Document:

Offer of Employment from Oxbridge

 Exhibit 10.4 
  

 
 August 1, 2013 

Mr. Wrendon Timothy 
 P.O. Box 258 

Georgetown, KY1-1104 
 Cayman Islands 

Dear Wrendon, 
 REF: EMPLOYMENT WITH OXBRIDGE RE. 

Further to our recent discussions we herby confirm our offer of employment with Oxbridge Re Holdings Limited. 

It is necessary for us to obtain a work permit for you to employ you in the Cayman Islands and any offer of employment is subject to our successfully
obtaining such permit. Further any offer of employment is subject to favorable professional references and confirmation that you have no criminal convictions, that you are not the subject of any investigation which may lead to a criminal conviction
and further that you have not been reprimanded or otherwise disciplined nor are currently under investigation by any regulatory or professional body. Any failure to disclose such matters amounts to grounds for instant dismissal. It is further
understood that any information you have provided to us in connection with your proposed employment is both complete and accurate. Any omission and/or inaccuracies in such disclosure may give rise to grounds for instant dismissal 

Subject to the above, the terms on which this offer of employment is made are set out below. 

Commencement Date 
 The employment of the Employee with
the Employer will commence on August 1, 2013 (“the employment”) and run to July 31, 2015. The contract will be renewable by mutual consent. 

The employment will initially be subject to a probationary period of 3-months with the possibility of extension for a further period of 3 months. During this
period either party is entitled to give 24 hours notice. 
 Job Title 

Your job title will be Financial Controller. 
 Hours of Work

 The Employee’s standard work week will be 37 1⁄2 hours

 The Employee may be required to work such hours in excess of the standard work-week as are necessary in order to fulfill his duties and/or as may be
required by the Employer from time to time. 

  
 

 
 Remuneration and benefits 

The Employee will be paid a basic gross salary of USD$80,400 per annum, payable monthly. Salary levels are reviewed annually and any revisions are at the
discretion of the Employer. With each salary payment made, the Employer will provide the Employee with a pay statement in accordance with section 33 of the Labour Law (2011 Revision). 

As an employee of professional level no overtime will be paid to the Employee for any hours worked in excess of the Employee’s standard workweek nor for
any hours worked by the Employee on a public holiday. However, the Employee will be entitled to time off in lieu, if the Employee was requested by his line manager to work on a public holiday. 

Health Insurance and Pension 
 We will effect a premier
health insurance contract for you as required by law. The cost of providing medical, dental and vision insurance is borne fully by the Employer. Currently, we estimate monthly premium to be paid by the Employer on your behalf to be approximately
USD$520 per month. 
 We will comply with our obligations under the Pensions Law and enroll you in a pension plan subject to your being an eligible
employee. Your contributions will be deducted from your salary and will be at a rate of 5% of earnings up to a maximum of approximately USD$300 per month; as the Employer, we are required to match your contributions. Eligible employees are permanent
residents, persons with Caymanian status and persons who have been in employment in the Cayman Islands for a period of at least nine months. When you finally leave the Cayman Islands, subject to certain provisions of the relevant legislation, you
will be entitled to have your interest in the pension plan paid to you after a period of two years. 
 Bonus 

The Employee will also be eligible to receive a discretionary bonus, which is currently payable on an annual basis. This bonus may vary in size and in fact may
not be paid at all in any given year as it depends on the business results as well as on the Employee’s personal performance. 
 Vacation Leave

 You will be entitled to paid vacation leave in accordance with the Labour Law. Your vacation entitlement will be 20 days per calendar year which will
be pro-rated for the first year of your employment. Vacation days will accrue at the rate of (1.67) days per month. There are some limitation on the times when vacation may be taken so as to avoid missing financial reporting deadlines. Thus,
any vacation leave must be requested sufficiently in advance and must be approved prior to it being taken. 

  
 

 
 Termination 
 In the
event of your serious or persistent misconduct or breach of your employment contract, or for cause, we may terminate your employment without notice or payment in lieu of notice. 

Save in respect of serious or persistent breach as stated above, if we wish to terminate your employment we will provide you with 60 days prior written notice
or, if we choose, pay in lieu of notice. If you wish to terminate your employment, you are required to provide us with 60 days prior written notice. 

Please note that, without limitation, the following actions shall be considered to be serious misconduct and will lead to your instant dismissal: breach of
confidentiality; repeated absences without adequate explanation; conducting yourself outside working hours in a manner which is damaging or detrimental to the reputation of Oxbridge Re Holdings Limited; attending work while intoxicated. 

Sickness 
 In respect of absence due to sickness, if
requested, you must provide us with a medical certificate stating the reason for absence and provide a new certificate each week to cover any subsequent period of absence. We reserve the right to ask you at any stage of absence to produce a medical
certificate in accordance with the Labour Law. 
 You will receive payment in respect of days when you are absent from work due to sickness or injury in
accordance with the Labour Law, which entitles you to 10 paid sick days. 
 Public Holidays 

You will be entitled to receive payment for public holidays in accordance with the Labour Law. 

Computer 
 You will be provided with, amongst other
things, a notebook computer in order for you to carry out your work for the Employer. This computer and any software remain the property of the Employer. You will be responsible for the safekeeping of this computer as well as the confidential
information stored in it, and you will be required to adhere to any of the Employer’s policies regarding computer and their use. The Employer may, at its sole discretion, charge you for your loss or damage which the Employer believes is caused
by you or by your lack of care. 
 Confidentiality 
 You
must not at any time during your employment (except so far as is necessary and proper in the course of your employment) or at any time after your employment has terminated, disclose to any person any information concerning our practice, business
dealings or affairs or any of our clients or concerning any other matters which may come to your knowledge by reason of your employment. Breach of this provision will be considered serious breach and may result in your immediate dismissal. 

These restrictions shall continue to apply after the termination (however it arises) of your employment hereunder without limit in point of time but shall
cease to apply to information which comes into the public domain. 

  
 

 
 Governing Law 
 This
employment contract shall be governed by and be construed in accordance with the laws of the Cayman Islands and shall be subject to the exclusive jurisdiction of the courts of the Cayman Islands. 

Please indicate your acceptance of the terms of your employment with the Employer by signing, dating and returning to us the attached copy of this letter.

  

	
	Yours Sincerely,
	
	/s/ Sanjay Madhu
	
	Sanjay Madhu – Chief Executive Officer

 FOR AND ON BEHALF OF 

Oxbridge Re Holdings Limited 
  

	
	/s/ Wrendon Timothy
	Name: Wrendon Timothy
	
	Date: August 1, 2013License Agreement

 Exhibit 10.5 

LICENCE AGREEMENT 
 THIS LICENSE
AGREEMENT is made this 23rd day of May 2013 
  

			
	 BETWEEN
	 	IPH LIMITED
		 	PO Box 715
		 	Grand Cayman
		 	Cayman Islands KY1-1107
		 	(hereinafter “the Licensor”)
		
	 AND
	 	OXBRIDGE RE HOLDINGS LIMITED
		 	C/o Maples Corporate Services Limited
		 	P.O. Box 309
		 	Ugland House
		 	Grand Cayman
		 	Cayman Islands KY1-1104
		 	(hereinafter “the Licensee”).

 WHEREAS: 
  

	 	1	The Licensor is the owner of certain premises (“the Premises”). 

  

	 	2	The Licensee wishes to use and occupy a certain portion of the Premises, as licensee, being the area of the Premises shown edged in red on the plan attached hereto as Schedule “B” (“Licence Area”).

  

	 	3	The Licensor is willing to permit the Licensee to use the License Area upon the terms and conditions herein contained. 

NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the Parties agree as follows: 

 

	I	INTERPRETATION 

 In this Agreement, the following terms shall have the following
meanings: 
 The Commencement Date means the date set forth at Item 1 of Schedule “A”; 

The Term means the term set out at Item 4 of Schedule “A” and any renewal or extension thereof. 

Singular shall include the plural and plural the singular. 

 Licensor and Licensee shall include the personal representatives, permitted successors and
permitted assigns of the parties. 
  

	II.	THE LICENSOR HEREBY COVENANTS AND AGREES AS FOLLOWS:- 

  

	1	Subject to the monthly payment by the Licensee to the Licensor of the amounts set out at Item 5 of Schedule “A” to be paid in advance on the first day of each month, the Licensor grants to the Licensee a
license for itself, its servants and/or agents to use the License Area for the purposes of a business office only and to enter, occupy and use the License Area for the Term. The Licensor shall provide the Licensee its own access to the License Area
including all such keys, codes, passwords and the like so as to permit the Licensee to enter upon the License Area at all times without let or hindrance. 

  

	III	THE LICENSEE HEREBY COVENANTS AND AGREES THAT IT SHALL:- 

  

	1	Not commit or permit to be committed on the premises any act or omission which shall violate any term or condition of the Strata By-Laws. 

 

	2	Keep the License Area tidy and in as good a state of repair and condition as at the Commencement Date, fair wear and tear and damage from casualty and fire excepted. 

 

	3	Use the License Area for no purpose other than for a business office. 

  

	4	Observe and conform to all the reasonable rules and regulations from time to time made by the Licensor with regard to the License Area and procure its employees and agents do likewise. 

 

	5	Not to store or bring upon the License Area any illegal articles or any articles of a combustible inflammable or dangerous nature and not to do permit or suffer to be done on the License Area anything by reason whereof
the present or any future policies of insurance in respect of the License Area may be rendered void or voidable or whereby the rate of premium thereon may be increased. 

 

	6	On or before the termination of this Agreement to remove all chattels and other property situated on the License Area belonging to the Licensee and to make good any damage caused to the License Area, fair wear and tear
and damage from casualty and fire excepted, failing which same shall be disposed of by the Licensor at the cost of the Licensee and without liability or accountability to the Licensee. 

 

					
	 7
	  	(i)	  	 Notwithstanding the provisions of Article III Clauses 2 and 6 excepting damage from casualty and fire from the Licensee’s
responsibility, jointly and severally to indemnify and save harmless the Licensor from and against all suits, actions, claims, proceeding or demands whatsoever (including costs and attorney’s costs on a full indemnity basis) for any loss or
injury which any person may suffer or sustain as the direct or indirect result of any breach or non-observance of the Licensee’s covenants herein contained or of the Licensee’s negligent acts or omissions in or about the License Area or as
a result of any damage caused by or as a result of any fixture or installation of the Licensee therein or thereon and or all costs charges and expenses of and incidental to any such suits, actions, claims or demands

	 	(ii)	Notwithstanding the provisions of Article III Clauses 2. and 6 excepting damage from casualty and fire from the Licensee’s responsibility, jointly and severally to pay and make good to the Licensor every loss and
damage whatsoever incurred or sustained by the Licensor as a consequence of every breach or non-observance of the Licensee’s covenants herein contained or caused by any act default or negligence of the Licensee or the servants, agents,
licensees or invitees of the Licensee and to indemnify the Licensor from and against all actions, claims, liability, costs and expenses thereby-arising. 

  

	8.	Licensor agrees to pay and make good to the Licensee every loss and damage whatsoever incurred or sustained by the Licensee as a consequence of every breach or non-observance of the
Licensor’s covenants herein contained or caused by any negligence of the Licensor or the Servants, agents, licensees or invitees of the Licensor and to indemnify the Licensee from and against all actions, claims, liability, costs and expenses
thereby arising (including, without limitation, reasonable attorneys’ fees and charges through all appeals). 

  

	IV	DAMAGE TO LICENSE AREA 

  

	1	If at any time during the term hereby created the License Area shall be destroyed License charges shall abate during any period following a casualty that Licensee is not permitted to use the License Area for the conduct
of its business. 

  

	V	IT IS HEREBY MUTUALLY AGREED THAT:- 

  

	1	License not Lease 

 This Agreement does not give the Licensee any estate, right or
interest in the License Area except as is necessary for the exercise of the right expressly conferred on the Licensee by this Agreement. 
  

	2	Miscellaneous 

  

	 	a)	Termination 

 Without prejudice to any other remedies then available to it, either Party
shall be entitled to terminate this License - 
  

	 	i)	In the event that there is a material breach of any of the terms of this agreement by the other party and notice in writing of such breach is served upon the party in default and such breach continues for thirty
(30) days after service of such notice (provided, however, that if such default is not susceptible of cure during such period, such party shall not be in default hereunder so long as it commences and diligently prosecutes to completion any such
cure); 

	 	ii)	In the event the other party shall commit an act of bankruptcy or being a company shall enter voluntary liquidation or suffer presentation of a petition against it for compulsory winding up or shall make any composition
with its creditors or shall suffer execution against its goods and chattels; 

  

	 	iii)	Provided that in the event of a catastrophic occurrence, such as a hurricane, earthquake or the like, reasonable time shall be allowed to remedy any material breaches. 

 

	 	iv)	Upon either party giving one months’ written notice to the other, such termination being effective at the end of such notice period. 

 

	 	b)	Notices 

  

	 	i)	Any notice, document or other instrument required or permitted to be given or delivered by either party to the other party under any provisions of this Agreement shall be in writing and may be given or delivered by a
reputable courier addressed to the party to whom the notice is to be given or delivery is to be made at its address set out herein and notice shall be deemed to have been given or delivered five (5) days after the date on which it is delivered
by courier, otherwise such notice shall not be deemed to have been given or document delivered until it is actually received by the party to whom the notice is given or delivery is made. 

 

	 	ii)	Any party may change its address for the purposes of this clause by giving notice of such change to the other party, which change, however, shall not become effective until it is actually received by the other party.

  

	 	c)	Continuing Obligations 

 All obligations of the parties hereto, which expressly or by
their nature survive the expiration or termination of this Agreement, shall continue in full force and effect subsequent to and notwithstanding its expiration or termination and until they are satisfied in full or by their nature expire. 

 

	 	d)	Assignment 

 The Licence may not be assigned by the Licensee. 

 

	 	e)	Entire Agreement 

 This document contains the entire agreement between the Parties hereto
with respect to the transactions contemplated herein. No modification, alteration, or amendment of the Agreement nor any waiver of any provision hereof shall be valid or effective unless in writing and signed by all Parties hereto. 

	 	f)	Warranty 

 Each of the Parties warrants its power to enter into this Agreement and has
obtained all the necessary approvals to do so. 
  

	 	g)	Severance 

 If any provision of this Agreement is declared by any judicial or other
competent authority to be void, voidable, illegal or otherwise unenforceable or indications to that effect are received by either of the Parties from any competent authority, the Parties shall amend that provision in such reasonable manner as
achieves the intention of the Parties without illegality. 
  

	 	h)	Supersedes Prior Agreements 

 This Agreement supersedes any prior Agreement between the
Parties whether written or oral and any such prior Agreements are cancelled as at the date hereof but without prejudice to any rights which have already accrued to either of the Parties. 

 

	 	i)	Headings 

 Headings contained in this Agreement are for reference purposes only and
should not be incorporated into this Agreement and shall not be deemed to be any indication of the meaning of the clauses to which they relate. 
  

	 	j)	Proper Law and Jurisdiction 

 i) This Agreement shall be governed by and construed
pursuant to the laws of the Cayman Islands. 
 ii) Any proceedings arising out of or in connection with this Agreement shall be brought in
any court of competent jurisdiction in the Cayman Islands. 
  

	 	k)	Rights Cumulative 

 All right granted to either of the Parties shall be cumulative and no
exercise by either of the Parties of any right under this Agreement shall restrict or prejudice the exercise of any other right granted by this Agreement or otherwise available to it. 

 

	 	l)	Waiver 

 The failure by either party to enforce at any time or for any period any one or
more of the terms or conditions of this Agreement shall not be a waiver of such term or condition or of the right at any time subsequently to enforce all terms and conditions of this Agreement. 

 SCHEDULE “A” 

 

			
	 COMMENCEMENT DATE:
	 	1st June, 2013
		
	 LICENSOR:
	 	IPH LIMITED
		
	 LICENSEE:
	 	OXBRIDGE RE
		
		 	HOLDINGS LIMITED
		
	 TERM:
	 	Three Months from
		
		 	Commencement Date and
		
		 	thereafter month to month
		
	 RENT:
	 	US$1,000 per month

 

 

 IN WITNESS WHEREOF the parries hereto have executed this Agreement the day and year first herein before written.

  

									
	  
 Signed for and on behalf of the Licensor
	  	  
 )

)
 )

)
	  	

	  	

  

	
	 in the presence of:

	
	/s/ Susan Bjuro
	 Signature

	
	Susan Bjuro
	 Name

	
	 1st FLOOR, LANDMARK Sq, GRAND CAYMAM

	 Address

  

					
	 Signed for and on behalf of the Licensee
	    	)	  	

		    	)	  
		    	)	  	SANAJAY MADHU
		    	)	  	CFO OXBRIDGE RE Holding Limited

  

	
	 in the presence of:

	
	/s/ Susan Bjuro
	 Signature

	
	Susan Bjuro
	 Name

	
	 1st FLOOR, LANDMARK Sq, GRAND CAYMAM

	 Address

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