On January 23, 2020, the Board of Directors (the “Board”) of Registrant and Unity Bank, the Registrant’s wholly owned subsidiary and a New Jersey State chartered commercial bank, entered into an indemnification agreement with each of its directors (each, an “Indemnitee”).

The Indemnification Agreement clarifies and supplements the indemnification rights and obligations of the Indemnitee and Company already included in the Company’s Certificate of Incorporation. Under the terms of the Indemnification Agreement, subject to certain exceptions specified in the Indemnification Agreement, the Company will indemnify the Indemnitee to the fullest extent permitted by New Jersey law in the event the Indemnitee becomes subject to or a participant in certain claims or proceedings as a result of the Indemnitee’s service as a director. The Company will also, subject to certain exceptions and repayment conditions, advance to the Indemnitee specified indemnifiable expenses incurred in connection with such claims or proceedings.

The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the full and complete terms of the form of Indemnification Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

UNITY BANCORP INC /NJ/ Exhibit
EX-10.1 2 a101formofindemnificationa.htm EXHIBIT 10.1 Exhibit FORM OF INDEMNIFICATION AGREEMENTThis Agreement is made as of _______________________,…
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About UNITY BANCORP, INC. (NASDAQ:UNTY)

Unity Bancorp, Inc. is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Company’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, such as personal and business checking accounts, time deposits, money market accounts and regular savings accounts. It engages in lending activities and offers commercial, small business administration, consumer, mortgage, home equity and personal loans. The Bank is a full-service commercial bank, that provides business and consumer financial services through its office in Clinton, New Jersey and over 14 New Jersey branches located in Clinton, Edison, Flemington, Highland Park, Linden, Middlesex, North Plainfield, Phillipsburg, Scotch Plains, Somerset, South Plainfield, Union, Washington and Whitehouse. The Bank has over one Pennsylvania branch located in Forks Township.