Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 91

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 91
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 between the Company or any of its Affiliates and any Participant,
each Award will terminate immediately prior to the consummation of such dissolution or liquidation, subject to the ability of the Committee
to exercise any discretion authorized in the case of a Change in Control.

(c) Change in Control. In the event of a Change in Control but subject to the terms of any Award Agreements or employment-related agreements
between the Company or any of its Affiliates and any Participant, each outstanding Award shall be assumed, or a substantially equivalent
award shall be substituted, by the surviving or successor company or a parent or subsidiary of such successor company (in each case, the
“Successor Company”) upon consummation of the Change in Control. Notwithstanding the foregoing, instead of having
outstanding Awards be assumed or replaced with equivalent awards by the Successor Company, the Committee may in its sole and absolute
discretion and authority, without obtaining the approval or consent of the Company’s shareholders or any Participant with respect
to his or her outstanding Awards, take one or more of the following actions (with respect to any or all of the Awards, and with discretion
to differentiate between individual Participants and Awards for any reason):

(i) accelerate
the vesting of Awards so that Awards shall vest (and, to the extent applicable, become exercisable) as to the Shares that otherwise would
have been unvested and provide that repurchase rights of the Company with respect to Shares issued pursuant to an Award shall lapse as
to the Shares subject to such repurchase right;

(ii) arrange
or otherwise provide for the payment of cash or other consideration to Participants in exchange for the satisfaction and cancellation
of all or some outstanding Awards (based on the Fair Market Value, as of the date of the Change in Control, of the Award being cancelled,
based on any reasonable valuation method selected by the Committee, and with the Committee having full discretion to cancel either all
Awards or only select Awards (such as only those that have vested on or before the Change in Control), provided, that no payment of cash
or other consideration shall be made for Options that have an exercise price in excess of Fair Market Value;

(iii) terminate
all or some Awards upon the consummation of the Change in Control, provided that the Committee shall provide for vesting of such Awards
in full as of a date immediately prior to consummation of the Change in Control. To the extent that an Award is not exercised, settled,
or cancelled