UNITY BANCORP INC /NJ/ : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
January 29, 2020 at 03:17 am IST
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Item 1.01 Entry into a Material Definitive Agreement
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.
Exhibit No. Description
10.1 Form of Indemnification Agreement signed January 23, 2020 by and
between the Registrant, Unity Bank, and each of its directors.
Unity Bancorp, Inc. is a bank holding company that serves as a holding company for Unity Bank (the Bank). The primary activity of the Company is ownership and supervision of the Bank. The Bank, the Companyâs wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union and Warren Counties in New Jersey and Northampton County in Pennsylvania. The Bank conducts a traditional and community-oriented commercial banking business and offers services, including personal and business checking accounts, time deposits, money market accounts, savings accounts, credit cards, debit cards, wire transfers, safe deposit boxes, access to automated teller services and Internet and mobile banking, typical of a community banking business. The Bank also offers retirement accounts, automated clearing house (ACH) origination and remote deposit capture (RDC).
UNITY BANCORP, INC. 
