Common use of Option to Purchase LAI Europe Clause in Contracts

Option to Purchase LAI Europe. Lazard Group shall have the right and option, to be exercised at any time on or prior to the ninth anniversary of the date hereof and in Lazard Group’s sole and absolute discretion, to purchase and acquire all of the issued shares in the share capital of Lazard Alternative Investments (Europe) Limited, a private limited company organized under the laws of England and Wales (“LAI Europe”), for an aggregate purchase price of two million dollars (U.S. $2,000,000) (the “European Option”). To exercise the European Option, Lazard Group shall deliver a written notice (the “European Option Notice”) to LFCM Holdings setting forth (a) that Lazard Group is exercising the European Option and (b) the date, time and location of the purchase and sale of all of the issued shares in the share capital of LAI Europe pursuant to the exercise of the European Option; provided, however, that such date shall be at least 45 business days after the European Option Notice is delivered to LFCM Holdings.

Option to Purchase LAI Europe. Lazard Group shall have the right and option, to be exercised at any time on or prior to the ninth nine-year anniversary of the date hereof and in Lazard Group’s sole and absolute discretion, to purchase and acquire all of the issued shares outstanding limited liability company interests in the share capital of Lazard Alternative Investments (Europe) Limited, a U.K. private limited company organized under the laws of England and Wales (“LAI Europe”), for an aggregate purchase price of two million dollars (U.S. $2,000,000) (the “European Option”). To exercise the European Option, Lazard Group shall deliver a written notice (the “European Option Notice”) to LFCM Holdings setting forth (a) that Lazard Group is exercising the European Option and (b) the date, time and location of the purchase and sale of all of the issued shares in the share capital outstanding limited liability company interests of LAI Europe pursuant to the exercise of the European Option; provided, however, that such date shall be at least 45 business days Business Days after the European Option Notice is delivered to LFCM Holdings.