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Exhibit 10.12    
    

REVOLVING NOTE 

	$75,000	 	 	 	As of August 3, 2004

Houston, Texas

        Coastal Bancshares Acquisition Corp., a Delaware corporation (the "Maker") promises to pay to the order of Coastal Acquisition, LLC (the "Payee") the principal
sum of Seventy Five Thousand Dollars($75,000) lawful money of the United States of America or such lesser amount as may have been advanced and be outstanding hereunder, on the terms and conditions
described below. 

	1.
	Principal.    The principal balance of this Note shall be repayable on the later of (i) October 31, 2004 or
(ii) the date on which Maker consummates an initial public offering of its securities.

	2.
	Interest.    No interest shall accrue on the unpaid principal balance of this Note.

	3.
	Advancement of Funding.    Maker shall have the right to request from Payee advances under this Note and Payee shall make
advances under this Note, up to an aggregate amount funded at any time of Seventy Five Thousand and No/100 Dollars ($75,000.00).

	4.
	Application of Payments.    All payments shall be applied first to payment in full of any costs incurred in the collection of
any sum due under this Note, including (without limitation) reasonable attorneys' fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of
this Note.

	5.
	Events of Default.    The following shall constitute Events of Default: 

        (a)   Failure to Make Required Payments. Failure by Maker to pay the principal of or accrued interest on this Note within five
(5) business days following the date when due. 

        (b)   Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal Bankruptcy Code, as now
constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any
assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing. 

        (c)   Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in
respect of maker in an involuntary case under the Federal Bankruptcy Code, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or
liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days. 

	6.
	Remedies. 

        (a)   Upon
the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice to Maker, declare this Note to be due and payable, whereupon
the principal amount of this Note, and
all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything
contained herein or in the documents evidencing the same to the contrary notwithstanding. 

        (b)   Upon
the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of, and all other sums payable with regard to, this Note
shall 

 

automatically
and immediately become due and payable, in all cases without any action on the part of Payee. 

	7.
	Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of
dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might
accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale
under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a
judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

	8.
	Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or
enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any
indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agree that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to them or
affecting their liability hereunder.

	9.
	Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested,
(ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery, (iv) sent by telefacsimile or
(v) sent by e-mail, to the following addresses or to such other address as either party may designate by notice in accordance with this Section: 

	 	 	If to Maker:	 	Coastal Bancshares Acquisition Corp.

9821 Katy Freeway, Suite 500

Houston, TX 77024

Attn: Mr. W. Donald Brunson
	

 	
 	

If to Payee:	
 	

Coastal Acquisition, LLC

9821 Katy Freeway, Suite 500

Houston, TX 77024

Attn: Mr. Cary Grossman

Notice shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation,
(iii) the date on which an e-mail transmission was received by the receiving party's on-line access provider (iv) the date reflected on a signed delivery receipt,
or (vi) two (2) Business Days following tender of delivery or dispatch by express mail or delivery service. 

	10.
	Construction. This Note shall be construed and enforced in accordance with the laws of the State of Texas.

	11.
	Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

2

 

        IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by its Chief Executive Officer the day and year first above written. 

	 	 	COASTAL BANCSHARES ACQUISITION CORP.
	

 	
 	

By:	

/s/  CARY GROSSMAN      
 Cary Grossman,

Chief Executive Officer

3

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Exhibit 10.13    
    

                        ,
2004 

Newbridge
Securities Corporation

I-Bankers Securities Incorporated

c/o Newbridge Securities Incorporated

1451 West Cypress Creek Road

Fort Lauderdale, FL 33309 

	Re:
	Coastal
Bancshares Acquisition Corp. 

Gentlemen:

        This
letter will confirm the agreement of the undersigned to, collectively, purchase warrants ("Warrants") of Coastal Bancshares Acquisition Corp. ("Company") included in the units
("Units") being sold in the Company's initial public offering ("IPO") upon the terms and conditions set forth herein. Each Unit is comprised of one share of Common Stock and two Warrants. The shares
of Common Stock and Warrants will not be separately tradeable until 90 days after the effective date of the Company's IPO unless I-Bankers Securities Incorporated and Newbridge
Securities Corporation (the "Representatives") inform the Company of their decision to allow earlier separate trading. 

        Each
of the undersigned agrees that this letter agreement constitutes an irrevocable order for the Representatives to purchase for the undersigned's accounts within the twenty
trading-day period commencing on the date separate trading of the Warrants commences ("Separation Date"), collectively, up to 1,000,000 Warrants at market prices not to exceed $0.65 per
Warrant ("Maximum Warrant Purchase"). The Representatives (or such other broker dealer(s) as the Representatives may assign the order to) agrees to fill such order in such amounts and at such times as
it may determine, in
its sole discretion. The Representatives further agree that they will not charge the undersigned any fees and/or commissions with respect to such purchase obligation. 

        The
undersigned may notify the Representatives that all or part of the Maximum Warrant Purchase will be made by an affiliate of the undersigned (or another person or entity introduced to
the Representatives by the undersigned (a "Designee")) who (or which) has an account with the either of the Representatives and, in such event, the Representatives will make such purchase on behalf of
said affiliate or Designee; provided, however, that the undersigned hereby agrees to make payment of the purchase price of such purchase in the event that the affiliate or Designee fails to make such
payment. 

	 	Very truly yours,
	

 	

 
	 	
 Cary M. Grossman
	

 	

 
	 	
 W. Donald Brunson

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Exhibit 10.13

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