How to understand this sentence?

I've got a question about how to understand a specific sentence with construction as below:

[something is going to happen] UNTIL (1st condition) OR (2nd condition)

As I understand, when we have OR, [something is going to happen] if whichever of the conditions are met.

Others say, that 1st condition is obligatory for something to happen, and the second condition is optional (they say, the order of conditions written in sequence is what matters)

So, how is it?

podaj przyklad

"The employment status shall continue until the employee's release or until all company's liabilities end."

"or" jest niejednoznaczne może znaczyć zarówno "either ... or ..." jak i "and/or". Nie sądzę, żeby "until" miało tu coś do rzeczy

i nie ma tam kontynuacji w rodzaju 'whichever occurs first'?

No właśnie nie ma.

ja to rozumiem wlasnie jako whichever occurs first

No właśnie ja też to tak rozumiem, ale chciałem się zapytać na forum.