Exhibit 10.2

EXECUTION COPY

AMENDMENT NO. 1

AMENDMENT NO. 1 dated as of June 24, 2013 to the Credit Agreement referred to
below, among TECO FINANCE, INC., a Florida corporation (the “Borrower”), TECO
ENERGY, INC., a Florida corporation (the “Company,” and, together with the
Borrower, the “Obligors”), each of the Lenders identified under the caption
“LENDERS” on the signature pages hereto and JPMORGAN CHASE BANK, N.A., as
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

The Obligors, the Lenders party thereto (individually, a “Lender” and,
collectively, the “Lenders”) and the Administrative Agent are parties to a Third
Amended and Restated Credit Agreement dated as of October 25, 2011 (as amended,
the “Credit Agreement”). The Obligors and the Required Lenders wish to amend the
Credit Agreement in certain respects, and accordingly, the parties hereto hereby
agree as follows:

Section 1. Definitions. Capitalized terms used in this Amendment No. 1 and not
otherwise defined are used herein as defined in the Credit Agreement.

Section 2. Amendments. Subject to the satisfaction of the conditions precedent
specified in Section 4 hereof, but effective as of the date hereof, the Credit
Agreement shall be amended as follows:

2.01. References in the Credit Agreement (including references to the Credit
Agreement as amended hereby) to “this Agreement” (and indirect references such
as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be
references to the Credit Agreement as amended hereby.

2.02. Section 1.1 of the Credit Agreement is hereby amended to replace the
definition of “Index Debt” in its entirety with the following:

“Index Debt” means senior, unsecured, long-term indebtedness for borrowed money
of Company that is not guaranteed by any other Person or subject to any other
credit enhancement. If the Company no longer has a senior unsecured debt rating,
Index Debt means senior, unsecured, long-term indebtedness for borrowed money of
Borrower guaranteed by Company but not otherwise guaranteed by any other Person
or subject to any other credit enhancement.

2.03. Section 1.1 of the Credit Agreement is hereby further amended to insert in
alphabetical order the following additional definitions:

“Acquisition” means the acquisition by the Company of the stock of New Mexico
Gas Intermediate, Inc. pursuant to a Stock Purchase Agreement dated as of
May 25, 2013, among the Company, New Mexico Gas Intermediate, Inc. and
Continental Energy Systems LLC.

“OFAC” means the Office of Foreign Assets Control of the United States
Department of the Treasury.

 

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“Permitted Liens” means (a) Liens existing on any property or asset prior to the
acquisition thereof by any Significant Subsidiary or existing on any property or
assets of any Person that becomes a Significant Subsidiary after the date hereof
prior to the time such Person becomes a Significant Subsidiary, provided that
(i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Significant Subsidiary, as the case may
be, and (ii) such Lien shall not apply to any other property or assets of the
Obligor or any Significant Subsidiary but the Significant Subsidiary may secure
additional obligations with a lien on assets subject to existing liens; and
(b) Liens securing first mortgage bonds issued by any Significant Subsidiary the
rates or charges of which are regulated by FERC or any state governmental
authority, provided that the aggregate principal amount of such first mortgage
bonds of any such Significant Subsidiary do not exceed 66 2/3% of the net value
of plant, property and equipment of such Significant Subsidiary.

“Sanctions” has the meaning given in Section 4.15.2(a).

2.04. Article IV of the Credit Agreement is hereby amended by inserting the
following new Section 4.15 immediately after Section 4.14 therein.

4.15 FCPA; OFAC; Anti-Money Laundering.

4.15.1 No Unlawful Contributions or Other Payments. Neither Company nor any of
its Subsidiaries, nor, to Company’s knowledge, any director, officer, agent,
employee or Affiliate of Company or any of its Subsidiaries has taken or will
take any action, directly or indirectly, that would result in a violation by
such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the
rules and regulations thereunder (the “FCPA”), including, without limitation,
making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization
of the payment of any money, or other property, gift, promise to pay or
authorization of the giving of anything of value to any “foreign official” (as
such term is defined in the FCPA) or any foreign political party or official
thereof or any candidate for foreign political office.

4.15.2 OFAC.

(a) Neither Company nor any of its Subsidiaries nor, to Company’s knowledge, any
officer or director of Company or any of its Subsidiaries, nor any agent,
employee or Affiliate of Company or any of its Subsidiaries is (i) a Person that
is, or is owned or controlled by a Person that is currently the subject of any
U.S. sanctions administered by OFAC (“Sanctions”), nor (ii) located, organized
or resident in a country or territory that is the subject of Sanctions
(including, without limitation, Cuba, Iran, North Korea, Sudan and Syria).

(b) Company will not, directly or indirectly, use the proceeds of the Loans, or
lend, contribute or otherwise make available such proceeds to any Subsidiary,
joint venture partner or other Person to fund any activities or business of or
with any Person or in any country or territory that, at the time of such
funding, is the subject of Sanctions.

 

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4.15.3 No Conflict with Money Laundering Laws. To Company’s knowledge, the
operations of Company and its Subsidiaries are and have been conducted at all
times in material compliance with (i) applicable financial recordkeeping and
reporting requirements of the Currency and Foreign Transactions Reporting Act of
1970, as amended, and the rules and regulations promulgated thereunder, (ii) the
money laundering statutes of all jurisdictions where Company and its
Subsidiaries conduct business, and the rules and regulations thereunder and
(iii) any related or similar rules, regulations or guidelines issued,
administered or enforced by any court, arbitrator, regulatory body,
administrative agency, governmental body or other authority or agency
(collectively, the “Money Laundering Laws”). No action, suit or proceeding by or
before any court, arbitrator, regulatory body, administrative agency,
governmental body or other authority or agency involving Company or any of its
Subsidiaries with respect to the Money Laundering Laws is pending or, to
Company’s knowledge, threatened.

2.05. Section 5.3.1 of the Credit Agreement is hereby amended by replacing the
words “Company’s ratings” in clause (ii) of the proviso thereof with the words
“the ratings”.

2.06. Section 5.3.3 of the Credit Agreement is hereby amended in its entirety to
read as follows:

5.3.3 Except as set forth on Schedule 5.3.3 and except for Permitted Liens, such
Obligor shall not, and shall not permit any Significant Subsidiary to, mortgage,
pledge or encumber all or substantially all of such Obligor’s or such
Significant Subsidiary’s assets; provided that Company and/or any Significant
Subsidiary may enter into limited recourse project financing transactions
(including in the form of synthetic leases) in the ordinary course of its
business.

2.07. Section 5.7 of the Credit Agreement is hereby amended by inserting the
words “, Sanctions administered by OFAC” immediately after the words
“Environmental Laws” therein.

2.08. Section 5.10.5 of the Credit Agreement is hereby amended in its entirety
to read as follows:

5.10.5 Either Obligor being placed on watch or review for possible rating
down-grade by S&P or Moody’s, or any negative change, from the date hereof, from
the rating given to the Index Debt by either S&P or Moody’s; and

2.09. Section 5.11 of the Credit Agreement is hereby amended in its entirety to
read as follows:

Company shall maintain, as of the last day of each fiscal quarter (commencing
with the fiscal quarter ended September 30, 2011), a ratio of Total Debt to
Capitalization, for such fiscal quarter then ended, of less than or equal to
0.65 to 1.00 or, with respect to the four fiscal quarters commencing with the
fiscal quarter in which the Acquisition closes, 0.70 to 1.00.

 

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Section 3. Representations and Warranties. Each Obligor (as to itself and its
Subsidiaries) represents and warrants to the Lenders that (a) its
representations and warranties set forth in Article IV of the Credit Agreement
are true and complete on the date hereof as if made on and as of the date hereof
and as if each reference in said Article IV to “this Agreement” included
reference to this Amendment No. 1 (unless such representation and warranty
relates solely to another time, in which event such representation or warranty
is true and correct as of such other time) and (b) no Event of Default or
Inchoate Default shall have occurred and be continuing.

Section 4. Conditions Precedent to Effectiveness. The amendments set forth in
Section 2 hereof shall become effective, as of the date hereof, upon receipt by
the Administrative Agent of one or more counterparts of this Amendment No. 1
executed by the Obligors and the Required Lenders.

Section 5. Confirmation of Guarantee and Pledge Agreement. The Company hereby
confirms and ratifies all of its obligations under the Credit Facility Documents
to which it is a party, including its obligations as a guarantor under
Article IX of the Credit Agreement as amended hereby.

Section 6. Miscellaneous. Except as herein provided, the Credit Agreement shall
remain unchanged and in full force and effect. This Amendment No. 1 may be
executed in any number of counterparts, all of which taken together shall
constitute one and the same agreement and any of the parties hereto may execute
this Amendment No. 1 by signing any such counterpart. This Amendment No. 1 shall
be governed by, and construed in accordance with, the law of the State of New
York.

Section 7. Loan Document. The execution, delivery and effectiveness of this
Amendment No. 1 shall not, except as expressly provided herein, operate as a
waiver of any right, power or remedy of any Lender or the Administrative Agent
under any of the Loan Documents, nor constitute a waiver of any provision of any
of the Loan Documents. On and after the effectiveness of this Amendment No. 1,
this Amendment No. 1 shall for all purposes constitute a Loan Document.

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be
duly executed and delivered as of the day and year first above written.

 

TECO FINANCE, INC. By:   /s/ Kim M. Caruso Name:   Kim M. Caruso Title:  
Treasurer

 

TECO ENERGY, INC. By:   /s/ Kim M. Caruso Name:   Kim M. Caruso Title:  
Treasurer

Signature page for Amendment No. 1

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LENDERS JPMORGAN CHASE BANK, N.A. By:   /s/ Peter Christensen   Name: Peter
Christensen   Title: Vice President

 

Signature page for Amendment No. 1 (continued)

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CITIBANK, N.A. By:   /s/ D. Scott McMurtry Name:   D. Scott McMurtry Title:  
Vice President

 

Signature page for Amendment No. 1 (continued)

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MORGAN STANLEY BANK, N.A. By:   /s/ John Durland Name:   John Durland Title:  
Authorized Signatory

 

Signature page for Amendment No. 1 (continued)

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SUNTRUST BANK By:   /s/ Andrew Johnson Name:   Andrew Johnson Title:   Director

 

Signature page for Amendment No. 1 (continued)

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THE BANK OF NEW YORK MELLON By:   /s/ Richard K. Fronapfel, Jr. Name:   Richard
K. Fronapfel, Jr. Title:   Vice President

 

Signature page for Amendment No. 1 (continued)

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THE BANK OF NOVA SCOTIA By:   /s/ Thane Rattew Name:   Thane Rattew Title:  
Managing Director

 

Signature page for Amendment No. 1 (continued)

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THE NORTHERN TRUST COMPANY By:   /s/ Patrick Cowan Name:   Patrick Cowan Title:
  Vice President

 

Signature page for Amendment No. 1 (continued)