Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 96

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 96
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, or implied (but
omitted) terms in any fashion it deems to be appropriate in its sole discretion, and to make any findings of fact needed in the administration
of the Plan or Award Agreements. The Committee’s prior exercise of its discretionary authority shall not obligate it to exercise
its authority in a like fashion thereafter. The Committee’s interpretation and construction of any provision of the Plan or of any
Award or Award Agreement, and all determinations that the Committee makes pursuant to the Plan, shall be final, binding, and conclusive.
The validity of any such interpretation, construction, decision or finding of fact shall not be given de novo review if challenged in
court, by arbitration, or in any other forum, and shall be upheld unless clearly made in bad faith or materially affected by fraud.

(f) No Liability; Indemnification. Neither the Board nor any Trustee or Committee member, nor any Person acting at the direction of the Board
or the Committee, shall be liable for any act, omission, interpretation, construction, or determination made in good faith with respect
to the Plan, any Award, or any Award Agreement. The

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Company and its Affiliates shall pay or reimburse
any Committee member, Trustee, Employee, or Consultant who in good faith takes action on behalf of the Plan for all expenses incurred
with respect to the Plan, and to the full extent allowable under Applicable Law shall indemnify each and every one of them for any claims,
liabilities, and costs (including reasonable attorney’s fees) arising out of their good faith performance of duties on behalf of
the Plan. The Company and its Affiliates may, but shall not be required to, obtain liability insurance for this purpose.

(g) Claims Limitations Period. Any Participant who believes he or she is being denied any benefit or right under this Plan or under any Award
may file a written claim with the Committee. Any claim must be delivered to the Committee within sixty (60) days of the specific
event giving rise to the claim. Untimely claims will not be processed and shall be deemed denied. The Committee will notify the Participant
of its decision in writing as soon as administratively practicable. Claims not responded to by the Committee in writing within 120 days
of the date the written claim is delivered to the Committee shall be deemed denied. The Committee’s decision, including any deemed
denial, is final, binding and conclusive on all persons. No lawsuit relating to this