Document
Exhibit 10.3
FOURTH AMENDMENT TO THE
LAZARD, INC.
2018 INCENTIVE COMPENSATION PLAN
WHEREAS, Lazard, Inc., a Delaware corporation (the “Company”), currently maintains and sponsors the Lazard, Inc. 2018 Incentive Compensation Plan, as amended (the “Plan”);
WHEREAS, Section 13(c) of the Plan provides that the Board of Directors of the Company (“Board”) may amend the Plan from time to time, except that shareholder approval shall be required for any amendment that would increase the maximum number of shares of common stock, par value $0.01 per share, of the Company (“Shares”) for which awards may be
granted under the Plan; and
WHEREAS, the Board has determined it to be in its best interests to amend the Plan as set forth herein (this “Fourth Amendment”).
NOW, THEREFORE:
1.Effective upon approval by the shareholders of the Company at the Company’s Annual Meeting of Shareholders on May 21, 2026, Section 3(a) of the Plan shall be, and hereby is, amended to increase the aggregate number of Shares for which awards may be granted under the Plan by 25,000,000. Therefore, a new sentence is hereby added to Section 3(a) immediately following the second sentence to read as follows:
“In addition, effective as of May 21, 2026, subject to adjustment as provided in Section 3(c), the maximum number of Shares that may be issued or paid under or with respect to all Awards (considered in the aggregate) granted under the Plan shall be increased by an additional 25,000,000 Shares”.
2.Except as modified by this Fourth Amendment, all of the terms and conditions of the Plan shall remain valid and in full force and effect.
IN WITNESS WHEREOF, Company has executed this Fourth Amendment to the Lazard, Inc. 2018 Incentive Compensation Plan as of May 21, 2026.
LAZARD, INC.
By: /s/ Shari Soloway
Name: Shari Soloway
Title: Corporate Secretary