Document:

<PAGE>

                                                                    Exhibit 10.1

                               TECO ENERGY GROUP
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                         1998 Amendment and Restatement
                         ------------------------------

                                    PART ONE
                              GENERAL INFORMATION

SECTION 1.  PURPOSE AND EFFECTIVE DATE

     The purpose of this plan is to provide key executives of the Company and
its subsidiaries with additional retirement income by supplementing the
retirement benefits provided under the retirement plan.  The effective date of
this plan as herein amended and restated is July 1, 1998, except that the
changes in the definition of change in control in Section 3.4, the references in
Sections 5.2 and 5.3 to termination of employment in contemplation of a change
in control, and the related definitions in Sections 3.3, 3.7, 3.9, 3.10 and
3.14, are effective July 15, 1998.

SECTION 2.  DEFINITIONS

     This section contains definitions of some terms used in the plan.

     2.1  Board means the Board of Directors of the Company.
          -----

     2.2  Committee means the retirement plan committee as constituted under the
          ---------
retirement plan.

     2.3  Company means TECO Energy, Inc.  and any successor to all or a major
          -------
portion of its assets or business which assumes the obligations of the Company
under this plan.

     2.4  Employer has the same meaning as in the retirement plan.
          --------

     2.5  Participant means each employee of an employer who has satisfied the
          -----------
eligibility requirements set forth in Section 4 or Section 10 hereof.

     2.6  Plan means the TECO Energy Group Supplemental Executive Retirement
          ----
Plan, as set forth in this plan instrument, and as it may be amended from time
to time.

     2.7  Retirement plan means the TECO Energy Group Retirement Plan, as
          ---------------
amended from time to time.
<PAGE>

                                   PART TWO

                   PARTICIPATION AND BENEFITS FOR EMPLOYEES
            OTHER THAN FORMER EMPLOYEES OF PEOPLES GAS SYSTEM, INC.

SECTION 3.  DEFINITIONS

     This section contains definitions of terms used in this part of the plan
that are not defined in Section 2.

     3.1  Annual earnings has the same meaning as in the retirement plan, except
          ---------------
that the same will be determined without regard to (a) any dollar limitation on
such annual earnings that may be imposed under the retirement plan or (b) any
reduction in taxable income as a result of voluntary salary reduction deferrals
under the TECO Energy Group Retirement Savings Excess Benefit Plan.

     3.2  Average annual earnings of a participant as of his retirement date
          -----------------------
means the average of his annual earnings during whichever of the following
periods yields the highest average: (a) the 36 consecutive months of active
employment preceding the retirement date (or all months of employment if less
than 36), or (b) any three consecutive calendar years out of the five calendar
years preceding the retirement date.  Bonuses are included as compensation for
the period in which paid, provided that if more than three regular annual
bonuses are paid in any 36 consecutive month period, only the largest three
bonuses will be counted.

     3.3  Cause means (a) the willful and continued failure by a participant to
          -----
substantially perform his duties with the Company (other than any such failure
resulting from the participant's incapacity due to physical or mental illness or
any such actual or anticipated failure after the issuance of a notice of
termination by the participant for good reason) after a written demand for
substantial performance is delivered to the participant by the board, which
demand specifically identifies the manner in which the board believes that the
participant has not substantially performed his duties, or (b) the willful
engaging by the participant in conduct which is demonstrably and materially
injurious to the Company, monetarily or otherwise.  For purposes of this Section
3.3, no act, or failure to act, on the participant's part will be deemed
"willful" unless done, or omitted to be done, by the participant not in good
faith and without reasonable belief that the participant's action or omission
was in the best interest of the Company.  Notwithstanding the foregoing, the
participant will not be deemed to have been terminated for cause unless and
until there shall have been delivered to the participant a copy of a resolution
duly adopted by the affirmative vote of not less than three-quarters (3/4) of
the entire membership of the board at a meeting of the board called and held for
such purpose (after reasonable notice to the participant and an opportunity for
the participant, together with the participant's counsel, to be heard before the
board), finding that in the good faith opinion of the board the participant was
guilty of conduct set forth above in this Section 3.3 and specifying the
particulars thereof in detail.

     3.4  Change in control of the company means a change in control of a nature
          --------------------------------
that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A promulgated under the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), whether or not the Company is in fact required to
comply therewith; provided, that, without limitation, such a change in control
shall be deemed to have occurred if:

          (a)  any "person" (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act), other than the Company, any trustee or other fiduciary
holding securities under an employee benefit plan of the Company or a
corporation owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company,
is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing
30% or more of the combined voting power of the Company's then outstanding
securities;

          (b)  during any period of 24 consecutive months (not including any
period prior to the effective date of this plan), individuals who at the
beginning of such period constitute the board and any new director (other than a
director designated by a person who has entered into an agreement with the
Company to effect a transaction described in paragraphs (a), (c) or (d)

                                       2
<PAGE>

of this Section 3.4) whose election by the board or nomination for election by
the stockholders of the Company was approved by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors at the
beginning of such period or whose election or nomination for election was
previously so approved, cease for any reason to constitute a majority thereof;

          (c)  there is consummated a merger or consolidation of the Company or
any direct or indirect subsidiary of the Company with any other corporation,
other than (i) a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) at least 65% of the combined voting
securities of the Company or such surviving entity or any parent thereof
outstanding immediately after such merger or consolidation or (ii) a merger or
consolidation effected to implement a recapitalization of the Company (or
similar transaction) in which no "person" (as defined in this Section 3.4)
acquires 30% or more of the combined voting power of the Company's then
outstanding securities; or

          (d) the stockholders of the Company approve a plan of complete
liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all of the Company's assets.

     3.5  Disability income plan means the TECO Energy Group Disability Income
          ----------------------
Plan, as amended from time to time.

     3.6  Early retirement age is exactly ten years before the age specified in
          --------------------
the table in Section 3.8.

     3.7  Good reason means the occurrence (without the participant's express
          -----------
written consent) prior to a change in control of the Company under the
circumstances described in Section 3.14 hereof of any one of the following acts
by the Company, or failures by the Company to act:

          (a) the assignment to the participant of any duties inconsistent
(except in the nature of a promotion) with the position in the Company that the
participant held immediately prior to the potential change in control of the
Company or a substantial adverse alteration in the nature or status of the
participant's position or responsibilities or the conditions of the
participant's employment from those in effect immediately prior to the potential
change in control of the Company;

          (b) a reduction by the Company in the participant's annual base salary
as in effect on the effective date of this Section 3.7, or such higher amount as
is in effect from time to time;

          (c) the Company's requiring the participant to be based more than
twenty-five (25) miles from the Company's offices at which the participant was
principally employed immediately prior to the date of the potential change in
control of the Company except for required travel on the Company's business to
an extent substantially consistent with the participant's business travel
obligations on the effective date of this Section 3.7 or, if later, on the date
the participant first becomes eligible for this plan;

          (d) the failure by the Company to pay to the participant any portion
of the participant's current compensation or compensation under any deferred
compensation program of the Company, within seven (7) days of the date such
compensation is due;

          (e) the failure by the Company to continue in effect any material
compensation or benefit plan in which the participant participates immediately
prior to the change in control of the Company unless an equitable arrangement
(embodied in an ongoing substitute or alternative plan) has been made with
respect to such plan, or the failure by the Company to continue the
participant's participation therein (or in such substitute or alternative plan)
on a basis not materially less favorable, both in terms of the amount of
benefits provided and the level of the participant's participation relative to
other participants, than existed at the time of the potential change in control;

          (f) the failure by the Company to continue to provide the participant
with benefits substantially similar to those enjoyed by the participant under
any of the Company's

                                       3
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pension, life insurance, medical, health and accident, or disability plans in
which the participant was participating at the time of the potential change in
control of the Company, the taking of any action by the Company which would
directly or indirectly materially reduce any of such benefits or deprive the
participant of any material fringe benefit enjoyed by the participant at the
time of the potential change in control of the Company, or the failure by the
Company to provide the participant with the number of paid vacation days to
which the participant is entitled on the basis of the participant's years of
service with the Company in accordance with the Company's normal vacation policy
in effect at the time of the potential change in control of the Company;

          (g) the failure of the Company to obtain a satisfactory agreement from
any successor to assume and agree to perform the terms of this plan; or

          (h) any purported termination of the participant's employment which is
not effected pursuant to a notice of termination satisfying the requirements of
all other agreements between the Company and the participant, which purported
termination shall not be effective for purposes of this plan.

The participant's right to treat termination of employment as being within this
Section 3.7 will not be affected by the participant's incapacity due to physical
or mental illness.  The participant's continued employment will not constitute
consent to, or a waiver of rights with respect to, any circumstance constituting
good reason hereunder.

     3.8  Normal retirement age for purposes of this plan is exactly three years
          ---------------------
before the age specified in the following table:

      Calendar year
        of birth                    Specified age
        --------                    -------------

        before 1938                65 exactly
               1938                65 and 2 months
               1939                65 and 4 months
               1940                65 and 6 months
               1941                65 and 8 months
               1942                65 and 10 months
  1943 through 1954                66 exactly
               1955                66 and 2 months
               1956                66 and 4 months
               1957                66 and 6 months
               1958                66 and 8 months
               1959                66 and 10 months
         after 1959                67 exactly

     3.9  Potential change in control of the Company will be deemed to have
          ------------------------------------------
occurred if:

          (a) the Company enters into an agreement, the consummation of which
would result in the occurrence of a change in control of the Company;

          (b) any person (as defined in Section 3.4), including the Company,
publicly announces an intention to take or consider taking actions which if
consummated would constitute a change in control of the Company;

          (c) any person (as defined in Section 3.4), other than the Company,
any trustee or other fiduciary holding securities under an employee benefit plan
of the Company or a corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company (i) is or becomes the beneficial owner, (ii)
discloses directly or indirectly to the Company or publicly a plan or intention
to become the beneficial owner, or (iii) makes a filing under the Hart-Scott-
Rodino Antitrust Improvements Act of 1976, as amended, with respect to
securities to become the beneficial owner, directly or indirectly, of securities
representing 9.9% or more of the combined voting power of the outstanding voting
securities of the Company; or

          (d) the Board adopts a resolution to the effect that, for purposes of
this plan, a potential change in control of the Company has occurred.

                                       4
<PAGE>

     3.10 Retirement means a participant's termination of employment from an
          ----------
employer (a) on or after (i) he has reached his normal retirement age, (ii) he
has reached his early retirement age and completed five years of service, or
(iii) a change in control of the Company has occurred, or (b) in contemplation
of a change in control of the Company.

     3.11 Service has the same meaning as "plan service" in the retirement plan.
          -------

     3.12 Social Security benefit of a participant as of his retirement date
          -----------------------
(the "computation date") means the primary insurance amount to which he is or
would be entitled, payable under Title II of the Social Security Act as in
effect on such date, based on the assumptions: (a) that no changes in the
benefit levels payable or the wage base under Title II occur after the
computation date; (b) if the computation date falls on or after the date when he
reaches his early retirement age and before the date when he reaches his normal
retirement age, that his annual earnings during the calendar year in which the
computation date falls and any subsequent calendar year before the year in which
his normal retirement age falls is zero; (c) if the computation date falls
before the date when he reaches his early retirement age, that his annual
earnings during the calendar year in which the computation date falls and during
each subsequent calendar year before the calendar year in which his normal
retirement age falls is equal to his rate of annual earnings on the computation
date; (d) that payment of his primary insurance amount begins for the month
after he reaches normal retirement age, or his retirement date if later, without
reduction or delay because of future gainful employment or delay in applying for
benefits; and (e) that the participant's earnings for calendar years before the
calendar year in which the computation date falls will be determined using his
actual earnings history if available, and otherwise by applying a six percent
retrospective salary scale to the employee's rate of annual earnings in effect
on the computation date. The social security benefit of a participant who
retires after the age specified in the table in Section 3.8 will include any
delayed retirement credit.

     3.13 Survivor income plan means the TECO Energy Group Survivor Income Plan,
          --------------------
as amended from time to time.

     3.14 Termination of employment in contemplation of a change in control of
          --------------------------------------------------------------------
the Company means termination of a participant's employment by the Company
-----------
without cause or by the participant with good reason, if (a) the participant's
employment is terminated by the Company without cause prior to a change in
control of the Company (whether or not such a change in control ever occurs) and
such termination was at the request or direction of a "person" (as such term is
used in Section 13(d) and 14(d) of the Exchange Act) who has entered into an
agreement with the Company the consummation of which would constitute a change
in control of the Company, (b) the participant terminates his employment for
good reason prior to a change in control of the Company (whether or not such a
change in control ever occurs) and the circumstance or event which constitutes
good reason occurs at the request or direction of such person, or (c) the
participant's employment is terminated by the Company without cause or by the
participant for good reason and such termination or the circumstance or event
which constitutes good reason is otherwise in connection with or in anticipation
of a change in control of the Company (whether or not such a change in control
ever occurs).

SECTION 4.  PARTICIPATION

     Any active employee of an employer who is elected as an officer by such
employer's board of directors is covered by this part of the plan and is
eligible to receive benefits hereunder if he falls in one of the following
categories, but only if he is not covered by part three of the plan or by
another supplemental executive retirement plan or arrangement of the Company or
any employer:

          (a)  he is in salary grade level five or above, and his participation
hereunder is requested by the Vice President - Human Resources and approved by
the Chief Executive Officer of the Company; or

          (b)  he is in a salary grade level below five, and his participation
hereunder is requested by the Vice President - Human Resources and approved by
the Chief Executive Officer of the Company and the Compensation Committee of the
Board.

                                       5
<PAGE>

The provisions of this part two of the plan apply only to participants covered
by part two.  References in this part two to "participant" and "eligible"
individuals include only people who are covered by part two.

SECTION 5.  RETIREMENT BENEFITS

     5.1    Retirement at or after normal retirement age.  Subject to the
            --------------------------------------------
reductions described in Section 8.1 below, each eligible officer who retires on
or after attaining normal retirement age will receive a supplemental monthly
pension equal to one-twelfth of the following: three percent of his average
annual earnings multiplied by his years of service up to a maximum of 20 years.
A participant's retirement benefit hereunder will be calculated using his years
of service and average annual earnings as of the actual date of his retirement.

     5.2    Retirement after early retirement age but before normal retirement
            ------------------------------------------------------------------
age.  A participant who retires on or after attaining early retirement age but
before attaining normal retirement age and who has completed five years of
service will receive a supplemental monthly pension equal to one-twelfth of the
amount determined using the formula in Section 5.1 above, multiplied by an early
retirement factor determined under the following table:

<TABLE>
<CAPTION>
           Years by which the                Early
       start of payments precedes          retirement
         normal retirement age*              factor
         ---------------------               ------
       <S>                                 <C>
                  7                            .65
                  6                            .70
                  5                            .75
                  4                            .80
                  3                            .85
                  2                            .90
                  1                            .95
</TABLE>

     *Interpolate for completed months.

     Notwithstanding the foregoing, in the event of a change in control of the
Company and the subsequent retirement of a participant on or after attaining
early retirement age but before normal retirement age, or in the event of
termination of a participant's employment with the Company on or after attaining
early retirement age but before normal retirement age in contemplation of a
change in control of the Company, the participant will receive the benefits
provided under this Section 5.2 whether or not he has completed five years of
service.

                                       6
<PAGE>

     5.3  Effect of change in control prior to attainment of early retirement
          -------------------------------------------------------------------
age. In the event of a change in control of the Company prior to the attainment
---
of early retirement age by any participant, or in the event of termination of a
participant's employment with the Company prior to the attainment of early
retirement age by the participant in contemplation of a change in control of the
Company, such participant will receive upon his retirement a supplemental
monthly pension equal to one-twelfth of the amount determined using the formula
in Section 5.1 above, multiplied by an early retirement factor determined under
the following table:

<TABLE>
<CAPTION>
         Years by which the                       Early
     start of payments precedes                retirement
       normal retirement age*                    factor
       ---------------------                     ------
     <S>                                       <C>
               30                                  .10
               29                                  .11
               28                                  .12
               27                                  .13
               26                                  .14
               25                                  .15
               24                                  .16
               23                                  .17
               22                                  .18
               21                                  .20
               20                                  .21
               19                                  .23
               18                                  .25
               17                                  .27
               16                                  .30
               15                                  .32
               14                                  .35
               13                                  .38
               12                                  .41
               11                                  .45
               10                                  .49
               9                                   .54
               8                                   .59
</TABLE>

     *Interpolate for completed months.

     5.4  Form of Payment.
          ---------------

          (a)  Normal form of retirement benefits. The normal form of retirement
               ----------------------------------
benefit payable to a participant under the plan is a life annuity.  Benefits
payable in the normal form will begin on the first day of the month coinciding
with or next following the date of a participant's retirement.

          (b)  Optional lump sum benefit. In lieu of the normal form of benefit,
               -------------------------
a participant may elect to receive payment of his benefit in the form of a
commuted single sum payment that is the actuarial equivalent of the normal form
of benefit (including the value of the post-retirement surviving spouse benefit
under Section 6.2(c)).  Actuarial equivalence will be based on the actuarial
assumptions specified from time to time in the retirement plan for lump sum
payments.  A participant's election to receive a lump sum payment will be
effective only with respect to a retirement occurring at least 12 months after
the date the participant submits the election, provided that elections submitted
on or before May 1, 1997 will be immediately effective.

     5.5  Enhanced benefits for certain retirees. Certain retirees have been
          --------------------------------------
provided enhanced retirement benefits as set forth in Schedule A hereto.

                                       7
<PAGE>

SECTION 6.  SURVIVING SPOUSE BENEFIT

     6.1  Eligibility.  The surviving spouse of a deceased participant will
          -----------
receive the surviving spouse benefit if:

          (a)  the participant dies (i) during employment with an employer on or
after he has completed at least five years of service and his combined age and
years of service total 50 or more, or (ii) after retirement; and

          (b)  the spouse and the deceased participant were married to each
other for at least the 12 months preceding the participant's date of death and,
in the case of a participant who dies after retirement, were married to each
other on the participant's date of retirement.

     6.2  Amount of surviving spouse benefit.  Subject to the reductions
          ----------------------------------
described in Section 8.2 below, the benefit provided under the plan to the
surviving spouse of a participant will be determined as follows:

          (a)  Pre-retirement before normal retirement age.  If a participant
               -------------------------------------------
dies during employment with an employer and before his normal retirement age,
his surviving spouse will receive a monthly survivor income payment equal to 50%
percent of the participant's monthly projected retirement benefit.  A
participant's monthly projected retirement benefit is the monthly benefit he
would have received at normal retirement age under Section 5.1 calculated using
the number of years of service he would have had if he had continued in
employment with an employer until normal retirement age and his average annual
earnings determined as of his date of death.

          (b)  Pre-retirement on or after normal retirement age.  If the
               ------------------------------------------------
participant dies during employment with an employer on or after his normal
retirement age, his surviving spouse will receive a monthly survivor income
payment equal to 50 percent of his monthly retirement benefit earned under
Section 5.1 using his number of years of service and his average annual earnings
as of his date of death.

          (c)  Post-retirement.  If a participant dies on or after his date of
               ---------------
retirement, his surviving spouse will receive a monthly survivor income payment
equal to 50 percent of the monthly benefit payment he was receiving at his death
(or would have received if he had survived until the first payment date).

     6.3  Form and time of surviving spouse benefit.  Surviving spouse benefits
          -----------------------------------------
under this Section 6 will be payable only in the form of a life annuity to the
surviving spouse.  Benefit payments will begin on the first day of the month on
or after the date of the participant's death.

     6.4  Death benefit where lump sum paid.  If a participant received a lump
          ---------------------------------
sum payment of his benefit under Section 5.4(b), no surviving spouse benefit or
other death benefit will be payable under the plan to any person.

                                       8
<PAGE>

SECTION 7.  DISABILITY

     7.1  Service during disability.  A participant who suffers a total
          -------------------------
disability, as defined in the disability income plan, will continue to be
credited with service as if he were actively employed by an employer during his
period of total disability.  If such a participant does not return to active
service with an employer, his benefit under Section 5 will be calculated using
his average annual earnings as of his disability date, his total service
including service credited under the preceding sentence, and his primary social
security benefit calculated as of the date of his disability.

     7.2  Period of disability.  A participant's date of disability is his last
          --------------------
day of work for his employer before becoming unable to continue working because
of his total disability.  A period of total disability of a participant will
begin on his disability date and will end on the earlier of the last day of the
month in which his final disability income payment is due under the disability
income plan or on the date he retires hereunder and starts receiving benefit
payments.

     7.3  Death while disabled.  If a participant dies while disabled, his
          --------------------
surviving spouse will, if eligible, receive the pre-retirement surviving spouse
benefit determined under Section 6.2(a) or (b).

     7.4  No duplication of benefits.  A participant may not receive benefits
          --------------------------
under this plan at any time when he is receiving disability income benefits
under the disability income plan.

SECTION 8.  OFFSET FOR OTHER PAYMENTS

     8.1  Retirement benefit offsets.  The retirement benefit of a participant
          --------------------------
will be reduced (but not below zero) by the following payments, with such
reductions starting when such benefits are assumed to begin: (a) 100% percent of
the social security benefit of the participant assuming such benefit begins on
the later of his normal retirement age or his actual retirement, and (b) the
amount of his benefit payments under the retirement plan (converted to a life
annuity if such payments are in an optional form), assuming such payments begin
on the later of his early retirement age or his actual retirement.

     8.2  Death benefit offsets.  The benefit of a surviving spouse will be
          ---------------------
reduced (but not below zero) by the following payments: (a) payments under the
survivor income plan, and (b) payments under the retirement plan.

                                       9
<PAGE>

                                  PART THREE

              PARTICIPATION AND BENEFITS FOR FORMER EMPLOYEES OF
                           PEOPLES GAS SYSTEM, INC.

SECTION 9.  DEFINITIONS

          This section contains definitions of terms used in this part of the
plan that are not defined in Section 2.

     9.1  Beneficiary means the person or persons, or the estate of a
          -----------
participant, entitled to receive Part A payments as set forth in Sections 11.1
and 12.1 and the surviving spouse of a participant and/or the participant's
unmarried children under the age of twenty three (23) entitled to receive Part B
payments as set forth in Section 11.1 and 12.1 subsequent to the death of a
participant.

     9.2  Beneficiary designation means the written designation in the form
          -----------------------
prescribed by the committee by which each participant names the beneficiary(ies)
of the participant's benefits under the plan.

     9.3  Current compensation means the total compensation as solely determined
          --------------------
by the employer in determining benefits under this plan.

     9.4  Covered compensation means the amount specified in Schedule B that
          --------------------
forms the basis for computation of the participant's death and retirement
benefits pursuant to the terms and conditions of this plan.

     9.5  Early retirement date means the date of a participant's retirement
          ---------------------
prior to his normal retirement date, and may occur on the first day of any month
following the month in which the participant attains his fifty-fifth birthday
and ten years of employment with the employer.

     9.6  Normal retirement date means the first day of the month following the
          ----------------------
month in which the participant attains either his sixty-fifth birthday and has
completed five years as a plan participant or his sixty-second birthday, has
completed five years as a plan participant, and has completed fifteen years of
employment with the employer.

     9.7  Retirement and retire mean severance of employment with the employer
          ----------     ------
at or after the attainment of normal retirement date or, with the consent of the
employer, on or after the early retirement date.

     9.8  Years of employment with the employer, years of participation in the
          -------------------------------------  -----------------------------
plan, and similar phrases will be construed in such a way that participants
----
receive full credit for years of employment with Peoples Gas System, Inc. and
any other affiliate of Lykes Energy, Inc., and years of participation in the
Supplemental Executive Retirement Plan of Lykes Energy, Inc. for all purposes of
this plan.

SECTION 10.  PARTICIPATION

     Any active employee of an employer who was formerly employed by Peoples Gas
System, Inc. or any other affiliate of Lykes Energy, Inc., was a participant in
the Supplemental Executive Retirement Plan of Lykes Energy, Inc., and is listed
on Schedule B to this plan is covered by this part of the plan and is eligible
to receive benefits hereunder.  The provisions of this part three of the plan
apply only to participants covered by part three.  References in this part three
to "participant" and "eligible" individuals include only people who are covered
by part three.

                                       10
<PAGE>

SECTION 11.  DEATH BENEFIT

     11.1 Amount and payment.  If a participant dies before retirement, the
          ------------------
employer will pay or cause to be paid a death benefit to such participant's
beneficiary.  Such death benefit will be divided into two parts:  Part A and
Part B.

          Part A will be paid in one sum to the participant's beneficiary, as
          ------
          set forth in his beneficiary designation in effect at the time of
          death, in an amount equal to two times the participant's covered
          compensation less $50,000.

          Part B will be 40% of the participant's covered compensation and will
          ------
          be paid in equal monthly installments for one hundred and eighty
          months or until the participant would have attained his sixty-fifth
          birthday, whichever is later.  Such payment will commence effective
          the first day of the month following the date of death.

     Notwithstanding the immediately preceding paragraph of this Section 11.1,
the employer will pay or cause to be paid the death benefit specified therein
only if:

          (a)  at the time of the participant's death prior to attaining his
               normal retirement date such participant was an employee and had
               not retired, or was totally disabled or on authorized leave of
               absence; and

          (b)  proof of death in such form as determined acceptable by the
               committee is furnished.

     11.2 Participant disability.  If a participant becomes totally disabled
          ----------------------
before retirement, he will remain a participant in this plan, but only if

          (a)  such disability was not either intentionally self-inflicted or
               caused by illegal or criminal acts of the participant; and

          (b)  the participant was an employee at the time he became totally
               disabled.

If a participant dies prior to retirement and while the waiver described in this
Section 11.2 is in effect, the death benefit provided in this Section 11 will be
paid.  If a participant retires, the retirement benefit provided in Section 12
will be paid.

The determination of what constitutes total disability and the removal thereof
for purposes of this Section 11 will be made by the committee, in its sole and
absolute discretion, and such determination will be conclusive.

SECTION 12.  RETIREMENT BENEFIT

     12.1 Normal retirement.  If a participant has remained an employee until
          -----------------
his normal retirement date and then retires, the employer will pay or cause to
paid to such participant a retirement benefit.  Such retirement benefit will be
divided into two parts:  Part A and Part B.

          Part A will be paid in one sum to the participant's beneficiary as set
          ------
          forth in his beneficiary designation in effect at the time of death in
          an amount equal to one times the participant's covered compensation.

          Part B will be 40% of the participant's covered compensation and will
          ------
          be paid in equal monthly installments in an amount as set forth in
          Schedule B.  Payment of such monthly amount will commence on the
          participant's normal retirement date and will continue for the life of
          the participant.  If the participant dies after retirement, payments
          will continue to the beneficiary until January 1 of the year the
          participant would have attained his normal life expectancy established
          at the date of retirement.

                                       11
<PAGE>

     12.2 Retirement after normal retirement date.  A participant who continues
          ---------------------------------------
employment with an employer after his normal retirement date may remain a
participant in the plan.  Upon retirement such a participant will be entitled to
the benefits provided in Section 12.7 hereof.  The monthly payments provided for
in Section 12.7 hereof will commence on the date the participant retires.

     12.3 Early retirement.  The committee, in its sole and absolute
          ----------------
discretion, may permit a participant to receive an early retirement benefit
commencing as of the first day of any month coincident with or following the
participant's early retirement date, but before the attainment of his normal
retirement date.  In such event, the participant's monthly early retirement
benefit will be the retirement benefit (Parts A and B) set forth in Schedule B
multiplied by a fraction, the numerator of which is the number of whole years
the employee has been a participant and the denominator of which is the number
of whole years between such participant's age at entry into the plan and the
participant's age sixty-five.  If the participant's benefits have been increased
since the participant's initial entry into this plan, or successor or
predecessor plans, the early retirement benefit will be determined by reducing
each incremental benefit increase in accordance with the formula.  The reduced
amounts will be payable as follows.

          Part A will be paid in a reduced one sum to the participant's
          ------
          beneficiary as set forth in his beneficiary designation in effect at
          the time of death.

          Part B will be paid in equal reduced monthly installments.  Payment of
          ------
          such monthly amount will commence on the participant's early
          retirement date and will continue for the life of the participant.  If
          the participant dies after retirement, payments will continue to the
          beneficiary until January 1 of the year the participant would have
          attained his normal life expectancy established at the date of
          retirement.

These reduced amounts shall be the only benefits to which such a participant is
entitled.

     12.4 Post-retirement death benefit.  If a participant dies after
          -----------------------------
retirement but before the applicable retirement benefit is paid in full, the
unpaid retirement benefit payments to which the participant is entitled will
continue to be paid to the participant's beneficiary.  Such payments shall be
made in accordance with the payment schedule to that participant pursuant to
Sections 12.1, 12.2, and 12.3 of the plan.

     12.5 Exclusivity of post-retirement death benefit.  No death benefit, as
          --------------------------------------------
defined in Section 11, will be paid to the beneficiary of a participant who dies
after retirement.

     12.6 Accrual of retirement benefit.  A participant who ceases to be an
          -----------------------------
employee, except as a result of death, retirement, or total disability within
the meaning of Section 11.2, will not be entitled to any benefits hereunder and
the employer will have no obligation hereunder to such participant, provided
that in the event the employer is merged, consolidated, reorganized, or sells
substantially all of its assets to another corporation, firm, or person and such
corporation, firm or person takes action to terminate this plan in accordance
with Section 19 or to terminate a participant in the plan as a result of such
merger, consolidation, reorganization, or sale of assets, such participant will
be entitled to those benefits as described in Sections 11.1 and 12.1 and 12.3.

     12.7 Benefit at retirement after attainment of normal retirement date.  If
          ----------------------------------------------------------------
a participant elects to continue employment beyond his normal retirement date,
the committee, and only the committee, will specify the amount of the
participant's retirement benefit.

                                       12
<PAGE>

SECTION 13.  BENEFICIARY

     Each participant will designate his beneficiary to receive benefits under
the plan by completing the beneficiary designation.  If more than one
beneficiary is named, the shares and/or precedence of each beneficiary will be
indicated in the designation.  A participant will have the right to change the
beneficiary by submitting to the committee a new beneficiary designation.  The
beneficiary designation must be approved in writing by the employer; however,
upon the employer's acknowledgement of approval, the effective date of the
beneficiary designation will be the date it was executed by the participant.  If
the employer has any doubts as to the proper beneficiary to receive payments
hereunder, it will have the right to withhold such payments until the matter is
finally adjudicated.  Any payment made by the employer in good faith and in
accordance with the provisions of this plan and a participant's beneficiary
designation will fully discharge the employer from all further obligations with
respect to such payment.

     Part B benefits as set forth in Sections 11.1 and 12.1 of the plan will be
paid only to the participant's surviving spouse and/or participant's unmarried
children under the age of 23 as shown in the beneficiary designation.  Part A
benefits as set forth in Sections 11.1 and 12.1 of the plan will be paid as
shown in the beneficiary designation.

                                       13
<PAGE>

                                                                    Exhibit 10.1
                                   PART FOUR
                                 MISCELLANEOUS

SECTION 14.  BENEFITS NOT CURRENTLY FUNDED

     14.1  No funding.  Nothing in this plan will be construed to create a trust
           ----------
or to obligate the Company or any other employer to segregate a fund, purchase
an insurance contract, or in any other way currently to fund the future payment
of any benefits hereunder, nor will anything herein be construed to give any
participant or any other person rights to any specific assets of the Company or
of any other employer or entity.

     14.2  Grantor trust.  Notwithstanding Section 14.1, the Company has
           -------------
established a grantor trust of which it is treated as the owner under Section
671 of the Internal Revenue Code.

SECTION 15.  DEFINITIONS

     Where the context so requires, in construing terms used in the plan the
masculine includes the feminine, the singular includes the plural, and the
plural includes the singular.

SECTION 16.  ADMINISTRATION

     The plan will be administered by the committee, which will have full power
and authority to construe, interpret and administer the plan.  Decisions of the
committee will be final and binding on all persons.  The committee may, in its
discretion, adopt, amend, and rescind rules and regulations relating to the
administration of the plan.

SECTION 17.  RIGHTS NON-ASSIGNABLE

     No participant, surviving spouse, beneficiary, or any other person will
have any right to assign or otherwise to alienate the right to receive payments
under the plan, in whole or in part.

SECTION 18.  EXCESS BENEFIT PLAN

     This plan will supersede any obligation to pay to participants excess plan
benefits under the excess benefit plan contained in the retirement plan, as such
plan may be amended from time to time; no excess plan benefits will be payable
under such excess benefit plan to participants.

SECTION 19.  AMENDMENT OR TERMINATION

     The Company reserves the right at any time by action of the board to
terminate the plan or to amend its provisions in any way.  In addition, if the
retirement plan is terminated, this plan will automatically terminate also as of
the same effective date.  Notwithstanding the foregoing, no termination or
amendment of the plan may reduce the benefits payable under the plan to any
person with respect to a participant whose employment with his employer was
terminated before such termination or amendment and no termination or amendment
may reduce the benefits to be paid with respect to a participant on the date of
such termination or amendment below the amount which such participant would have
received if his employment had terminated on the date before such termination or
amendment.

     EXECUTED as of July 1, 1998.

                              TECO ENERGY, INC.

                              By:________________________________
                                 Clint Childress
                                 Chief Human Resources Officer

                                       14
<PAGE>

                                                                    Exhibit 10.1
                                  SCHEDULE A

                         Enhanced Retirement Benefits
                         ----------------------------

A.1. David N. Campbell and G. Pierce Wood. The retirement benefits of David N.
     ------------------------------------
Campbell and G. Pierce Wood are to be calculated as though each had continued in
employment until age 62 with annual earnings equal to the rate of earnings in
effect on his date of termination of employment.

A.2. 1994-95 Early Retirement Window.
     --------------------------------

     (a) The retirement benefits of each of the following participants are to be
calculated by using the factors set forth below:

<TABLE>
<CAPTION>
Name                 Increase in Age      Increase in Service
----                 ---------------      -------------------
<S>                  <C>                  <C>
William T. Snyder    3 years, 8 months     N/A

Robert T. Tomczak    3 years               3 years

Fred W. Maggard      4 years               4 years

R.D. Cornwell        4 years               4 years
</TABLE>

     (b) Average annual earnings for each of Philip G. Flood and John G. Graham
is to be calculated using the three consecutive calendar years out of the five
calendar years preceding the date of retirement which yield the highest average.

A.3. Larry D. Noland. The retirement benefit of Larry D. Noland is to be
     ---------------
calculated as though he were age 62 1/2 on his retirement date, resulting in an
increase in the benefit otherwise payable under the plan of $1,062.93 per month.

                                       15
<PAGE>

                                                                    Exhibit 10.1

                                   SCHEDULE B

            Covered Compensation and Part A and Part B Benefits of
            ------------------------------------------------------
                Participants Covered by Part Three of the Plan
                ----------------------------------------------

<TABLE>
<CAPTION>
                                                Death benefits                    Retirement benefits
                                                (Section 11.1)                      (Section 12.1)
  Participant          Covered             Part A            Part B            Part A            Part B
                    compensation
<S>                 <C>                  <C>              <C>               <C>              <C>
Gerald E. Cox            $138,445              N/A*              N/A*        $  138,445          $4,614.82
Wayne E. Hoffman         $114,736              N/A*              N/A*        $  114,736          $3,824.53
Ernest L. Mize           $ 96,626              N/A*              N/A*        $   96,626          $3,220.87
Frank J. Sivard          $146,257        **$242,514       **$4,875.23       ***$146,257       ***$4,875.23
M. Lee Young             $179,610              N/A*              N/A*        $90,974.33      ****$3,032.48
</TABLE>

*    He did not die before retirement, so he is not entitled to death benefits
     under Section 11.1.
**   Payable only if he dies before retirement.
***  Payable only if he retires before death.
**** Includes $933.01 per month for two extra years of service in accordance
     with severance agreement.

                                       16<PAGE>

                                                                    Exhibit 10.2

                              TECO ENERGY GROUP
                              -----------------
                      SUPPLEMENTAL RETIREMENT BENEFITS
                      --------------------------------
                              TRUST AGREEMENT
                              ---------------

     The TECO Energy Group Supplemental Retirement Benefits Trust Agreement by
and between TECO Energy, Inc. (the "Company") and Citibank, N.A. (successor to
NationsBank, N.A., the "Trustee"), as previously amended, is hereby amended and
restated in its entirely effective as of January 1, 1998.

     WHEREAS, the Company maintains the plans listed on Exhibit A (such plans
being hereinafter collectively referred to as the "plans" and individually as a
"plan") under which certain officers of the Company and its subsidiaries and
their beneficiaries may become eligible for supplemental retirement income and
excess plan benefits ("supplemental benefits"); and

     WHEREAS, the Company and the Trustee desire to amend and restate the trust
agreement;

     NOW THEREFORE, in consideration of the mutual agreements contained herein,
the Company and the Trustee hereby agree as follows:

SECTION 1.   TRUST FUND

     1.1. Subject to the claims of its creditors as set forth in Section 4, the
Company has heretofore deposited certain sums of cash or other property with the
Trustee pursuant to the trust agreement. Such cash or other property will
continue to be held, administered and disposed of by the Trustee as provided in
this trust agreement.

     1.2. The trust will be irrevocable. However, if at any time before a
"change in control of the Company" (as defined below), the Company obtains an
opinion of counsel, acceptable to the Company and the Trustee, that the plans
would be deemed "funded" for purposes of Title 1 of the Employee Retirement
Income Security Act of 1974, as amended, by reason of the trust, or that amounts
held in the trust or contributed thereto, or earnings thereon, would be included
in the income of trust beneficiaries before distribution to them from the trust,
the trust will become revocable. Any revocation will be accomplished by written
notice thereof from the Company to the Trustee. Upon receipt of such a notice
of revocation, the Trustee will deliver the assets of the trust to the

                                      1
<PAGE>

Company, less any fees and expenses that may be due to the Trustee. The Trustee
may rely conclusively on such opinion of counsel.

     1.3. The trust is intended to be a grantor trust of which the Company is
treated as the owner under Section 671 of the Internal Revenue Code of 1986, as
it may be amended from time to time, and the trust will be construed
accordingly.

     1.4. The principal of the trust and any earnings thereon, unless returned
to the Company under Section 1.2. Section 2.2 or Section 6 or used to defray the
expenses of the trust, will be used exclusively for the benefit of trust
beneficiaries or, to the extent provided under Section 4, for the benefit of
general creditors of the Company. No trust beneficiary will have any preferred
claim on, or any beneficial ownership interest in, any assets of the trust
before such assets are paid to the trust beneficiaries as supplemental benefits
under Section 3, and all rights created under the plans and this trust agreement
will be unsecured contractual rights of the trust beneficiaries against the
Company.

     1.5. The Trustee of such third party recordkeepers as may be appointed by
the Company will keep such records and maintain such books and accounts as will
at all times be sufficient to indicate, for accounting purposes, the
proportionate part of the trust that is held on behalf of the officers listed on
Exhibit B. For this purpose only, the Trustee or recordkeeper will maintain
separate bookkeeping accounts for each such officer and will credit thereto all
contributions made and designated by the Company to fund benefits payable to
such officer or his or her beneficiary, and earnings thereon, and will charge
thereto all payments out of the trust made to or for the account of such officer
or his or her beneficiary. Notwithstanding the foregoing, the Trustee may hold
the trust as a single fund and may invest and reinvest the commingled assets and
receive the income and proceeds thereof, all without regard to the source of any
part of the commingled assets.

     1.6. The Trustee may hold any part of the must fund in cash, without
liability for interest thereon (notwithstanding the trustee's receipt of float
on such uninvested cash with respect to anticipated pension disbursements or
trust expenses), until the same is reinvested or disbursed.

SECTION 2.   FUNDING OF TRUST FUND

     2.1. The Company may at any time and from time to time make deposits with
the Trustee of cash or other property reasonably acceptable to the Trustee to
augment the principal of the trust, and the Trustee will hold, administer and
dispose of such deposits as provided in this trust agreement.

     2.2. If at the time of a "potential change in control of the Company" (as
defined below), this trust (a) has not been terminated or revoked and (b) is not
"fully funded" (as defined below), the Company will promptly deposit in the
trust cash sufficient to cause the trust to be fully funded as of the date of
the deposit. In the event of a potential change in control of the Company, the
fully funded amount will be recalculated as of the last

                                      2
<PAGE>

day of the calendar year in which such potential change in control occurs and as
of the last day of every calendar year following the potential change in
control. If the amount so calculated exceeds the fair market value of the assets
then held in trust, the Company will promptly (and in no event later than 30
days after such recalculation date) deposit in the trust cash equal to such
excess. If the fully funded amount so calculated is less than the fair market
value of the assets held in trust, the Trustee, upon receipt of a written
request from the Company, will distribute to the Company such difference in
cash.

     2.3. For purposes of this Section 2, the trust will be deemed "fully
funded" as of any date if, as of such date, the fair market value of the assets
held in the trust is not less than the aggregate present value as of such date
of (a) all benefits then in pay status under the plans (including benefits not
yet begun for eligible officers who have retired, died or otherwise terminated
employment under circumstances entitling them to benefits under any of the
plans) plus (b) all benefits that would become payable under the plans if on
such date a change in control of the Company was deemed to have occurred and all
participants under each of the plans were deemed to have retired for purposes of
such plans. In applying the preceding sentence, present value will be determined
by using the interest and mortality assumptions used in determining lump sum
present values under the TECO Energy Group Retirement Plan, as it may be amended
from time to time. The Trustee will have no duty at any time to determine
whether the trust is fully funded or to calculate the fully funded amount or the
dollar amount required to be contributed pursuant to Section 2.2. Prior to a
potential change in control of the Company, the Company or an actuarial,
accounting or benefits consulting firm (the "Service Provider") selected by
the Company will calculate the fully funded amount and the contribution amount.
On or after a potential change in control of the Company, a Service Provider
selected by the Company prior to the potential change in control (with written
notice of such selection being provided to the Trustee by the Company prior to
the potential change in control) will calculate the fully funded amount and the
contribution amount; provided, however, that if a Service Provider is not so
selected or is so selected but fails for any reason to act after a potential
change in control, the Trustee will select a Service Provider to perform the
calculations required by Section 2.2 or this Section 2.3. The Trustee may rely
conclusively upon any calculation of the fully funded amount and the
contribution amount provided by a Service Provider and any other calculation by
the Service Provider that may be required by Section 2.2 or this Section 2.3.

See Amend. 1 7/15/98

                                      3
<PAGE>

     2.5. For purposes of this trust agreement, a "potential change in control
of the Company" will be deemed to have occurred if:

     (a) the Company enters into an agreement, the consummation of which would
result in the occurrence of a change in control of the Company:

     (b) any person (including the Company), publicly announces an intention to
take or consider taking actions which if consummated would constitute a change
in control of the Company:

                                      4
<PAGE>

     (c) any person (as hereinabove defined), other than the Company, any
trustee or other fiduciary holding securities under an employee benefit plan of
the Company or a corporation owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of stock
of the Company (a) is or becomes the beneficial owner, (b) discloses directly or
indirectly to the Company or publicly a plan or intention to become the
beneficial owner, or (c) makes a filing under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, with respect to securities to become the
beneficial owner, directly or indirectly, of securities representing 9.9% or
more of the combined voting power of the outstanding voting securities of the
Company; or

     (d) the board adopts a resolution to the effect that, for purposes of this
trust agreement, a potential change in control of the Company has occurred.

     (e) Notwithstanding anything in this trust agreement to the contrary, a
"potential change in control of the Company" will not be deemed to have occurred
until the Trustee has received a written certification from an individual who is
the president, a vice-president, or the treasurer of the Company immediately
before such potential change in control has occurred. The Trustee has no duty to
inquire as to the existence of a certification and may rely conclusively upon a
certification once it is received by the Trustee.

     2.6. Upon the termination of employment with the Company of an officer
listed on Exhibit B for any reason, the Company will promptly deposit in the
trust cash equal to the present value of all benefits to which such officer or
his beneficiary is entitled. Such deposit will be credited to the account
established on behalf of such officer under Section 1.5. Such present value will
be recalculated as of the last day of the calendar year in which such
termination of employment occurs and as of the last day of every calendar year
following the termination of employment. If the amount so calculated exceeds the
fair market value of the assets then credited to such officer's individual
account by at least one percent, the Company will promptly (and in no event
later than 30 days after such recalculation date) deposit in the trust for
crediting to the account cash equal to such excess. In applying the preceding
sentences, present value will be determined by using the interest and mortality
assumptions used in determining lump sum present values under the TECO Energy
Group Retirement Plan, as it may be amended from time to time. The Trustee will
have no duty at any time to calculate the present value of the supplemental
benefits to an officer or beneficiary or the amount required to be contributed
pursuant to this Section 2.6. Prior to a potential change in control of the
Company, the Company or a Service Provider selected by the Company will
calculate the present value of benefits and the contribution amount; provided,
however, that if a Service Provider is not so selected or is so selected but
fails for any reason to act after a potential change in control, the Trustee
will select a Service Provider to perform the calculations required by this
Section 2.6. The Trustee may rely conclusively upon any calculation of the
present value and the contribution amount by a Service Provider and any other
calculation by the Service Provider that may be required by this Section 2.6.

                                      5
<PAGE>

     2.7. The Trustee will, and any participant or beneficiary may, take any
reasonable actions necessary to enforce the deposit of funds as required under
this Section 2, including bringing suit or instituting other legal proceedings
against the Company. Any such person taking action to enforce the payment of
contributions will be entitled to reimbursement from the trust or, if such
assets are insufficient, from the Company for any costs or expenses, including
reasonable attorneys fees, of the enforcement action. In taking any such action,
the Trustee may rely on such evidence as it deems appropriate of the event or
events giving rise to the Company's obligation to contribute. In the case of
contributions required under Section 2.2, such evidence may include a public
announcement of the event constituting a "potential change in control of the
Company". In the case of contributions required under Section 2.6, such
evidence may include a participant's affidavit that employment with the Company
has terminated supported by a copy of a resignation letter, severance agreement
or other appropriate documentation of termination.

     SECTION 3. PAYMENTS TO TRUST BENEFICIARIES

     3.1. Subject to the availability of the assets in the trust and provided
the Company is not then "insolvent" (as hereinafter defined), the Trustee will
make payments of supplemental benefits to trust beneficiaries as they fall due
in accordance with the plans. If the assets of the trust are not sufficient to
make all payments of supplemental benefits to trust beneficiaries, the Company
will make the balance of such payments as they fall due. The Company will from
time to time prepare and file with the Trustee a schedule (the "Payment
Schedule") setting forth the amount and time of payment of supplemental
benefits, and notwithstanding any other provision hereof the Trustee may rely
conclusively on the Payment Schedule or Payment Schedules currently on file with
it or, if there is a potential change in control of the Company, the Payment
Schedule or Payment Schedules on file with it as of the date of the potential
change in control. A Payment Schedule will contain the information described in
the form of Payment Schedule attached hereto as Exhibit C.

     3.2. If at any time following a change in control of the Company, the
Trustee receives an opinion of counsel that amounts held in the trust or
contributed thereto, or earnings thereon, would be includible in the income of
the trust's beneficiaries before distribution to them from the trust, the
Trustee will distribute to such beneficiaries such amounts as, in accordance
with calculations consistent with such opinion, are includible in the income of
such beneficiaries. For purposes of the preceding sentence, the opinion of
counsel will either be rendered by counsel for the Company or, if the Company
prior to a change in control has appointed and given notice to the Trustee of
such appointment by counsel designated in such notice. The Trustee will have no
duty to obtain any opinion under this Section 3.3, may rely conclusively on any
opinion that is rendered in accordance with this Section 3.3 and will have no
duty to inquire as to the accuracy of the opinion or the amount to be
distributed pursuant to the opinion. The Trustee may engage such experts as it
may deem appropriate to perform calculations pursuant to the

                                      6
<PAGE>

opinion. Notwithstanding any other provision of this trust agreement, with
respect to any amounts contributed under Section 2.6 and the earnings thereon,
if at any time before a change in control the Company obtains an opinion of
counsel that the related plans would be deemed "funded" for purposes of Title I
of the Employee Retirement Income Security Act of 1974, as amended, by reason of
the trust, or that amounts held in the trust or contributed thereto, or earnings
thereon, would be includible in the income of trust beneficiaries before
distribution to them from the Trust, the Company will notify the Trustee of such
opinion, and pursuant to directions from the Company, the Trustee will
distribute such amounts to such beneficiaries. The Trustee will have no duty to
obtain any opinion under the preceding sentence, may rely conclusively on such
opinion and will have no duty to inquire as to the accuracy of the opinion or
the amount to be distributed pursuant to the opinion.

     3.3 Subject to Section 4, all amounts credited to the account established
on behalf of an officer under Section 1.5, and all earnings thereon, will be
used solely to make payments of supplemental benefits to such officer or his or
her beneficiary and will not be available for payment of benefits to any other
trust beneficiary. If the amounts credited to the account are for any reason
insufficient to make payments to such officer and his or her beneficiary, such
payments may be made from any assets in the trust other than assets credited to
the accounts established on behalf of other officers under Section 1.5. If such
other assets of the trust are not sufficient to make such payments, the Company
will make the balance of such payments as they fall due. Upon payment of all
supplemental benefits to such officer and beneficiary, any amounts that remain
credited to the account established on behalf of such officer will become
general assets of the trust available for payment of supplemental benefits to
any trust beneficiaries.

SECTION 4.   PAYMENTS TO TRUST BENEFICIARIES WHEN THE COMPANY IS INSOLVENT

     4.1. The Company will be deemed to be "Insolvent" for purposes of this
trust agreement upon the occurrence of any of the following:

     (a) the Company makes an assignment for the benefit of creditors, files a
petition in bankruptcy, petitions or applies to any tribunal for the appointment
of a custodian, receiver, liquidator, sequestrator, or any trustee for it or a
substantial part of its assets, or commences any case under any bankruptcy,
reorganization, arrangement, readjustment of a debt, dissolution, or liquidation
law or statute of any jurisdiction (federal or state), whether now or hereafter
in effect; or if any such petition or application is filed, or any such case is
commenced against it, in which an order for relief is entered or which remains
undismissed and unstayed for 90 days; or the Company by any act or omission
indicates its consent to, approval of or acquiescence in any such petition,
application or case or order for relief or to the appointment of a custodian,
receiver or any trustee for it or any substantial part of its assets, or suffers
any such custodianship, receivership, or trusteeship to continue undischarged;

                                      7
<PAGE>

     (b) the Company generally does not pay its debts as such debts become due
or ceases to pay its debts in the ordinary course of business; or

     (c) the sum of the Company's debts is determined to be greater than all its
property at a fair valuation; or

     (d) the present saleable value of the Company's assets is determined to be
less than the amount that would be required to pay the probable liability on its
existing debts as they become absolute and matured.

     4.2. At all times during the continuance of the trust, the principal and
income of the trust will be subject to claims of general creditors of the
Company, but only to the extent hereinafter set forth.

     The board of directors or the chief financial officer of the Company will
inform the Trustee of the Company's Insolvency as soon as practicable after
either of them knows of the Company's Insolvency. If the Trustee receives notice
of the Company's Insolvency pursuant to the preceding sentence or if a person
claiming to be a creditor of the Company alleges in writing to the Trustee that
the Company has become Insolvent, or if the Legal Department of the Trustee is
served with court papers in respect of a bankruptcy proceeding involving the
Company as debtor, the Trustee will discontinue supplemental benefits to trust
beneficiaries. The Trustee will notify the Company of such discontinuance within
five days after the start of the discontinuance. No later than five days after
receipt of such notice of discontinuance, the Company will request a prompt
determination by the independent accounting firm regularly auditing the books of
the Company as to whether the Company is Insolvent. Within five days after
receipt of such determination, the Company will provide a copy to the Trustee.
The Trustee will resume payments of supplemental benefits in accordance with
Section 3 of this Trust Agreement only after the Trustee receives a copy of a
determination issued to the Company by the independent accounting firm regularly
auditing the books of the Company that the Company is not Insolvent or is no
longer insolvent. The Trustee will have no duty to inquire whether the Company
is Insolvent.

     Nothing in this trust agreement will in any way diminish or augment any
rights of trust beneficiaries to pursue their rights as general creditors of the
Company with respect to their supplemental benefits or otherwise.

     4.3. If the Trustee discontinues payments of supplemental benefits from the
trust under Section 4.2 and subsequently resumes such payments, the first
payment following such discontinuance will include the aggregate amount of all
payments which would have been made to trust beneficiaries (together with
interest at a rate equal to the prime rate as published in the Wall Street
Journal from time to time, compounded annually on the amount delayed) in
accordance with the plans during the period of such discontinuance, less the
aggregate amount of any payments made to trust beneficiaries by the Company in
lieu of the payments provided for hereunder during any such period of
discontinuance. The Company (or the Service Provider if one is acting pursuant
to

                                      8
<PAGE>

Section 2.3 and/or Section 2.6) will direct the Trustee as to the amount of
payments under this Section 4.3.

SECTION 5.   INVESTMENT OF PRINCIPAL AND INCOME

     (a) Before a potential change in control of the Company, the Trustee will
invest the principal of the trust and any earnings thereon in accordance with
such written directions as the Company may from time to time communicate to the
Trustee, or, if the Company has appointed, with written notice to the Trustee,
an investment manager (an "Investment Manager") to manage or direct the
investment of some or all of the assets of the trust, in accordance with the
directions of such Investment Manager. The Trustee is authorized to invest the
assets of the trust in a common, collective, commingled or pooled trust fund
maintained by the Trustee. The Trustee will have no duty to inquire into or
review investments made pursuant to the directions of the Company or an
Investment Manager. Assets held in trust will not be invested in securities or
obligations issued by the Company or any affiliate of the Company.

     (b) As of the close of business on the last business day of each month and
as of such other dates as the Trustee may deem appropriate (in each case, a
"valuation date"), the Trustee will report to the Company the assets held in
the trust fund. Each such valuation will be made as promptly as practicable
after the valuation date as of which it is made. Assets will be valued by the
Trustee at their fair market values at the close of business on the valuation
date, or, in the absence of readily ascertainable fair market values, at such
fair values as the Trustee in good faith determines, in accordance with methods
consistently followed and uniformly applied. In determining fair market values
the Trustee will use such market quotations and other information as are
available to it and as may in its discretion be appropriate. The Trustee may
rely on valuations of nonmarketable assets furnished by outside advisors unless
the Company directs it otherwise, in which case it will rely on such other
valuation. The report of any such valuation will not constitute a representation
by the Trustee that the amounts reported as fair market values would actually be
realized upon the liquidation of a particular asset or class of assets. The
Trustee will not be accountable to the Company or to any employee of the Company
or to any other person on the basis of any such valuation, but its
accountability will be in accordance with the provisions of this agreement.

     The Company acknowledges that in order to comply with and perform the
Trustee's obligations under this agreement, the Trustee will rely on the timely
and accurate communication by any issuer of any insurance contract held as part
of the trust as herein provided, any investment manager maintaining any common,
collective or commingled trust fund in which assets of the trust have been
invested as herein provided, or any third parties sponsoring mutual funds in
which assets of the trust have been invested. It is further understood and
agreed that the Trustee, in the maintenance of its records hereunder, does not
assume any responsibility for the accuracy of any information furnished by the
Company, any issuer of any insurance contract held as part of the trust as
herein provided, any investment manager maintaining any common, collective or

                                      9
<PAGE>

commingled trust fund in which assets of the trust have been invested as herein
provided, or any third parties sponsoring such mutual funds, or any other
person, firm or corporation, unless the Trustee has actual knowledge that the
information is incorrect.

     (c) At any time when an investment manager is acting, the Trustee will send
to such investment manager all proxies and proxy materials relating to such
securities, signed by the Trustee without indication of voting preference, and
the investment manager will exercise all voting rights with respect thereto. The
Company may notify the trustee in writing that the Company or another person
(other than the Trustee) designated in such notice is to exercise the voting
rights with respect to securities described in the notice that would otherwise
be exercised by an investment manager hereunder, in which event the Trustee
will, so long as such notice remains in effect, send to the Company or such
other person all notices of meetings and all proxies and proxy material relating
to such securities, signed without indication of voting preference, and the
Company or such other person will exercise all voting rights with respect to
such securities. The foregoing procedure will also apply in any instance where
there is no acting investment manager.

     (d) The Company may, prior to a potential change in control, select and
contract with an Investment Manager to be responsible for all investments of
the Trust fund following a potential change in control, and the Company will
promptly provide written notice of the appointment to the Trustee. If the
Trustee has received written notice of the appointment of the Investment
Manager, the Trustee will, after a potential change in control, take direction
from the Investment Manager appointed by the Company. If the Company does not
appoint an Investment Manager or if it does but the Investment Manager for any
reason ceases to function as such, then the Trustee will have the power at all
times after a potential change in control to appoint an Investment Manager
(which may be an affiliate of the Trustee) to be responsible for all
investments of the Trust, and the Trustee will, after a potential change in
control, take direction from the Investment Manager appointed by it, except
that the Trustee may terminate the appointment of an Investment Manager
appointed by the Trustee and may replace it with a different Investment Manager
selected by the Trustee. The Trustee may conclusively rely on the investment
directions provided by the Investment Manager after a potential change in
control, whether the Investment Manager is appointed by the Company or the
Trustee.

SECTION 6.   DISPOSITION OF PRINCIPAL AND INCOME

     At all times during the continuance of the trust, all principal amounts
contributed to the trust and all interest thereon, net of expenses, will, unless
paid as distributions to trust beneficiaries under Section 3.1 or to creditors
of the Company under Section 4.2, be accumulated and reinvested for the purposes
provided herein. Except as provided in Section 1.2 or Section 2.2, the Company
will have no right or power to direct the Trustee to return to the Company or to
direct to others any of the trust assets before all payments of supplemental
benefits payable under the trust have been made to trust

                                     10
<PAGE>

beneficiaries. Upon payment of all such supplemental benefits, the Trustee will
return to the Company all amounts, if any, then remaining in the trust.

SECTION 7.   ACCOUNTING BY THE TRUSTEE

     The Trustee will keep accurate and detailed records of all investments,
receipts, disbursements, and all other transactions of the trust, including such
specific records as will be agreed upon in writing between the Company and the
Trustee. All such accounts, books and records will be open to inspection and
audit at all reasonable times by the Company. Within 90 days following the close
of each calendar year and within 90 days after the removal or resignation of the
Trustee, the Trustee will deliver to the Company a written account of its
administration of the trust during such year or during the period from the close
of the last preceding year to the date of such removal or resignation, setting
forth all investments, receipts, disbursements and other transactions of the
trust, including a description of all securities and investments purchased and
sold with the cost or net proceeds of such purchases or sales (accrued interest
paid or receivable being shown separately), and showing all cash, securities and
other property held in the trust at the end of such year or as of the date of
such removal or resignation, as the case may be. Any account, when approved by
the Company, will be binding and conclusive upon the Company and all persons
with any interest in the trust, and the Trustee will thereby be released and
discharged from any liability or accountability to the Company and all persons
with any interest in the trust with respect to all matters set forth therein.
Omission of the Company to object in writing to any specific items in any such
account within 90 days after its delivery to the Company will constitute
approval by the Company.

SECTION 8.   RESPONSIBILITY OF THE TRUSTEE

     8.1. The Trustee will act with the care, skill, prudence and diligence
under the circumstances then prevailing that a prudent person acting in a like
capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims, provided, however, that the
Trustee will incur no liability to anyone for any action reasonably taken in
accordance with a written direction, request, or approval given by the Company,
Service Provider or Investment Manager that is contemplated by and complies with
the terms of this trust agreement, including distributions made in accordance
with a plan and to that extent will be relieved of the prudent person rule for
investments. Notwithstanding any provision of this trust agreement to the
contrary, the Company will protect, indemnify and save harmless the Trustee and
its officers, employees and agents from and against all losses, liabilities
(including liabilities for penalties), actions, suits, judgments, demands,
damages, costs and expenses (including, without limitation, attorneys' fees and
disbursements) of any nature arising from or relating to any action or any
failure to act by the Trustee, its officers, employees and

                                     11
<PAGE>

agents or any Service Provider or arising from or relating to the transactions
contemplated by this agreement (including, but not limited to, any claim made
by a trust beneficiary or his or her beneficiary with respect to payment made
or to be made by the Trustee, and any claim made by the Company or its
successors, whether pursuant to a sale of assets, merger, consolidation,
liquidation or otherwise, that this trust agreement is invalid or ultra vires)
except to the extent that such loss, liability, action, suit, judgment, demand,
cost or expense is finally determined by a court of competent jurisdiction to
result from the negligence or willful misconduct of the Trustee or its officers
or employees. To the extent that the Company has not fulfilled its obligations
under the provisions of this Section 8.1, the Trustee will be reimbursed out of
the assets of the Trust or may set up reasonable reserves for the payment of
such obligations. The Trustee assumes no obligation or responsibility with
respect to any action required by this trust agreement on the part of the
Company. The Company also agrees to hold the Trustee harmless from and against
any tax, claim, liability, loss, damage or expense incurred by or assessed
against it as successor trustee, as a direct or indirect result of an act or
omission of a predecessor trustee or any other person charged under any prior
agreement affecting assets of the trust with investment responsibility for such
assets.

     8.2. The Trustee may consult with legal counsel (who may also be counsel
for the Trustee generally or counsel to the Company) with respect to any of its
duties or obligations hereunder, including any determination as to whether a
change in control of the Company has occurred or as to whether the Company is
Insolvent, and will not be held responsible for acting or refraining from acting
in accordance with the advice of any such counsel selected with reasonable care.

     8.3. The Trustee may hire such agents, legal counsel, accountants,
actuaries, investment managers and financial consultants as may be reasonably
necessary to administer the trust.

     8.4. The Trustee will have, without exclusion, all powers conferred on
trustees by applicable law unless expressly provided otherwise herein; provided,
however, that if an insurance policy or annuity contract is held as an asset of
the trust, the Trustee will have no power to name a beneficiary of the policy or
contract other than the trust or, except in accordance with Section 6 hereof, to
assign the policy or contract (as distinct from conversion of the policy or
contract to a different form) other than to a successor to the Trustee or to
loan to any person the proceeds of any borrowing against such policy or
contract.

SECTION 9.   COMPENSATION AND EXPENSES OF THE TRUSTEE

     The Trustee will be entitled to receive such reasonable compensation for
its services as the Company and the Trustee agree upon in writing. The Trustee
will also be entitled to receive its reasonable expenses incurred with respect
to the administration of the trust, including expenditures reasonably incurred
by the Trustee pursuant to Sections

                                     12
<PAGE>

8.2 and 8.3 of this trust agreement and any taxes required to be paid by the
Trustee in respect of the trust. All such compensation and expenses will be paid
by the Company, but if not paid by the Company will be a charge against and may
be paid from the assets of the trust.

SECTION 10.  REPLACEMENT OF THE TRUSTEE

     The Trustee may be removed at any time by the Company, or may resign, in
either case by at least 30 days' advance notice in writing (unless the parties
waive such notice or agree to a shorter notice period). In the case of the
removal or the resignation of the Trustee before a change in control of the
Company, the Company will appoint a new corporate Trustee, independent and not
subject to the control of either the Company, any affiliate thereof or any trust
beneficiary. Following a change in control of the Company, the Trustee cannot be
removed by the Company. If the Trustee resigns following a change in control of
the Company, it will either appoint a successor Trustee (which will be a
corporate Trustee, independent and not subject to the control of either the
Company, any affiliate thereof or any trust beneficiary) or obtain appointment
of such a Trustee by court order.

SECTION 11.  AMENDMENT OR TERMINATION

     11.1. This trust agreement may be amended at any time and to any extent by
a written instrument executed by the Trustee and the Company; provided, however,
that following a change in control of the Company this trust agreement may not
be amended or terminated, and following a potential change in control of the
Company and prior to the occurrence of a change in control of the Company the
trust agreement may not be amended in any manner adverse to any trust
beneficiaries unless (a) at least one year has expired since the most recent
event or transaction constituting a potential change in control of the Company
and (b) in respect of a potential change in control which previously occurred,
no facts or circumstances continue to exist which, if initially occurring at the
time any termination or amendment of this trust agreement is to occur, would
constitute a potential change in control of the Company; and provided further,
that while the trust is irrevocable, no such amendment will make the trust
revocable or permit assets of the trust, before the payment of all supplemental
benefits, to be returned to the Company or paid out of the trust to any other
person (except to trust beneficiaries pursuant to the plans or to creditors of
the Company under Section 4); and provided further that this trust agreement may
not be amended or terminated in any manner adverse to any of the officers listed
on Exhibit B or their beneficiaries without the written consent of such officer
or beneficiary, as the case may be. This Section 11.1 will not apply to any
amendment approved by the Company relating to the compensation or expenses of
the Trustee.

                                     13
<PAGE>

     11.2. The trust will not terminate until the date on which the last trust
beneficiary ceases to be entitled to supplemental benefits payable under the
trust, unless sooner revoked in accordance with Section 1.2; provided, however,
that the trust will terminate no later than 21 years following the death of all
individuals who were participants in any plan on the date hereof (and their
respective beneficiaries as of such date).

     11.3. Upon termination of the trust as provided in Section 11.2 or upon
revocation of the trust under Section 1.2, any assets remaining in the trust
will be returned to the Company.

SECTION 12.  SEVERABILITY AND ALIENATION

     12.1. Any provision of this trust agreement prohibited by law will be
ineffective to the extent of any such prohibition without invalidating the
remaining provisions hereof.

     12.2. To the extent permitted by law, benefits to trust beneficiaries under
this trust agreement may not be anticipated, assigned (either a: law or in
equity), alienated or subject to attachment, garnishment, levy, execution or
other legal or equitable process, and no benefit actually paid to a trust
beneficiary by the Trustee will be subject to any claim for repayment by the
Company or the Trustee.

SECTION 13.  GOVERNING LAW

     This trust agreement will be governed by and construed in accordance with
the laws of the State of New York, without giving effect to the conflicts of law
principles thereof.

SECTION 14.  ENTIRE AGREEMENT

     This trust agreement constitutes the entire agreement between the parties
hereto and supersedes all prior agreements, understandings and arrangements,
oral or written, between the parties hereto and respect to the subject matter
hereof.

                                     14
<PAGE>

     IN WITNESS WHEREOF, the Company and the Trustee have executed this amended
and restated trust agreement effective as of January 1, 1998.

Attest:                                              TECO ENERGY, INC.

/s/R. H. Kessel                                      By:/s/Roger A. Dunn
-----------------------                                 -----------------------
                                                     Name:
                                                          _____________________

Attest:                                              CITIBANK, N.A., as Trustee

/s/Stephen A. Sylvester                              By:/s/Timothy G. Kilduff
-----------------------                                 -----------------------
                                                     Name:
                                                          ---------------------

                                     15
<PAGE>

STATE OF Florida           .)
         ------------------
                      :      ss.:
COUNTY OF Hillsborough      )
          -----------------

     On the 30th day of December 1997, before me personally came Roger A. Dunn,
            ----        --------    -                            --------------
to me known, who being by me duly sworn, did depose and say that he resides at
1004 Siwanay St., Tampa, Florida, that he is VP Human Resources of TECO Energy,
------------------------------            ------------------    -----------
Inc. which executed the foregoing instrument; and that he signed his name
----
thereto by authorization of the Company.

                                                      /s/ Cindy L. Orlowski
                                                         ------------------
                                                            Notary Public
(Notarial Seal)                                           Personally known

                                     16
<PAGE>

STATE OF New York             )
         ---------------------
                         :    ss.:
COUNTY OF NY                  )
          --------------------

     On the 5 day of January 1998, before me personally came Timothy G. Kilduff
            -        -------    -                            ------------------
to me known, who, being by me duly sworn, did depose and say that he resides at
111 Wall St. NY NY 10005 that he is Vice President of CITIBANK, N.A. which
------------------------                              --------------
executed the foregoing instrument; and that he signed his name thereto by
authorization of the Company.

                                                      /s/ Patricia Saavedra
                                                         ----------------------
                                                             Notary Public
(Notarial Seal)

                                     17
<PAGE>

                                    Exhibit A
                                    ---------

TECO Energy Group Supplemental Executive Retirement Plan
Excess benefit plan contained in the TECO Energy Group Retirement Plan
TECO Energy Group Retirement Savings Excess Benefit Plan
TECO Energy, Inc. Supplemental Executive Retirement Plan for Girard F. Anderson
TECO Energy, Inc. Supplemental Executive Retirement Plan for H. L. Culbreath
TECO Energy, Inc. Supplemental Executive Retirement Plan for Roger A. Dunn
TECO Energy, Inc. Supplemental Executive Retirement Plan for Royston K. Eustace
TECO Energy, Inc. Supplemental Executive Retirement Plan for T. L. Guzzle
TECO Energy, Inc. Supplemental Executive Retirement Plan for Roger H. Kessel
TECO Energy, Inc. Supplemental Executive Retirement Plan for Richard E. Ludwig
TECO Energy, Inc. Supplemental Executive Retirement Plan for Alan D. Oak
TECO Energy, Inc. Supplemental Executive Retirement Plan for Keith S. Surgenor
TECO Energy, Inc. Supplemental Executive Retirement Plan for James K. Taggart

                                     18
<PAGE>

                                    Exhibit B
                                    ---------

Girard F. Anderson
Roger A. Dunn
Royston K. Eustace
Timothy L. Guzzle
Roger H. Kessel
Richard E. Ludwig
Alan D. Osk
Keith S. Surgenor
James K. Taggart

                                     19
<PAGE>

                                    Exhibit C
                                    ---------
                                Payment Schedule
                                ----------------
Participant                 Form of Payment       Date of            Date of
Name &          Amount      (lump sum;            Commencement       Termination
Address         Payable      periodic)            of Payment         of Payment
-------         -------      ---------            ----------         ----------

                                     20
<PAGE>

                             AMENDMENT NUMBER ONE TO
                                TECO ENERGY GROUP
                      SUPPLEMENTAL RETIREMENT BENEFITS TRUST

     The TECO Energy Group Supplemental Retirement Benefits Trust dated as of
January 1, 1998, between TECO Energy, Inc. and Citibank, N.A., is hereby amended
effective as of July 15, 1998, by deleting Section 2.4 and substituting the
following new Section 2.4 for it:

     2.4. For purposes of this trust agreement, a "change in control of the
Company" will mean a change in control of a nature that would be required to be
reported in response to Item 6(c) of Schedule 14A of Regulation 14A promulgated
under the Securities Exchange Act of 1934, as amended (the "Exchange Act")
whether or not the Company is in fact required to comply therewith; provided,
that, without limitation, such change in control will be deemed to have occurred
if:

     (a) any "person" (as such term is used in Sections 13(d) and 14(d) of the
Exchange Act), other than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or a corporation owned,
directly or indirectly, by the stockholders of the Company in substantially the
same proportions as their ownership of stock of the Company, is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Exchange Act) directly or
indirectly of securities of the Company representing 30% or more of the combined
voting power of the Company's then outstanding securities;

     (b) during any period of 24 consecutive months, individuals who at the
beginning of such period constitute the board of directors of the Company (the
"board") and any new director (other than a director designated by a person who
has entered into an agreement with the Company to effect a transaction described
in paragraphs (a), (c) or (d) of this Section 2.4) whose election by the board
or nomination for election by the stockholders of the Company was approved by a
vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of such period or whose election or
nomination for election was previously so approved, cease for any reason to
constitute a majority thereof,

     (c) there is consummated a merger or consolidation of the Company or any
direct or indirect subsidiary of the Company with any other corporation, other
than (i) a merger or consolidation resulting in the voting securities of the
Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) at least 65% of the combined voting securities of the Company
or such surviving entity or any parent thereof outstanding immediately after
such merger or consolidation or (ii) a merger or consolidation effected to
implement a recapitalization of the Company (or similar transaction) in which no
"person" (as hereinabove defined) acquires 30% or more of the combined voting
power of the Company's then outstanding securities; or

     (d) the stockholders of the Company approve a plan of complete liquidation
of the Company or there is consummated the sale or disposition by the Company of
all or substantially all of the Company's assets.
<PAGE>

     (e) Notwithstanding anything in this trust agreement to the contrary, a
change in control of the Company will not be deemed to have occurred until the
Trustee has received a written certification from an individual who is the
president, a vice-president or the treasurer of the Company immediately before
such change in control has taken place stating that a change in control has
occurred. The Trustee has no duty to inquire as to the existence of a
certification and may rely conclusively upon a certification once it is received
by the Trustee.

     IN WITNESS WHEREOF, the Company and the Trustee have executed this
instrument effective as of July 15, 1998.

Attest:                                      TECO ENERGY, INC.

/s/D.E. Schwartz                             By: /s/Roger A. Dunn
--------------------                             --------------------------
                                             Name: /s/Roger A. Dunn
                                                   ------------------------

                                             CITIBANK, N.A., as Trustee
Attest:
/s/Stephen A. Sylvester                      By: /s/Timothy G. Kilduff
--------------------                             --------------------------
                                             Name: /s/Timothy G. Kilduff, V.P.
                                                   ------------------------

                                      2

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