Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 92

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 92
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 prior to consummation of a transaction in which the Award is not being assumed or substituted, such Award shall terminate
upon such consummation; and/or

(iv) make
such other modifications, adjustments or amendments to outstanding Awards or this Plan as the Committee deems necessary or appropriate,
subject to the terms set forth above and Section 17.

Notwithstanding
the above and unless otherwise provided in an Award Agreement or in any employment-related agreement between the Company or any of its
Affiliates and the Participant, in the event a Participant is Involuntarily Terminated on or within twelve (12) months (or any other
period set forth in an Award Agreement) following a Change in Control, then any Award that is assumed or substituted pursuant to this
Section above shall accelerate and become fully vested (and become exercisable in full in the case of Options and SARs), and any repurchase
right applicable to any Shares underlying the Award shall lapse in full. The acceleration of vesting and lapse of repurchase rights provided
for in the previous sentence shall occur immediately prior to the effective date of the Participant’s Involuntary Termination.

13.Recoupment of Awards. Unless otherwise specifically provided in an Award Agreement, and to the extent permitted by Applicable Law, the Committee may in its sole and absolute discretion, without obtaining the approval or consent of the Company’s shareholders or of any Participant, require that any Participant reimburse the Company for all or any portion of any Awards granted under this Plan (“ Reimbursement”), or the Committee may require the termination of any outstanding, unexercised, unexpired Awards (“ Termination”), or rescission of any exercise, payment, or delivery pursuant to the Award (“ Rescission”), or the recapture of any Shares (“ Recapture”), if and to the extent:

(a) the
granting, vesting, or payment of such Award was predicated upon the achievement of certain financial results that were subsequently the
subject of a material financial restatement;

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(b) in
the Committee’s view, the Participant either benefited from a calculation that later proved to be materially inaccurate, or engaged
in fraud or misconduct that caused or partially caused the need for a material financial restatement by the Company or any Affiliate;
and lower granting, vesting, or payment of such Award would have occurred based upon the conduct described in clause (a) of this
Section.

In each
instance, the Committee shall, to the extent practicable and allowable under Applicable