Company: OXBRW
Filing Date: 2025-07-28
Form Type: PRE 14A
Source: 0001641172-25-021161
Chunk: 23

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-07-28
Form: PRE 14A
Chunk 23
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 to such transaction own beneficially    
 less than a majority of the outstanding voting securities of the Company immediately following the merger or consolidation;              |

| ● | The                                                                                                                                      
 Company or any affiliate sells, assigns or otherwise transfers assets in a transaction or series of related transactions, if the         
 aggregate market value of the assets so transferred exceeds 50% of the Company’s consolidated book value, determined by the              
 Company in accordance with generally accepted accounting principles, measured at the time at which such transaction occurs or the        
 first of such series of related transactions occurs; provided, however, that such a transfer effected pursuant to a spin-off or split-up 
 where shareholders of the Company retain ownership of the transferred assets proportionate to their pro rata ownership interest in       
 the Company shall not be a change of control;                                                                                            |

| ● | The                                                                  
 Company dissolves and liquidates substantially all of its assets; or |

| ● | At                                                                                                                                   
 any time when the “continuing directors” cease to constitute a majority of the Board. For this purpose, a “continuing                
 director” means the individuals who, at the effective date of the Plan, constitute the Board and any new directors (other than       
 directors designated by a person who has entered into an agreement with the Company to effect a change of control transaction) whose 
 appointment to the Board or nomination for election by company shareholders was approved by a vote of at least two-thirds of the     
 then-serving continuing directors.                                                                                                   |

If an award is considered deferred compensation subject to the provisions of Code Section 409A, then the Administrator may include an amended definition of “change of control” in the award agreement issued with respect to such award as necessary to comply with, or as necessary to permit a deferral under, Code Section 409A.

The Plan does not provide for a “gross-up” for any excise taxes imposed on golden parachute payments under Code Section 4999. Rather, except to the extent the participant has in effect an employment or similar agreement with the Company or any affiliate or is subject to a policy that provides for a more favorable result to the participant, if any payments or benefits paid by the Company pursuant to the Plan would cause some or all of such payments or benefits in conjunction with any other payments or benefits in connection with a change of control to be subject to the tax imposed by Code Section 4999, then these payments will either be cut back to a level below the amount triggering the tax or be delivered in full, whichever will provide the greater after-tax