We investigate the reversible diffusion-influenced reaction of an isolated pair in the context of the area reactivity model that describes the reversible binding of a single molecule in the presence of a binding site in terms of a generalized version of the Feynman-Kac equation in two dimensions. We compute the corresponding exact Green's function in the Laplace domain for both the initially unbound and bound molecule. We discuss convolution relations that facilitate the calculation of the binding and survival probabilities. Furthermore, we calculate an exact analytical expression for the Green's function in the time domain by inverting the Laplace transform via the Bromwich contour integral and derive expressions for the binding and survival probability in the time domain as well. We numerically confirm the accuracy of the obtained expressions by propagating the generalized Feynman-Kac equation in the time domain. Our results should be useful for comparing the area reactivity model with the contact reactivity model.