Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 44

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 44
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 |            |  65,000 |
| General Vested Common Share  |            | 130,000 |
| Lead Trustee – Cash          |            |  40,000 |
| Audit and Cyber Risk Chair – 
 Cash                         |            |  25,000 |
| Compensation Chair – Cash    |            |  20,000 |
| Nominating and ESG Chair –   
 Cash                         |            |  20,000 |

<div align='center'>The retainers are paid quarterly in arrears and the portion of the retainer paid in common shares will be based on the average closing price over the applicable quarter. Non-employee trustees also receive reimbursement of their out-of-pocket travel costs to attend meetings. Any initial equity award for a newly appointed or elected trustee will be decided by the Compensation Committee on a case-by-case basis. COMPENSATION COMMITTEE REPORT The Compensation Committee (the “Compensation Committee”) of the Board of Trustees of LXP Industrial Trust, a Maryland real estate investment trust (the “Trust”), has reviewed and discussed the Compensation Discussion and Analysis with management, and based on the review and discussions, the</div>

| 54 |

Compensation Committee recommended to the Board of Trustees that the Compensation Discussion and Analysis
be included in the Trust’s proxy statement for the 2025 Annual Meeting of Shareholders and Annual Report on Form 10-K for the year
ended December 31, 2024.

Submitted by the Compensation
Committee of the Board of Trustees

/s/ Arun Gupta, Chairperson
Lawrence L. Gray
Claire A. Koeneman
Jamie Handwerker

<div align='center'>AMENDMENT TO 2022 EQUITY-BASED AWARD PLAN</div>

Background

The LXP
Industrial Trust 2022 Equity-Based Award Plan, which we refer to as the 2022 Plan, was approved by shareholders on May 24, 2022. On April
3, 2025, the Compensation Committee amended the 2022 Plan pursuant to the 2022 Plan Amendment. The 2022 Plan Amendment is subject to approval
at the Annual Meeting. Below is a summary of the 2022 Plan Amendment and the principal provisions of the 2022 Plan, as amended, and its
operation. Copies of the 2022 Plan Amendment and the 2022 Plan as amended are set forth in full in Appendix B to this
Proxy Statement, and the following description of the