Document:

Exhibit 10.5

 Exhibit 10.5 
 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT, made and entered into this
                     day of
                    , 2006 (“Agreement”), by and between UNION STREET ACQUISITION CORP., a Delaware corporation
(the “Company”) and the undersigned (“Indemnitee”). 
 WHEREAS, highly competent
persons are becoming more reluctant to serve corporations as directors or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the corporation, and 
 WHEREAS, the Board of Directors of the Company has
determined that the inability to attract and retain such persons is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection
in the future; and 
 WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify
such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; and 
 WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that
Indemnitee be so indemnified; 
 NOW, THEREFORE, in consideration of the promises, conditions, representations and warranties set
forth herein, including Indemnitee’s continued service to the Company, the Company and Indemnitee hereby covenant and agree as follows: 
 Article I 
 DEFINITIONS 
 For purposes of this Agreement, the following terms shall have the meaning given here: 
  

	1.01	“Board” shall mean the Board of Directors of the Company. 

 1.02 “Corporate Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit
or other enterprise which such person is or was serving at the express written request of the Company. 
 1.03 “Covered Act” means
any breach of duty, neglect, error, misstatement, misleading statement, omission or other act done or wrongfully attempted by Indemnitee or against any of the foregoing alleged by any claimant or any claim against Indemnitee by reason of being a
director, officer or stockholder of the Company. 

 1.04 “D&O Insurance” means the directors’ and officers’ liability insurance in
favor of the Company and as reflected by the policy or policies issued by the insurer(s), and having the policy number(s), amount(s) and deductible(s) now existing and included in the Company’s files or replacement or substitute policies issued
by one or more reputable insurers providing in all respects coverage at least comparable to and in the same amount as that provided under the policy or policies covering the Company and its directors and officers as of the date hereof.

  

	1.05	“Determination” means a determination, based on the facts known at the time, made by: 

  

	 	(a)	A majority vote of Disinterested Directors, or 

  

	 	(b)	A committee of Disinterested Directors designated by majority vote of such directors, or 

  

	 	(c)	If there are no Disinterested Directors, or if such Disinterested Directors so direct, by independent legal counsel in a written opinion, or 

  

	 	(d)	by the stockholders. 

 “Determined” shall have a correlative meaning. 
 1.06 “Disinterested Director” means a director of
the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 
  

	1.07	“Effective Date” means
                    , 2006. 

  

	1.08	“Excluded Claim” means any payment for Losses or Expenses in connection with any claim: 

  

	 	(a)	Based upon or attributable to Indemnitee gaining in fact any personal profit or advantage to which Indemnitee is not entitled; or 

  

	 	(b)	For the return by Indemnitee of any remuneration paid to Indemnitee without the previous approval of the stockholders of the Company which is illegal; or 

 

	 	(c)	For an accounting of profits in fact made from the purchase or sale by Indemnitee of securities of the Company within the meaning of Section 16 of the Securities Exchange Act
of 1934, as amended, or similar provisions of any state law; or 

  

 - 2 - 

	 	(d)	Resulting from Indemnitee’s knowingly fraudulent, dishonest or willful misconduct or gross negligence; or 

  

	 	(e)	The payment of which by the Company under this Agreement is not permitted by applicable law. 

 1.09 “Expenses” shall include all out-of-pocket expenses including all reasonable attorneys fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, all costs of e-discovery, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding, but shall not include Fines. 
 1.10
“Fines” mean any fine, penalty or, with respect to an employee benefit plan, any excise tax or penalty assessed with respect thereto. 
 1.11 “Good Faith” shall mean Indemnitee having acted in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect to any criminal
Proceeding, having had no reasonable cause to believe Indemnitee’s conduct was unlawful. 
 1.12 “Independent Counsel” means a
law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past three years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such
party or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing the term “Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 1.13 “Loss” means any amount which Indemnitee is legally obligated to pay as a result of a claim or claims made against him or her for Covered
Acts including, without limitation, damages and judgments and sums paid in settlement of a claim or claims, but shall not include Fines. 
 1.14
“Proceeding” includes any action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other actual threatened or completed proceeding whether civil, criminal, administrative
or investigative, other than one initiated by Indemnitee. For purposes of the foregoing sentence, a “Proceeding” shall not be deemed to have been initiated by Indemnitee where Indemnitee seeks pursuant to Article IX of this Agreement to
enforce Indemnitee’s rights under this Agreement relating thereto. 
  

 - 3 - 

 Article II 
 SERVICES BY, AND CAPACITIES OF, INDEMNITEE 
 Indemnitee has agreed to serve as a director or officer
of the Company or may serve in both of such capacities. The positions under which Indemnitee will render services to the Company shall be all those which are reflected in the meeting minutes of the Company’s stockholders or directors or both,
as the case may be, and will include any and all services rendered in the capacity as a stockholder of the Company. Indemnitee may at any time and for any reason resign from such position(s), subject to any other contractual obligation or any
obligation imposed by operation of law. 
 Article III 
 MAINTENANCE OF D&O INSURANCE 
 3.01 Description of D&O Insurance. The Company maintains the
policies of directors’ and officers’ liability insurance that are in effect at the date hereof, all of which have been disclosed to the Indemnitee and as to which Indemnitee acknowledges having the right to receive a copy or copies of all
such policies prior to execution hereof or upon reasonable request at any time hereafter. 
 3.02 Named Insured. In any policies of D&O
Insurance which are maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the Company’s directors and
officers most favorably insured by such policy. 
 3.03 No Obligation. Nothing herein shall impose upon the Company the obligation to maintain
D&O Insurance if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, or the coverage provided by such insurance is
limited by exclusions so as to provide an insufficient benefit. 
 Article IV 
 INDEMNIFICATION 
 4.01 Indemnification in General. The Company shall indemnify and
hold Indemnitee harmless for any Losses, Expenses, judgments, penalties, Fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in Good Faith. 
 4.02 Excluded Coverage. The Company shall have no obligation to indemnify and hold
Indemnitee harmless from any Losses or Expense which have been Determined to constitute an Excluded Claim. Notwithstanding the provisions of Section 4.01, no such indemnification shall be made in respect of any claim, issue or matter in such
Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company if applicable law prohibits such indemnification; provided, however, that, if applicable law so permits, indemnification shall nevertheless be made by the Company
in such event if and only to the extent that the Court of Chancery of the State of Delaware, or the court in which such Proceeding shall have been brought or pending, shall Determine. 
  

 - 4 - 

 4.03 Indemnification of a Party Who Is Wholly or Partly Successful. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be indemnified to the maximum extent permitted by law,
against all Losses, Expenses, judgments, penalties, Fines and amounts paid in settlement, actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such
Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee to the maximum extent permitted by law, against all Losses, Expenses,
judgments, penalties, Fines and amounts paid in settlement, actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section 4.03
and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter, so long as there has been no finding
(either adjudicated or pursuant to Article VI) that Indemnitee did not act in Good Faith. 
 4.04 Indemnification For Expenses of a Witness.
Notwithstanding any other provision of this Agreement to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness in a Proceeding, Indemnitee shall be indemnified against all Losses and Expenses actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 
 Article V 
 ADVANCEMENT OF EXPENSES 
 Notwithstanding any provision to the contrary in Article VI, the Company shall advance all reasonable Expenses which, by reason of Indemnitee’s Corporate Status, are incurred by or on behalf of Indemnitee in connection with any
Proceeding, within twenty (20) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances, whether prior to or after final disposition of such Proceeding. Such statement or statements
shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses if it shall ultimately be determined that Indemnitee is not entitled
to be indemnified against such Expenses. Such statements may be redacted to the extent necessary to preserve attorney-client confidentiality, work product or other applicable privileges, if any. Any advance and undertakings to repay pursuant to this
Article V shall be unsecured and interest free. 
  

 - 5 - 

 Article VI 
 PROCEDURES FOR DETERMINATION OF ENTITLEMENT 
 6.01 Initial Notice. Promptly after receipt by Indemnitee
of notice of the commencement of or the threat of commencement of any Proceeding, Indemnitee shall, if indemnification with respect thereto may be sought from the Company under this Agreement, notify the Company of the commencement thereof.
Indemnitee shall include therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of
the Company shall promptly advise the Board in writing that Indemnitee has requested indemnification. 
 6.02 D&O Insurance. If, at the
time of the receipt of such notice, the Company has D&O Insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies in
favor of Indemnitee. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all Losses and Expenses payable as a result of such Proceeding in accordance with the terms of such
policies. 
 6.03 Employment of Counsel. To the extent the Company does not, at the time of the commencement of or the threat of commencement
of a Proceeding, have applicable D&O Insurance, or if a Determination is made that any Expenses arising out of such Proceeding will not be payable under the D&O Insurance then in effect, the Company shall be obligated to pay the Expenses of
any such Proceeding in advance of the final disposition thereof as provided in Article V and the Company, if appropriate, shall be entitled to assume the defense of such Proceeding, with counsel satisfactory to Indemnitee, upon the delivery to
Indemnitee of written notice of its election so to do. After delivery of such notice, the Company will not be liable to Indemnitee under this Agreement for any legal or other Expenses subsequently incurred by Indemnitee in connection with such
defense other than reasonable Expenses of investigation provided that Indemnitee shall have the right to employ its own counsel in any such Proceeding but the fees and expenses of such counsel incurred after delivery of notice from the Company of
its assumption of such defense shall be at Indemnitee’s expense and, provided further, that if (i) the employment of counsel by Indemnitee has been previously authorized by the Company, (ii) Indemnitee and counsel shall have
reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (iii) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, the
fees and expenses of counsel shall be at the expense of the Company. 
 6.04 Payment. All payments on account of the Company’s
indemnification obligations under this Agreement shall be made within sixty (60) days of Indemnitee’s written request therefor unless a Determination is made that the claims giving rise to Indemnitee’s request are Excluded Claims or
otherwise not payable under this Agreement or applicable law. 
  

 - 6 - 

 6.05 Reimbursement by Indemnitee. Indemnitee agrees that he or she will reimburse the Company for all
Losses and Expenses paid by the Company in connection with any Proceeding against Indemnitee in the event and only to the extent that a Determination shall have been made by a court in a final adjudication from which there is no further right of
appeal that Indemnitee is not entitled to be indemnified by the Company for such Expenses because the claim is an Excluded Claim or because Indemnitee is otherwise not entitled to payment under this Agreement. 
 6.06 Cooperation. Indemnitee shall cooperate with the person, persons or entity making the Determination with respect to Indemnitee’s entitlement to
indemnification under this Agreement, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such Determination. Any costs or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such Determination
shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 Article VII 
 SETTLEMENT

 The Company shall have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding
effected without the Company’s prior written consent. The Company shall not settle any claim in any manner which would impose any Fine or other obligation on Indemnitee without Indemnitee’s written consent. Neither the Company nor
Indemnitee shall unreasonably withhold their consent to any proposed settlement. 
 Article VIII 
 RIGHTS NOT EXCLUSIVE 
 The rights
provided hereunder shall not be deemed exclusive of any other rights to which Indemnitee may be entitled under any bylaw, agreement, vote of stockholders or of Disinterested Directors or otherwise, both as to action in his official capacity and as
to action in any other capacity by holding such office, and shall continue after Indemnitee ceases to serve the Corporation as a director or officer. 
 Article IX 
 ENFORCEMENT 
 9.01 Burden of Proof. Indemnitee’s right to indemnification shall been enforceable by Indemnitee only in the state courts of the State of Delaware and shall be enforceable notwithstanding any
adverse Determination. In any such action, if a prior adverse Determination has been made, the burden of proving that indemnification is required under this Agreement shall be on Indemnitee. The Company shall have the burden of proving that
indemnification is not required under this Agreement if no prior adverse Determination shall have been made. 
  

 - 7 - 

 9.02 Costs And Expenses. In the event that any action is instituted by Indemnitee under this Agreement, or
to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and Expenses, including reasonable counsel fees, incurred by Indemnitee with respect to such action, unless the court determines that
each of the material assertions made by Indemnitee as a basis for such action were not made in Good Faith or were frivolous. 
 Article X

 GENERAL PROVISIONS 
 10.01
Successors And Assigns. This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and Indemnitee’s heirs, executors, personal representatives and administrators.

 10.02 No Duplicate Indemnity or Recovery. Notwithstanding any provisions to the contrary herein, this Agreement shall not be interpreted or
construed in such a manner as to provide Indemnitee duplicate indemnities or recoveries to the extent Indemnitee is entitled (x) under applicable law, D&O insurance policies or other contracts or agreements, to (y) indemnity or
reimbursement of Losses, Expenses, judgments, penalties, Fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with a Proceeding or any claim, issue or matter therein.

 10.03 Severability. If any provision or provisions of this Agreement is determined by a court to be invalid, illegal or unenforceable for
any reason whatsoever, such provision shall be limited or modified in its application to the minimum extent necessary to avoid a violation of law, and, as so limited or modified, such provision and the balance of this Agreement shall be enforceable
in accordance with its terms. 
 10.04 Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of
this Agreement. This Agreement or any counterpart may be executed via facsimile or other electronic transmission, and any such executed facsimile or electronic copy shall be treated as an original. 
 10.05 Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof. 
 10.06 Modification and Waiver. No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such
waiver constitute a continuing waiver. 
  

 - 8 - 

 10.07 Trust Account Waiver. The Indemnitee hereby waives any and all right, title, interest or claim of any
kind in or to any distribution of any property held in trust for the Company in that certain trust account established with Continental Stock Transfer & Trust Company, as trustee, and in which the Company has deposited certain of the
proceeds of its initial public offering, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any claim of any kind against the Trust Account for any reasons whatsoever. 
 10.08 Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if
(i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on
which it is so mailed. 
  

			
	If to Indemnitee to:	  	As shown with Indemnitee’s signature below
		
	If to the Company to:	  	 Union Street Acquisition Corp.
 102 South Union
Street
 Alexandria, VA 22314
 Attn: Company
Secretary

		
	With a copy to	  	 Arnold & Porter LLP
 1600 Tysons Blvd,
Suite 900
 McLean, VA 22102
 Attn: Kevin J.
Lavin

 or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee,
as the case may be. 
 10.09 Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of Delaware without application of the conflict of laws principles thereof. 
 10.10 Consent to
Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the state courts of the State of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this Agreement,
and agree that any action instituted under this Agreement shall be brought only in the state courts of the State of Delaware. 
 10.11 Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the parties hereto in reference to all the matters herein agreed upon. This Agreement replaces in full all prior indemnification agreements or
understandings of the parties hereto, and any and all such prior agreements or understandings are hereby rescinded by mutual agreement. 
 [Remainder of page intentionally blank] 
  

 - 9 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement on the day and
year first above written. 
  

			
	 UNION STREET ACQUISITION CORP.,

	 a Delaware Corporation

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 INDEMNITEE

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	 Director and/or Executive Officer

	
	 Address:

  

 - 10 -Exhibit 10.6

 Exhibit 10.6 
 UNION STREET ACQUISITION CORP. 
 102 South Union Street 
 Alexandria, VA 22314 
 [            ,             ], 2006 
 Union Street Capital Management, LLC 
 102 South Union Street 
 Alexandria, VA 22314 
 Gentlemen: 
 This letter will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the registration statement on Form S-1 (File No. 333-136530), as amended and as
filed with the Securities and Exchange Commission (the “Registration Statement”) relating to the initial public offering (the “IPO”) of the securities of Union Street Acquisition Corp. (the
“Company”) and continuing until the earlier of (i) the Company’s consummation of a “Business Combination” or (ii) the Company’s dissolution and liquidation (each as described and defined, and in
accordance with the terms and conditions set forth in the Registration Statement) (the “Termination Date”), Union Street Capital Management, LLC (the “Provider”) shall make available to
the Company certain office space, utilities, secretarial support and other administrative services as may be required by the Company from time to time, situated at 102 South Union Street, Alexandria, VA 22314. In exchange therefor, the Company shall
pay the Provider the sum of $7,500 per month on the Effective Date and continuing monthly thereafter until the Termination Date. The Company has informed the Provider that certain net proceeds from the IPO will be held in trust (the
“Trust Account”) as more fully described in the Registration Statement. By agreeing and signing below, the Provider hereby irrevocably waives any and all rights, interests, claims, demands, damages, actions, causes of action
or suit of any nature whatsoever, known or unknown, foreseen or unforeseen, in law or equity, that the Provider may have against the Company or the Trust Account in respect of funds held in the Trust Account. 
 [signature page to follow] 

 Union Street Capital Management, LLC 
 [            ,             ], 2006 
 Page 2 
  

			
	Very truly yours,
	
	UNION STREET ACQUISITION CORP.
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

  

			
	AGREED TO AND ACCEPTED BY:
	
	UNION STREET CAPITAL MANAGEMENT, LLC
		
	By:	 	 /s/

	Name:	 	
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}]]