Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 50

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 50
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 members of the Committee and their delegates against any claims, liabilities
or costs arising from the good faith performance of their duties under the 2022 Amended Plan. The 2022 Amended Plan releases these individuals
from liability for good faith actions associated with the 2022 Plan’s administration.

Eligibility. Grants
of Awards may be made to Trustees, Employees, Consultants, and persons to whom an offer of employment has been or is being extended, all
of whom constitute Eligible Persons. The Committee may grant Options that are intended to qualify as Incentive Stock Options, or ISOs,
only to Employees, and may grant all other Awards to Eligible Persons. The 2022 Amended Plan and the discussion below use the term “Participant”
to refer to an Eligible Person who has received an Award. As of March 31, 2025, we had seven non-employee Trustees, 59 employees
and no Consultants eligible to receive Awards under the 2022 Amended Plan. The maximum number of Shares subject to an Award or Awards
granted to any one Participant in any one calendar year may not exceed Shares having a Fair Market Value of the Grant Date of $7,850,000
(or $1,177,500 for non-Employee Trustee), subject to adjustment as provided in the 2022 Amended Plan.

Types of Awards.

Options. Options
granted under the 2022 Amended Plan provide Participants with the right to purchase Shares at a predetermined exercise price. The Committee
may grant Options that are intended to qualify as ISOs or Options that are not intended to so qualify, referred to herein as Non-ISOs.
The 2022 Amended Plan also provides that ISO treatment may not be available for Options that become first exercisable in any calendar
year to the extent the value of the underlying Shares that are the subject of the Option exceed $100,000 (based upon the fair market value
of the Shares on the Option Grant Date).

Share Appreciation Rights (SARs). A Share Appreciation Right generally permits a Participant who receives it to receive, upon
exercise, cash and/or Shares equal in value to an amount determined by multiplying (a) the excess of the fair market value, on the date
of exercise, of the Shares with respect to which the SAR is being exercised, over the exercise price of the SAR for such Shares by (b)
the number of Shares with respect to which the SARs are being exercised. The Committee