by it, any redemption rights it may have in connection with the consummation of
an initial Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such initial Business Combination or a shareholder vote to approve an amendment to the Charter (i) that
would modify the substance or timing of the Company’s obligation to provide holders of the Public Shares the right to have their Public Shares redeemed in connection with an initial Business Combination or to redeem 100% of the Public Shares if
the Company has not consummated an initial Business Combination within 24 months from the closing of the Public Offering or (ii) with respect to any provision relating to the rights of holders of Public Shares (although the Sponsor and each
Insider shall be entitled to liquidation rights with respect to any Public Shares they hold if the Company fails to consummate an initial Business Combination within 24 months from the closing of the Public Offering). 

5. Lock-up; Transfer Restrictions.  

(a) The Sponsor and each Insider, severally and not jointly, agrees that it shall not Transfer any Founder Shares (the “Founder
Shares Lock-up”) until the earliest of (A) one year after the completion of an initial Business Combination and (B) subsequent to an initial Business Combination, the date on which
(x) the closing price of the Company’s Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days
within any 30-trading day period commencing at least 150 days after the initial Business Combination or (y) the Company completes a liquidation, merger, share exchange or other similar transaction that
results in all of the Company’s Public Shareholders having the right to exchange their Public Shares for cash, securities or other property (the “Founder Shares Lock-up Period”).

 (b) The Sponsor and each Insider, severally and not jointly, agrees that it shall not Transfer any Private Placement Warrants (including
the Class A Ordinary Shares issuable upon exercise of such Private Placement Warrants) until 30 days after the completion of an initial Business Combination (the “Private Placement Units
Lock-up Period” and, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”). 
 (c) Notwithstanding the provisions set forth in paragraphs 5(a) and 5(b), Transfers of the Founder Shares,
Private Placement Warrants and Class A Ordinary Shares underlying the Private Placement Warrants are permitted (a) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or
directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, any employees or directors of such affiliates (including, for the avoidance of doubt, employees and directors of Lazard Ltd and its subsidiaries)
or any funds or accounts advised by the Sponsor or its affiliates; (b) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the
individual’s immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an
individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of an initial Business Combination at prices no greater than the price at which the Founder Shares, Private
Placement Warrants or Class A Ordinary Shares, as applicable, were originally purchased; (f) by virtue of the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (g) to the Company for no value for
cancellation in connection with the consummation of an initial Business Combination, (h) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; or (i) in the event of completion of a
liquidation, merger, share exchange or other similar transaction which results in all of the Company’s Public Shareholders having the right to exchange their Public Shares for cash, securities or other property subsequent to the completion of
an initial Business Combination; provided, however, that in the case of clauses (a) through (f) such permitted transferees must enter into a written agreement agreeing to be bound by the transfer restrictions set forth in this
Letter Agreement. 
 (d) During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such
date, the Sponsor and each Insider shall not, without the prior written consent of the Representative, Transfer any Units, Class A Ordinary Shares, Warrants or any other securities convertible into, or exercisable or exchangeable for,
Class A Ordinary Shares held by it, subject to certain exceptions enumerated in Section 5(e) of the Underwriting Agreement. 

 6. Remedies. The Sponsor and each Insider, severally and not jointly, hereby agrees
and acknowledges that (i) each of the Underwriters and the Company would be irreparably injured in the event of a breach by the Sponsor or such Insider of its obligations, as applicable, under paragraphs 3, 4, 5, 7, 10 and 11, (ii) monetary
damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in
equity, in the event of such breach. 
 7. Payments by the Company. Except as disclosed in the Prospectus, neither the Sponsor nor
any director or officer of the Company or any of their respective affiliates shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any payment of a loan or other compensation prior to, or in
connection with, any services rendered in order to effectuate the consummation of the initial Business Combination (regardless of the type of transaction that it is). 

8. Director and Officer Liability Insurance. The Company will maintain an insurance policy or policies providing directors’ and
officers’ liability insurance, and each Insider shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers. 

9. Termination. This Letter Agreement shall terminate on the earlier of (i) the expiration of each of the Lock-up Periods and (ii) the liquidation of the Company; provided that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated by December 31, 2021;
provided, further, that paragraph 10 of this Letter Agreement shall survive any such liquidation. 
 10.
Indemnification. In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business Combination within the time period set forth in the Charter, the Sponsor (the
“Indemnitor”) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred
in investigating, preparing or defending against any litigation, whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or products sold to the Company
(except for the Company’s independent auditors) (a “Qualified Third Party”) or (ii) any prospective target business with which the Company has discussed entering into a transaction agreement (a
“Target”); provided, however, that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary to ensure that such claims by a Qualified Third Party or a Target do not
reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.00
per Public Share due to reductions in the value of the trust assets, in each case net of interest that may be withdrawn to pay the Company’s tax obligations, (y) shall not apply to any claims by a Qualified Third Party or a Target who
executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters against certain
liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following
written receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense. For the avoidance of doubt, none of the Company’s officers or directors will indemnify the Company
for claims by third parties, including, without limitation, claims by vendors and prospective target businesses. 
 11. Forfeiture of
Founder Shares. To the extent that the Underwriters do not exercise their over-allotment option in full to purchase additional Units within 45 days from the date of the Prospectus (as further described in the Prospectus), the Sponsor agrees to
automatically surrender to the Company for no consideration, for cancellation at no cost, an aggregate number of Founder Shares so that the number of Founder Shares will equal 20% of the sum of the total number of Class A Ordinary Shares and
Founder Shares outstanding at such time. The Sponsor and each Insider, severally and not jointly, further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a share capitalization or a
share repurchase, as applicable, with respect to the Founder Shares immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20% of the sum of the total number of Class A
Ordinary Shares and Founder Shares outstanding at such time. 
 12. Entire Agreement. This Letter Agreement constitutes the entire
agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way
to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, 

 
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by (i) each Insider that is affected by such change,
amendment, modification or waiver and (ii) the Sponsor. 
 13. Assignment. No party hereto may assign either this Letter
Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties hereto. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to
transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor, each of the Insiders and each of their respective successors, heirs, personal representatives and assigns and permitted
transferees. 
 14. No Third Party Beneficiaries. Nothing in this Letter Agreement shall be construed to confer upon, or give to, any
person or entity other than the parties hereto, any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises and
agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

15. Counterparts. This Letter Agreement may be executed in any number of original or facsimile counterparts, and each of such
counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

16. Effect of Headings. The paragraph headings herein are for convenience only and are not part of this Letter Agreement and shall not
affect the interpretation thereof. 
 17. Severability. This Letter Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the
parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

18. Governing Law. This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of,
or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive, and
(ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 
 19.
Notices. Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return
receipt requested), by hand delivery or by facsimile or other electronic transmission. 
 20. No Liability for Other Parties. No
party hereto shall be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party hereto (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party hereto shall be
liable or responsible for the obligations of another party hereto, including, without limitation, indemnification obligations and notice obligations. 

[Signature Page Follows] 

 
			
	Sincerely,
	LGACO 1 LLC
	
	By:                                   
                                         
                  
	Name:	 	
	Title:	 	

 
			
	
	      

	Alexander Stern
	
	      

	Eyal Ofir
	
	      

	Mary Ann Deignan
	
	      

	Adam Berlew
	
	      

	Pierre-Yves Cros
	
	      

	Philip Hadley
	
	      

	Noreen Roth Henig
	
	      

	Selina Tobaccowala

  

			
		 	Acknowledged and Agreed:
		
		 	LAZARD GROWTH ACQUISITION CORP. I
		
		 	      

		 	By:
		 	Name:
		 	Title:

 [Signature Page to Insider Letter]

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