Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 52

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 52
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Performance Awards. The 2022 Amended Plan authorizes the Committee to grant performance-based awards, including arrangements under
which the grant, issuance, retention, vesting and/or transferability of any Performance Award are subject to quantitative and/or qualitative
measures, as determined by the Committee, used to measure the level of performance of the Company or any individual Participant during
a Performance Period. Performance Awards may be denominated or payable in cash, Shares (including, without limitation, Restricted Shares),
other securities, or other Awards.

Dividend Equivalent Rights (DERs). The Committee may grant DERs to any Eligible Person, and may do so either pursuant to an Agreement
that is independent of any other Award, or through a provision in another Award (other than an Option or SAR) that DERs attach to the
Shares underlying the Award.

Minimum Vesting for Awards. Awards granted pursuant to the 2022 Amended Plan that are subject to vesting shall become vested on
a pro rata basis over a period of not less than one year following the grant date of such Award; provided, however, such Awards that result
in the issuance of an aggregate of up to 5% of the maximum number of Shares available at any time pursuant to the 2022 Amended Plan may
be granted without respect to such minimum vesting provision.

Forfeiture. Unless
otherwise provided in an agreement granting an Award, we may terminate any outstanding, unexercised, unexpired, unpaid, or deferred Awards,
rescind any exercise, payment or delivery pursuant to the Award, or Recapture any common stock (whether restricted or unrestricted) or
proceeds from the Participant’s sale of Shares issued pursuant to the Award if granted, vested or settled during a period affected
by a Participant’s fraud or misconduct, or a financial restatement.

Income Tax Withholding. As a condition for the issuance of Shares pursuant to Awards, the 2022 Amended Plan requires satisfaction
of any applicable federal, state, local, or foreign Withholding Tax obligations that may arise in connection with the award or the issuance
of Shares. The 2022 Amended Plan provides for Withholding Tax to be satisfied through the withholding and cancelling by the Company of
the number of Shares that would otherwise be delivered to the Participant pursuant to the Award and that have aggregate fair market value
as of the date of withholding equal to the Withholding Tax, and, thereafter, to the extent necessary to satisfy the Withholding Tax