Company: PNBK
Filing Date: 2025-07-10
Form Type: S-8
Source: 0001437749-25-022532
Chunk: 2

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-07-10
Form: S-8
Chunk 2
---
 this Registration Statement to the extent that a statement contained in this Registration Statement, or in a subsequently filed document also incorporated by reference herein, modifies or supersedes that statement.

| Item 4. | Description of Securities. |

Not applicable.

| Item 5. | Interests of Named Experts and Counsel. |

Not applicable.

| Item 6. | Indemnification of Directors and Officers. |

Section VI of the Registrant’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”), provides that the Registrant shall, to the fullest extent permitted or required under the Connecticut Business Corporation Act, as amended (the “CBCA”), and 12 C.F.R. Part 359, indemnify anyone that the Registrant has the power to indemnify against any expenses, liabilities or other matters referred to in or covered by the CBCA and 12 C.F.R. Part 359. This indemnification is not exclusive of any other rights to which those seeking indemnification may be entitled under any law, agreement, vote of shareholders or disinterested directors, or otherwise. Both action in an official capacity and action in another capacity while holding office may be subject to indemnification. A person’s right to indemnification does not cease solely because that person ceases to be a director, officer, employee or agent, or because that person dies.

Section 33-771 of the CBCA permits the indemnification of directors and other individuals as long as such individual’s behavior conforms to certain standards. Section 33-636 provides that a corporation’s Certificate of Incorporation may limit personal liability and make indemnification obligatory under certain circumstances.

The Registrant’s Certificate of Incorporation does not provide for indemnification for expenses, penalties or other payments incurred in an administrative proceeding instituted by a bank regulatory agency resulting in civil monetary penalties or requiring payments to the Registrant. Director liability for breach of a duty to the Registrant or its shareholders for monetary damages is limited to the amount of compensation received by such director for serving the Registrant during the year of the violation, unless the breach:

| ● | involved a knowing and culpable violation of law by the director; |

| ● | enabled the director or an associate, as defined in Section 33-840 of the CBCA or any similar successor provision of the Connecticut General Statutes, to receive an improper personal economic gain; |

| ● | showed a lack of good faith and a conscious disregard for the duty of the director to the Registrant under circumstances in which the