Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 54

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 54
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 vesting of
such Awards in full as of a date immediately prior to consummation of the Change in Control. If an Award is not exercised prior to consummation
of a transaction in which the Award is not being assumed or substituted, such Award shall terminate upon such consummation.

Notwithstanding
the above, in the event a Participant holding an Award assumed or substituted by the successor corporation in a Change in Control is Involuntarily
Terminated by the successor corporation in connection with, or within 12 months (or other period either set forth in an Award Agreement,
or as increased thereafter by the Committee to a period longer than 12 months) following consummation of, the Change in Control, then
any assumed or substituted Award held by the terminated Participant at the time of termination shall accelerate and become fully vested
(and exercisable in full in the case of Options and SARs), and any repurchase right applicable to any Shares shall lapse in full.

If we dissolve
or liquidate, subject to the terms of any Award Agreements or employment-related agreements between the Company or any of its Affiliates
and any Participant, all Awards will terminate immediately prior to such dissolution or liquidation, subject to the ability of the Committee
to exercise any discretion authorized in the case of a Change in Control.

Term of the 2022 Amended Plan; Amendments or Termination. The term of the 2022 Amended Plan is ten years from March 31,
2022. Our Board of Trustees may from time to time, amend, alter, suspend, discontinue or terminate the 2022 Amended Plan; provided that
no amendment, suspension or termination of the 2022 Amended Plan shall materially and adversely affect Awards already granted. Any amendment
to the 2022 Amended Plan or any Award Agreement that results in the repricing of an Option or SAR issued under 2022 Amended Plan shall
not be effective without prior approval of the shareholders of the Company.

Expected Tax Consequences.

The following
is a summary of the principal U.S. federal income tax consequences to participants and the Company with respect to participation in the
2022 Amended Plan. This summary is not intended to be exhaustive and does not discuss the income tax laws of any local, state or foreign
jurisdiction in which a participant may reside. The information is based upon current U.S. federal income tax rules and therefore is subject
to change when those rules change. Because the tax consequences to any participant