Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 17

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 17
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 (i) demonstrate personal integrity and moral character, (ii) be willing to
apply sound and independent business judgment for the long-term interests of shareholders, (iii) possess relevant business or professional
experience, technical expertise, or specialized skills, (iv) possess personality traits and backgrounds that fit with

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those of the other
trustees to produce a collegial and cooperative environment, (v) be responsive to our needs, and (vi) have the ability to commit sufficient
time to effectively carry out the duties of a trustee.

Our Board
of Trustees believes its effectiveness is enhanced by being comprised of individuals with diverse skills, experience and backgrounds that
are relevant to the role of our Board of Trustees and the needs of our business. The objective of our Board of Trustees is to foster a
diverse and inclusive culture which solicits multiple perspectives and views. Accordingly, the Nominating and ESG Committee regularly
reviews the changing needs of our business and the skills, experience and backgrounds of its members, with the intention that our Board
of Trustees will be periodically “renewed” as certain Trustees rotate off and new Trustees are recruited. Our Board of Trustees’
commitment to “renewal” will be tempered by the need to balance change with continuity, experience and a collaborative approach
with each other and our Chief Executive Officer.

After
completing this evaluation and review, the Nominating and ESG Committee makes a recommendation to our Board of Trustees as to
the persons who should be nominated by our Board of Trustees, and our Board of Trustees determines the nominees after considering
the recommendation and report of the Nominating and ESG Committee.

To
the extent there is a vacancy on our Board of Trustees, the Nominating and ESG Committee will either identify individuals qualified
to become trustees through relationships with our trustees or executive officers or by engaging a third party. Our Board of Trustees
currently consists of eight individuals. However, the size of our Board of Trustees may increase in the future by a limited number
to refresh the membership of our Board of Trustees.

In addition,
our bylaws provide that any shareholder that complies with the “advance notice” or “proxy access” provisions in
our bylaws may also nominate individuals for election to our Board of Trustees. See “Q&A—How do I nominate a trustee or
submit a proposal for the 2026 Annual Meeting of Shareholders?”

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