Document:

Underwriting Advisory Agreement

 Exhibit 10.6 

UNDERWRITING ADVISORY AGREEMENT 

This UNDERWRITING ADVISORY AGREEMENT (this “Agreement”) is made and effective January 19, 2014
(“Effective Date”), and is by and among Oxbridge Re Holdings Limited, a Cayman Islands exempted limited company (“Oxbridge”) and Resonant Consultants, Ltd., a British Virgin Islands limited company
(“Advisor”). Oxbridge and Advisor are referred to collectively as the “Parties” and each individually a “Party.” 

Recitals 
 WHEREAS,
Oxbridge, through its licensed reinsurance subsidiary, Oxbridge Reinsurance Limited (“Limited,” and together with Oxbridge and its other subsidiaries, the “Company”), writes fully collateralized reinsurance
contracts to cover property losses from specified catastrophes. 
 WHEREAS, Oxbridge desires to enter into this Agreement with
Advisor in order to have the right to engage Advisor from time to time to provide underwriting expertise and advice in connection with reinsurance contracts that are being considered by the Company and the Advisor is willing to provide such services
from time to time on the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises
and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

Article 1 
 Appointment
and Services 
 Section 1.01 Appointment and Acceptance of Advisor. Oxbridge, on behalf of itself and its subsidiaries, from time to time,
may appoint the Advisor to act as a non-exclusive advisor to the Company in connection with reinsurance contracts that are being considered by the Company and the Advisor shall, from time to time, accept such appointment. 

Section 1.02 Services to be Rendered by the Advisor. Subject to the terms and conditions of this Agreement, any Underwriting Guidelines adopted by
the Company from time to time, the oversight of the boards of directors of Oxbridge and its subsidiaries and the Applicable Requirements, the Advisor, when appointed from time to time, shall perform, or shall cause to be performed, general
underwriting advisory services with respect to reinsurance contracts that are being considered by the Company and that are identified in writing by the Company to Advisor. Advisor shall perform all services in a conscientious, reasonable and
competent manner and shall devote its best efforts to the performance of such services. The advisory services shall include, but not be limited to, the following: 
  

	 	(i)	advising the boards of directors of Oxbridge and its subsidiaries and the Company’s management regarding the classes of risks to be accepted and associated risk limits and premium rates, as well providing aggregate
exposure and exposure management advice; 

	 	(ii)	reviewing agreements and related documents for the risks being ceded to the Company; 

  

	 	(iii)	advising on premium rates and other underwriting terms and conditions with respect to the underwriting of the risks being ceded to the Company; 

 

	 	(iv)	recommending commissions and fees to be paid to producers or brokers; and 

  

	 	(v)	other general services reasonably requested by the Company in furtherance of such advisory role in connection with potential reinsurance contracts. 

Section 1.03 Limits of the Advisor’s Responsibilities. The Advisor shall not be responsible for, and shall have no duty to provide,
administrative services, legal counsel, investment management or advice (other than with respect to cash and collateral accounts), tax advice or independent auditing services under this Agreement. Except as provided herein, the Advisor shall not
have any other or further obligations or responsibilities to the Company, including any liability for the uncollectibility of any insurance or reinsurance premiums. 

Article 2 
 Covenants

 Section 2.01 Covenants of Oxbridge. During the term of this Agreement, Oxbridge, on behalf of itself and its subsidiaries, agrees that
Oxbridge and its subsidiaries shall: 
  

	 	(i)	observe and comply with any Applicable Requirements; 

  

	 	(ii)	notify the Advisor in a timely manner of any amendment to the Underwriting Guidelines; and 

  

	 	(iii)	compensate the Advisor as provided in this Agreement. 

 Section 2.02 Covenants of Advisor. During
the term of this Agreement, the Advisor, on behalf of itself and its subsidiaries, agrees that Advisor and its subsidiaries shall: 
  

	 	(i)	observe and comply with any Applicable Requirements; 

  

	 	(ii)	obtain and maintain any required registrations and/or licenses required by any Competent Regulatory Authority to perform the underwriting services contemplated by this Agreement; and 

 

	 	(iii)	perform all services under this Agreement in the country of its incorporation; and 

  

	 	(iv)	act in good faith and with reasonable skill and care in respect of the services rendered or to be rendered pursuant to this Agreement. 

Section 2.03 Regulatory Matters. Each Party agrees promptly to notify the other Party in writing upon receipt of any written or oral communication
from any Competent Regulatory Authority pertaining to the services rendered or to be rendered pursuant to this Agreement. The Parties agree to cooperate with each other and to use their commercially reasonable efforts in jointly resolving any issue
or matter raised by any Competent Regulatory Authority. 

  
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 Section 2.04 Cooperation. The Parties shall cooperate with each other as may be reasonably necessary
or appropriate to enable the Parties to carry out their respective responsibilities in full and to effectuate the purposes of this Agreement. Each Party shall do and perform or cause to be done and performed all further acts and shall execute and
deliver all other agreements, certificates, instruments and documents as the other Parties may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated by
this Agreement. 
 Article 3 

Representations and Warranties 

Section 3.01 Representations and Warranties. Each Party hereby represents and warrants to the other Party that (in respect of itself): 

 

	 	(i)	it is duly incorporated and validly existing under applicable laws, with full power and authority to conduct its business, and it has full power and authority to enter into, perform its duties under and exercise its
rights under this Agreement; 

  

	 	(ii)	assuming the due authorization, execution and delivery of the other Party, this Agreement constitutes its valid, lawful and binding obligations enforceable against itself in accordance with its terms (except insofar as
enforceability may be limited by any bankruptcy laws or principles, or any similar laws or principles); 

  

	 	(iii)	the execution and delivery of this Agreement and the performance of its obligations under this Agreement do not and shall not constitute a breach of or default under (i) its organizational documents, (ii) any
agreement or instrument by which it is bound or (iii) any Applicable Requirements; and 

  

	 	(iv)	no material consent, approval, waiver, license, permit, order or authorization of, or registration, declaration or filing with, any Competent Regulatory Authority is required to be obtained or made by it in connection
with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated by this Agreement. 

 The
representations and warranties in this Section 3.01 are made on a continuing basis, and shall remain in full force and effect throughout the duration of this Agreement. If any Party becomes aware that any of the representations and warranties
made by it in this Section 3.01 has ceased to be true, then it shall notify the other Party promptly. 

  
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 Article 4 

Fees 
 Section 4.01 Advisory
Fees. Oxbridge shall pay Advisor an underwriting advisory fee (“Advisory Fee”) on each contract for which Advisor has been specifically appointed in writing in advance by Oxbridge to provide advisory services to Oxbridge. The
Advisory Fee shall be an amount equal to five percent (5.0%) of the gross reinsurance premiums of Company under such contract after deducting any portion of the premium subject to potential rebate or refund to the retrocedant or cedant (the
“Earned Premiums”). The Advisory Fee is payable within thirty (30) days after the collection of the premium under the applicable contract. 

Section 4.02 Performance Fees. Oxbridge shall, in addition to an Advisory Fee, pay Advisor a performance fee (“Performance Fee”)
equal to ten percent (10%) of the gross profit of each contract on which an Advisory Fee has been earned. The Performance Fee shall be determined at the end of each contract. For this Section 4.02, “gross profit” shall be defined
as the Earned Premiums minus (i) the Advisory Fee, (ii) broker commissions, (iii) policy acquisition costs, (iv) incurred losses and (v) a capital charge. The capital charge will be equal to ten percent (10%) of the
average monthly collateral value securing the contract over the life of the contract. The Performance Fee is payable within thirty (30) days after the end of the applicable contract (unless Oxbridge reasonably anticipates that there will be
claims under the reinsurance contract, in which case the Performance Fee will be payable within thirty (30) days of the resolution and settlement of all anticipated claims). 

Section 4.03 Minimum Semi-Annual Retainer. Advisor shall be entitled to a minimum fee of U.S.$75,000 per each semi-annual period that this
Agreement is in effect (the “Minimum Fee”). For this purpose, “semi-annual period” means each of the successive 6-month periods beginning on January 1 and July 1 of each year while this Agreement remains in
effect. The Minimum Fee for each semi-annual period shall be payable in advance on the first business day in January or on the first business day in July of each semi-annual period; however, the Minimum Fee applicable to the semi-annual period from
the Effective Date through June 30, 2014 shall not be payable until thirty (30) days after the consummation of an initial public offering by Oxbridge, and the Minimum Fee for such initial semi-annual period will not be pro rated. The
Minimum Fee shall be deducted from, and shall be a credit toward, any Advisory Fees or Performance Fees payable under this Agreement. 

Section 4.04 Responsibility for Payment of Taxes. Oxbridge shall not withhold any income taxes with respect to any fees paid by Oxbridge to
Advisor hereunder and Advisor shall be solely responsible for the payment of all taxes due to any Competent Regulatory Authority with respect to such fees. 

Article 5 
 Term and
Termination 
 Section 5.01 Term. This Agreement shall commence on the Effective Date and shall continue until terminated in accordance with
Section 5.02. 
 Section 5.02 Termination. Either Party may terminate this Agreement (i) for convenience at any time upon 30 days prior
written notice to the other Party, provided that in the event that this Agreement is terminated prior to June 30, 2014 or prior to the end of any other semi-annual period, then the Oxbridge shall not be entitled to a refund of any portion of
the Minimum Fee previously paid or payable, or (ii) immediately and without prior written notice if the other Party is in material breach of this Agreement that (if curable) remains uncured for a period of ten (10) days after written
notice of the breach by the other Party. 

  
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 Article 6 

Indemnification 
 Section 6.01
Indemnification of the Advisor. Oxbridge, on behalf of itself and its subsidiaries, unconditionally agrees to indemnify, defend and hold harmless the Advisor and its Affiliates, directors, officers, employees, agents, successors and permitted
assigns (the “Advisor Indemnitees”) from and against, and pay or reimburse such parties for, any losses, claims, liabilities, damages, deficiencies, costs or expenses of any type which they may incur (i) on account of any
third-party claim or proceeding arising out of the performance of this Agreement or (ii) from any breach of this Agreement or failure to perform any covenant or obligation of Oxbridge or its subsidiaries contained in this Agreement (in each
instance unless caused by the Advisor’s breach of, or failure to perform, its covenants or obligations under this Agreement), in each case, unless (a) a court or arbitral panel with appropriate jurisdiction shall have determined by a final
judgment which is not subject to appeal such losses, claims, liabilities, damages, costs or expenses are as a result of fraud, dishonesty, gross negligence or wilful misconduct of any of the Advisor Indemnitees or (b) such Advisor Indemnitees
shall have settled such losses, claims, liabilities, damages, costs or expenses without the consent of Oxbridge (such consent not to be unreasonably withheld or delayed). 

Section 6.02 Indemnification of Company. The Advisor unconditionally agrees to indemnify, defend and hold harmless the Company and its Affiliates,
directors, officers, employees, agents, successors and permitted assigns (the “Company Indemnitees”), from and against, and pay or reimburse such parties for, any losses, claims, liabilities, damages, deficiencies, costs or expenses
of any type which they may incur from any breach of this Agreement or failure to perform any covenant or obligation of the Advisor contained in this Agreement, unless (i) a court or arbitral panel of appropriate jurisdiction shall have
determined by a final judgment that is not subject to appeal such losses, claims, liabilities, damages, costs or expenses are as a result of fraud, dishonesty, gross negligence or wilful misconduct of any of the Company Indemnitees or (ii) such
Company Indemnitees shall have settled such losses, claims, liabilities, damages, costs or expenses without the consent of the Advisor (such consent not to be unreasonably withheld or delayed). 

Section 6.03 Indemnification Procedure. Any person who is claiming indemnification from Oxbridge pursuant to the provisions of Section 6.01,
or from the Advisor pursuant to the provisions of Section 6.02 (the “Indemnified Person”), shall promptly deliver a written notification of each claim for indemnification, accompanied by a copy of all papers served, if any, and
specifying in detail the nature of, basis for and estimated amount of the claim for indemnification to Oxbridge or the Advisor, as applicable (the “Indemnifying Party”). If an Indemnified Person fails to promptly notify the
Indemnifying Party, then the obligation to indemnify shall be reduced by the amount of liability that is attributable to or becomes definite as a result of the delay in notification, if the delay in notification has resulted in a material increase
in liability or actual prejudice to the Indemnifying Party. The Indemnifying Party shall have the right to assume the defense of any matter for which a claim of indemnification is made against it with counsel it selects, at its own expense. The
Indemnifying Party in its sole discretion shall have the right to settle, compromise or defend until final adjudication any dispute or alleged liability for which a claim for indemnification has been made; provided, however, that the
Indemnifying Party shall not, except with the consent of each Indemnified Person, which consent 

  
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shall not be unreasonably withheld or delayed, consent to the entry of any judgment, or enter into any settlement, that does not include the giving by the claimant or plaintiff to the Indemnified
Person of a release from all liability with respect to the claim or litigation. Each Indemnified Person shall cooperate in providing information, formulating a defense or as otherwise reasonably requested by the Indemnifying Party. 

Section 6.04 Payment of Indemnified Amounts. Each Indemnified Person shall provide written, detailed statements to the Indemnifying Party on a
monthly basis, of any expenses, costs or other liabilities for which indemnification is claimed. The Indemnifying Party shall reimburse such amounts within twenty (20) days of receiving any such statement, or shall notify in writing the
Indemnified Person claiming indemnification if it denies liability, and provide the reasons for the denial. 
 Article 7 

Conflicts of Interest and Non-Exclusivity 

Section 7.01 Non-Exclusivity. The services provided by the Advisor under this Agreement are not exclusive and either Party may enter into similar
arrangements with third parties. None of the services to be provided under this Agreement nor any other matter shall give rise to any fiduciary or equitable duties (to the fullest extent permitted by Applicable Requirements) which would prevent or
hinder the Advisor, its Affiliates or their respective directors, officers, employees and agents (each an “Interested Party”) from providing additional services to or entering into transactions with or for the Company. 

Section 7.02 Conflicts of Interest. The Advisor shall take reasonable steps to ensure fair treatment for the Company and shall ensure that any
services and/or advice provided pursuant to this Agreement are provided in good faith as if the potential conflict had not existed. 

Article 8 
 Miscellaneous

 Section 8.01 Non-Disclosure of Confidential Information. The Parties recognize and acknowledge that Advisor has had access to, and will
have access to, certain Confidential Information about the businesses of the Company and its Affiliates which constitutes valuable, special, and unique property of the Company. Advisor shall not disclose, directly or indirectly, any of such
Confidential Information to any Person, firm, corporation, association, or other entity for any reason or purpose whatsoever unless the disclosure is reasonably necessary pursuant to Advisor’s performance of its duties and responsibilities
under this Agreement or the disclosure is specifically authorized in writing by an authorized officer of the Company. 
 Section 8.02 Amendment.
This Agreement may be amended, suspended, extended or modified by the Parties at any time only by an instrument in writing executed by each Party. 

Section 8.03 Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part,
by operation of law or otherwise, by any of the Parties hereto without the prior written consent of the other Parties hereto. No assignment by any Party shall relieve such Party of any of its obligations hereunder. Subject to the immediately
preceding two sentences, this Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties hereto and their respective successors and permitted assigns. Any purported assignment not permitted under this
Section 8.03 shall be null and void. All such assignments shall be subject to all necessary regulatory approvals. 

  
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 Section 8.04 Counterparts. This Agreement may be executed in one or more counterparts (including by
facsimile or e-mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party hereto and
delivered to the other Parties hereto. 
 Section 8.05 Entire Agreement; No Third-Party Beneficiaries. This Agreement constitutes the entire
agreement, and supersedes all other prior agreements and understandings, both written and oral, among the Parties and their Affiliates, or any of them, with respect to the subject matter hereof and thereof and is not intended to confer upon any
Person other than the Parties any rights or remedies. Each Party acknowledges and agrees that (i) it has not relied on or been induced to enter into this Agreement by any undertaking, promise, assurance, statement, representation, warranty,
undertaking or understanding which is not expressly included in this Agreement and (ii) it shall have no claim or remedy in respect of any undertaking, promise, assurance, statement, representation, warranty, undertaking or understanding which
is not expressly included in this Agreement. Nothing in the immediately preceding sentence shall operate to limit or exclude any liability for fraud. 

Section 8.06 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of Cayman Islands applicable to
contracts and made and performed entirely within the Cayman Islands without regard to choice of law principles thereunder. 
 Section 8.07 WAIVER OF
JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) IT UNDERSTANDS AND HAS
CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) IT MAKES SUCH WAIVER VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION. 

  
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 Section 8.08 Notices. All notices, requests and other communications to either Party hereunder shall
be in writing and shall be deemed given if delivered personally, facsimiled (which is confirmed) or sent by overnight courier (providing proof of delivery) to the other Party at the following addresses: 

 

							
		 	If to Oxbridge, to:	  	
		 	Address:	  	 Landmark Square, Suite 1A
 64 Earth Close

P.O. Box 469
 Grand Cayman, KY1-9006

Cayman Islands
 ATTN:
	  	
				
		 	Facsimile:	  	 	  	
			
		 	If to the Advisor, to:	  	
		 	Address:	  	 	  	
		 	Facsimile:	  	 	  	

 or such other address or facsimile number as such Party may hereafter specify by like notice to the other Party hereto. All
such notices, requests and other communications shall be deemed received on the date of actual receipt by the recipient thereof if received prior to 5:00 p.m. local time in the place of receipt and such day is a business day in the place of receipt.
Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt. 

Section 8.09 Severability. If any term, condition or other provision of this Agreement is determined by a court of competent jurisdiction to be
invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term, condition or
other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible to the fullest extent permitted
by applicable law in an acceptable manner to the end that the terms of this Agreement are fulfilled to the extent possible. 
 Section 8.10 No
Waiver/Cumulative Remedies. Any waiver of a breach of any of the terms of this Agreement or of any default under this Agreement shall not be deemed a waiver of any subsequent breach or default and shall in no way affect the other terms of this
Agreement. No failure on the part of a Party to exercise, and no delay on its part in exercising, any right or remedy under this Agreement shall operate as a waiver of that right or remedy, nor shall any single or partial exercise of any right or
remedy preclude any other or further exercise of that right or remedy or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law. 

Section 8.11 Relationship of Parties. The Advisor shall perform its duties hereunder as an independent contractor. Nothing in this Agreement shall
be construed to create the relationship of employer or employee, partnership or any type of joint venture relationship, between the Company, on the one hand, and the Advisor, on the other hand. Advisor shall not, and shall have no authority to,
enter into any agreement or commitment in the name of, or on behalf of, the Company. 

  
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 Section 8.12 Interpretation. This Agreement has been negotiated by the Parties and is to be
interpreted according to its fair meaning as if the Parties had prepared it together and not strictly for or against any Party. 
 Section 8.13
Headings. The headings in this Agreement are solely for convenience of reference and shall not affect its interpretation. Singular and plural nouns and pronouns shall mean the singular or plural and the masculine, feminine or neuter genders as
permitted by the context in which the words are used. 
 Section 8.14 Survival. The provisions of this Agreement which, by their express or
implicit terms, are intended to survive the termination or expiration of this Agreement, shall survive such termination or expiration and be enforceable. 

Section 8.15 Definitions. As used in this Agreement, the following terms have the meanings ascribed thereto below. 

“Advisor” has the meaning ascribed thereto in the introductory paragraph. 

“Advisor Indemnitees” has the meaning ascribed thereto in Section 7.01. 

“Advisory Fee” has the meaning ascribed thereto in Section 4.01. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is controlled by, or is under common control
with, such Person. For this purpose, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ownership of securities or partnership or other ownership interests, by contract or otherwise. 

“Agreement” has the meaning ascribed thereto in the introductory paragraph. 

“Applicable Requirements” means, with respect to any Person, all applicable laws, rules, regulations and requirements, including applicable
laws, rules, regulations, requirements and binding requests of any Competent Regulatory Authority, and all applicable orders and decrees. 

“Company” has the meaning ascribed thereto in the recitals. 

“Company Indemnitees” has the meaning ascribed thereto in Section 6.02. 

“Competent Regulatory Authority” means, with respect to any Person, any regulatory authority or analogous Person responsible for regulating,
or having jurisdiction over, that Person. 
 “Confidential Information” means information that: 

 

	 	(a)	has been disclosed to a Party, or that a Party has or may become aware of in connection with this Agreement, in both cases before or during the term of this Agreement; and 

  
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	 	(b)	is marked as or otherwise indicated as confidential, or derives value to a Party from being confidential, or would be regarded as confidential by a reasonable business person, except to the extent that such information
is in the public domain (otherwise than by a breach of the confidentiality provisions of this Agreement). 

 “Earned
Premiums” has the meaning ascribed thereto in Section 4.01. 
 “Effective Date” has the meaning ascribed thereto in the
introductory paragraph. 
 “Indemnified Person” has the meaning ascribed thereto in Section 6.03. 

“Indemnifying Party” has the meaning ascribed thereto in Section 6.03. 

“Interested Party” has the meaning ascribed thereto in Section 7.01. 

“Limited” has the meaning ascribed thereto in the recitals. 

“Oxbridge” has the meaning ascribed thereto in the introductory paragraph. 

“Performance Fee” has the meaning ascribed thereto in Section 4.01. 

“Person” means any individual, corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company,
trust, unincorporated organization or any other entity. 
 “Underwriting Guidelines” means the underwriting guidelines of Oxbridge and its
subsidiaries, as the same may be modified from time to time. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, this Agreement has been entered into by the duly authorized
representatives of the Parties to be effective as of the day and year first above written. 
  

			
	Oxbridge Re Holdings Limited, a Cayman Islands exempted limited company
		
	 By
	 	/s/ Jay Madhu
		 	Name: Jay Madhu
		 	Title: CEO

  

			
	Resonant Consultants, Ltd., a British Virgin Islands limited company
		
	 By
	 	/s/ Edgar Ward Blanch
		 	Name: Edgar Ward Blanch
		 	Title: Owner

  
 11Form of Escrow Agreement

 Exhibit 10.7 

ESCROW AGREEMENT 

This Escrow Agreement (this “Agreement”) is made and entered into as of the
             day of             , 2014, by and among Oxbridge Re Holdings Limited, a Cayman Islands exempted
company (the “Company”), SunTrust Bank, a Georgia banking corporation, and Capitol Securities Management, Inc., a Virginia corporation (“Capitol”), as representative of the several sales agents (individually and collectively, the
“Sales Agent”) set forth in Schedule I of the Sales Agency Agreement, dated             , 2014, by and between Oxbridge and Capitol, as such representative. 

RECITALS: 
 A. The Company
proposes to sell a minimum of              units and a maximum of              units, with each unit consisting of
one ordinary share, $0.0001 par value, and one warrant, of the Company (the “Units”). 
 B. The Company has retained the Sales
Agent, as agent for the Company on a best efforts, minimum-maximum basis, to sell the Units in a public offering (the “Offering”), and the Sales Agent has agreed to sell the Units in the Offering as the Company’s agent on a best
efforts, minimum-maximum basis. 
 C. The Escrow Agent is willing to hold the proceeds of the Offering in escrow pursuant to this Agreement.

 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained in this Agreement, it is
hereby agreed as follows: 
 1. Establishment of the Escrow Account. Contemporaneously herewith, the parties have established a
non-interest-bearing account with the Escrow Agent, which escrow account is entitled “             Escrow Account” (the “Escrow Account”). Payment for the Units
may be made (i) by check, bank draft or money order made payable to “SunTrust Bank” and delivered to the Sales Agent no less than four business days before the Closing Date (as defined below), the Sales Agent will transfer these funds
directly to the Escrow Agent (“Monies Delivered”), or (ii) by authorization of withdrawal from securities accounts maintained with the Sales Agent. If payment is made by authorization of withdrawal from securities accounts, the funds
authorized to be withdrawn from a securities account will continue to accrue interest, if any interest is to accrue on such amounts, at the contractual rates until closing or termination of the Offering (“Monies Authorized”). If a
purchaser authorizes the Sales Agent to withdraw the amount of the purchase price from a securities account, the Sales Agent will do so only as of the Closing Date. Any check received which is made payable to any party other than the Escrow Agent
shall be returned to the purchaser who submitted the check and not accepted. 

 2. Escrow Period. The escrow period (the “Escrow Period”) shall begin
with the commencement of the Offering and shall terminate upon the earlier to occur of the following dates: 
 (a) the date on which the
Escrow Agent confirms that it has received in the Escrow Account gross proceeds for the sale of              Units; [NOTE: Insert maximum amount] 

(b)             , 2014; or 

(c) the date on which the Sales Agent and the Company notify the Escrow Agent in writing that the Offering has been terminated. 

The Company is aware and understands that, during the Escrow Period, it is not entitled to any funds received into escrow and no amounts
deposited in the Escrow Account shall become the property of the Company or any other entity or be subject to the debts of the Company or any other entity. 

3. Deposits into the Escrow Account. The Sales Agent agrees that it shall deliver to the Escrow Agent for deposit in the Escrow
Account all Monies Delivered received from purchasers of the Units by noon of the next business day after receipt together with a written account of each sale, which account shall set forth, among other things, (a) the purchaser’s name and
address, (b) the number of Units purchased by the purchaser, (c) the amount paid therefor by the purchaser, (d) whether the consideration received from the purchaser was in the form of a check, draft or money order, and (e) the
purchaser’s social security or tax identification number. The Escrow Agent agrees to hold all monies so deposited in the Escrow Account (the “Escrow Amount”) for the benefit of the parties hereto until authorized to disburse such
monies under the terms of this Agreement. Monies Authorized will be provided as set forth above. 
 4. Disbursements from the Escrow
Account. In the event that the Escrow Agent does not receive deposits for the sale of              Units [NOTE: Insert minimum amount] prior to the termination of the
Escrow Period, or if the Sales Agent and the Company notify the Escrow Agent that the Offering has been terminated, the Escrow Agent shall promptly refund to each purchaser the amount received from the purchaser, without deduction, penalty, or
expense to the purchaser, and the Escrow Agent shall notify the Company and the Sales Agent of its distribution of the funds. The purchase money returned to each purchaser shall be free and clear of any and all claims of the Company or any of its
creditors. 
 In the event that the Escrow Agent does receive minimum deposits for the sale of
             Units [NOTE: Insert minimum amount] prior to the termination of the Escrow Period, on the Closing Date, the Escrow Agent shall disburse the Escrow Amount pursuant
to the provisions of Section 6; provided, however, that in no event will the Escrow Amount be released to the Company until such amount is received by the Escrow Agent in collected funds. For purposes of this Agreement, the term “collected
funds” shall mean all funds, including fed funds, received by the Escrow Agent which have cleared normal banking channels. 
 5.
Collection Procedure. 
 (a) The Escrow Agent is hereby authorized to deposit each check in the Escrow Account. 

  
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 (b) In the event that any check paid by a purchaser and deposited in the Escrow Account shall be
returned, the Escrow Agent shall notify the Sales Agent by telephone of such occurrence and advise it of the name of the purchaser, the amount of the check returned, and any other pertinent information. The Escrow Agent shall then transmit the
returned check directly to the purchaser and shall transmit the statement previously delivered by the Sales Agent relating to such purchase to the Sales Agent. 

(c) If the Company rejects any purchase of Units for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly issue
a refund check to the rejected purchaser. If the Sales Agent rejects any purchase for which the Escrow Agent has not yet collected funds but has submitted the purchaser’s check for collection, the Escrow Agent shall promptly issue a check in
the amount of the purchaser’s check to the rejected purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected purchaser’s check for collection, the Escrow Agent shall promptly remit the
purchaser’s check directly to the purchaser. 
 6. Delivery of Escrow Account. 

(a) On or prior to the Closing Date, the Sales Agent and the Company shall provide the Escrow Agent with a statement, executed by each party,
containing the following information: 
 (i) The total number of Units sold by the Sales Agent directly to purchasers and a list containing
the name of each purchaser, the number of Units purchased by each purchaser, and a specification of the manner in which the Units should be issued; and 

(ii) A calculation by the Sales Agent and the Company as to the manner in which the Escrow Account should be distributed to the Company and
the Sales Agent and, in the event of oversubscription or rejection of certain purchasers, the aggregate amount to be returned to individual purchasers and a listing of the exact amount to be returned to each such purchaser. 

The Escrow Agent shall hold the Escrow Amount and distribute it in accordance with the above-described statement on the Closing Date or such
later date that it receives the above-described statement. 
 (b) Upon termination of the Offering by the Company or the Sales Agent for any
reason, the Escrow Agent shall return to the purchasers who contributed to the Escrow Account the exact amount contributed by them. 
 7.
Investment of Escrow Account. The Escrow Agent shall deposit funds received from purchasers in the Escrow Account, which shall be a non-interest-bearing bank account at the Escrow Agent. All investment shall comply with applicable laws,
rules and regulations, including Rule 15c2-4 under the Securities Exchange Act of 1934. 

  
 3 

 8. Closing Date. As used herein, the term “Closing Date” means the date
of closing of the Offering as determined by the Company and the Sales Agent. 
 9. Compensation of Escrow Agent. The Company
shall pay the Escrow Agent a fee for its services hereunder in an amount equal to Two Thousand Five Hundred Dollars ($2,500), which amount shall be paid on the Closing Date. In the event the Offering is cancelled for any reason, the Company shall
pay the Escrow Agent its fee within ten (10) days after the Escrow Amount is refunded to purchasers. No such fee or any other monies whatsoever shall be paid out of or chargeable to the funds on deposit in the Escrow Account. 

10. Disbursement into Court. If, at any time, there shall exist any dispute between the Company, the Sales Agent and/or the
purchasers with respect to the holding or disposition of any portion of the Escrow Amount or any other obligations of the Escrow Agent hereunder, or if at any time the Escrow Agent is unable to determine, to the Escrow Agent’s sole
satisfaction, the proper disposition of any portion of the Escrow Amount or the Escrow Agent’s proper actions with respect to its obligations hereunder, or if the Company and the Sales Agent have not within thirty (30) days of the
furnishing by the Escrow Agent of a notice of resignation appointed a successor Escrow Agent to act hereunder, then the Escrow Agent may, in its sole discretion, take either or both of the following actions: 

(a) suspend the performance of any of its obligations under this Agreement until such dispute or uncertainty shall be resolved to the sole
satisfaction of the Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); provided, however, that the Escrow Agent shall continue to hold the Escrow Amount in accordance with Section 7 hereof; and/or

 (b) petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in Richmond,
Virginia, for instructions with respect to such dispute or uncertainty, and pay into court all funds held by it in the Escrow Account for holding and disposition in accordance with the instructions of such court. 

The Escrow Agent shall have no liability to the Company, the Sales Agent or any other person with respect to any such suspension of
performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account or any delay
in or with respect to any other action required or requested of the Escrow Agent. 
 11. Duties and Rights of the Escrow
Agent. The foregoing agreements and obligations of the Escrow Agent are subject to the following provisions: 
 (a) The Escrow
Agent’s duties hereunder are limited solely to the safekeeping and disposition of the Escrow Account in accordance with the terms of this Agreement. It is agreed that the duties of the Escrow Agent are only such as herein specifically provided,
being purely of a ministerial nature, and the Escrow Agent shall incur no liability whatsoever except for negligence, willful misconduct or bad faith. 

  
 4 

 (b) The Escrow Agent is authorized to rely on any document believed by the Escrow Agent to be
authentic in making any delivery of the Escrow Amount. It shall have no responsibility for the genuineness or the validity of any document or any other item deposited with it and it shall be fully protected in acting in accordance with this
Agreement or instructions received. 
 (c) The Company and the Sales Agent hereby waive any suit, claim, demand or cause of action of any
kind which they may have or may assert against the Escrow Agent arising out of or relating to the execution or performance by the Escrow Agent of this Agreement, unless such suit, claim, demand or cause of action is based upon the gross negligence,
willful misconduct, or bad faith of the Escrow Agent. 
 12. Notices. All notices given hereunder will be in writing and
delivered by registered or certified mail, return receipt requested, postage prepaid, hand-delivery, overnight courier, or confirmed facsimile or electronic mail transmission to the parties at the following addresses, or such other address as a
party may specify by proper notice: 
 To the Company: 

Oxbridge Re Holdings Limited 

Landmark Square, 1st Floor 

64 Earth Close 
 Grand Cayman,
KY1-9006 
 Cayman Islands 

Attention: Sanjay Madhu 

Facsimile: 
 Email:
jmadhu@oxbridgere.com 
 With a copy to: 

Foley & Lardner LLP 
 100
North Tampa Street, Suite 2700 
 Tampa, Florida 33602 

Attention: Curt P. Creely, Esq. 

Facsimile: (813) 221-4210 

Email: ccreely@foley.com 
 To the
Sales Agent: 
 Capitol Securities Management, Inc. 

100 Concourse Boulevard, Suite 101 

Glen Allen, Virginia 23059 

Attention: Mr. L. McCarthy Downs, III 

Facsimile: (804) 966-2468 

Email: mdowns@capitolsecurities.com 

  
 5 

 With a copy to: 

LeClairRyan, A Professional Corporation 

Riverfront Plaza, East Town 
 951
East Byrd Street, Eighth Floor 
 Richmond, Virginia 23219 

Attention: Christopher J. Lange, Esq. 

Facsimile: (804) 783-7689 

Email: christopher.lange@leclairryan.com 

To the Escrow Agent: 
 SunTrust
Bank 
 919 East Main Street, 7th Floor 

Richmond, Virginia 23219 

Attention: Matthew Ward 

Facsimile: (804) 782-7855 

Email: matthew.ward@suntrust.com 

Any notice delivered to the Escrow Agent by Capitol in accordance with this Section 12 shall be deemed to have been delivered by the
Sales Agent. The Sales Agent may also deliver a joint notice, all other notifications are ineffective. 
 13. Miscellaneous.

 (a) This Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective
successors and assigns. 
 (b) If any provision of this Agreement shall be held invalid by any court of competent jurisdiction, such holding
shall not invalidate any other provision hereof. 
 (c) This Agreement shall be governed by the applicable laws of the Commonwealth of
Virginia. 
 (d) This Agreement may not be modified except in writing signed by the parties hereto. 

(e) All demands, notices, approvals, consents, requests and other communications hereunder shall be given in the manner provided in this
Agreement. 
 (f) This Agreement may be executed in one or more counterparts, and if executed in more than one counterpart, the executed
counterparts shall together constitute a single instrument. 
 [Signature page follows] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their
respective names, all as of the date first above written. 
  

			
	CAPITOL SECURITIES MANAGEMENT, INC.
		
	By:	 	 
	Name:	 	L. McCarthy Downs, III
	Title:	 	Managing Director – Investment Banking

  

			
	OXBRIDGE RE HOLDINGS LIMITED
		
	By:	 	 
	Name:	 	Sanjay Madhu
	Title:	 	Chief Executive Officer

  

			
	SUNTRUST BANK
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 7 

 Certificate of Incumbency 

(List of Authorized Representatives) 

Client Name:     Oxbridge Re Holdings Limited 

As an Authorized Officer of the above referenced entity, I hereby certify that each person listed below is an authorized signor for such entity, and that the
title and signature appearing beside each name is true and correct. 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Contact Number

	 Sanjay Madhu
	  	Chief Executive Officer	  		  	(        )
		  		  	  
	  	  

 IN WITNESS WHEREOF, this certificate has been executed by a duly authorized officer on: 

                          
                                         
             . 

                          
              Date 

By:                         
                                

Name (print):
                                       

Its: Secretary 

 Certificate of Incumbency 

(List of Authorized Representatives) 

Client Name: Capitol Securities Management, Inc. 
 As an
Authorized Officer of the above referenced entity, I hereby certify that each person listed below is an authorized signor for such entity, and that the title and signature appearing beside each name is true and correct. 

 

							
	 Name
	  	 Title
	  	 Signature
	  	 Contact Number

	 L. McCarthy Downs, III
	  	Managing Director	  		  	(804) 337-6511
		  		  	  
	  	

 IN WITNESS WHEREOF, this certificate has been executed by a duly authorized officer on: 

                          
                                         
             . 

                          
              Date 

By:                         
                                    

Name (print):
                                         
  
 Its:

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