Document:

EX-10.3

 Exhibit 10.3 

EXHIBIT D 
 FORM OF
VOTING AGREEMENT 
 This Voting Agreement (this “Agreement”), dated as of September 8, 2022, is by and among the
shareholders listed on the signature page hereto (each, a “Shareholder” and, collectively, the “Shareholders”) and each of the purchasers listed on the signature page hereto (each, an “Investor”
and, collectively, the “Investors”). 
 WHEREAS, simultaneously with the execution of this Agreement, Third Coast
Bancshares, Inc., a Texas corporation (the “Company”), and the Investors are entering into an Investment Agreement (the “Investment Agreement”), dated as the date hereof, providing, among other things, for the
purchase by the Investors from the Company of shares of Series A Preferred Stock; 
 WHEREAS, the Board of Directors of the Company has
approved the Investment Agreement and the transactions contemplated thereby; and 
 WHEREAS, as a condition and inducement to the
Investors’ willingness to enter into the Investment Agreement, the Investors have required that the Shareholders enter into this Agreement. 

NOW THEREFORE, in consideration of the foregoing and the mutual premises, representations, warranties, covenants and agreements contained
herein and in the Investment Agreement, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Certain
Definitions. 
 (a) For purposes of this Agreement, all capitalized terms used but not otherwise defined herein shall have the
respective meanings given to such terms in the Investment Agreement. 
 (b) For purposes of this Agreement, “beneficially
own” or “beneficial ownership” with respect to any securities shall mean having “beneficial ownership” of such securities (as determined pursuant to Rule 13d-3 under the
Exchange Act). 
 (c) For purposes of this Agreement, the following terms shall have the following meanings: 

“Company Common Stock” means the Company’s common stock, par value $1.00 per share. 

“Shareholder’s Subject Shares” shall mean, with respect to a particular Shareholder, all shares of Company Common Stock
beneficially owned by such Shareholder as of the date hereof and as set forth opposite such Shareholder’s name on the schedule attached hereto as Exhibit 1 and any and all such other shares of Company Common Stock acquired or otherwise
beneficially owned from time to time by such Shareholder after the date of this Agreement. 

  
 EXHIBIT D-1 

 2. Representations, Warranties and Covenants of Shareholder. Each Shareholder hereby
severally, but not jointly, represents and warrants to the Investors as follows: 
 (a) Title. Set forth opposite such
Shareholder’s name on Exhibit 1 hereto is a true and complete list of all of the shares of Company Common Stock of which such Shareholder is the record or beneficial owner as of the date hereof. Except as set forth on Exhibit 1,
as of the date hereof, such Shareholder is the sole record or beneficial owner of such Shareholder’s Subject Shares, and such Shareholder is the lawful owner of such Shareholder’s Subject Shares. 

(b) Right to Vote. Except as set forth on Exhibit 1, such Shareholder has, with respect to all such Shareholder’s Subject
Shares, sole voting power and sole power to issue instructions with respect to the matters set forth in Section 3, in each case with no limitations, qualifications or restrictions on such rights other than (i) pursuant
to the terms of this Agreement and (ii) restrictions under applicable securities laws. 
 (c) Authority. Such Shareholder has
the requisite power and authority to execute and deliver, and to perform such Shareholder’s obligations under, this Agreement. This Agreement has been duly and validly executed and delivered by such Shareholder, and, assuming due authorization,
execution and delivery by each Investor, constitutes a valid and binding agreement of such Shareholder enforceable against such Shareholder in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of good faith and fair dealing (regardless of whether
enforcement is sought in a proceeding at law or in equity). 
 (d) Conflicting Instruments. Neither the execution and delivery of
this Agreement nor the performance by such Shareholder of such Shareholder’s agreements and obligations hereunder will result in any breach or violation of, or be in conflict with or constitute a default under, any term of any contract,
agreement, voting agreement, stockholders’ agreement, trust agreement, voting trust, proxy, power of attorney, pooling arrangement, note, mortgage, indenture, instrument, arrangement or other obligation or restriction of any kind to which the
Shareholder is a party or to or by which the Shareholder or the Shareholder’s Subject Shares are subject or bound. 
 3.
Representations, Warranties and Covenants of Investor. Each Investor hereto, severally, but not jointly, represents and warrants to the Shareholders that (a) the execution, delivery and performance by Investor of this Agreement and the
consummation by Investor of the transactions contemplated hereby are within the powers of the Investor and have been duly authorized by all necessary action and (b) Investor has duly executed and delivered this Agreement, and, assuming the due
authorization, execution and delivery by each Shareholder, this Agreement constitutes Investor’s legal, valid and binding obligation, enforceable against it in accordance with its terms. 

  
 EXHIBIT D-2 

 4. Agreements. 

(a) While this Agreement is in effect, the Shareholder agrees to vote (or cause to be voted) all of the Shareholder’s Subject Shares in
favor of (i) any proposal to approve the issuance of Company Common Stock upon the conversion of the Series A Preferred Stock and (ii) any proposal to approve the Non-Voting Common Stock Certificate
of Amendment (clause (i) and (ii) referred to as the “Shareholder Proposals”). 
 (b) While this Agreement is in
effect, each Shareholder agrees not to sell, transfer, or otherwise dispose of any shares of Company Common Stock until after the conclusion of the shareholder vote on the matters contemplated by Section 6(g) of the Investment Agreement,
exclusive of (i) pursuant to a transfer where the transferee has agreed in writing to abide by the terms of this Agreement in a form reasonably satisfactory to the Investors, (ii) dispositions of shares in connection with the exercise of
stock options and warrants in order to pay the exercise price thereof or to satisfy tax withholding obligations in connection with the exercise of stock options or the vesting of equity awards, (iii) transfers for estate and tax planning
purposes, including transfers to charitable organizations and transfers to any member of the Shareholder’s family, or to a trust or other entity for the benefit of one or more of the foregoing persons, provided that the transferee agrees in
writing to be bound by the terms of this Agreement, (iv) pursuant to a qualified domestic order, or (v) by will or under the laws of intestacy upon the death of the Shareholder. Notwithstanding the foregoing, a Shareholder shall be
permitted to transfer up to 5% of the Shareholder’s Subject Shares held by such Shareholder in the aggregate without complying with the foregoing provisions. 

5. Fiduciary Duties of Directors. Each Shareholder that is a director or officer of the Company or its Affiliates is entering into this
Agreement in his or her capacity as the record or beneficial owner of the Shareholder’s Subject Shares, and not in his or her capacity as a director or officer of the Company. Nothing in this Agreement shall be deemed in any manner to limit the
Shareholder from complying with his or her fiduciary duties or other legal obligations while acting in such capacity as a director or officer of the Company or its Affiliates or otherwise limit the discretion of any such Shareholder to take any
action, or fail to take any action, in his or her capacity as a director or officer of the Company or its Affiliates. 
 6.
Miscellaneous. 
 (a) Entire Agreement. This Agreement (including Exhibit 1 hereto) embodies the entire agreement and
understanding between the parties hereto in respect of the subject matter contained herein. This Agreement supersedes all prior written and prior or contemporaneous oral agreements and understandings between the parties with respect to the subject
matter of this Agreement. 
 (b) Invalid Provisions. If any provision of this Agreement or the application thereof to any person
(including the officers and directors parties hereto) or circumstances is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to persons or
circumstances other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable substitute provision to effect the original
intent of the parties. 

  
 EXHIBIT D-3 

 (c) Counterparts and Facsimiles. For the convenience of the parties hereto, this
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this Agreement may be delivered
by facsimile and such facsimiles will be deemed as sufficient as if actual signature pages had been delivered. 
 (d) Specific
Performance. The Shareholder agrees that, in the event of his, her or its breach of any of the terms of this Agreement, Investors shall be entitled to seek specific performance of the terms hereof, this being in addition to any other remedies to
which Investors may be entitled at law or in equity; provided, however, that CCCP VIII and any Affiliates thereof shall have no right to enforce against any Shareholder any provision of this Agreement that would result in CCCP VIII (or its
Affiliates) being deemed to control the shares of another Shareholder within the meaning of the BHC Act and the implementing regulations thereto (12 C.F.R. § 225.9(b)) (“Regulation Y”), including, but not limited to, such
provisions as may require a Shareholder to vote for or against any matter, or that restrict or condition the ability of a Shareholder to transfer its shares, to the extent not excepted under the BHC Act and Regulation Y. 

(e) Amendments; Termination. 

(i) This Agreement may not be modified, amended, altered or supplemented, except that this Agreement may be modified, amended,
altered or supplemented, as between the Investors and any particular Shareholder, upon the execution and delivery of a written agreement executed by the Investors and such Shareholder. 

(ii) The provisions of this Agreement shall automatically terminate and be of no further force or effect upon the mutual
agreement of the Investors and Shareholders in writing or the earliest to occur of (A) receipt of the Shareholder Approval or (B) the termination of the Investment Agreement in accordance with its terms. 

(f) Governing Law. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Texas,
without giving effect to conflicts of law principles or other principles that would require the application of any other law. 
 (g)
Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal successors (including, in the case of each Shareholder, any executors, administrators,
estates, legal representatives and heirs of such Shareholder) and permitted assigns; provided, that, except as otherwise provided in this Agreement, no party may assign, delegate or otherwise transfer any of its rights or obligations under this
Agreement. 

  
 EXHIBIT D-4 

 (h) Notices. All notices, communications and deliveries required or permitted by
this Agreement shall be made in writing signed by the party making the same, shall specify the Section of this Agreement pursuant to which it is given or being made and shall be deemed given or made (i) on the date delivered if delivered by
telecopy, electronic mail or in person, (ii) on the third (3rd) Business Day after it is mailed if mailed by registered or certified mail (return receipt requested) (with postage and other fees prepaid) or (iii) on the day after it is
delivered, prepaid, to an overnight express delivery service that confirms to the sender delivery on such day, as follows: 

(i) if to a Shareholder, at the address of such Shareholder set forth on Exhibit 1 attached hereto or at such other
address that such Shareholder may have provided in writing to the Investor; and 
 (ii) if to an Investor, to the address on
the signature page to the Investment Agreement, with copies (which copy alone shall not constitute notice) as set forth therein. 
 (i)
Individual Obligations. Each party’s obligations under this Agreement are individual and not joint or several obligations and no Shareholder shall have any liability to any Investor for the performance or
non-performance by any other Shareholder under this Agreement, and no Investor shall have any liability to any Shareholder for the performance or non-performance by any
other Investor under this Agreement. 
 (j) No Investor Rights. Nothing in this Agreement shall be construed to give any Investor any
rights to exercise or direct the exercise of voting power as owner of the Shareholder’s Subject Shares or to vest in any Investor any direct or indirect ownership or incidents of ownership of or with respect to any of the Shareholder’s
Subject Shares, except as otherwise expressly provided herein. All rights, ownership and economic benefits of and relating to the Shareholder’s Subject Shares shall remain vested in and belong to the Shareholder, notwithstanding the provisions
of this Agreement, and no Investor shall have any authority to exercise any power or authority to direct the Shareholder in voting any of the Shareholder’s Subject Shares, except as otherwise expressly provided herein. 

(k) The Shareholder hereby authorizes the Investors and the Company to publish and disclose in any announcement or disclosure required by any
regulatory or governmental authority and in the proxy statement for the meeting of Shareholders of the Company called to consider and vote on the Shareholder Proposals the Shareholder’s identity and ownership of the Shareholder’s Subject
Shares and the nature of the Shareholder’s obligations under this Agreement. 
 [Signature Pages Follow] 

  
 EXHIBIT D-5 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	INVESTOR:
	
	[Name of Investor]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 [Signature Page to Voting Agreement] 

 
			
	SHAREHOLDERS:
	
	[Names of Shareholders]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 [Signature Page to Voting Agreement] 

 EXHIBIT 1 

 

					
	 Name of Shareholder
	  	 Number of Shares

of Company
 Common
Stock
	  	 Notice Information

	Carolyn Bailey	  	7,600	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Dr. Martin Basaldua	  	95,090	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Dennis Bonnen	  	143,503	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	W. Donald Brunson	  	50,792	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Bart O. Caraway	  	271,849	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Audrey Duncan	  	25,869	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Norma J. Galloway	  	7,000	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281)
446-7000

					
	Troy A. Glander	  	38,813	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Shelton J. McDonald	  	5,000	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	R. John McWhorter	  	223,275	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Joseph L. Stunja	  	146,774	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000

			
	Reagan Swinbank	  	60,914	  	 20202 Highway 59 North, Suite 190
 Humble, Texas
77338
  
 Phone: (281) 446-7000EX-10.4

 Exhibit 10.4 

EXHIBIT L 
 FORM OF
LETTER AGREEMENT 
 THIRD COAST BANCSHARES, INC. 

20202 HIGHWAY 59 NORTH, SUITE 190 

HUMBLE, TX 77338 
 [•], 2022 

Castle Creek Capital Partners VIII, L.P. 
 11682 El Camino Real,
Suite 320 
 San Diego, CA 92130 
 Dear Sir/Madam: 

Reference is made to the Investment Agreement by and among Third Coast Bancshares, Inc., a Texas corporation (the
“Company”), and the investors name therein, including, without limitation, Castle Creek Capital Partners VIII, L.P., a Delaware limited partnership (the “Lead Investor”), dated as of September 8,
2022 (the “Agreement”). Capitalized terms used herein without definition shall have the respective meanings in the Agreement. 

In recognition of the Lead Investor’s purchase of $30 million of the Series A Preferred Stock pursuant to the Agreement and its role
in the offer and sale of the Series A Preferred Stock, the Company and the Lead Investor hereby agree to the matters set forth in this letter agreement. 

1. Covenants. Without limiting the terms of Section 6 of the Agreement as applicable to the Lead Investor, the Company and the
Lead Investor hereby agree, as follows: 
 (a) Access, Information and Confidentiality. So long as the Lead Investor, together with
its Affiliates, in the aggregate owns 4.9% or more of all of the outstanding shares of Common Stock (provided that, in making such calculation, all shares of Common Stock into or for which shares of any securities owned by the Lead Investor are
directly or indirectly convertible or exercisable, which, for the avoidance of doubt, shall include those shares of Common Stock issuable upon the conversion of shares of Series A Preferred Stock, Series B Preferred Stock, the Non-Voting Common Stock and/or the exercise of the Warrants, shall be included in both the numerator and denominator, and all Common Stock issued by the Company after the Closing Date shall be included in the
denominator except for any shares of Common Stock issued in an offering in which the Lead Investor (or a permitted assignee under Section 4) was not offered the right to purchase its pro rata portion of such Common Stock in
violation of Section 1(d)) (the “Qualifying Ownership Interest”), and subject to the confidentiality provision of Section 6(c) of the Agreement, the Company will (i) permit
the Lead Investor to visit and inspect, at the Lead Investor’s expense, the properties of the Company and Company Subsidiaries, to examine the corporate books and to discuss the affairs, finances and accounts of the Company and Company
Subsidiaries with personnel of the Company, all upon reasonable notice and at such reasonable times and as often as the Lead Investor may reasonably request, and (ii) make appropriate officers of the Company and Company Subsidiaries available
periodically and at such times as reasonably requested by the Lead Investor for consultation with the Lead Investor or its designated 

  
 EXHIBIT L-1 

 
representative with respect to matters relating to the business and affairs of the Company and Company Subsidiaries. Any investigation pursuant to this Section 1(a)
shall be conducted during normal business hours and in such manner as not to interfere unreasonably with the conduct of the business of the Company, and nothing herein shall require the Company or any Company Subsidiary to disclose any information
to the extent (x) prohibited by applicable law or regulation, (y) that the Company reasonably believes to be competitively sensitive proprietary information (except to the extent the Lead Investor provides assurances reasonably acceptable
to the Company that such information shall not be used by such the Lead Investor or its Affiliates to compete with the Company and Company Subsidiaries), or (z) that such disclosure would reasonably be expected to cause a loss of
attorney-client privilege to the Company or any Company Subsidiary (provided, that, the Company shall use commercially reasonable efforts to make appropriate substitute disclosure arrangements under circumstances where the restrictions in this
clause (a) apply). In addition to the Lead Investor’s rights pursuant to Section 2 of this letter agreement and subject to the foregoing limitations, the Lead Investor shall have the right to receive all materials
delivered to the Board of Directors and all committees thereof (other than matters pertaining to the Lead Investor or which would constitute confidential supervisory information within the meaning of 12 C.F.R. Part 261) as long as the Lead Investor
is entitled to a Board Representative or Observer in accordance with Section 2 of this letter agreement. 
 (b)
No Senior Preferred. So long as the Lead Investor continues to hold a Qualifying Ownership Interest, the Company shall not issue any shares or equity securities that rank, with respect to dividend rights and rights on liquidation, winding up
and dissolution of the Company, senior to the Series A Preferred Stock or Series B Preferred Stock, as applicable, without the prior written consent of the Lead Investor, which consent shall not be unreasonably withheld, conditioned or delayed;
provided, however, that no such consent shall be required to the extent that the Company or the Bank is required in its reasonable judgment to raise additional capital to maintain regulatory capital compliance. 

(c) No Rights Agreement. So long as the Lead Investor continues to hold a Qualifying Ownership Interest, the Company shall not enter
into any poison pill agreement, shareholders’ rights plan or similar agreement that shall limit the rights of the Lead Investor and its Affiliates and associates to hold any shares of Series A Preferred Stock, Series B Preferred Stock, Non-Voting Common Stock or Common Stock or Warrants or acquire additional securities of the Company unless such poison pill agreement, shareholders’ rights plan or similar agreement grants an exemption or
waiver to the Lead Investor and its Affiliates and associates and any group in which the Lead Investor may become a member, immediately effective upon execution of such plan or agreement, that would allow the Lead Investor and its Affiliates and
associates to acquire such additional securities of the Company. 
 (d) Gross-Up Rights. 

(i) Sale of New Securities. So long as the Lead Investor maintains a Qualifying Ownership Interest, if the Company makes any public or
nonpublic offering or sale of any equity (including Common Stock, Preferred Stock or restricted stock), or any securities, options or debt that is convertible or exchangeable into equity or that includes an equity component (such as an “equity
kicker”) (including any hybrid security) (any such security, a “New Security”) (other than (A) any Common Stock, Non-Voting Common Stock, Series A Preferred Stock, Series B
Preferred Stock or other securities issuable upon the exercise or conversion of any securities of the Company issued or agreed or contemplated (and disclosed to the Lead Investor in writing) to 

  
 EXHIBIT L-2 

 
be issued as of the date of the Agreement; (B) pursuant to the granting or exercise of employee stock options, restricted stock or other stock incentives or awards pursuant to the
Company’s stock incentive plans approved by the Board of Directors or the issuance of stock pursuant to the Company’s employee stock purchase plan approved by the Board of Directors or similar plan where stock is being issued or offered to
a trust, other entity or otherwise, for the benefit of any employees, officers or directors of the Company, in each case in the ordinary course of providing incentive compensation; (C) issuances of capital stock as full or partial consideration
for a merger, acquisition, joint venture, strategic alliance, license agreement or other similar nonfinancing transaction; (D) issuances of Common Stock upon exercise of warrants outstanding as of the date of the Agreement; (E) issuances
of any securities issued as a result of a stock split, stock dividend, reclassification or reorganization or similar event, but solely to the extent such issuance is made to all holders of Common Stock); or (F) issuances of Series A Preferred
Stock to other investors as part of the offering contemplated by the Agreement), then the Lead Investor shall be afforded the opportunity (provided, in the case of an offering that is not a registered public offering, that the Lead Investor
satisfied any applicable “accredited investor” requirements applicable to such offering) to acquire from the Company for the same price (net of any underwriting discounts or sales commissions) and on the same terms as such securities are
proposed to be offered to others, up to the amount of New Securities in the aggregate required to enable it to maintain its proportionate Common Stock equivalent interest in the Company immediately prior to any such issuance of New Securities. The
amount of New Securities that the Lead Investor shall be entitled to purchase in the aggregate shall be determined by multiplying (x) the total number or principal amount of such offered New Securities by (y) a fraction, the numerator of
which is the total number of shares of Common Stock and Non-Voting Common Stock then held by the Lead Investor (counting for such purposes all shares of Common Stock and
Non-Voting Common Stock into or for which any securities owned by the Lead Investor (including the Warrants owned by the Lead Investor) are directly or indirectly convertible or exercisable, if any, and
assuming full conversion of the Series A Preferred Stock and Series B Preferred Stock) and the denominator of which is the total number of shares of Common Stock then outstanding (counting for such purposes all shares of Common Stock and Non-Voting Common Stock into or for which any securities owned by the Lead Investor (including the Warrants owned by the Lead Investor) are directly or indirectly convertible or exercisable, and assuming full
conversion of the Series A Preferred Stock and Series B Preferred Stock). Notwithstanding anything herein to the contrary, in no event shall the Lead Investor have the right to purchase New Securities hereunder to the extent such purchase would
result in the Lead Investor, together with any other person whose Series A Preferred Stock and Warrants would be aggregated with the Lead Investor’s Series A Preferred Stock and Warrants for purposes of any bank regulation or law, to
collectively be deemed to own, control or have the power to vote securities which (assuming, for this purpose only, full conversion and/or exercise of such securities by the Lead Investor) would represent more than 9.9% of a class of the Voting
Securities or more than 33.3% of the Company’s total equity outstanding (as defined in 12 C.F.R. § 225.2 and 12 C.F.R. § 225.34, respectively); provided that the Company shall permit the Lead Investor to purchase Series B Preferred
Stock or Non-Voting Common Stock to the extent that such limitation applies. 

  
 EXHIBIT L-3 

 (ii) Notice. In the event the Company proposes to offer or sell New Securities (the
“Offering”), it shall give the Lead Investor written notice of its intention, describing the price (or range of prices), anticipated amount of New Securities, timing and other terms upon which the Company proposes to offer
the same (including, in the case of a registered public offering and to the extent possible, a copy of the prospectus included in the registration statement filed with respect to such offering), no later than ten (10) Business Days, as the case
may be, after the initial filing of a registration statement with the Commission with respect to an underwritten public Offering or after the commencement of marketing with respect to a Rule 144A Offering or an Offering pursuant to
Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder. If the information contained in the notice constitutes material non-public information (as defined under the applicable
securities laws), the Company shall deliver such notice only to such individuals designated by the Lead Investor, and shall not communicate the information to anyone else acting on behalf of the Lead Investor without the consent of one of the
designated individuals. The Lead Investor shall have ten (10) Business Days from the date of receipt of such a notice (the “Response Period”) to notify the Company in writing that it intends to exercise its rights
provided in this Section 1(d) and as to the amount of New Securities the Lead Investor desires to purchase, up to the maximum amount calculated pursuant to this Section 1(d). Such notice shall
constitute a nonbinding indication of interest of the Lead Investor to purchase the amount of New Securities so specified at the price and other terms set forth in the Company’s notice to it. The failure of the Lead Investor to respond within
the Response Period shall be deemed to be a waiver of the Lead Investor’s rights under this Section 1(d) with respect to the Offering described in the applicable notice, which Offering shall, for purposes of this
Section 1(d)(ii), still be deemed to be the same Offering even if, following the date of delivery of the notice to the Lead Investor required under the terms of this Section 1(d), changes are made
to the terms of such Offering, so long as such changes do not (x) decrease the purchase price of any New Securities, (y) increase the amount or number of New Securities subject to the terms of the Offering other than pursuant to Rule 430A
under the Securities Act, or (z) enlarge, enhance or increase the rights or privileges to be granted to the holders of the New Securities in any material or meaningful manner. 

(iii) Purchase Mechanism. If the Lead Investor exercises its rights provided in this Section 1(d), the
closing of the purchase of the New Securities in connection with the closing of the Offering with respect to which such right has been exercised shall take place within 90 calendar days after the giving of notice of such exercise, which period of
time shall be extended for a maximum of 180 days in order to comply with applicable laws and regulations (including receipt of any applicable regulatory or shareholder approvals) and to satisfy any third party consent and approval requirements,
including those of any securities exchange. Notwithstanding anything to the contrary herein, the closing of the purchase of the New Securities by the Lead Investor will occur no earlier than the closing of the Offering triggering the right being
exercised by the Lead Investor. Each of the Company and the Lead Investor agrees to use its commercially reasonable efforts to secure any regulatory or shareholder approvals or other consents, and to comply with any law or regulation necessary in
connection with the offer, sale and purchase of, such New Securities. 
 (iv) Failure of Purchase. In the event the Lead Investor
fails to exercise its rights provided in this Section 1(d) within the Response Period or, if so exercised, the Lead Investor is unable to consummate such purchase within the time period specified in
Section 1(d)(iii) above because of its failure to obtain any required regulatory or shareholder consent or approval, the Company shall thereafter be entitled (during the period of 90 days following the conclusion of the
applicable period in Section 1(d)(iii)) to sell or enter into an agreement (pursuant to which the sale of the New Securities covered thereby shall be 

  
 EXHIBIT L-4 

 
consummated, if at all, within 90 days from the date of said agreement) to sell the New Securities not purchased pursuant to this Section 1(d) by the Lead Investor or
which the Lead Investor is unable to purchase because of such failure to obtain any such consent or approval, at a price and upon terms no more favorable in the aggregate to the purchasers of such New Securities than were specified in the
Company’s notice to the Lead Investor. Notwithstanding the foregoing, if such sale is subject to the receipt of any regulatory or shareholder approval or consent or the expiration of any waiting period, the time period during which such sale
may be consummated shall be extended until the expiration of five (5) Business Days after all such approvals or consents have been obtained or waiting periods expired, but in no event shall such time period exceed 180 days from the date of the
applicable agreement with respect to such sale. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said 90-day period (or sold and issued New Securities in accordance with the
foregoing within 90 days from the date of said agreement (as such period may be extended in the manner described above for a period not to exceed 180 days from the date of said agreement)), the Company shall not thereafter offer, issue or sell such
New Securities without first offering such New Securities to the Lead Investor in the manner provided above. 
 (v) Expedited Issuance;
Regulatory Directive. Notwithstanding the foregoing provisions of this Section 1(d), if a majority of the directors of the Board of Directors determines that the Company must issue equity or debt securities on an
expedited basis, then the Company may consummate the proposed issuance or sale of such securities (“Expedited Issuance”) and then comply with the provisions of this Section 1(d) provided that
(A) the purchaser(s) of such New Securities has consented in writing to the issuance of additional New Securities in accordance with the provisions of this Section 1(d)(v), and (B) the sale of any such additional
New Securities under this Section 1(d)(v) to the Lead Investor shall be consummated as promptly as is practicable but in any event no later than 90 days subsequent to the date on which the Company consummates the Expedited
Issuance under this Section 1(d)(v). Notwithstanding anything to the contrary herein, the provisions of this Section 1(d)(v) (other than as provided in subclause (B) of this
Section 1(d)(v)) shall not be applicable and the consent of the purchasers of such New Securities shall not be required in connection with any Expedited Issuance undertaken at the written direction of the applicable federal
regulator of the Company or the Bank. Notwithstanding anything to the contrary in this letter agreement, no rights of the Lead Investor under this letter agreement will be adversely affected solely as the result of the temporary dilution of its
percentage ownership of Common Stock due to an Expedited Issuance under this Section 1(d)(v); provided, however, that such rights may be adversely affected from and after such time, if any, that the Lead
Investor declines to purchase Common Stock offered to the Lead Investor under this Section 1(d). 
 (vi) Non-Cash Consideration. In the case of the offering of securities for a consideration in whole or in part other than cash, including securities acquired in exchange therefor (other than securities by their terms
so exchangeable), the consideration other than cash shall be deemed to be the fair value thereof as reasonably determined by the Board of Directors. 

(vii) Cooperation. The Company and the Lead Investor shall cooperate in good faith to facilitate the exercise of the Lead
Investor’s rights under this Section 1(d), including to secure any required approvals or consents. 

  
 EXHIBIT L-5 

 (viii) Assignment of Rights. The rights of the Lead Investor described in this
Section 1(d) shall be subject to the transfer, assignment and/or conveyance of said rights from the Lead Investor to any other person and/or entity that acquires Series A Preferred Stock and Warrants from the Lead Investor
or any of its Affiliates, but only if such transferee agrees in writing for the benefit of the Company to be bound by the terms of this letter agreement to the same extent as the Lead Investor (with a copy thereof to be furnished to the Company (any
such transferee shall be included in the term “Lead Investor”)). 
 2. Governance Matters. 

(a) So long as the Lead Investor maintains a Qualifying Ownership Interest, and only during such time as the Lead Investor reasonably
determines that it would not result in the Lead Investor being deemed to control the Company or the Bank within the meaning of applicable banking laws, upon the written request of the Lead Investor, the Company will, concurrently with the Closing or
thereafter in case of a later request, request the non-objection or approval of the Federal Reserve and the TDSML, to the extent required, for the appointment of the Board Representative (as defined below).
The Company further covenants and agrees that within five (5) days of receipt of the non-objection or approval of the Federal Reserve and the TDSML, the Board of Directors will cause the Board
Representative to be elected or appointed to the Board of Directors; provided that the Board Representative provides the Company with customary documentation required by director nominees in accordance with the Company’s practices. After
such appointment or election of a Board Representative, so long as the Lead Investor beneficially owns a Qualifying Ownership Interest, the Company will be required to recommend to its shareholders the election of the Board Representative at the
Company’s annual meeting. If the Lead Investor no longer beneficially owns a Qualifying Ownership Interest the Lead Investor will have no further rights under this Section 2, and, at the written request of the Board of
Directors, shall cause its Board Representative to resign from the Board of Directors as promptly as reasonably practicable (and in any event within thirty (30) days) thereafter. The Lead Investor shall promptly inform the Company if and when
it ceases to hold a Qualifying Ownership Interest in the Company. 
 (b) Any Board Representative (including any successor nominee) duly
selected in accordance with Section 2(a) shall, subject to applicable law, be among the Company’s and the Company’s Corporate Governance and Nominating Committee’s nominees to serve on the Board of Directors.
The Company shall use reasonable best efforts to have the Board Representative elected as a director of the Company by the shareholders of the Company and the Company shall solicit proxies for the Board Representative to the same extent as it does
for any of its other nominees to the Board of Directors. 
 (c) For only so long as the Lead Investor has the right to nominate a Board
Representative pursuant to Section 2(a), the Lead Investor shall have the power to designate the Board Representative’s replacement upon the death, resignation, retirement, disqualification or removal from office of
such director. The Board of Directors will use its reasonable best efforts to take all action required to fill the vacancy resulting therefrom with such person (including such person, subject to applicable law, being the Company’s and the
Company’s Corporate Governance and Nominating Committee’s nominee to serve on the Board of Directors, using reasonable best efforts to have such person elected as director of the Company by the shareholders of the Company and the Company
shall solicit proxies for such person to the same extent as it does for any of its other nominees to the Board of Directors). 

  
 EXHIBIT L-6 

 (d) Any Board Representative shall be entitled to the same compensation and same
indemnification in connection with his or her role as a director as the other members of the Board of Directors, and each Board Representative shall be entitled to reimbursement for documented, reasonable out-of-pocket expenses incurred in attending meetings of the Board of Directors or any committees thereof, to the same extent as the other members of the Board of Directors. The Company shall notify each
Board Representative of all regular and special meetings of the Board of Directors and shall notify each Board Representative of all regular and special meetings of any committee of the Board of Directors of which the Board Representative is a
member in accordance with the Company’s bylaws as then in effect. The Company shall provide each Board Representative with copies of all notices, minutes, consents and other materials provided to all other members of the Board of Directors
concurrently as such materials are provided to the other members. 
 (e) At all times when the Lead Investor has the right to a Board
Representative as provided in Section 2(a), upon the written request of the Lead Investor and in lieu of the Lead Investor’s nomination of a Board Representative, the Lead Investor may appoint one (1) individual
to attend all meetings of the Board of Directors and all committees thereof (the “Observer”) and pursuant to clause (f) hereof the board of directors of the Bank and all committees thereof, which individual shall be
reasonably acceptable to the Board of Directors (such approval not to be unreasonably withheld, conditioned or delayed); provided, the Observer executes and delivers to the Company and the Bank a customary confidentiality agreement for
service as a board observer and provided, further, that the appointment by the Lead Investor of an Observer shall not prevent the Lead Investor from nominating a Board Representative in lieu of an Observer at a future time. No Observer
shall have any right to vote on any matter presented to the Board of Directors or any committee thereof. The Company shall give each Observer written notice of each meeting thereof at the same time and in the same manner as the members of the Board
of Directors, shall provide each Observer with all written materials and other information (other than confidential supervisory information within the meaning of 12 C.F.R. Part 261) given to members of the Board of Directors at the same time such
materials and information are given to the members of the Board of Directors and shall permit each Observer to attend as an observer at all meetings thereof, and in the event the Company proposes to take any action by written consent in lieu of a
meeting, the Company shall give written notice thereof to such Observer prior to the effective date of such consent describing the nature and substance of such action and including the proposed text of such written consents; provided,
however, that the Company or the Board of Directors shall have the right to withhold any information and to exclude any Observer from any meeting or portion thereof (1) if doing so is, in the reasonable good faith judgment of the
Company, after consultation with counsel, advisable or necessary to protect the attorney-client privilege between the Company and counsel, or (2) if the Board of Directors reasonably determines in good faith, after consultation with counsel,
that attendance by such Observer would conflict with fiduciary requirements under applicable law. The Lead Investor covenants and agrees to hold all such information obtained from its Observer in confidence pursuant to the confidentiality and non-disclosure provisions of Section 6(c) of the Agreement and cause its Observer to execute a customary confidentiality agreement for board observers. If the Lead Investor and its Affiliates in the aggregate
no longer have a Qualifying Ownership Interest, the Lead Investor will have no further rights under this Section 2(e). 

(f) So long as the Lead Investor has the right to appoint a Board Representative pursuant to Section 2(a), the Lead
Investor shall have the right to either nominate the Board Representative as the “Bank Board Representative” to be elected or appointed as director to the board of directors of the Bank (the “Bank
Board”) or to appoint the Observer to attend all meetings of the Bank Board and all committees thereof as an observer (the “Bank Board Observer”); provided, that, the appointment by the Lead Investor of a
Bank Board Observer shall not prevent the Lead Investor from nominating a Bank Board Representative in lieu of a Bank 

  
 EXHIBIT L-7 

 
Board Observer at a future time; and provided, further, that the Bank Board Observer executes a customary confidentiality agreement for board observers. The obligations of the
Company otherwise with respect to, and the conditions on the appointment and, if applicable, directorship of, the Bank Board Representative and the Bank Board Observer shall be substantially the same as those with respect to or applicable to the
Board Representative and Observer, respectively. 
 (g) The Company acknowledges that the Board Representative and Bank Board Representative
may have certain rights to indemnification, advancement of expenses and/or insurance provided by the Lead Investor and/or certain of Lead Investor’s Affiliates (collectively, the “Lead Investor Indemnitors”). The Company
hereby agrees that with respect to a claim by the Board Representative or Bank Board Representative for indemnification arising out his or her service as a director of the Company or the Bank, as applicable, (1) the Board Representative or Bank
Board Representative shall be entitled to the same indemnification with his or her role as a director as the other members of the Board of Directors and (2) that the Company (or the Bank, as applicable) is the indemnitor of first resort (i.e.,
the Company’s (or the Bank’s, as applicable) obligations to the Board Representative or Bank Board Representative, as applicable, are primary and any obligation of the Lead Investor Indemnitors to advance expenses or to provide
indemnification for the same expenses or liabilities incurred by the Board Representative and Bank Board Representative are secondary). The Company further agrees that no advancement or payment by any Lead Investor Indemnitor on behalf of the Board
Representative or the Bank Board Representative with respect to any claim for which the Board Representative or the Bank Board Representative has sought indemnification from the Company or the Bank, as applicable, shall affect the foregoing and the
Lead Investor Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of the Board Representative and the Bank Board Representative against the Company and the
Bank. The Company agrees that the Lead Investor Indemnitors are express third party beneficiaries of this Section 2(g). 

(h) In addition to the foregoing, the Company will reimburse the Lead Investor and its Affiliates for all reasonable fees and expenses arising
out of or related to the Board Representative’s or the Observer’s travel to monthly meetings of the Board and the Bank Board. 

(i) Notwithstanding anything herein to the contrary, the rights provided by this Section 2 are personal to the Lead
Investor and in no event shall such rights be assignable. 
 (j) For purposes of this letter agreement, “Board
Representative” means such person designated by the Lead Investor to be elected or appointed to the Board of Directors and the Bank Board in accordance with all legal and governance requirements regarding service and election or
appointment as a director of the Company, or any individual designated as a replacement Board Representative pursuant to Section 2(c) hereof. 

3. Expenses. In the event (i) the Closing occurs, or (ii) the transactions contemplated by the Agreement are not consummated
other than due to a breach by the Lead Investor of any of its obligations under the Agreement, the Company will reimburse the Lead Investor for its reasonable and documented
out-of-pocket expenses incurred in connection with its due diligence and the preparation and negotiation of the Agreement and the transactions contemplated thereby
including, but not limited to, (a) the reasonable fees and expenses of counsel incurred by the Lead Investor and its Affiliates in connection with the transactions contemplated by the Agreement and (b) travel expenses; provided,
that, the Company shall not be obligated to reimburse the Lead Investor for amounts in excess of $100,000. In addition to the foregoing, (i) the Company shall 

  
 EXHIBIT L-8 

 
pay the full cost of the independent loan review obtained by the Company from Gateway Asset Management Company, LLC with, at the Lead Investor’s request, personnel of the Lead Investor
onsite during the review, and (ii) the fees and expenses referred to in the first sentence of Section 6 of the Registration Rights Agreement that are the Company’s responsibility shall include those expenses of the Lead Investor
actually and reasonably incurred, including without limitation, reasonable attorneys’ fees, not to exceed $50,000 in the aggregate. 

4. Assignment. This letter agreement shall not be assigned by operation of law or otherwise, except that the Lead Investor may assign
all or any portion of its rights under this letter agreement to any of its Affiliates or as expressly permitted in this letter agreement; provided, that, any such assignment shall not relieve the Lead Investor of any liability or other
obligation under this letter agreement. This letter agreement will be binding upon, and will inure to the benefit of and be enforceable by, the parties hereto and their respective successors and assigns. 

5. Governing Law. This letter agreement shall be governed by, construed and enforced in accordance with the laws of the State of
Delaware, without giving effect to conflicts of law principles or other principles that would require the application of any other law. The parties hereby irrevocably and unconditionally consent to submit to the exclusive jurisdiction of the state
and federal courts located in the State of Delaware for any actions, suits or proceedings arising out of or relating to this letter agreement and the transactions contemplated hereby. 

6. Severability. If any provision of this letter agreement or the application thereof to any Person or circumstances is determined by a
court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances other than those as to which it has been held invalid or unenforceable, shall
remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such
determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable substitute provision to effect the original intent of the parties. 

7. Counterparts and Facsimiles. For the convenience of the parties hereto, this letter agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this letter agreement may be delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file and such signature will have the same force and effect as if such facsimile or electronic page were an original thereof. 

8. Amendment; Waiver. No amendment or waiver of any provision of this letter agreement will be effective with respect to any party
unless made in writing and signed by a duly authorized representative of such party. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. No waiver of any party to this letter agreement, as the case may be, will be effective unless it is in a writing signed by a duly
authorized representative of the waiving party that makes express reference to the provision or provisions subject to such waiver. 

  
 EXHIBIT L-9 

 9. Ratification. Except as otherwise expressly provided by this letter agreement, all
of the terms and conditions of the Agreement are hereby ratified and shall remain unchanged and continue in full force and effect. 

[Signature Page Follows] 

  
 EXHIBIT L-10 

 
			
	THIRD COAST BANCSHARES, INC.
		
	By:	 	
                 

	Name:	 	
	Title:	 	

  

			
	Agreed and acknowledged as of the date first above written:
	
	CASTLE CREEK CAPITAL PARTNERS VIII, LP
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Letter Agreement]

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