Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 53

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 53
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Non-Transferability of Awards. Awards may not be sold, pledged, assigned, hypothecated, transferred or disposed of other than by will or the
laws of descent and distribution, except to the extent the Committee permits lifetime transfers in the form of a Non-ISO, SAR, Restricted
Shares, or Performance Shares to charitable institutions, certain family members or related trusts, or as otherwise approved by the Committee.

Certain Corporate Transactions. The Committee shall equitably adjust the number of Shares covered by each outstanding Award,
and the number of Shares that have been authorized for issuance under the 2022 Amended Plan but as to which no Awards have yet
been granted or that have been returned to the 2022 Amended Plan upon cancellation, forfeiture or expiration of an Award, the
maximum annual Share limit on Awards to any individual Participant, as well as the price per Share covered by each such outstanding
Award, to reflect any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock
dividend, combination, recapitalization or reclassification of the Shares, or any other increase or decrease in the number of
issued Shares effected without receipt of consideration by us.

In addition,
in the event of a Change in Control (as defined in the 2022 Amended Plan but subject to the terms of any Award agreements or any employment
or other similar agreement between us or any of our affiliates

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and a Participant then in effect), each outstanding Award shall be assumed
or a substantially equivalent award shall be substituted by the surviving or successor corporation or a parent or subsidiary of such surviving
or successor corporation. However, that to the extent outstanding Awards are neither being assumed nor replaced by the successor corporation,
the Committee may in its sole and absolute discretion and authority, without obtaining the approval or consent of our shareholders or
any Participant with respect to outstanding Awards, take one or more of the following actions: (a) accelerate the vesting of Awards for
any period 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 our repurchase rights with respect to Shares issued pursuant to an Award shall lapse; (b) arrange or otherwise
provide for payment of cash or other consideration to Participants in exchange for the satisfaction and cancellation of outstanding Awards;
or (c) terminate all or some Awards upon the consummation of the transaction, provided that the Committee shall provide for