Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 81

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 81
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.S. $100,000 limit, the most recently granted Options shall be reduced first. In the event that Code Section 422
is amended to alter the limitation set forth therein, the limitation of this paragraph shall be automatically adjusted accordingly.

(iv) Grants to 10% Holders. In the case of an ISO granted to an Employee who is a Ten Percent Holder on the Grant Date, the ISO’s
term shall not exceed five (5) years from the Grant Date, and the exercise price shall be at least 110% of the Fair Market
Value of the underlying Shares as of the Grant Date. In the event that Code Section 422 is amended to alter the limitations set
forth therein, the limitation of this paragraph shall be automatically adjusted accordingly.

(v) Substitution of Options. In the event that the Company or its Affiliate acquires (whether by purchase, merger, or otherwise) all or substantially
all of the outstanding capital stock or assets of another corporation, or in the event of any reorganization or other transaction qualifying
under Code Section 424, the Committee may, in accordance with the provisions of Code Section 424, substitute ISOs for ISOs
previously granted under the plan of the acquired company provided (A) the excess of the aggregate Fair Market Value of the Shares
subject to an ISO immediately after the substitution over the aggregate exercise price of such Shares is not more than the similar excess
immediately before such substitution, and (B) the new ISO does not give additional benefits to the Participant, including any
extension of the exercise period.

(vi) Notice of Disqualifying Dispositions. By executing an Award Agreement for ISOs, each Participant agrees to notify the Company in writing
immediately after the Participant sells, transfers or otherwise disposes of any Shares acquired through exercise of the ISO, if such
disposition occurs within the earlier of (A) two years of the Grant Date, or (B) one (1) year after the exercise
of the ISO being exercised. Each Participant further agrees to provide any information about a disposition of Shares as may be requested
by the Company from time to time.

(c) Method of Exercise. Each Option may be exercised, in whole or in part (provided, that the Company shall not be required to issue fractional
Shares) at any time and from time to time prior to its expiration, but only pursuant to the terms of the applicable Award Agreement and
subject to the times, circumstances, and conditions for exercise contained in the applicable Award