Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 94

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 94
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 it deems advisable. In the absence of a duly appointed Committee, the Board shall function as the Committee for all purposes of the Plan.

(a) Committee Composition. The Board shall appoint the members of the Committee. The Board may at any time appoint additional members to the Committee,
remove and replace members of the Committee with or without Cause, and fill vacancies on the Committee however caused.

(b) Powers of the Committee. Subject to the provisions of the Plan, the Committee shall have the authority, in its sole discretion:

(i) to
grant Awards and to determine Eligible Persons to whom Awards shall be granted from time to time and the number of Shares, units, or dollars
to be covered by each Award;

(ii) to
determine, from time to time, the Fair Market Value of Shares;

(iii) to
determine, and to set forth in Award Agreements, the terms and conditions of all Awards, including, but not limited to, any applicable
exercise or purchase price, the installments and conditions under which an Award shall become vested (which may be based on performance),
terminated, expired, cancelled, or replaced, and the circumstances for vesting acceleration or waiver of forfeiture restrictions, and
other restrictions and limitations;

(iv) to
approve the forms of Award Agreements and all other documents, notices, and certificates in connection therewith which need not be identical
either as to type of Award or among Participants;

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(v) to
construe and interpret the terms of the Plan and any Award Agreement, to determine the meaning of their terms, and to prescribe, amend,
and rescind rules and procedures relating to the Plan and its administration;

(vi) to
the extent consistent with the purposes of the Plan and without amending the Plan, to modify, to cancel, or to waive the Company’s
rights with respect to any Awards, to adjust or to modify Award Agreements for changes in Applicable Law, and to recognize differences
in foreign law, tax policies, or customs;

(vii) to
require, as a condition precedent to the grant, vesting, exercise, settlement, and/or issuance of Shares pursuant to any Award, that a
Participant agree to execute a general release of claims (in any form that the Committee may require, in its sole discretion, which form
may include any other provisions (e.g. confidentiality and restrictions on competition) that are found in general claims release
agreements that the Company utilizes or expects to utilize);

(viii