FIRST AMENDMENT TO TERM LOAN AGREEMENT

This FIRST AMENDMENT TO TERM LOAN AGREEMENT (this “Amendment”) dated as of June 22, 2012, but effective as of January 13, 2012, by and among LEXINGTON REALTY TRUST, a real estate investment trust formed under the laws of the State of Maryland (the “Trust”), LEPERCQ CORPORATE INCOME FUND L.P., a limited partnership formed under the laws of the State of Delaware (“LCIF”), and LEPERCQ CORPORATE INCOME FUND II L.P., a limited partnership formed under the laws of the State of Delaware (collectively with the Trust and LCIF, the “Borrowers” and each a “Borrower”), each of the Lenders party hereto, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Agent”).

WHEREAS, the Borrowers, the Lenders, the Agent and certain other parties have entered into that certain Term Loan Agreement dated as of January 13, 2012 (as in effect immediately prior to the date hereof, the “Term Loan Agreement”); and

WHEREAS, the Borrower, the Lenders and the Agent desire to amend certain provisions of the Term Loan Agreement on the terms and conditions contained herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:

Section 1. Specific Amendments to Term Loan Agreement. The parties hereto agree that the Term Loan Agreement is amended effective as of January 13, 2012, by deleteing the word “and” at the end of Section 9.2(e), replacing the “.” at the end of Section 9.2(f) with “; and” and adding the following new subsection (g) immediately following Section 9.2(f):

(g)    The Trust may redeem its Preferred Equity Interests.

Section 2. Conditions Precedent. The effectiveness of this Amendment is subject to receipt by the Agent of each of the following, each in form and substance satisfactory to the Agent:

(a)    A counterpart of this Amendment duly executed by the Borrowers and the Lenders;

(b)    A Guarantor Acknowledgement substantially in the form of Exhibit A attached hereto, executed by each Guarantor; and

(c)    Such other documents, instruments and agreements as the Agent may reasonably request.

Section 3. Representations. Each Borrower represents and warrants to the Agent and each Lender as follows:

(a)    Authorization. Each Borrower has the right and power, and has taken all necessary action to authorize it, to execute and deliver this Amendment and to perform its obligations hereunder and under the Term Loan Agreement, as amended by this Amendment, in accordance with their respective terms. This Amendment has been duly executed and delivered by the duly authorized officers of each Borrower and each of this Amendment and the Term Loan Agreement, as amended by this Amendment, is a legal, valid and binding obligation of each Borrower enforceable against each Borrower in accordance with its respective terms except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein and as may be limited by equitable principles generally.

(b)    Compliance with Laws, etc. The execution and delivery by each Borrower of this Amendment and the performance by each Borrower of this Amendment and the Term Loan Agreement, as amended by this Amendment, in accordance with their respective terms, do not and will not, by the passage of time, the giving of notice or otherwise: (i) require any Government Approvals or violate any Applicable Laws relating to any Borrower; (ii) conflict with, result in a breach of or constitute a default under the organizational documents of any Borrower or any indenture, agreement or other instrument to which any Borrower is a party or by which it or any of its properties may be bound; or (iii) result in or require the creation or imposition of any Lien upon or with respect to any property now owned or hereafter acquired by the Borrower.

(c)    No Default. No Default or Event of Default has occurred and is continuing as of the date hereof nor will exist immediately after giving effect to this Amendment.

Section 4. Reaffirmation of Representations by Borrowers. Each Borrower hereby repeats and reaffirms all representations and warranties made by such Borrowers to the Agent and the Lenders in the Term Loan Agreement and the other Loan Documents to which it is a party on and as of the date hereof with the same force and effect as if such representations and warranties were set forth in this Amendment in full.

Section 5. Certain References. Each reference to the Term Loan Agreement in any of the Loan Documents shall be deemed to be a reference to the Term Loan Agreement as amended by this Amendment.

Section 6. Expenses. The Borrower shall reimburse the Agent upon demand for all reasonable out-of-pocket costs and expenses (including attorneys' fees) actually incurred by the Agent in connection with the preparation, negotiation and execution of this Amendment and the other agreements and documents executed and delivered in connection herewith.

Section 7. Benefits. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.

Section 8. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE (INCLUDING, FOR SUCH PURPOSE, SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAWS OF THE STATE OF NEW YORK).

Section 9. Effect. Except as expressly herein amended, the terms and conditions of the Term Loan Agreement and the other Loan Documents remain in full force and effect. The amendment contained herein shall be deemed to be effective as of January 13, 2012.

Section 10. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and shall be binding upon all parties, their successors and assigns.

Section 11. Definitions. All capitalized terms not otherwise defined herein are used herein with the respective definitions given them in the Term Loan Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Term Loan Agreement to be executed as of the date first above written.

THIS GUARANTOR ACKNOWLEDGEMENT dated as of June ___, 2012 (this “Acknowledgement”) executed by each of the undersigned (the “Guarantors”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Agent”) and each “Lender” a party to the Term Loan Agreement referred to below (the “Lenders”).

WHEREAS, Lexington Realty Trust, a real estate investment trust formed under the laws of the State of Maryland (the “Trust”), Lepercq Corporate Income Fund L.P., a limited partnership formed under the laws of the State of Delaware (“LCIF”), and Lepercq Corporate Income Fund II L.P., a limited partnership formed under the laws of the State of Delaware (collectively with the Trust and LCIF, the “Borrowers” and each a “Borrower”), the Lenders, the Agent and certain other parties have entered into that certain Term Loan Agreement dated as of January 13, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Term Loan Agreement”);

WHEREAS, each of the Guarantors is a party to that certain Guaranty dated as of January 13, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”) pursuant to which they guarantied, among other things, the Borrowers' obligations under the Term Loan Agreement on the terms and conditions contained in the Guaranty;

WHEREAS, the Borrower, the Agent and the Lenders are to enter into a First Amendment to Term Loan Agreement dated as of the date hereof (the “Amendment”), to amend the terms of the Term Loan Agreement on the terms and conditions contained therein; and

WHEREAS, it is a condition precedent to the effectiveness of the Amendment that the Guarantors execute and deliver this Acknowledgement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto agree as follows:

Section 1. Reaffirmation. Each Guarantor hereby reaffirms its continuing obligations to the Agent and the Lenders under the Guaranty and agrees that the transactions contemplated by the Amendment shall not in any way affect the validity and enforceability of the Guaranty, or reduce, impair or discharge the obligations of such Guarantor thereunder.

Section 2. Governing Law. THIS ACKNOWLEDGMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE (INCLUDING, FOR SUCH PURPOSE, SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAWS OF THE STATE OF NEW YORK)..

Section 3. Counterparts. This Acknowledgement may be executed in any number of counterparts, each of which shall be deemed to be an original and shall be binding upon all parties, their successors and assigns.

IN WITNESS WHEREOF, each Guarantor has duly executed and delivered this Guarantor Acknowledgement as of the date and year first written above.

GUARANTORS:

LEXINGTON ACQUIPORT COMPANY, LLC

LEXINGTON DUNCAN MANAGER LLC

LEXINGTON MLP WESTERVILLE MANAGER LLC

LEXINGTON LAC LENEXA GP LLC

LEXINGTON LAKEWOOD MANAGER LLC

LEXINGTON MILLINGTON MANAGER LLC

LEXINGTON COLUMBUS GP LLC

LEX CHILLICOTHE GP LLC

LEX WESTERVILLE GP LLC

LEX ROCK HILL GP LLC

LEXINGTON ALLEN MANAGER LLC

Each By: Lexington Realty Trust, its sole member

ACQUIPORT 550 MANAGER LLC

ACQUIPORT 600 MANAGER LLC

ACQUIPORT WINCHESTER MANAGER LLC

Each By: Lexington Acquiport Company, LLC, its sole member

By: Lexington Realty Trust, its sole member

LEX LP-1 TRUST

LEX GP-1 TRUST

PHOENIX HOTEL ASSOCIATES LIMITED PARTNERSHIP

By:     Lepercq Corporate Income Fund II L.P.,

its sole general partner

By: Lex GP-1 Trust, its sole general partner

LEXINGTON BRISTOL GP LLC

LEXINGTON DULLES MANAGER LLC

Each By: Phoenix Hotel Associates Limited Partnership,

its sole member

By:     Lepercq Corporate Income Fund II L.P.,

its sole general partner

By: Lex GP-1 Trust, its sole general partner

LEXINGTON SHELBY GP LLC

LEXINGTON TAMPA GP LLC

Each By: Lepercq Corporate Income Fund II L.P.,

its sole member

By: Lex GP-1 Trust, its sole general partner

LEXINGTON FLORENCE MANAGER LLC

LEXINGTON FORT STREET TRUSTEE LLC

LEXINGTON HONOLULU MANAGER LLC

LEXINGTON SOUTHFIELD LLC

LEXINGTON TOY TRUSTEE LLC

LEXINGTON OLIVE BRANCH MANAGER LLC

LEXINGTON LAKE FOREST MANAGER LLC

LEXINGTON WALLINGFORD MANAGER LLC

LEXINGTON HIGH POINT MANAGER LLC

LEXINGTON COLLIERVILLE MANAGER LLC

LEXINGTON LOUISVILLE MANAGER LLC

LEXINGTON TNI WESTLAKE MANAGER LLC

Each By: Lepercq Corporate Income Fund L.P., its sole member

By: Lex GP-1 Trust, its sole general partner

LEX GP HOLDING LLC

By: MLP Manager Corp., its sole manager

ACQUIPORT SIERRA MANAGER CORP.

By:______________________

Name:     Joseph S. Bonventre

Title:     Vice President

LEXINGTON ACQUIPORT SIERRA LLC

By: Acquiport Sierra Manager Corp., its sole manager

By:______________________

    Name:     Joseph S. Bonventre

    Title:     Vice President

NEWKIRK ALTENN GP LLC

NEWKIRK AVREM GP LLC

NEWKIRK BASOT GP LLC

NEWKIRK CAROLION GP LLC

NEWKIRK CLIFMAR GP LLC

NEWKIRK DALHILL GP LLC

NEWKIRK ELWAY GP LLC

NEWKIRK GERSANT GP LLC

NEWKIRK JACWAY GP LLC

NEWKIRK JLE WAY GP LLC

NEWKIRK JOHAB GP LLC

NEWKIRK LANMAR GP LLC

NEWKIRK LIROC GP LLC

NEWKIRK ORPER GP LLC

NEWKIRK SALISTOWN GP LLC

NEWKIRK SUNWAY GP LLC

NEWKIRK SUPERWEST GP LLC

NEWKIRK WALANDO GP LLC

NEWKIRK WASHTEX GP LLC

Each By: MLP Manager Corp., its sole manager

LEX-PROPERTY HOLDINGS LLC

NK-ODW/COLUMBUS PROPERTY MANAGER LLC

NK-LUMBERTON PROPERTY MANAGER LLC

NK-CINN HAMILTON PROPERTY MANAGER LLC

Each By: Lex-Property Holdings LLC, its sole member

LSAC GENERAL PARTNER LLC

LSAC OPERATING PARTNERSHIP L.P.

By: LSAC General Partner LLC, its sole general partner

LSAC CROSSVILLE MANAGER LLC

By: LSAC Operating Partnership L.P., its sole member

By: LSAC General Partner LLC, its sole general partner

LXP I TRUST

LXP I, L.P.

By: LXP I Trust, its sole general partner

LEXINGTON REALTY ADVISORS, INC.

LEXINGTON WAXAHACHIE MANAGER LLC

By: Lexington Realty Advisors, Inc., its sole member

LEXINGTON DURHAM INC.

NEWKIRK MLP UNIT LLC

MLP UNIT PLEDGE GP LLC

By: Newkirk MLP Unit LLC, its sole member

MLP UNIT PLEDGE L.P.

By: MLP Unit Pledge GP LLC, its sole general partner

By: Newkirk MLP Unit LLC, its sole member

LEXINGTON/LION VENTURE L.P.

By: LXP GP LLC, general partner

LEXINGTON LION CARY GP LLC

By: Lexington/Lion Venture L.P., member

By: LXP GP LLC, general partner

LXP GP LLC