Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 76

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 76
---
262,136 |   |
| Consolidated debt                                                         |   $1,570,010 |   |
| less consolidated cash and cash equivalents                               |     (101,836 | ) |
| Non-consolidated debt, net                                                |       85,771 |   |
| Net debt                                                                  |   $1,553,945 |   |
| Net Debt/Adjusted EBITDA                                                  |          5.9 | x |

| 76 |

<div align='center'>Appendix
B

Amendment to Plan Document

April 3, 2025</div>

WHEREAS,
by resolution of the Compensation Committee (the “Committee”) of its Board of Trustees approved on April 1,
2022 (the “Committee Approval Date”), LXP Industrial Trust (the “Company”) established
the LXP Industrial Trust 2022 Equity-Based Award Plan (the “Plan”);

WHEREAS,
the Plan became effective on May 24, 2022, the date upon which it received approval by a vote of a majority of the votes cast at a duly
held meeting of the Company’s shareholders;

WHEREAS,the Committee adopted a clarifying amendment to the Plan on January 5, 2024 (the “2024 Amendment”);

WHEREAS,
the Committee now desires to increase the number of shares available for issuance under the Plan as amended by the 2024 Amendment pursuant
to this Amendment to Plan Document (this “Amendment”); and

WHEREAS,
Section 18 of the Plan requires that the increase in the number of shares available for issuance under the Plan be authorized by the shareholders
of the Company.

NOW, THEREFORE, the following amendments and modifications are hereby made a part of the Plan:

1.Subject to Section 12 of the Plan, from the date of approval of this Amendment by the shareholders of the Company as required by
Section 18 of the Plan, the number of Shares available for issuance under the Plan shall be increased by 5,000,000 Shares.

2.In all other respects, the Plan, as amended to date, is hereby ratified and confirmed and shall remain in full force and effect.

| 77 |

<div align='center'>2022 Plan (as amended) LXP INDUSTRIAL TRUST
2022 EQUITY-BASED AWARD PLAN Plan Document</div>

| 1. | Introduction. |

<div align='center'>(a) Purpose. By resolution of the Compensation Committee of its Board of Trustees approved on