Office and Secretarial Services Agreement between Coastal Bancshares Acquisition Corp. and Coastal Acquisition, LLC (August 3, 2004)

Summary

Coastal Bancshares Acquisition Corp. and Coastal Acquisition, LLC have agreed that, starting from the effective date of the company's IPO registration, Coastal Acquisition, LLC will provide office space and secretarial services to the company at a specified Houston address. In return, the company will pay $7,500 per month. This arrangement continues until the company completes a business combination, or for up to 18–24 months depending on the company's progress toward such a combination.

EX-10.11 13 a2143830zex-10_11.htm EX-10.11
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Exhibit 10.11

COASTAL BANCSHARES ACQUISITION CORP.

August 3, 2004

Coastal Acquisition, LLC
9821 Katy Freeway, Suite 500
Houston, Texas 77024

Gentlemen:

        This letter will confirm our agreement that, commencing on the effective date ("Effective Date") of the registration statement for the initial public offering ("IPO") of the securities of Coastal Bancshares Acquisition Corp. (the "Company") and continuing (i) until the consummation by the Company of a "Business Combination" (as described in the Company's IPO prospectus), (ii) 18 months from commencement of the IPO if the Company does not effect a business combination, or (iii) 24 months from the consummation of the IPO if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months of commencement of the IPO and the Company has not effected a business combination, Coastal Acquisition LLC shall make available to the Company certain office and secretarial services as may be required by the Company from time to time, situated at 9821 Katy Freeway, Suite 500, Houston, Texas 77024. In exchange therefore, the Company shall pay Coastal Acquisition LLC the sum of $7,500 per month on the Effective Date and continuing monthly thereafter.

    Very truly yours,

 

 

COASTAL BANCSHARES ACQUISITION CORP.

 

 

By:

/s/  W. DONALD BRUNSON      
    Name: W. Donald Brunson
    Title: President

AGREED TO AND ACCEPTED BY:

COASTAL ACQUISITION, LLC


By:

 

/s/  CARY GROSSMAN      

 

 
Name:   Cary Grossman    
Title:   President    



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    Exhibit 10.11