LAZARD LTDLazard Group LLC • March 22nd, 2010 • Investment advice • New York
Reference is made to (a) the Amended and Restated Stockholders’ Agreement (as amended from time to time, the “Stockholders’ Agreement”), dated as of November 6, 2006, by and among LAZ-MD Holdings LLC, a Delaware limited liability company, Lazard Ltd, a company incorporated under the laws of Bermuda (“Lazard Ltd”), and the persons listed on the signature pages thereto, and (b) the Letter Agreement (the “Letter Agreement”), dated as of May 20, 2005, by and among the Trustees of The Cranberry Dune 1998 Long-Term Trust (the “Trust”) and Lazard Group LLC (“Lazard Group” and, together with Lazard Ltd, “Lazard”). Each capitalized term used and not defined herein shall have the meaning ascribed to such term in the Stockholders’ Agreement or the Letter Agreement, as applicable.
