Company: OXBRW
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001641172-25-022627
Chunk: 47

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 47
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 on December 31st of the immediately preceding fiscal year, and (ii) an amount determined by the Board. Notwithstanding the foregoing, no more than one million five hundred sixty-nine thousand five hundred fourteen (1,569,514) Shares may be issued pursuant to incentive stock options within the meaning of Code Section 422. The Shares reserved for issuance may be either authorized and unissued Shares or shares reacquired at any time and now or hereafter held in treasury. The aggregate number of Shares reserved under this Section 5(a) shall be depleted by the maximum number of Shares, if any, that may be issuable under an Award as determined at the time of grant. For purposes of determining the aggregate number of Shares reserved for issuance under this Plan, any fractional Share shall be rounded to the next highest full Share.

(b) Replenishment of Shares Under this Plan. If (i) an Award lapses, expires, terminates or is cancelled without the issuance of Shares under the Award (whether due currently or on a deferred basis), (ii) it is determined during or at the conclusion of the term of an Award that all or some portion of the Shares with respect to which the Award was granted will not be issuable, or that other compensation with respect to the Shares covered by the Award will not be payable, on the basis that the conditions for such issuance will not be satisfied, (iii) Shares are forfeited under an Award or (iv) Shares are issued under any Award and the Company subsequently reacquires them pursuant to rights reserved upon the issuance of the Shares, then such Shares shall be recredited to the Plan’s reserve and may again be used for new Awards under this Plan, but Shares recredited to the Plan’s reserve pursuant to clause (iv) may not be issued pursuant to incentive share options.

(c)Addition of Shares from Prior Plan. After the Effective Date, if any Shares subject to awards granted under the Prior Plans would again become available for new grants under Section 5(b)(i) of this Plan if such award had been granted under this Plan, then those Shares will be added to the Plan reserve described in Section 5(a) and will be available for the purpose of granting Awards under this Plan.

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6. Options.Subject to the terms of this Plan, the Administrator will determine all terms and conditions of each Option, including but not limited to: (a) whether the Option is an “incentive share option” which meets the requirements of Code Section