To find the volume of a rectangular pyramid (or square pyramid in this case), you can use the formula:
\[ V = \frac{1}{3} \times \text{Base Area} \times \text{Height} \]
Given the side length of the base is 12 meters, the area of the base (which is a square) can be calculated as:
\[ \text{Base Area} = \text{side length}^2 = 12^2 = 144 , \text{m}^2 \]
The perpendicular height of the pyramid is given as 10 meters.
Now plug these values into the volume formula:
\[ V = \frac{1}{3} \times 144 , \text{m}^2 \times 10 , \text{m} = \frac{1}{3} \times 1440 , \text{m}^3 = 480 , \text{m}^3 \]
Therefore, the volume of the rectangular pyramid is:
\[ \boxed{480 , \text{m}^3} \]