Document:

Form of Agreement

 Exhibit 10.55 

This document constitutes part of a prospectus covering securities that have been registered 

under the Securities Act of 1933. 

RESTRICTED STOCK AGREEMENT 

THIS AGREEMENT, dated as of [—], between Lazard Ltd, a Bermuda exempted company (the
“Company”), on behalf of its applicable Affiliate (as defined under the definitional rules of Section 1(a) below), and [—] (the “Employee”). 

W I T N E S S E T H 

In consideration of the mutual promises and covenants made herein and the mutual benefits to be derived here from, the parties hereto
agree as follows: 
 1. Grant and Vesting of Restricted Stock. 

(a) Subject to the provisions of this Agreement and to the provisions of the Company’s 2008 Incentive Compensation Plan (the
“Plan”) (all capitalized terms used herein, to the extent not defined, shall have the meaning set forth in the Plan), the Company, on behalf of its applicable Affiliate, shall grant to the Employee, as of
[—] (the “Grant Date”), [—] shares of Lazard Ltd Class A Common Stock (“Shares”) that shall be subject to certain transfer
restrictions, forfeiture provisions and other terms and conditions specified herein and in the Plan (the “Restricted Stock”). 

(b) Subject to the terms and conditions of this Agreement and to the provisions of the Plan, the Restricted Stock shall vest and no
longer be subject to any restriction (such period during which restrictions apply to the Restricted Stock is the “Restriction Period”) on [—] (the “Vesting Date”). 

(c) In the event that the Employee incurs a Termination of Employment during the Restriction Period for any reason not set forth in
Section 1(d), all Restricted Stock shall be forfeited by the Employee effective immediately upon such Termination of Employment 

(d)(i) In the event that the Employee incurs a Termination of Employment during the Restriction Period due to the Employee’s
Disability or due to a Termination of Employment by the Company other than for Cause (each, a “Qualifying Termination”), subject to Section 1(e), all Restricted Stock shall remain outstanding and continue to vest on the Vesting Date.

 (ii) In the event that the Employee incurs a Termination of Employment during the Restriction Period due to the
Employee’s death or, subject to Section 1(e), dies during the Restriction Period subsequent to a Termination of Employment described in the preceding sentence, all Restricted Stock shall immediately vest. 

(e) In the event that the Employee violates any of the provisions of Appendix A, which is incorporated herein by reference, all
outstanding Restricted Stock shall be forfeited and canceled. 

 (f) Notwithstanding the foregoing, in the event of a Change in Control, all outstanding
Restricted Stock shall automatically vest as of the date of such Change in Control. 
 2. Delivery of Restricted Stock. 

The Restricted Stock shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or
issuance of one or more stock certificates. Any certificate or book entry credit issued or entered in respect of the Restricted Stock shall be registered in the name of the Employee and shall bear an appropriate legend referring to the terms,
conditions and restrictions applicable to the Restricted Stock, substantially in the following form: 
 “The transferability
of this certificate and the shares of stock represented hereby is subject to the terms and conditions (including forfeiture) of the Lazard Ltd 2008 Incentive Compensation Plan and an Award Agreement, as well as the terms and conditions of applicable
law. Copies of such Plan and Agreement are on file at the offices of Lazard Ltd.” 
 The Committee is likely to require
that the certificates or book entry credits evidencing title of such Restricted Stock be held in custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of receiving the Restricted Stock, the Employee shall
have delivered to the Company a stock power, endorsed in blank, relating to such Restricted Stock. If and when the Vesting Date occurs with respect to the Restricted Stock, or the Restricted Stock otherwise becomes vested in accordance with
Section 1(d)(ii) or 1(f), provided that the Restricted Stock has not been forfeited pursuant to Section 1(c) or 1(e), the legend set forth above shall be removed from the certificates or book entry credits evidencing such Shares.
Notwithstanding the foregoing, the Company shall be entitled to hold the Restricted Stock until the Company shall have received from the Employee a duly executed Form W-9 or W-8, as applicable. 

3. Nontransferability of the Restricted Stock. 

Except as set forth in Sections 1(d)(ii) and 1(f) above, all Restricted Stock shall remain subject to the restrictions set forth in this
Agreement, including the forfeiture provisions set forth in Sections 1(c) and 1(e), until the Vesting Date. Prior to the Vesting Date, the Restricted Stock shall not be transferable by the Employee, and neither the Employee nor its creditors shall
have the right to subject the Restricted Stock to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, hedge, exchange, attachment or garnishment or any similar transaction. 

4. Dividend Equivalents; Voting Rights. 

If the Company declares and pays ordinary quarterly cash dividends on Shares during the Restriction Period, the Employee shall be credited
with cash, which shall be held by the Company or an escrow agent that is designated by the Company and shall vest concurrently with the underlying Restricted Stock (it being understood that the provisions of this sentence shall not apply to any
extraordinary dividends or distributions). The Employee shall have, with respect to the Restricted Stock, the same right to vote the Shares as a shareholder of Shares. 
  

 -2- 

 5. Payment of Transfer Taxes, Fees and Other Expenses. 

The Company agrees to pay any and all original issue taxes and stock transfer taxes that may be imposed on the issuance of Shares received
by an Employee in connection with the Restricted Stock, together with any and all other fees and expenses necessarily incurred by the Company in connection therewith. 

6. Section 83(b) Election. 

The Employee agrees that the Employee will make an election to be taxed immediately on the value of the Restricted Stock (calculated
without regard to the restrictions) on the Grant Date. In order to do so, the Employee must file an election with the Internal Revenue Service pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”),
and the applicable Treasury Regulations thereunder with respect to the Restricted Stock within 30 days following the Grant Date. The Employee agrees that any such Section 83(b) election will apply to all Restricted Stock that the Employee
receives pursuant to this Agreement. The Employee further agrees that the Employee will provide a copy of such Section 83(b) election to the Company not later than ten (10) days after filing the election with the Internal Revenue Service
or other governmental authority. The Company has made no recommendation to the Employee with respect to the advisability of making the Section 83(b) election. The Employee acknowledges that it is the Employee’s sole responsibility to seek
advice regarding Section 83(b) of the Code and to determine the effect of making such election. Notwithstanding any provision of this Agreement to the contrary, in no event shall the Company allow the Employee to sell any portion of the
Restricted Stock in order to enable the Employee to pay any taxes that the Employee is required to pay as a result of making a Section 83(b) election. 

7. Effect of Agreement. 

Except as otherwise provided hereunder, this Agreement shall be binding upon and shall inure to the benefit of any successor or successors
of the Company. The invalidity or enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. Nothing in this Agreement or the Plan shall confer upon the Employee any
right to employment by the Company or any of its Affiliates or interfere in any way with the right of the Company or any such Affiliates to terminate the Employee’s employment at any time. 

8. Laws Applicable to Construction; Consent to Jurisdiction. 

(a) This Agreement shall be governed by and construed in accordance with the laws of the State of New York (United States of America),
without regard to principles of conflict of laws which could cause the application of the law of any jurisdiction other than the State of New York. In addition to the terms and conditions set forth in this Agreement and Appendix A, the Restricted
Stock is subject to the terms and conditions of the Plan, which is hereby incorporated by reference. By signing this Agreement, the Employee agrees to and is bound by the Plan and the restrictive covenants set forth in Appendix A. 

(b) Any controversy or claim between the Employee and the Company or its Affiliates arising out of or relating to or concerning the
provisions of this Agreement or the Plan 
  

 -3- 

 
shall be finally settled by arbitration in New York City before, and in accordance with the rules then obtaining of, the Financial Industry Regulatory Authority (“FINRA”) or, if FINRA
declines to arbitrate the matter, the American Arbitration Association (the “AAA”) in accordance with the commercial arbitration rules of the AAA. 

(c) The Employee and the Company hereby irrevocably submit to the exclusive jurisdiction of any state or federal court located in the
City of New York over any suit, action, or proceeding arising out of relating to or concerning this Agreement or the Plan that is not otherwise required to be arbitrated or resolved in accordance with the provisions of Section 8(b). This
includes any suit, action or proceeding to compel arbitration or to enforce an arbitration award. The Employee and the Company acknowledge that the forum designated by this Section 8(c) has a reasonable relation to this Agreement, and to the
Employee’s relationship to the Company. Notwithstanding the foregoing, nothing herein shall preclude the Company or the Employee from bringing any action or proceeding in any other court for the purpose of enforcing the provisions of Sections
8(a), 8(b), or this Section 8(c). The agreement of the Employee and the Company as to forum is independent of the law that may be applied in the action, and the Employee and the Company agree to such forum even if the forum may under applicable
law choose to apply non-forum law. The Employee and the Company hereby waive, to the fullest extent permitted by applicable law, any objection which the Employee or the Company now or hereafter may have to personal jurisdiction or to the laying of
venue of any such suit, action or proceeding in any court referred to in this Section 8(c). The Employee and the Company undertake not to commence any action arising out of or relating to or concerning this Agreement in any forum other than a
forum described in this Section 8(c), or, to the extent applicable, Section 8(b). The Employee and the Company agree that, to the fullest extent permitted by applicable law, a final and non-appealable judgment in any such suit, action or
proceeding in any such court shall be conclusive and binding upon the Employee and the Company. 
 9. Conflicts and Interpretation.

 In the event of any conflict between this Agreement and the Plan, the Plan shall control. In the event of any ambiguity in
this Agreement, or any matters as to which this Agreement is silent, the Plan shall govern including, without limitation, the provisions thereof pursuant to which the Committee has the power, among others, to (i) interpret the Plan,
(ii) prescribe, amend and rescind rules and regulations relating to the Plan, and (iii) make all other determinations deemed necessary or advisable for the administration of the Plan. 

10. Amendment. 
 Any
modification, amendment or waiver to this Agreement that shall materially impair the rights of the Employee with respect to the Restricted Stock shall require an instrument in writing to be signed by both parties hereto, except such a modification,
amendment or waiver made to cause the Plan or the Restricted Stock to comply with applicable law, tax rules, stock exchange rules or accounting rules and which is made to similarly situated employees. The waiver by either party of compliance with
any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement. 

 

 -4- 

 11. Headings. 

The headings of paragraphs herein are included solely for convenience of reference and shall not affect the meaning or interpretation of
any of the provisions of this Agreement. 
 12. Counterparts. 

This Agreement may be executed in counterparts, which together shall constitute one and the same original. 

IN WITNESS WHEREOF, as of the date first above written, the Company has caused this Agreement to be executed on behalf of its applicable
Affiliate by a duly authorized officer and the Employee has hereunto set the Employee’s hand. 
  

			
	 LAZARD LTD

		
	By:	 	  

	Name:	 	
	Title:	 	
		
		 	  

		 	NAME OF EMPLOYEE

  

 -5- 

 Appendix A 

Restrictive Covenants 

The Employee acknowledges that the grant of the Restricted Stock pursuant to the Restricted Stock Agreement (the “Agreement”)
confers a substantial benefit upon the Employee, and agrees to the following covenants, which are designed, among other things, to protect the interests of the Company and its Affiliates (collectively, the “Firm”) in confidential and
proprietary information, trade secrets, customer and employee relationships, orderly transition of responsibilities, and other legitimate business interests. The Employee acknowledges that, pursuant to Section 1(e) of the Agreement, all
outstanding Restricted Stock will be forfeited upon a violation by the Employee of the following covenants: 
 (a)
Confidential Information. The Employee shall not at any time (whether prior to or following the Employee’s Termination of Employment) disclose or use for the Employee’s own benefit or purposes or the benefit or purposes of any other
person, corporation or other business organization or entity, other than the Firm, any trade secrets, information, data, or other confidential or proprietary information relating to the customers, developments, programs, plans or business and
affairs of the Firm, provided that the foregoing shall not apply to information that is not unique to the Firm or that is generally known to the industry or the public other than as a result of the Employee’s breach of this covenant or as
required pursuant to an order of a court, governmental agency or other authorized tribunal (provided that the Employee shall provide the Firm prior written notice of any such required disclosure). The Employee agrees that upon the Employee’s
Termination of Employment, the Employee or, in the event of the Employee’s death, the Employee’s heirs or estate at the request of the Firm, shall return to the Firm immediately all books, papers, plans, information, letters and other
data, and all copies thereof or therefrom, in any way relating to the business of the Firm. Without limiting the foregoing, the existence of, and any information concerning, any dispute between the Employee and the Firm shall be subject to the terms
of this Paragraph (a), except that the Employee may disclose information concerning such dispute to the arbitrator or court that is considering such dispute, and to the Employee’s legal counsel, spouse or domestic partner, and tax and financial
advisors (provided that such persons agree not to disclose any such information). 
 (b) Non-Competition. The Employee
acknowledges and recognizes the highly competitive nature of the businesses of the Firm. The Employee further acknowledges that the Employee has been and shall be provided with access to sensitive and proprietary information about the clients,
prospective clients, knowledge capital and business practices of the Firm, and has been and shall be provided with the opportunity to develop relationships with clients, prospective clients, consultants, employees, representatives and other agents
of the Firm, and the Employee further acknowledges that such proprietary information and relationships are extremely valuable assets in which the Firm has invested and shall continue to invest substantial time, effort and expense. The Employee
agrees that while employed by the Firm and thereafter until the later of (i) three months after the Employee’s date of Termination of Employment for any reason other than a termination by the Firm without Cause or (ii) one month after
the date of the Employee’s Termination of Employment by the Firm without Cause (in either case, the date of any such Termination of Employment, the “Date of Termination,” and such period, the “Noncompete Restriction
Period”), the Employee shall not, directly or indirectly, on the 
  

 A-1 

 
Employee’s behalf or on behalf of any other person, firm, corporation, association or other entity, as an employee, director, advisor, partner, consultant or otherwise, provide services or
perform activities for, or acquire or maintain any ownership interest in, a “Competitive Enterprise.” For purposes of this Appendix, “Competitive Enterprise” shall mean a business (or business unit) that (x) engages in any
activity or (y) owns or controls a significant interest in any entity that engages in any activity, that in either case, competes anywhere with any activity that is similar to an activity in which the Firm is engaged up to and including the
Employee’s Date of Termination. Notwithstanding anything in this Appendix, the Employee shall not be considered to be in violation of this Appendix solely by reason of owning, directly or indirectly, any stock or other securities of a
Competitive Enterprise (or comparable interest, including a voting or profit participation interest, in any such Competitive Enterprise) if the Employee’s interest does not exceed 5% of the outstanding capital stock of such Competitive
Enterprise (or comparable interest, including a voting or profit participation interest, in such Competitive Enterprise). The Employee acknowledges that the Firm is engaged in business throughout the world. Accordingly, and in view of the nature of
the Employee’s position and responsibilities, the Employee agrees that the provisions of this Paragraph (b) shall be applicable to each jurisdiction, foreign country, state, possession or territory in which the Firm may be engaged in
business while the Employee is providing services to the Firm. 
 (c) Nonsolicitation of Clients. The Employee hereby
agrees that during the Noncompete Restriction Period, the Employee shall not, in any manner, directly or indirectly, (i) Solicit a Client to transact business with a Competitive Enterprise or to reduce or refrain from doing any business with
the Firm, to the extent the Employee is soliciting a Client to provide them with services the performance of which would violate Paragraph (b) above if such services were provided by the Employee, or (ii) interfere with or damage (or
attempt to interfere with or damage) any relationship between the Firm and a Client. For purposes of this Appendix, the term “Solicit” means any direct or indirect communication of any kind whatsoever, regardless of by whom initiated,
inviting, advising, persuading, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action, and the term “Client” means any client or prospective client of the Firm to whom the Employee
provided services, or for whom the Employee transacted business, or whose identity became known to the Employee in connection with the Employee’s relationship with or employment by the Firm, whether or not the Firm has been engaged by such
Client pursuant to a written agreement; provided that an entity which is not a client of the Firm shall be considered a “prospective client” for purposes of this sentence only if the Firm made a presentation or written proposal to such
entity during the 12-month period preceding the Date of Termination or was preparing to make such a presentation or proposal at the time of the Date of Termination. 

(d) No Hire of Employees. The Employee hereby agrees that while employed by the Firm and thereafter until six months after the
date of the Termination of Employment for any reason (the “No Hire Restriction Period”), the Employee shall not, directly or indirectly, for himself or on behalf of any third party at any time in any manner, Solicit, hire, or otherwise
cause any employee who is at the associate level or above (including, without limitation, managing directors), officer or agent of the Firm to apply for, or accept employment with, any Competitive Enterprise, or to otherwise refrain from rendering
services to the Firm or to terminate his or her relationship, contractual or otherwise, with the Firm, other than in response to a general advertisement or public solicitation not directed specifically to employees of the Firm. 

 

 A-2 

 (e) Nondisparagement. The Employee shall not at any time (whether prior to or
following the Employee’s Termination of Employment), and shall instruct the Employee’s spouse, domestic partner, parents, and any of their lineal descendants (it being agreed that in any dispute between the parties regarding whether the
Employee breached such obligation to instruct, the Firm shall bear the burden of demonstrating that the Employee breached such obligation) not to, make any comments or statements to the press, employees of the Firm, any individual or entity with
whom the Firm has a business relationship or any other person, if such comment or statement is disparaging to the Firm, its reputation, any of its affiliates or any of its current or former officers, members or directors, except for truthful
statements as may be required by law. 
 (f) Notice of Termination Required. The Employee agrees to provide three
months’ written notice to the Firm prior to the Employee’s Termination of Employment. The Employee hereby agrees that, if, during the three-month period after the Employee has provided notice of termination to the Firm or prior thereto,
the Employee enters (or has entered into) a written agreement to provide services or perform activities for a Competitive Enterprise that would violate Paragraph (b) if performed during the Noncompete Restriction Period, such action shall be
deemed a violation of this Paragraph (f). 
 (g) Covenants Generally. The Employee’s covenants as set forth in this
Appendix are referred to herein as the “Covenants.” If any of the Covenants is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such Covenant shall be deemed modified to the extent, but only to the
extent, of such invalidity, illegality or unenforceability and the remaining such Covenants shall not be affected thereby; provided, however, that if any of such Covenants is finally held to be invalid, illegal or unenforceable because it
exceeds the maximum scope determined to be acceptable to permit such provision to be enforceable, such Covenant shall be deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable
hereunder. The Employee hereby agrees that prior to accepting employment with any other person or entity during his period of service with the Firm or during the Noncompete Restriction Period or the No Hire Restriction Period, the Employee shall
provide such prospective employer with written notice of the provisions of this Appendix, with a copy of such notice delivered no later than the date of the Employee’s commencement of such employment with such prospective employer, to the
General Counsel of the Company. The Employee acknowledges and agrees that the terms of the Covenants: (i) are reasonable in light of all of the circumstances, (ii) are sufficiently limited to protect the legitimate interests of the Firm,
(iii) impose no undue hardship on the Employee and (iv) are not injurious to the public. The Employee acknowledges and agrees that the Employee’s breach of the Covenants will cause the Firm irreparable harm, which cannot be adequately
compensated by money damages. The Employee further acknowledges that the Covenants and notice period requirements set forth herein shall operate independently of, and not instead of, any other restrictive covenants or notice period requirements to
which the Employee is subject pursuant to other plans and agreements involving the Firm. 
  

 A-3Letter Agreement

 Exhibit 10.52 

April 21, 2010 

Mr. Gary W. Parr 
 Lazard
Freres & Co. LLC 
 30 Rockefeller Plaza 

New York, NY 10020 
 Dear Mr. Parr:

 This letter will confirm our understanding regarding certain terms that will be applicable to your continued employment with
Lazard Frères & Co. LLC (“Lazard”). 
 Reference is hereby made to the letter
agreement, dated as of September 3, 2008, between you and Lazard Group LLC regarding your employment with Lazard and which set forth your right to guaranteed annual compensation of no less than $10,000,000 for each of 2009 through 2012 (the
“Prior Agreement”), subject to the terms of the Prior Agreement. The parties desire to amend and restate the Prior Agreement to reduce the portion of the guaranteed annual compensation that is payable to you as base salary for 2010, 2011
and 2012. Therefore, you and Lazard hereby agree that the Prior Agreement is amended and restated in its entirety to read as follows: 

1. Guarantee: For the remaining portion of calendar year 2010 and for each of calendar years 2011 and 2012, as long as you remain
employed by Lazard at the end of the relevant year or have been terminated without Cause (as defined in Annex 1), you will receive: 

A. With effect as of the date hereof, an annual base salary at a rate of no less than $750,000, which will be payable in
accordance with Lazard’s normal practices, and 
 B. A payment of no less than $10,000,000 less amounts paid
to you in the relevant year as salary (each of such amounts, the “Annual Payment”). 
 The cash portion of the Annual Payment,
together with amounts paid in the relevant year as salary, shall equal the greater of (a) $5,000,000 and (b) the Agreed Percentage (as defined in Annex 1) with respect to the relevant year. The remaining portion of the Annual Payment shall
be granted in stock units of Lazard Ltd Class A Common Stock (upon the execution of an award agreement in substantially the same form as that executed by the Deputy Chairmen). The stock units shall be granted on the Agreed Terms with respect to
the relevant year. The cash portion of the Annual Payment (less salary) shall be fully vested following the end of the relevant year and payable during the following year in three equal installments on each of the dates that the three distributions
are paid to other similarly situated Lazard Managing Directors, currently on or about February 1, March 1 and March 15. 

 2. Credit of Other Amounts. Notwithstanding anything to the contrary contained in
this letter agreement, you and we agree that 50% of the amounts, if any, received by you in connection with any Lazard-affiliated financial institutions fund shall be credited to the amounts otherwise payable to you under Paragraph 1 of this letter
agreement. Lazard agrees that any such crediting will be effected in compliance with Section 409A of the Internal Revenue Code, as amended (the “Code”), and will not be effected to the extent it would result in the imposition of tax
under that Section. 
 3. Title; Status as “At Will” Employee: During your continued employment with Lazard,
you shall serve as Vice Chairman of Lazard, with responsibilities materially commensurate with those of the Deputy Chairmen. Subject to Paragraph 1 hereof, at all times, you will be treated as an “at will” employee who can be terminated or
who can resign (subject to satisfaction of any applicable notice provisions) at any time for any reason or no reason at all. For the avoidance of doubt, on any termination of your employment by Lazard without Cause, all financial obligations of
Lazard to you will vest as provided herein. 
 4. Additional Obligations of Lazard: In addition to the other obligations
provided for in this letter, Lazard agrees to the provisions of Annex 2. 
 5. Award Agreements: We agree that the
interest you currently own in Fox Pitt Kelton shall not be considered to be in violation of, or give rise to a violation of, any non-competition covenant contained in any restricted stock unit agreement or other award agreement between you, on one
the hand, and Lazard, Lazard Ltd or any of their affiliates, on the other hand, whether entered into on, prior to or after the date of this letter (collectively, the “Award Agreements”). We also agree that any activities by Fox Pitt Kelton
that do not involve any direct or indirect rendering of services by you shall not be considered to be in violation of, or give rise to a violation of, any nonsolicitation, no-hire or similar covenants contained in any Award Agreement. For the
avoidance of doubt, this Paragraph 5 will supersede the provisions of any Award Agreement that is currently outstanding or that may be entered into on or after the date of this letter, unless such contemporaneous or later Award Agreement
specifically references this letter. Except to the limited extent provided above, the Award Agreements shall remain in full force and effect. 

6. Governing Law; Arbitration: This agreement and any claim related directly or indirectly to this agreement (including any claim
concerning advice provided pursuant to this agreement) shall be governed and construed in accordance with the laws of the State of New York (without giving regard to the conflicts of law provisions thereof). All disputes, controversies and claims
arising out of or relating to this agreement or any breach or termination or alleged breach or termination of this agreement shall be 

 

 -2- 

 
governed by the dispute resolution provisions of the Award Agreement governing the restricted stock units most recently granted to you prior to the date of this Agreement. This letter agreement
and the other outstanding Award Agreements represent our entire agreement with respect to your continued employment. 
 7.
Code Section 409A: It is the intention of you and Lazard that the payments to which you could become entitled under this agreement comply with or are exempt from the definition of “nonqualified deferred compensation” under
section 409A of the Code. Lazard agrees to administer this letter in a manner consistent with the foregoing statement of intent (including administering any change in your salary to comply with Section 409A). In this regard, notwithstanding
anything in this agreement to the contrary, all cash amounts that become payable under this agreement on account of your termination of employment shall be paid no later than March 15 of the year following the year in which the date of
termination occurred. Within the time period permitted by the applicable Treasury Regulations, in the event you and Lazard determine that the terms of this agreement do not comply with Section 409A, you and Lazard will negotiate reasonably and
in good faith to amend the terms of this agreement such that it complies (in a manner that attempts to minimize the economic impact of such amendment to you and Lazard). 

Please confirm your acceptance of the foregoing by executing the enclosed copy of this letter, upon which it shall become a binding
agreement between us. 
  

			
	Very truly yours,
	
	LAZARD GROUP LLC
		
	By:	 	 /s/ Scott D. Hoffman

		 	Scott D. Hoffman
		 	 Managing Director and

General Counsel

  

	
	AGREED TO AND ACCEPTED:
	
	 /s/ Gary W. Parr

	Gary W. Parr
	
	Date:  April 21, 2010
	

  

 -3- 

 Annex 1 

Certain Defined Terms 

Agreed Percentage 
 “Agreed
Percentage” means, for any year, (1) the percentage of the average cash portion of the annual total compensation that was paid with respect to the relevant year to the Deputy Chairmen who have not reached retirement age (or to the
extent such percentage is not fixed before the beginning of such year in a manner that complies with Section 409A of the Code, the immediately preceding year) or (2) such other percentage as you and Lazard may agree in compliance with
Section 409A of the Code. 
 Agreed Terms 

“Agreed Terms” means, for any year, (1) substantially the same payment, vesting and other terms as applied to the Deputy Chairmen
with respect to the prior year (or to the extent such terms are not fixed before the beginning of such year in a manner that complies with Section 409A of the Code, the immediately preceding year) or (2) such other terms as you and Lazard
may agree to in compliance with Section 409A of the Code. 
 Cause 

“Cause” means: (i) your conviction, or a guilty or nolo contendere plea (or the equivalent in a non-United States
jurisdiction) by you to, a felony (or the equivalent in a non-United States jurisdiction), or of any other crime that legally prohibits you from working for Lazard or its affiliates; (ii) breach by you of a regulatory rule that materially
adversely affects your ability to perform your duties; (iii) willful and deliberate failure on your part (A) to perform your employment duties in any material respect or (B) to follow specific reasonable directions received from
Lazard or its Affiliates or to comply with the written policies of Lazard or its Affiliates in any material respect, in each case following written notice to you of such failure and, if such failure is curable, your failing to cure such failure
within a reasonable time (but in no event less than thirty days); or (iv) a breach of a Covenant (as defined in the relevant Award Agreement) that is (individually or combined with other such breaches) demonstrably and materially injurious to
the Lazard or any of its affiliates. 
 For purposes of this provision, no act or failure to act, on your part, shall be considered
“willful” unless it is done, or omitted to be done, by you in bad faith or without reasonable belief that your action or omission was in the best interests of Lazard. Any act, or failure to act, based upon authority given pursuant to a
resolution duly adopted by the Board of Directors of Lazard Ltd (the “Board”) or upon the instructions of the Board or based upon the advice of counsel for Lazard shall be conclusively presumed to be done, or omitted to be done, by you in
good faith and in the best interests of Lazard. 
 In addition, any requirement that your principal place of employment be relocated to a
location that increases your commute by more than thirty miles from the commute to your principal place of employment for Lazard in New York, NY shall be treated as a termination without Cause for all purposes under the letter agreement and under
any Award Agreement). 

 Annex 2 

Additional Obligations of Lazard 

Section 1. Certain Additional Payments by Lazard. 

(a) Anything in the letter agreement to the contrary notwithstanding, in the event it shall be determined that any payment, benefit or
distribution by Lazard Ltd or its affiliates to or for your benefit (whether paid or payable or distributed or distributable pursuant to the terms of the letter agreement or otherwise, but determined without regard to any additional payments
required under this Section 1) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by you with respect to such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then you shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that
after payment by you of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the
Gross-Up Payment, but excluding any income taxes and penalties imposed pursuant to Section 409A of the Code, you retain an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Lazard’s obligation to make
Gross-Up Payments under this Section 1 shall not be conditioned upon your termination of employment. 
 (b) Subject to the
provisions of Section 1(c), all determinations required to be made under this Section 1, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at
such determination, shall be made by Deloitte & Touche LLP or such other nationally recognized certified public accounting firm reasonably acceptable to Lazard as may be designated by you (the “Accounting Firm”), which
shall provide detailed supporting calculations both to Lazard and to you within 15 business days of the receipt of notice from you that there has been a Payment, or such earlier time as is requested by Lazard. All fees and expenses of the Accounting
Firm shall be borne solely by Lazard. Any determination by the Accounting Firm shall be binding upon you and Lazard and its affiliates. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial
determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by Lazard should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In
the event that Lazard exhausts its remedies pursuant to Section 1(c) and you thereafter are required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by Lazard to or for your benefit. 
 (c) You shall notify Lazard in writing of any claim by
the Internal Revenue Service that, if successful, would require the payment of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after you are informed in writing of such claim, and
shall apprise Lazard of the nature of such claim and the date on which such claim is requested to be paid. You shall not pay such claim prior to the expiration of the 30-day period following the date on which it gives such notice to Lazard (or such
shorter period ending on the date that any payment of taxes with respect to such claim is due). If Lazard notifies you in writing prior to the expiration of such period that it desires to contest such claim, you shall: 

(i) give Lazard any information reasonably requested by Lazard relating to such claim, 

(ii) take such action in connection with contesting such claim as Lazard shall reasonably request in writing from time to
time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by Lazard, 

 (iii) cooperate with Lazard in good faith in order to effectively contest
such claim, and 
 (iv) permit Lazard to participate in any proceedings relating to such claim; 

provided, however, that Lazard shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in
connection with such contest, and shall indemnify and hold you harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs
and expenses. Without limitation on the foregoing provisions of this Section 1(c), Lazard shall control all proceedings taken in connection with such contest, and, at its sole discretion, may pursue or forgo any and all administrative appeals,
proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole discretion, either pay the tax claimed to the appropriate taxing authority on your behalf and direct you to sue for a refund or
contest the claim in any permissible manner, and you agree to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as Lazard shall determine;
provided, however, that, if Lazard pays such claim and directs you to sue for a refund, Lazard shall indemnify and hold you harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed
with respect to such payment or with respect to any imputed income with respect to such payment; and further provided, that any extension of the statute of limitations relating to payment of taxes for your taxable year with respect to which
such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, Lazard’s control of the contest shall be limited to issues with respect to which the Gross-Up Payment would be payable hereunder, and you shall
be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

(d) If, after your receipt of a Gross-Up Payment or payment by Lazard of an amount on your behalf pursuant to Section 1(c), you
become entitled to receive any refund with respect to the Excise Tax to which such Gross-Up Payment relates or with respect to such claim, you shall (subject to Lazard’s complying with the requirements of Section 1(c), if applicable)
promptly pay to Lazard the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after payment by Lazard of an amount on your behalf pursuant to Section 1(c), a determination is made
that you shall not be entitled to any refund with respect to such claim and Lazard does not notify you in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then the amount previously
paid shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
 (e) Any Gross-Up Payment, as
determined pursuant to this Section 1, shall be paid by Lazard to you within five days of the receipt of the Accounting Firm’s determination; provided that, the Gross-Up Payment shall in all events be paid no later than the end of
your taxable year next following your taxable year in which the Excise Tax (and any income or other related taxes or interest or penalties thereon) on a Payment are remitted to the Internal Revenue Service or any other applicable taxing authority
or, in the case of amounts relating to a claim described in Section 1(c) that does not result in the remittance of any federal, state, local and foreign income, excise, social security and other taxes, the calendar year in which the claim is
finally settled or otherwise resolved. Notwithstanding any other provision of this Section 1, Lazard may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for your benefit,
all or any portion of any Gross-Up Payment, and you hereby consent to such withholding. 
 Section 2. Non-Disparagement 

Lazard agrees that it and its affiliates shall not at any time, and Lazard Ltd shall instruct its directors and executive officers not to, make any
comments or statements to the press, employees of Lazard or its affiliates, any individual or entity with whom the Company has a business relationship or any other person, if such comment or statement is disparaging to you or your reputation, except
for truthful statement as may be required by law.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]