ADDENDUM TO OFFER OF EMPLOYMENT

This Addendum to Offer of Employment  (“Addendum”) dated the day of August 1, 2015 is between Oxbridge Re Holdings Limited, a Cayman Islands corporation (“Oxbridge”), and Wrendon Timothy, an individual (“Executive”).

WHEREAS, Executive is currently employed by Oxbridge, and Oxbridge and Executive previously entered into an Offer of Employment dated August 1, 2013 (“Agreement”), which sets forth terms and conditions of Executive’s employment; and

WHEREAS, the parties desire to amend certain of those terms and conditions in the Agreement as set forth below without amending the remaining terms of the Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, it is agreed by and between Oxbridge and Executive that the Agreement is amended as follows:

 

Paragraph entitled “Commencement Date” within the Agreement is hereby deleted and replaced in its entirety with the following:

Term. The initial term of the Executive’s employment hereunder will commence on August 1, 2013 and continue for a period of three years, unless earlier terminated pursuant to the terms of this Agreement. The Executive’s employment shall then continue for a second term of three years, and thereafter, automatically renew for additional one-year terms unless either party delivers written notice of non-renewal at least 90 days before expiration of the initial term or any renewal term. The initial term and any renewal term are hereinafter collectively referred to as the "Term”.

Except as otherwise expressly set forth in this Addendum, the Agreement shall remain unchanged and in full force and effect in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have executed this Addendum to Employment Agreement as of the 15th day of August 2016.