Company: OXBRW
Filing Date: 2025-07-28
Form Type: PRE 14A
Source: 0001641172-25-021161
Chunk: 22

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-07-28
Form: PRE 14A
Chunk 22
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| ● | the                                                                                                                                     
 cancellation of any outstanding and unexercised awards upon or following the consummation of the change of control (without the consent 
 of an award holder or any person with an interest in an award),                                                                         |

| ● | in                                                                                                                                     
 the case of options or share appreciation rights, the cancellation of all outstanding options or share appreciation rights in exchange 
 for a cash payment equal to the excess of the change of control price (as defined in the Plan) over the exercise price of the shares   
 subject to the option or share appreciation right upon the change of control (or for no cash payment if such excess is zero), and/or   |

| ● | the                                                                                                                               
 cancellation of any awards in exchange for a cash payment based on the value of the award as of the date of the change of control 
 (or for no payment if the award has no value).                                                                                    |

The terms of any awards that are subject to Code Section 409A will govern the treatment of such awards upon a change of control to the extent required for such awards to remain compliant with Code Section 409A, as applicable.

“Change of control” under the Plan means the occurrence of any one of the following:

| ● | Any                                                                                                                              
 person (other than an employee benefit plan of the Company or of any subsidiary of the Company and fiduciaries and certain other 
 parties related to any of these plans) becomes the beneficial owner of securities of the Company representing 50% or more of the 
 combined voting power of the Company’s then outstanding securities;                                                              |

| 12 |

| ● | The                                                                                                                                      
 Company is merged or consolidated with any other corporation or other entity, other than a merger or consolidation which would result    
 in the voting securities of the Company outstanding immediately prior thereto continuing to represent more than 50% of the combined      
 voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation 
 or the Company engages in a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction)     
 in which no person acquires 50% or more of the combined voting power of the Company’s then outstanding securities. Notwithstanding       
 the foregoing, a merger or consolidation involving the Company shall not be considered a change of control if the Company is the         
 surviving corporation and shares are not converted into or exchanged for stock or securities of any other corporation, cash or any       
 other thing of value, unless persons who beneficially owned shares outstanding immediately prior