Document:

Second Supplemental Indenture dated as of December 21, 2007

 Exhibit 4.3 
  

 TECO FINANCE, INC. 
 Issuer 
 And 
 TECO ENERGY, INC. 
 Guarantor 
 To 
 THE BANK OF NEW YORK TRUST COMPANY, N.A. 
 Trustee 
  

 SECOND SUPPLEMENTAL INDENTURE 
 dated as of December 21, 2007 
 Supplementing the Indenture 
 dated as of
December 21, 2007 
  

 $191,215,000 
 6.75% Notes Due 2015 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE ONE
	  	 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	2
			
	 Section 101.
	  	 Definitions
	  	2
	 Section 102.
	  	 Section References
	  	5
			
	 ARTICLE TWO
	  	 DESIGNATION AND TERMS OF THE NOTES
	  	5
			
	 Section 201.
	  	 Establishment of Series
	  	5
	 Section 202.
	  	 Variations in Terms of the Notes
	  	5
	 Section 203.
	  	 Amount and Denominations; the Depositary
	  	5
	 Section 204.
	  	 Stated Maturity
	  	6
	 Section 205.
	  	 Interest Rates and Interest Payment Dates
	  	6
	 Section 206.
	  	 Form and Other Terms of the Notes
	  	6
	 Section 207.
	  	 Authentication and Delivery
	  	7
	 Section 208.
	  	 Redemption; No Sinking Fund
	  	7
			
	 ARTICLE THREE
	  	 SPECIAL TRANSFER RESTRICTIONS
	  	7
			
	 Section 301.
	  	 Representation by Purchases of Initial Notes
	  	7
	 Section 302.
	  	 Restriction on Transfer
	  	9
			
	 ARTICLE FOUR
	  	 RESTRICTIVE COVENANT
	  	10
			
	 Section 401.
	  	 Limitation on Certain Liens
	  	10
	 Section 402.
	  	 Reports by the Company
	  	11
			
	 ARTICLE FIVE
	  	 ADDITIONAL EVENT OF DEFAULT
	  	11
			
	 ARTICLE SIX
	  	 MISCELLANEOUS
	  	11
			
	 Section 601.
	  	 Effect On Original Indenture
	  	11
	 Section 602.
	  	 Counterparts
	  	11
	 Section 603.
	  	 Recitals
	  	11
	 Section 604.
	  	 Governing Law
	  	12
			
	 EXHIBIT A
	  	 FORM OF NOTE
	  	
	 EXHIBIT B-1
	  	 LEGEND FOR INITIAL NOTES
	  	
	 EXHIBIT B-2
	  	 REGULATION S LEGEND
	  	

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 EXHIBIT C
	  	FORM OF SUPPLEMENTAL COMPANY ORDER	  	
			
	 EXHIBIT D
	  	FORM OF CERTIFICATE TO BE DELIVERED IN CONNECTION WITH TRANSFERS PURSUANT TO REGULATION S	  	

 This Second Supplemental Indenture, dated as of December 21, 2007 is among TECO
FINANCE, INC., a corporation duly organized and existing under the laws of the State of Florida (herein called the “Company”), having its principal executive offices at 702 N. Franklin Street, Tampa, Florida 33602, TECO
ENERGY, INC., a corporation duly organized and existing under the laws of the State of Florida (herein called the “Guarantor”), having its principal executive offices at 702 N. Franklin Street, Tampa, Florida 33602, and THE
BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee (herein called the “Trustee”), having its corporate trust office at 10161 Centurion Parkway, Jacksonville, Florida 32256. 
 WITNESSETH: 
 WHEREAS, the Company, the
Guarantor and the Trustee entered into an Indenture, dated as of December 21, 2007, (the “Original Indenture”), pursuant to which one or more series of debt of the Company (the “Securities”) may be issued from
time to time; and 
 WHEREAS, Section 2.01 of the Original Indenture permits the terms of any series of Securities to be established in
an indenture supplemental to the Original Indenture; and 
 WHEREAS, Section 11.01(7) of the Original Indenture provides that a
supplemental indenture may be entered into by the Company, the Guarantor and the Trustee without the consent of any Holders of the Securities to establish the form and terms of the Securities of any series; and 
 WHEREAS, the Company has requested the Trustee to join with it in the execution and delivery of this Second Supplemental Indenture in order to supplement
and amend the Original Indenture by, among other things, establishing the form and terms of a series of Securities to be known as the Company’s “6.75% Notes Due 2015”; and 
 WHEREAS, the Company, the Guarantor and the Trustee desire to enter into this Second Supplemental Indenture for the purposes set forth in
Sections 2.01 and 11.01 of the Original Indenture as referred to above; and 
 WHEREAS, the Company has furnished the Trustee with a
Board Resolution authorizing the execution of this Second Supplemental Indenture; and 
  

 -ii- 

 WHEREAS, all things necessary to make this Second Supplemental Indenture a valid agreement of the
Company, the Guarantor and the Trustee and a valid supplement to the Original Indenture have been done, 
 NOW, THEREFORE, THIS SECOND
SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Notes to be issued hereunder by holders
thereof, the Company, the Guarantor and the Trustee mutually covenant and agree, for the equal and proportionate benefit of the respective holders from time to time of the Notes, as follows: 
 ARTICLE ONE 
 Definitions and Other Provisions of General Application 

 Section 101. Definitions 
 All capitalized terms that are used herein and not otherwise defined herein shall have the meanings assigned to them in the Original Indenture. The Original Indenture together with this Second Supplemental Indenture are hereinafter
sometimes collectively referred to as the “Indenture.” As used in this Second Supplemental Indenture, the following capitalized terms shall have the following respective meanings 
 As used in this Second Supplemental Indenture, the following terms shall have the following respective meanings: 
 “Additional Notes” means any additional Notes that may be issued from time to time pursuant to a “re-opening” of the series of
Notes as contemplated by Section 201 of this Second Supplemental Indenture. 
 “Additional Payments” has the meaning
given it in the Registration Rights Agreement. 
 “Business Day” means any day other than a Saturday or Sunday that is
neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulations to close in the City of New York. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the
time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes; provided, however, that if the remaining term of the Notes
to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 
 “Comparable Treasury Price” means (1) the average of five Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if an Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
  

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 “Consolidated Net Assets” means, for any period, the aggregate amount of assets (less
reserves and other deductible items) after deducting current liabilities, excluding short-term debt and current maturities of long-term debt, as shown on the most recently available quarterly or annual consolidated balance sheet of the Guarantor and
its Subsidiaries prepared in accordance with GAAP. 
 “Depositary” means The Depository Trust Company or its successor.

 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting
profession, which are in effect on the issuance date of the Notes. 
 “Independent Investment Banker” means any of UBS
Securities LLC, Citigroup Global Markets Inc. or Morgan Stanley & Co. Incorporated or any of their respective successors, as designated by the Company, or if all of those firms are unwilling or unable to serve as such, an independent
investment and banking institution of national standing appointed by the Company. 
 “Initial Notes” has the meaning
specified in Section 201. 
 “Interest Payment Date” means May 1 and November 1 of each year. 
 “Lien” means any lien, mortgage, pledge, security interest, conditional sale, title retention agreement or other charge or encumbrance
of any kind. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto which is a nationally
recognized statistical rating organization, or if such entity shall cease to rate the Notes or shall cease to exist and there shall be no such successor thereto, any other nationally recognized statistical rating organization selected by the Company
which is acceptable to the trustee. 
 “Original Issue Date” means the date upon which the Notes are initially issued by the
Company, such date to be set forth on the face of each Note. 
 “Person” means any individual, corporation, partnership,
limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision of any government. 
 “Principal Property” means any building, structure or other facility (together with the land on which it is erected and fixtures
comprising a part thereof) used primarily for manufacturing, processing, research, warehousing or distribution owned or leased by the Guarantor and having a net book value in excess of 2% of Consolidated Net Assets. 
  

 3 

 “Private Placement Legend” means the legend initially set forth on the Initial Notes in
the form set forth in Exhibit B-1. 
 “Record Date” means the fifteenth calendar day (whether or not a Business Day)
immediately preceding the related Interest Payment Date. The Record Date shall constitute the Regular Record Date for purposes of the Original Indenture. 
 “Reference Treasury Dealer” means: 
 (i) UBS Securities LLC, Citigroup
Global Markets Inc. and Morgan Stanley & Co. Incorporated, and each of their respective successors; provided that, if any such Reference Treasury Dealer ceases to be a primary U.S. Government securities dealer in New York City (a
“Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and 
 (ii) up to
two other Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any redemption date, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to an Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Registration Rights Agreement” means either (1) that certain Registration Rights Agreement dated as of December 21, 2007 by and between the Company and Citigroup Global Markets Inc. and J.P. Morgan Securities
Inc., or (2) with respect to any subsequent issuance of Additional Notes in a transaction exempt from the registration requirements of the Securities Act, the registration rights agreement, if any, entered into by the Company and the other
parties thereto in connection with such issuance, or both, as the context shall require. 
 “Regulation S Legend” means the
legend initially set forth on the Notes in the form set forth in Exhibit B-2. 
 “Restricted Security” means a Note
that constitutes a “Restricted Security” within the meaning of Rule 144(a)(3) under the Securities Act; provided, however, that the Trustee shall be entitled to request and conclusively rely on an Opinion of Counsel with respect to
whether any Note constitutes a Restricted Security. 
 “Rule 144A” means Rule 144A under the Securities Act. 
 “Securities Act” means the United States Securities Act of 1933, as amended. 
 “Standard & Poor’s” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and any successor thereto which is a nationally recognized statistical rating organization, or if such entity shall cease to rate the Notes or shall cease to exist and there shall be no such successor thereto, any other nationally recognized
statistical rating organization selected by the Company which is acceptable to the trustee. 
  

 4 

 “Subsidiary” means a corporation more than 50% of the outstanding voting stock of which
is owned, directly or indirectly, by the Guarantor or by one or more other Subsidiaries, or by the Guarantor and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has
voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 “Treasury Rate” means, as of any redemption date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the second business day immediately preceding that redemption
date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 
 Section 102. Section References 
 Each reference to a particular section set forth in this Second Supplemental Indenture shall, unless the context otherwise requires, refer to this Second Supplemental Indenture. 
 ARTICLE TWO 
 Designation and Terms of the Notes 
 Section 201. Establishment of Series 
 There is hereby created a series of Securities to be known and designated as the “6.75% Notes Due 2015” (the “Initial Notes”), and, when and if issued pursuant to the Registration Rights Agreement, for Initial
Notes, the “6.75% Notes due 2015” (such notes together with the Initial Notes, the “Notes”) which shall rank equally with each other and all other unsecured and unsubordinated indebtedness of the Company. For the purposes
of the Original Indenture, the Notes shall constitute a single series of Securities. 
 Section 202. Variations in Terms of the Notes

 Subject to the terms and conditions set forth in the Original Indenture and in this Second Supplemental Indenture, the terms of any
particular Note may vary from the terms of any other Note as contemplated by Section 3.01 of the Original Indenture, and the terms for a particular Note will be set forth in such Note as delivered to the Trustee or an Authenticating Agent for
authentication pursuant to Section 3.03 of the Original Indenture. 
 Section 203. Amount and Denominations; the Depositary 

 (a) The initial principal amount of Notes that may be issued under this Second Supplemental Indenture shall be $191,215,000. Additional
Notes may be issued under this Second Supplemental Indenture in unlimited principal amounts as permitted by the Original Indenture. The authorized denominations of Notes shall be $1,000 or integral multiples of $1,000 in excess thereof. 

 

 5 

 (b) The Notes shall be issuable only in fully registered form, without coupons, and will initially be
registered in the name of the Depositary or its nominee who is hereby designated as “U.S. Depositary” under the Original Indenture. 
 Section 204. Stated Maturity 
 The Stated Maturity of the principal amount of the Notes shall be May 1, 2015.

 Section 205. Interest Rates and Interest Payment Dates 
 (a) Interest Rate. The Notes shall bear interest at the annual rate of 6.75% from the Original Issue Date to the date on which the principal shall
become due on the Stated Maturity, and if such principal is not fully paid on the Stated Maturity, until such principal is paid in full. Interest on the Notes will be payable semi-annually on each Interest Payment Date, commencing on May 1,
2008. Such interest will be payable to the holder thereof as of the related Record Date. 
 (b) Computation of Interest. The amount of
interest payable for any period will be computed on the basis of a year of 360 days consisting of twelve 30-day months. Except for the effect of any adjustment in the Interest Payment Date as provided in the following sentence, the amount of
interest payable for any period shorter than a full six-month period for which interest is computed, will be computed on the basis of the actual number of days elapsed in such a 180-day period. If any Interest Payment Date would otherwise be a day
that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed to the next succeeding Business Day, and no interest will accrue on such payment for the period from and after such Interest Payment Date to
the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and
effect as if made on such Interest Payment Date. 
 Section 206. Form and Other Terms of the Notes 
 (a) Attached hereto as Exhibit A is the form of Note, which form is hereby established as the form in which the Notes may be issued and which shall
be completed with the series designation, Stated Maturity, interest rate and CUSIP number applicable to the Notes upon such issuance. Each Initial Note and any Note constituting a Restricted Security shall also bear the legend set forth in
Exhibit B-1. Notes offered and sold in offshore transactions in reliance on Regulation S under the Securities Act shall also bear the legend set forth in Exhibit B-2. 
 (b) Subject to (a) above, any Note may be issued in such other form as may be provided by, or not inconsistent with, the terms of the Original
Indenture and this Second Supplemental Indenture. 
  

 6 

 Section 207. Authentication and Delivery 
 As provided in and pursuant to Section 3.03 of the Original Indenture, each time that the Company delivers Notes to the Trustee or Authenticating
Agent for authentication after the initial issuance of Notes under this Indenture, the Company shall deliver a Supplemental Company Order in the form of Exhibit C to this Second Supplemental Indenture (which form shall be completed upon
delivery with the series designation applicable to the Notes) for the authentication and delivery of such Notes and the Trustee or such Authenticating Agent shall authenticate and deliver such Notes. 
 Section 208. Redemption; No Sinking Fund 
 (a) The Notes are subject to redemption, in whole or in part, at any time, at the option of the Company, at a redemption price equal to the greater of: 
 (i) 100% of the principal amount of Notes then outstanding to be redeemed, or 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes then outstanding to be
redeemed (not including any portion of such payments of interest accrued as of the redemption date) discounted to the redemption date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at the Treasury Rate,
plus 50 basis points (0.50%), as calculated by an Independent Investment Banker, 
 plus, in either of the above cases, accrued and unpaid interest thereon
to the redemption date. 
 (b) The Company will mail a notice of redemption at least 30 days but no more than 60 days before the redemption
date to each Holder of Notes to be redeemed. If the Company elects to partially redeem the Notes, the Trustee will select in a fair and appropriate manner the Notes to be redeemed. 
 (c) Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or
portions thereof called for redemption. 
 (d) The Notes are not entitled to the benefit of any sinking fund or analogous provision.

 ARTICLE THREE 
 Special Transfer Restrictions 
 Section 301. Representation by Purchases of Initial Notes. 
 Each purchaser of the Initial Notes will be deemed to have represented and agreed as follows (terms used in this Section 401 that are defined in Rule
144A are used herein as defined therein): 
 (i) The purchaser is either: (A) a qualified institutional buyer and is
aware that the sale to it is being made in reliance on Rule 144A and such qualified institutional buyer is acquiring such securities for its own account or for the account of another qualified institutional buyer; or (B) it or such investor
account is a foreign purchaser outside the United States. 
  

 7 

 (ii) The purchaser understands that the Initial Notes are being offered in a transaction
not involving any public offering in the United States within the meaning of the Securities Act, that the Initial Notes have not been registered under the Securities Act and that (A) the Initial Notes may be offered, resold, pledged or
otherwise transferred only (1)(a) to a Person who the seller reasonably believes is a qualified institutional buyer in a transaction meeting the requirements of Rule 144A, (b) in a transaction meeting the requirements of Rule 144 under the
Securities Act, if available, (c) outside the United States to a foreign purchaser in a transaction meeting the requirements of Regulation S under the Securities Act, or (d) to an “accredited investor” within the meaning of
Rule 501 (a) (1), (2), (3) or (7) under the Securities Act, or Institutional Accredited Investor, that is purchasing at least $100,000 of securities for its own account or for the account of an Institutional Accredited Investor
(and based upon an opinion of counsel if the Company so requests), (2) to the Company or any of our Subsidiaries, or (3) under an effective registration statement and, in each case, in compliance with any applicable securities laws of any
State of the United States or any other applicable jurisdiction and (B) the purchaser will, and each subsequent holder is required to, notify any later purchaser from it of the resale restrictions described in (A) above. If any resale or
other transfer of any security is proposed to be made under clause (A)(1)(d) above while these transfer restrictions are in force then the transferor shall deliver a letter from the transferee to the Company and the Trustee, as the case may be,
which shall provide, among other things, that the transferee is an Institutional Accredited Investor and that it is acquiring the Initial Notes for investment purposes and not for distribution in violation of the Securities Act. 
 (iii) The purchaser understands that the certificates evidencing the Initial Notes will, unless otherwise agreed by the Company and the
Holders of the Initial Notes, bear a legend substantially to the effect set forth in clause (ii) above. 
 (iv) If it is
a purchaser in a sale that occurs outside the United States within the meaning of Regulation S, it acknowledges that until the expiration of the “40-day distribution compliance period” within the meaning of Rule 903 of Regulation S, any
offer or sale of the Initial Notes shall not be made by it to a U.S. Person or for the account or benefit of a U.S. Person within the meaning of Rule 902(k) of the Securities Act. 
 (v) The purchaser agrees that the Security Registrar is not required to register any proposed transfer of a Restricted Security to a
Non-U.S. Person unless it receives a certificate substantially in the form of Exhibit D from the proposed transferor and such certifications, legal opinions and other information as the Trustee or the Company may reasonably request.

  

 8 

 (vi) The purchaser acknowledges that the Trustee will not be required to accept for
registration of transfer any Initial Notes acquired by it, except upon presentation of evidence satisfactory to the Company and the Trustee that the restrictions set forth herein have been complied with. 
 Section 302. Restriction on Transfer. 
 The Initial Notes may not be sold or transferred to, and each purchaser by its purchase of the Initial Notes shall be deemed to have represented and covenanted that it is not acquiring the Initial Notes for or on behalf of or with the
assets of, and will not transfer the Initial Notes to, any employee benefit plan as defined in Section 3(3) of ERISA, except that such purchase for or on behalf or with the assets of an employee benefit plan shall be permitted: 
 (i) to the extent such purchase is made by or on behalf of a bank collective investment fund maintained by the purchaser in which no
employee benefit plan (together with any other plans maintained by the same employer or employee organization) has an interest in excess of ten percent of the total assets in such collective investment fund, and the conditions of Section III of
Prohibited Transaction Class Exemption 91-38 issued by the Department of Labor are satisfied; 
 (ii) to the extent such
purchase is made by or on behalf of an insurance company pooled separate account maintained by the purchaser in which, at any time while the Notes are outstanding, no employee benefit plan (together with any other plans maintained by the same
employer or employee organization) has an interest in excess of ten percent of the total of all assets in such pooled separate account, and the conditions of Section III of Prohibited Transaction Class Exemption 90-1 issued by the Department of
Labor are satisfied; 
 (iii) to the extent such purchase is made on behalf of or with the assets of an employee benefit plan
by (A) an investment adviser registered under the Investment Advisers Act of 1940, as amended (the “1940 Act”), that had as of the last day of its most recent fiscal year total client assets under its management and control in
excess of $50,000,000 and had stockholders’ or partners’ equity in excess of $750,000, as shown in its most recent balance sheet prepared in accordance with generally accepted accounting principles, or (B) a bank as defined in
Section 202(a)(2)of the 1940 Act that has the power to manage, acquire or dispose of assets of the plan and which bank has equity capital in excess of $1,000,000 as of the last day of its most recent fiscal year, or (C) an insurance
company which is qualified under the laws of more than one state to manage, acquire or dispose of any assets of a pension or welfare plan, which insurance company has as of the last day of its most recent fiscal year, net worth in excess of
$1,000,000 and which is subject to supervision and examination by a state authority having supervision over insurance companies, and, in any case, such investment adviser, bank, or insurance company is otherwise a qualified professional asset
manager (“QPAM”), as such term is used in Prohibited Transaction Class Exemption 84-14 issued by the Department of Labor, and the assets of such plan when combined with the assets of other plans established or maintained by the same
employer (or affiliate thereof) or employee organization and managed by the QPAM, do not represent more than 20% of the total client assets managed by the QPAM at the time of the transaction, and the other applicable conditions of such exemption are
otherwise satisfied; 
  

 9 

 (iv) to the extent such plan is a governmental plan (as defined in Section 3(32) of
ERISA), a church plan (as defined in Section 3(33) of ERISA), a foreign benefit plan, or other plan which is not subject to the provisions of Title I of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (the
“Code”); 
 (v) to the extent such purchase is made by or on behalf of an insurance company using the assets
of its general account, the reserves and liabilities for the general account contracts held by or on behalf of any plan, together with any other plans maintained by the same employer (or its affiliates) or employee organization, do not exceed ten
percent of the total reserves and liabilities of the insurance company general account (exclusive of separate account liabilities), plus surplus as set forth in the National Association of Insurance Commissioners Annual Statement filed with the
state of domicile of the insurer, in accordance with Prohibited Transaction Class Exemption 95-60, and the conditions of Sections I and IV of such exemption are otherwise satisfied; 
 (vi) to the extent such purchase is made by an in-house asset manager within the meaning of Part IV(a) of Prohibited Transaction Class
Exemption 96-23, such manager has made or properly authorized the decision for such plan to purchase Notes, under circumstances such that Prohibited Transaction Class Exemption 96-23 is applicable and satisfied with respect to the purchase and
holding of such Notes; or 
 (vii) to the extent such purchase will not otherwise give rise to a transaction described in
Section 406 of ERISA or Section 4975(c)(1) of the Code for which a statutory or administrative exemption is unavailable. 
 Section 303. Reports by the Guarantor 
 So long as any of the Notes are Restricted Securities, the Guarantor will,
during any period in which it is not subject to Sections 13 or 15(d) of the Exchange Act or it is not exempt from such reporting requirements pursuant to and in compliance with Rule 12g3-2(b) under the Exchange Act, provide to each Holder of Notes
and to each prospective purchaser (as designated by such Holder) of Notes, upon the request of such Holder or prospective purchaser, any information required to be provided by Rule 144A(d)(4) under the Securities Act. 
 ARTICLE FOUR 
 Limitation on Certain
Liens 
 As long as any of the Notes are outstanding, if the Guarantor shall incur, issue, assume or guarantee any indebtedness for
borrowed money represented by notes, bonds, debentures or other similar evidences of indebtedness, secured by a Lien on any Principal Property or on any capital stock or indebtedness of any Subsidiary of the Guarantor held directly by the Guarantor,
the Guarantor shall secure the Notes equally and ratably with (or prior to) such indebtedness, so long as such indebtedness shall be so secured. This restriction will not apply to, and there shall be excluded in computing secured indebtedness for
the purpose of such restriction, indebtedness 

  

 10 

 
secured by (a) Liens on shares of stock or debt of any corporation existing at the time such corporation becomes a Subsidiary, (b) Liens in favor
of any Subsidiary, (c) Liens on property, shares of stock or debt existing at the time of acquisition thereof (including acquisition through merger or consolidation), purchase money mortgages and construction cost mortgages existing at or
incurred within 180 days of the time of acquisition thereof, (d) Liens existing on the first date on which any Notes are authenticated by the Trustee, (e) Liens under one or more credit facilities for indebtedness in an aggregate principal
amount not to exceed 3% of Consolidated Net Assets at any time outstanding, and (f) any extension, renewal or replacement of any debt secured by any Liens referred to in the foregoing clauses (a) through (e), inclusive. 
 ARTICLE FIVE 
 Additional Event of
Default 
 As contemplated by Section 8.01(8) of the Original Indenture, the following event, in addition to those set forth in
Section 8.01 of the Original Indenture, shall constitute an Event of Default with respect to the Notes for all purposes of the Indenture: 
 The Company fails to pay any Additional Payments on the Notes when any of such Additional Payments become due and payable, and continuance of such default for a period of 30 days. 
 ARTICLE SIX 
 Miscellaneous 
 Section 601. Effect On Original Indenture 
 The Second Supplemental Indenture is a supplement to the Original Indenture. As supplemented by this Second Supplemental Indenture, the Original Indenture is in all respects ratified, approved and confirmed, and the
Original Indenture and this Second Supplemental Indenture shall together constitute one and the same instrument. 
 Section 602.
Counterparts 
 This Second Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
 Section 603. Recitals
and Issuance of Notes 
 The recitals contained herein shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Second Supplemental Indenture. The Trustee shall not be accountable for the use or application by the Company of the Notes or the
proceeds thereof. 
  

 11 

 Section 604. Governing Law 
 This Second Supplemental Indenture shall be governed by and construed in accordance with the laws of the jurisdiction that govern the Original Indenture
and its construction. 
 [The balance of this page intentionally left blank.] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly
executed as of the date and year first written above. 
  

			
	 TECO FINANCE, INC.

		
	 By:
	 	 /s/ Sandra W. Callahan

	 Name:
	 	Sandra W. Callahan
	 Title:
	 	Vice President, Treasurer and Assistant Secretary
	
	 TECO ENERGY, INC.

		
	 By:
	 	 /s/ Sandra W. Callahan

	 Name:
	 	Sandra W. Callahan
	 Title:
	 	Vice President – Treasury and Risk Management (Treasurer and Chief Financial Officer) and Assistant Secretary
	
	 THE BANK OF NEW YORK TRUST
 COMPANY, N.A., AS
TRUSTEE

		
	 By:
	 	 /s/ Geraldine Creswell

	 Name:
	 	Geraldine Creswell
	 Title:
	 	Assistant Treasurer

 EXHIBIT A 
 FORM OF NOTE 
  

			
	 CUSIP NO.:             
	  	PRINCIPAL AMOUNT: $                     
	 REGISTERED NO.     
	  	

 TECO FINANCE, INC. 
 6.75% Notes Due 2015 
  

	x	Check this box if the Note is a Global Note. 

 Applicable
if the Note is a Global Note: 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS NOTE IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, OR ANY SUCCESSOR DEPOSITARY
(“DEPOSITARY”), AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. 
  

  
 ORIGINAL ISSUE DATE: 
 December 21, 2007 
 ISSUE PRICE: 100% (as a 
 percentage of principal amount) 
 STATED MATURITY: 
 May 1, 2015 
 INTEREST RATE: 6.75% per annum.

 INTEREST PAYMENT
DATES: 
 May 1 and November 1 of each year, commencing May 1, 2008. 
 SPECIFIED CURRENCY: U.S. dollars 
 AUTHORIZED 
 DENOMINATIONS: N/A (Only applicable if specified currency is other than U.S. dollars.) 

 SINKING FUND: None 
 YIELD TO MATURITY: N/A 
 REDEMPTION: Redeemable in whole or in
part, at the Company’s option, from time to time at the Redemption Price described on the reverse of this Note. 
 DEPOSITARY: The Depository
Trust Company, or any successor depositary. 

 TECO FINANCE, INC., a corporation duly organized and existing under the laws of the State of Florida
(herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum
set forth on the face of this Note on the Stated Maturity, upon the presentation and surrender hereof at the principal corporate trust office of The Bank of New York Trust Company, N.A., or its successor in trust (the “Trustee”) or
such other office as the Trustee has designated in writing, and to pay interest on the unpaid principal balance hereof at a rate per annum (computed based on a 360-day year consisting of twelve 30-day months) equal to the Interest Rate set forth on
the face of this Note for the period from the Original Issue Date to, but excluding, the Stated Maturity. 
 Interest will be payable on the
Interest Payment Dates to the Person in whose name this Note is registered at the close of business on the related Record Date, which is the fifteenth calendar day (whether or not a Business Day) immediately preceding the related Interest Payment
Date. In each case, payments shall be made in accordance with the provisions hereof, until the principal hereof is paid or duly made available for payment. 
 Payment of the principal of (and premium, if any) and any such interest on this Note shall be made in immediately available funds at the office or agency of the Company maintained for that purpose in the City of New
York in the State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 TECO Energy, Inc. a corporation duly organized and existing under the laws of the State of Florida (herein called the “Guarantor”), has fully and unconditionally guaranteed the payment of principal, premium,
if any, and interest on this Note. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 2 

 IN WITNESS WHEREOF, TECO FINANCE, INC. has caused this instrument to be duly executed. 
 Dated:                     , 20    

  

									
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION	 		 	TECO FINANCE, INC.
				
	This is one of the series designated therein referred to in the within-mentioned Indenture.	 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
				
	THE BANK OF NEW YORK TRUST COMPANY N.A.,	 		 		 	
	as Authenticating Agent for the Trustee	 		 		 	
					
	By:	 	
	 		 		 	
		 	        Authorized signatory	 		 		 	

 Note Signature Page 

 (REVERSE OF NOTE) 
 TECO FINANCE, INC. 
 6.75% Notes Due 2015 
 This Note is one of a duly authorized series of securities of the Company (herein called the “Notes”), issued and to be issued under an
Indenture dated as of December 21, 2007, as supplemented by the Second Supplemental Indenture, dated as of December 21, 2007 (as such has been or shall be amended or supplemented, the “Indenture”), among the Company, TECO
Energy, Inc. (the “Guarantor”) and The Bank of New York Trust Company, N.A., as trustee (the “Trustee”, which term includes any successor Trustee under the Indenture), to which Indenture reference is hereby made for
a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note
is one of the securities of the series designated on the face hereof. 
 DEFINITIONS 
 The following terms, as used herein, have the following meanings unless the context or use clearly indicates another or different meaning or intent:

 “Business Day” shall mean any day other than a Saturday or Sunday that is neither a legal holiday nor a day on which
banking institutions are authorized or obligated by law or executive order to close in the City of New York. 
 “Comparable Treasury
Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes; provided, however, that if the remaining term of the Notes to be redeemed is less than one year,
the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 
 “Comparable Treasury Price” means (1) the average of five Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if an
Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Depositary” shall mean The Depository Trust Company or any successor depositary. 
 “Independent
Investment Banker” means any of UBS Securities LLC, Citigroup Global Markets Inc. or Morgan Stanley & Co. Incorporated or any of their respective successors, as designated by the Company, or if all of those firms are unwilling or
unable to serve as such, an independent investment and banking institution of national standing appointed by the Company. 
 “Interest Payment Date” shall mean the date on which interest on this Note is paid, which date(s) are set forth on the face of this Note. 

 “Reference Treasury Dealer” means: 
 (i) UBS Securities LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated, and each of their respective successors; provided
that, if any such Reference Treasury Dealer ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and 
 (ii) up to two other Primary Treasury Dealers selected by the Company 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by an Independent Investment Banker, of the bid and
asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such
Redemption Date. 
 “Treasury Rate” means, as of any redemption date, the rate per annum equal to the semiannual equivalent
yield to maturity (computed as of the second business day immediately preceding that redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to
the Comparable Treasury Price for that redemption date. 
 INTEREST RATE 
 This Note will bear interest at the rate per annum (computed based on a 360-day year consisting of twelve 30-day months) identified on the face of this
Note. Except for the effect of any adjustment in the Interest Payment Date as provided in the following sentence, the amount of interest payable for any period shorter than a full six-month period for which interest is computed, will be computed on
the basis of the actual number of days elapsed in such a 180-day period. If any Interest Payment Date would otherwise be a day that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed to the next
succeeding Business Day, and no interest will accrue on such payment for the period from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such Interest Payment Date. 
 OPTIONAL REDEMPTION 
 The Notes are subject to redemption, in whole or in part,
at any time, and at the option of the Company, at a redemption price equal to the greater of: 
  

	 	(i)	100% of the principal amount of the Notes then outstanding to be redeemed, or 

  

	 	(ii)	the sum of the present values of the remaining scheduled payments of principal and interest on the Notes then outstanding to be redeemed (not including any portion of such payments
of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 50 basis points (0.50%), as calculated by an
Independent Investment Banker, 

 plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption Date (the “Redemption
Price”). 
 The Company will mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to
each Holder of the Notes to be redeemed. If the Company elects to partially redeem the Notes, the Trustee will select in a fair and appropriate manner the Notes to be redeemed. 
 Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Notes or portions
thereof called for redemption. 
 The Notes are not entitled to the benefit of any sinking fund or analogous provision. 
 TRANSFER OR EXCHANGE 
 As provided in
the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registerable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any
place where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Notes are issuable only in registered form without coupons and, except for such Notes issued in book-entry form, only in
denominations of $1,000 and any integral multiple of $1,000. As provided in the Indenture and subject to certain limitations herein and therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of this series and of
like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Note for registration of transfer, the Company or the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

 OTHER PROVISIONS 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each
series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected and of the Holders of
66 2/3% in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at
the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. To the extent
permitted by law, any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no
provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the
coin or currency, herein prescribed. 
 All terms used in this Note that are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 
 This Note shall be governed by and construed in accordance with the laws of The State of New York. 

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

													
	 TEN COM
	 		  		  		  	as tenants in common
	 TEN ENT
	 		  		  		  	as tenants by the entireties
	 JT TEN
	 		  		  		  	as joint tenants with right of survivorship and not as tenants in common
	UNIF GIFT MIN ACT—	 	                     	  	CUSTODIAN	  	                     	  	 under Uniform Gifts to Minors Act

		 	(Custodian)	  		  	  (Minor)	  		  		  	
					
		 	
                                    	  		  		  	
		 	(State)	  		  		  	

 Additional abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 
 Please Insert Social Security or 
 Other Identifying Number of Assignee 
  

					
	 	 		 	

  

 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  

  

 the within Security of TECO FINANCE, INC. and does
hereby irrevocably constitute and appoint                     
                    
                     attorney to transfer said Security on the books of the Company, with full power of substitution in the premises. 

 

									
	 Dated:
	 	  
	 		 	  
	 	
					
	  	 	  	 	  	 	  
 	 	  

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within
instrument in every particular, without alteration or enlargement or any change whatsoever. 

 EXHIBIT B-1 
 LEGEND FOR INITIAL NOTES 
 THE SECURITY (OR ITS PREDECESSOR) EVIDENCED BY THIS CERTIFICATE WAS ORIGINALLY
ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE U.S. SECURITIES ACT OF 1933, AND THE SECURITY EVIDENCED BY THIS CERTIFICATE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF REGISTRATION OR AN
APPLICABLE EXEMPTION FROM THE SECURITIES ACT. EACH PURCHASER OF THE SECURITY EVIDENCED BY THIS CERTIFICATE (1) BY ITS ACQUISITION OF THE SECURITY REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THE SECURITY EVIDENCED BY THIS CERTIFICATE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT, AND (2) UNDERSTANDS THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED BY THIS CERTIFICATE AGREES FOR THE BENEFIT OF THE
ISSUER AND THE GUARANTORS THAT (X) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(A) TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, IF AVAILABLE, (C) OUTSIDE THE UNITED STATES TO A PERSON THAT IS NOT A U.S. PERSON
(AS DEFINED IN RULE 902 UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3), OR (7) UNDER
THE SECURITIES ACT (AN “INSTITUTIONAL ACCREDITED INVESTOR”) THAT IS PURCHASING AT LEAST $100,000 OF SECURITIES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF AN INSTITUTIONAL ACCREDITED INVESTOR (AND BASED UPON AN OPINION OF COUNSEL IF THE
ISSUER SO REQUESTS), (2) TO THE ISSUER OR ANY OF ITS SUBSIDIARIES OR (3) UNDER AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION AND (Y) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED BY THIS CERTIFICATE OF THE RESALE RESTRICTIONS DESCRIBED IN (X) ABOVE. IN CONNECTION WITH
ANY TRANSFER OF THIS SECURITY WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY OR IF THE PROPOSED TRANSFEREE IS AN INSTITUTIONAL ACCREDITED INVESTOR, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUER
(1) A LETTER FROM THE TRANSFEREE WHICH SHALL PROVIDE, AMONG 

 
OTHER THINGS, THAT THE TRANSFEREE IS AN INSTITUTIONAL ACCREDITED INVESTOR AND THAT IT IS ACQUIRING THE SECURITIES FOR INVESTMENT PURPOSES AND NOT FOR
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, AND (2) SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS EITHER OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

 EXHIBIT B-2 
 REGULATION S LEGEND 
 THIS GLOBAL NOTE IS A GLOBAL NOTE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS GLOBAL NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE INDENTURE REFERRED TO BELOW. 
 NO BENEFICIAL OWNER OF THIS GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN
DELIVERED PURSUANT TO THE TERMS OF THE INDENTURE. 

 EXHIBIT C 
 FORM OF SUPPLEMENTAL COMPANY ORDER 
 TECO FINANCE, INC. 
 6.75% NOTES DUE 2015 
 SUPPLEMENTAL COMPANY
ORDER 
 Pursuant to Section 207 of the Second Supplemental Indenture, dated as of December 21, 2007, to the Indenture, dated as of
December 21, 2007, as amended, you are instructed to prepare and authenticate a Note, of the series identified above, in the principal amount of
$                    . [The Note is being delivered in exchange for issued and outstanding Notes of the series identified above.] 

IN WITNESS WHEREOF, I have hereunto set my hand this              day of
                    ,         . 
  

			
	 TECO FINANCE, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 EXHIBIT D 
 FORM OF CERTIFICATE TO BE DELIVERED 
 IN CONNECTION WITH TRANSFERS 
 PURSUANT TO REGULATION S 
 [Date] 
 The Bank of New York Trust Company, N.A. 
 [Address] 
 Fax: 
 Attention: Corporate Trust Department 
  

			
	 Re:
	 	TECO Finance, Inc. (the “Company”) 6.75% Notes due 2015 (the “Notes”)

 Ladies and Gentlemen: 
 In connection with our proposed sale of $[    ] aggregate principal amount of the Notes, we confirm that such sale has been effected pursuant to and in accordance with Regulation S under the U.S. Securities Act of 1933,
as amended (the “Securities Act”), and, accordingly, we represent that: 
 (1) the offer of the Notes was not made to a person in
the United States; 
 (2) either (a) at the time the buy offer was originated, the transferee was outside the United States or we and
any person acting on our behalf reasonably believed that the transferee was outside the United States, or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither we nor any person
acting on our behalf knows that the transaction has been prearranged with a buyer in the United States; 
 (3) no directed selling efforts
have been made in the United States in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S, as applicable; 
 (4)
the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act; and 
 (5) we have advised the
transferee of the transfer restrictions applicable to the Notes. 
 You, as Trustee, the Company, counsel for the Company and others are entitled to rely
upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate
have the meanings set forth in Regulation S. 
  

			
	 Very truly yours,

	 [Name of Transferor]

		
	 By:
	 	  

		 	Authorized SignatoryRegistration Rights Agreement dated as of December 21, 2007

 Exhibit 10.1 
 TECO ENERGY, INC. 
 TECO FINANCE, INC. 
 $171,827,000 7.20% Notes Due 2011 
 $236,240,000 7.00% Notes Due 2012

 $191,215,000 6.75% Notes Due 2015 
 $300,000,000 6.572% Notes Due 2017 
 REGISTRATION RIGHTS AGREEMENT 
 December 21, 2007 
 New York, New York

 Citigroup Global Markets Inc. 
 390 Greenwich Street

 New York, New York 10013 
 J.P. Morgan Securities Inc.

 270 Park Avenue 
 New York, New York 10017 
 UBS Securities LLC 
 677 Washington Blvd. 
 Stamford, Connecticut 06901 
 Merrill Lynch, Pierce, Fenner & Smith
Incorporated 
 4 World Financial Center 
 New York, New York
10080 
 as Dealer Managers 
 Ladies and Gentlemen: 

This Registration Rights Agreement (the “Agreement”) is made in connection with the Dealer Manager Agreement, dated as of
November 20, 2007 (the “Dealer Manager Agreement”), by and among TECO Finance, Inc., a Florida corporation (the “Company”), TECO Energy, Inc. a Florida corporation (the “Parent”) and Citigroup
Global Markets Inc., J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC (collectively, the “Dealer Managers”) in connection with the offer made by the Company to exchange
its 7.20% Notes due 2011, 7.0% Notes due 2012, 6.75% Notes due 2015 and 

  

 -1- 

 
6.572% Notes due 2017 (the “Initial Securities”) for up to U.S. $1,200,000,000 in the aggregate of the Parent’s issued and outstanding
7.20% Notes due 2011, 7.00% Notes due 2012 and 6.75% Notes due 2015, which are held by certain eligible holders. The Initial Securities will be issued pursuant to an Indenture, dated as of December 21, 2007 (the “Indenture”),
among the Company, as issuer, Parent, as guarantor, and The Bank of New York, as trustee (the “Trustee”). As an inducement to the Dealer Managers to enter into the Dealer Manager Agreement, the Company agrees with the Dealer
Managers, for the benefit of the holders of the Initial Securities and the holders of the Exchange Securities (defined below) (collectively, the “Holders”), as follows and the Parent agrees to cause the Company to perform its
obligations under this Agreement: 
 1. Registered Exchange Offer. Unless not permitted by applicable law, the Company and the Parent
shall prepare and, not later than 90 days (such 90th day being a “Filing Deadline”) after the date of the original issuance of the Initial Securities (the “Closing Date”), file with the Securities and Exchange
Commission (the “Commission”) a registration statement (the “Exchange Offer Registration Statement”) on an appropriate form under the Securities Act of 1933, as amended (the “Securities Act”), with
respect to a proposed offer (the “Registered Exchange Offer”) to the Holders of Transfer Restricted Securities (as defined in Section 6 hereof), who are not prohibited by any law or policy of the Commission from participating
in the Registered Exchange Offer, to issue and deliver to such Holders, in exchange for the Initial Securities, a like aggregate principal amount of debt securities of the Company issued under the Indenture (the “Exchange Notes”),
guaranteed, to the extent applicable, on an unsecured senior basis by Parent (the “Exchange Guarantees” and, together with the Exchanged Notes, the “Exchange Securities”) identical in all material respects to the
Initial Securities and registered under the Securities Act. The Company shall use its reasonable best efforts to (i) cause such Exchange Offer Registration Statement to become effective under the Securities Act as soon as practicable and in any
event within 240 days after the Closing Date (such 240th day being an “Effectiveness Deadline”) and (ii) keep the Exchange Offer Registration Statement effective for not less than 20 business days (or longer, if
required by applicable law) after the date notice of the Registered Exchange Offer is mailed to the Holders (such period being called the “Exchange Offer Registration Period”). 
 If the Company commences the Registered Exchange Offer, the Company (i) will be entitled to consummate the Registered Exchange Offer
20 business days after such commencement (provided that the Company has accepted all the Initial Securities theretofore validly tendered in accordance with the terms of the Registered Exchange Offer) and (ii) will be required to consummate
the Registered Exchange Offer no later than 30 business days after the date on which the Exchange Offer Registration Statement is declared effective (such 30th business day being the “Consummation Deadline”). 
 Following the declaration of the effectiveness of the Exchange Offer Registration Statement, the Company shall promptly commence the Registered Exchange
Offer, it being the objective of such Registered Exchange Offer to enable each Holder of Transfer Restricted Securities electing to exchange the Initial Securities for Exchange Securities (assuming that such Holder is not an affiliate of the Company
within the meaning of the Securities Act, acquires the 

  

 -2- 

 
Exchange Securities in the ordinary course of such Holder’s business and has no arrangements with any person to participate in the distribution of the
Initial Securities or the Exchange Securities and is not prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer) to trade such Exchange Securities from and after their receipt without any limitations or
restrictions under the Securities Act and without material restrictions under the securities laws of the several states of the United States. 
 The Company, the Dealer Managers and each Exchanging Dealer (as defined herein) acknowledge that, pursuant to current interpretations by the Commission’s staff of Section 5 of the Securities Act, in the absence of an applicable
exemption therefrom, each Holder that is a broker-dealer electing to exchange Initial Securities, acquired for its own account as a result of market making activities or other trading activities, for Exchange Securities (an “Exchanging
Dealer”), is required to deliver a prospectus containing the information set forth in (a) Annex A hereto on the cover, (b) Annex B hereto in the “Exchange Offer Procedures” section and the “Purpose of the Exchange
Offer” section, and (c) Annex C hereto in the “Plan of Distribution” section of such prospectus in connection with a sale of any such Exchange Securities received by such Exchanging Dealer pursuant to the Registered Exchange
Offer. 
 The Company shall use its best efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the
prospectus contained therein, in order to permit such prospectus to be lawfully delivered by all persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such persons must comply with such requirements
in order to resell the Exchange Securities; provided, however, that (i) in the case where such prospectus and any amendment or supplement thereto must be delivered by an Exchanging Dealer, such period shall be the lesser of
180 days and the date on which all Exchanging Dealers have sold all Exchange Securities held by them (unless such period is extended pursuant to Section 3(j) below) and (ii) the Company shall make such prospectus and any amendment or
supplement thereto available to any broker-dealer for use in connection with any resale of any Exchange Securities for a period of not less than 180 days after the consummation of the Registered Exchange Offer. 
 In connection with the Registered Exchange Offer, the Company shall: 
 (a) mail to each Holder a copy of the prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate
letter of transmittal and related documents; 
 (b) keep the Registered Exchange Offer open for not less than 20 business
days (or longer, if required by applicable law) after the date notice thereof is mailed to the Holders; 
 (c) utilize the
services of a depositary for the Registered Exchange Offer with an address in the Borough of Manhattan, The City of New York, which may be the Trustee or an affiliate of the Trustee; 
  

 -3- 

 (d) permit Holders to withdraw tendered Initial Securities at any time prior to the close
of business, New York time, on the last business day on which the Registered Exchange Offer shall remain open; and 
 (e)
otherwise comply with all laws applicable to the Registered Exchange Offer. 
 As soon as practicable after the close of the Registered
Exchange Offer, the Company shall: 
 (x) accept for exchange all the Initial Securities validly tendered and not withdrawn
pursuant to the Registered Exchange Offer; 
 (y) deliver to the Trustee for cancellation all the Initial Securities so
accepted for exchange; and 
 (z) cause the Trustee to authenticate and deliver promptly to each Holder of the Initial
Securities, Exchange Securities equal in principal amount to the Initial Securities of such Holder so accepted for exchange. 
 The Indenture
will provide that the Exchange Securities will not be subject to the transfer restrictions set forth in the Indenture and that all the Initial Securities and the Exchange Securities will vote and consent together on all matters as one class and that
none of the Initial Securities or the Exchange Securities will have the right to vote or consent as a class separate from one another on any matter. 
 Interest on each Exchange Security issued pursuant to the Registered Exchange Offer will accrue from the last interest payment date on which interest was paid on the Initial Securities surrendered in exchange
therefore or, if no interest has been paid on the Initial Securities, from the date of original issue of the Initial Securities. 
 Each
Holder participating in the Registered Exchange Offer shall be required to represent to the Company that at the time of the consummation of the Registered Exchange Offer (i) any Exchange Securities received by such Holder will be acquired in
the ordinary course of business, (ii) such Holder will have no arrangements or understanding with any person to participate in the distribution of the Initial Securities or the Exchange Securities within the meaning of the Securities Act,
(iii) such Holder is not an “affiliate,” as defined in Rule 405 of the Securities Act, of the Company or if it is an affiliate, such Holder will comply with the registration and prospectus delivery requirements of the Securities
Act to the extent applicable, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Exchange Securities and (v) if such Holder is a broker-dealer, that it will
receive Exchange Securities for its own account in exchange for Initial Securities that were acquired as a result of market-making activities or other trading activities and that it will be required to acknowledge that it will deliver a prospectus
in connection with any resale of such Exchange Securities. 
  

 -4- 

 Notwithstanding any other provisions hereof, the Company will ensure that (i) any Exchange Offer
Registration Statement and any amendment thereto and any prospectus forming part thereof and any supplement thereto complies in all material respects with the Securities Act and the rules and regulations thereunder, (ii) any Exchange Offer
Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading and (iii) any prospectus forming part of any Exchange Offer Registration Statement, and any supplement to such prospectus, does not include an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 2. Shelf Registration. If, (i) because of any change in law or in applicable
interpretations thereof by the staff of the Commission, the Company is not permitted to effect a Registered Exchange Offer, as contemplated by Section 1 hereof or (ii) any Holder of Transfer Restricted Securities notifies the Company prior
to the 20th business day following the consummation of the Registered Exchange Offer that (A) it is prohibited by law or policy of the Commission from
participating in the Registered Exchange Offer, (B) it may not resell the Exchange Securities acquired by it in the Registered Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer
Registration Statement is not appropriate or available for such resale or (C) that is a broker-dealer and owns the Initial Securities acquired directly from the Company or an affiliate of the Company, the Company shall take the following
actions (the date on which any of the conditions described in the foregoing clauses (i) through (ii) occur, including in the case of clause (ii) the receipt of the required notice, a “Trigger Date”):

 (a) The Company shall promptly (but in no event more than 90 days after the Trigger Date (such 90th day being a
“Filing Deadline”)) file with the Commission and thereafter use its best efforts to cause to be declared effective as soon as practicable and in any event no later than 120 days after the Trigger Date (such 120th day being an
“Effectiveness Deadline”) a registration statement (the “Shelf Registration Statement” and, together with the Exchange Offer Registration Statement, a “Registration Statement”) on an appropriate
form under the Securities Act relating to the offer and sale of the Transfer Restricted Securities by the Holders thereof from time to time in accordance with the methods of distribution set forth in the Shelf Registration Statement and
Rule 415 under the Securities Act (hereinafter, the “Shelf Registration”); provided, however, that no Holder shall be entitled to have the Initial Securities held by it covered by such Shelf Registration Statement
unless such Holder agrees in writing to be bound by all the provisions of this Agreement applicable to such Holder. 
 (b) The
Company shall use its reasonable best efforts to keep the Shelf Registration Statement continuously effective in order to permit the prospectus included therein to be lawfully delivered by the Holders of the relevant securities covered thereby, for
a period of two years (or for such longer period if extended pursuant to Section 3(j) below) from the date of its effectiveness or such shorter period that will terminate when 

  

 -5- 

 
all the securities covered by the Shelf Registration Statement (i) have been sold pursuant thereto or (ii) are no longer restricted securities (as
defined in Rule 144 under the Securities Act, or any successor rule thereof) (the “Shelf Registration Period”). The Company shall be deemed not to have used its reasonable best efforts to keep the Shelf Registration
Statement effective during the requisite period if it voluntarily takes any action that would result in Holders of Transfer Restricted Securities covered thereby not being able to offer and sell such Transfer Restricted Securities during that
period, unless such action is required by applicable law or otherwise permitted hereunder. 
 (c) Notwithstanding any other
provisions of this Agreement to the contrary, the Company shall cause the Shelf Registration Statement and the related prospectus and any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement, amendment or
supplement, (i) to comply in all material respects with the applicable requirements of the Securities Act and the rules and regulations of the Commission and (ii) other than with respect to information included therein in reliance upon and
in conformity with written information furnished to the Company by or on behalf of any Holder specifically for use therein (the “Holders’ Information”), not to contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the statements therein (in the case of the prospectus, in light of the circumstances under which they were made) not misleading. 
 3. Registration Procedures. In connection with any Shelf Registration contemplated by Section 2 hereof and, to the extent applicable, any
Registered Exchange Offer contemplated by Section 1 hereof, the following provisions shall apply: 
 (a) The Company
shall (i) furnish to the Dealer Managers, prior to the filing thereof with the Commission, a copy of the Registration Statement and each amendment thereof and each supplement, if any, to the prospectus included therein and, in the event that
the Dealer Managers (with respect to any portion of an unsold allotment from the original offering) are participating in the Registered Exchange Offer or the Shelf Registration Statement, the Company shall use its reasonable best efforts to reflect
in each such document, when so filed with the Commission, such comments as the Dealer Managers reasonably may propose; (ii) include the information set forth in Annex A hereto on the cover, in Annex B hereto in the “Exchange Offer
Procedures” section and the “Purpose of the Exchange Offer” section and in Annex C hereto in the “Plan of Distribution” section of the prospectus forming a part of the Exchange Offer Registration Statement and include the
information set forth in Annex D hereto in the Letter of Transmittal delivered pursuant to the Registered Exchange Offer; (iii) if requested by the Dealer Managers, include the information required by Items 507 or 508 of Regulation S-K under
the Securities Act, as applicable, in the prospectus forming a part of the Exchange Offer Registration Statement; (iv) include within the prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan of
Distribution,” reasonably acceptable to the Dealer Managers, which shall contain a summary statement of the positions taken or policies made by the staff of the Commission with respect to the potential “underwriter” status of any
broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange  

  

 -6- 

 
Act”)) of Exchange Securities received by such broker-dealer in the Registered Exchange Offer (a “Participating Broker-Dealer”),
whether such positions or policies have been publicly disseminated by the staff of the Commission or such positions or policies, in the reasonable judgment of the Dealer Managers based upon advice of counsel (which may be in-house counsel),
represent the prevailing views of the staff of the Commission; and (v) in the case of a Shelf Registration Statement, include the names of the Holders who propose to sell Transfer Restricted Securities pursuant to the Shelf Registration
Statement as selling securityholders. 
 (b) The Company shall give written notice to the Dealer Managers when the
Registration Statement or any amendment thereto has been filed with the Commission and shall give written notice to the Dealer Managers and (i) in the case of the Shelf Registration Statement the Holders of the Transfer Restricted Securities
covered thereby or (ii) in the case of the Exchange Offer Registration Statement, the Holders of the Initial Securities and any Participating Broker-Dealer from whom the Company has received prior written notice that it will be a Participating
Broker-Dealer in the Registered Exchange Offer (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to suspend the use of the prospectus until the requisite changes have been made): 
 (i) when the Registration Statement or any post-effective amendment thereto has become effective; 
 (ii) of any request by the Commission for amendments or supplements to the Registration Statement or the prospectus included therein or
for additional information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement or the initiation of any proceedings for that purpose; 
 (iv) of the receipt by the Company or its
legal counsel of any notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and 
 (v) of the happening of any event that requires the Company to make changes in the Registration Statement or the prospectus in order that
the Registration Statement or the prospectus do not contain an untrue statement of a material fact nor omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the prospectus, in light
of the circumstances under which they were made) not misleading. 
 (c) The Company shall make every reasonable effort to
obtain the withdrawal at the earliest possible time of any order suspending the effectiveness of the Registration Statement. 
  

 -7- 

 (d) The Company shall furnish to each Holder of securities included within the coverage
of the Shelf Registration, without charge, at least one copy of the Shelf Registration Statement and any post-effective amendment thereto, including financial statements and schedules, and, if the Holder so requests in writing, all exhibits thereto
(including those, if any, incorporated by reference). 
 (e) The Company shall deliver to each Exchanging Dealer and the
Dealer Managers, and to any other Holder who so requests, without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, including financial statements and schedules, and, if any Dealer
Manager or any such Holder requests, all exhibits thereto (including those incorporated by reference). 
 (f) The Company
shall, during the Shelf Registration Period, deliver to each Holder of securities included within the coverage of the Shelf Registration, without charge, as many copies of the prospectus (including each preliminary prospectus) included in the Shelf
Registration Statement and any amendment or supplement thereto as such person may reasonably request. The Company consents, subject to the provisions of this Agreement, to the use of the prospectus or any amendment or supplement thereto by each of
the selling Holders of the securities in connection with the offering and sale of the securities covered by the prospectus, or any amendment or supplement thereto, included in the Shelf Registration Statement. 
 (g) The Company shall deliver to the Dealer Managers, any Exchanging Dealer, any Participating Broker-Dealer and such other persons
required to deliver a prospectus following the Registered Exchange Offer, without charge, as many copies of the final prospectus included in the Exchange Offer Registration Statement and any amendment or supplement thereto as such persons may
reasonably request. The Company consents, subject to the provisions of this Agreement, to the use of the prospectus or any amendment or supplement thereto by the Dealer Managers, if necessary, any Participating Broker-Dealer and such other persons
required to deliver a prospectus following the Registered Exchange Offer in connection with the offering and sale of the Exchange Securities covered by the prospectus, or any amendment or supplement thereto, included in such Exchange Offer
Registration Statement. 
 (h) Prior to any public offering of the Transfer Restricted Securities pursuant to any Registration
Statement the Company shall register or qualify or cooperate with the Holders of the securities included therein and their respective counsel in connection with the registration or qualification of the Transfer Restricted Securities for offer and
sale under the securities or “blue sky” laws of such states of the United States as any Holder of the Transfer Restricted Securities reasonably requests in writing and do any and all other acts or things necessary or advisable to enable
the offer and sale in such jurisdictions of the securities covered by such Registration Statement; provided, however, that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it is
not then so qualified or (ii) take any action which would subject it to general service of process or to taxation in any jurisdiction where it is not then so subject. 
  

 -8- 

 (i) The Company shall cooperate with the Holders of the Transfer Restricted Securities to
facilitate the timely preparation and delivery of certificates representing the securities to be sold pursuant to any Registration Statement free of any restrictive legends and in such denominations and registered in such names as the Holders may
request a reasonable period of time prior to sales of the Transfer Restricted Securities pursuant to such Registration Statement. 
 (j) Upon the occurrence of any event contemplated by paragraphs (ii) through (v) of Section 3(b) above during the period for which the Company is required to maintain an effective Registration Statement, the Company shall
promptly prepare and file a post-effective amendment to the Registration Statement or a supplement to the related prospectus and any other required document so that, as thereafter delivered to purchasers of securities, the prospectus (other than the
Holders’ Information) will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein (in the case of the prospectus, in light of the
circumstances under which they were made) not misleading; provided, however, that the Company may delay filing and distributing any such supplement or amendment if there is a possible acquisition or business combination or other
transaction involving the Company that would require disclosure in the Registration Statement or the related prospectus, and the Company determines in the exercise of its reasonable judgment that such disclosure is not in the best interest of the
Company and its stockholders at such time; and provided, further, that the Company will not be entitled to delay filing or distributing any such supplement or amendment for more than thirty (30) days (whether or not
consecutive) in any period of three (3) consecutive months or more than ninety (90) days for all such periods in any period of twelve (12) consecutive months. If the Company notifies the Dealer Managers, the Holders of the Transfer
Restricted Securities and any known Participating Broker-Dealer in accordance with paragraphs (ii) through (v) of Section 3(b) above to suspend the use of the prospectus until the requisite changes to the prospectus have been made,
then the Dealer Managers, the Holders of the Transfer Restricted Securities and any such Participating Broker-Dealers shall suspend use of such prospectus and discontinue disposition of such securities until such Holder’s receipt of copies of
the supplemental or amended prospectus or until advised in writing by the Company that use of the applicable prospectus may be resumed, and the period of effectiveness of the Shelf Registration Statement provided for in Section 2(b) above and
the Exchange Offer Registration Statement provided for in Section 1 above shall each be extended by the number of days from and including the date of the giving of such notice to and including the date when the Dealer Managers, the Holders
of the Transfer Restricted Securities and any known Participating Broker-Dealer shall have received such amended or supplemented prospectus or authorization to resume use of the applicable prospectus pursuant to this Section 3(j);
provided, however, that such period of effectiveness including any such extension shall not exceed the holding period applicable to Rule 144(k) of the Securities Act or any substitution or modification thereof. 
 (k) Not later than the effective date of the applicable Registration Statement, the Company will provide a CUSIP number for the Exchange
Securities and provide the applicable trustee with printed certificates for such Exchange Securities, as the case may be, in a form eligible for deposit with The Depository Trust Company. 
  

 -9- 

 (l) The Company will comply with all rules and regulations of the Commission to the
extent and so long as they are applicable to the Registered Exchange Offer or the Shelf Registration and will make generally available to its security holders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an
earnings statement satisfying the provisions of Section 11(a) of the Securities Act, no later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective date of the Registration Statement, which statement shall cover such 12-month period. 
 (m) The Company shall cause the Indenture to be qualified under the Trust Indenture Act of 1939, as amended, in a timely manner and containing such changes, if any, as shall be necessary for such qualification. In the
event that such qualification would require the appointment of a new trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 
 (n) The Company may require each Holder of Transfer Restricted Securities to be sold pursuant to the Shelf Registration Statement to
furnish to the Company such information regarding the Holder and the distribution of the Transfer Restricted Securities as the Company may from time to time reasonably require for inclusion in the Shelf Registration Statement, and the Company may
exclude from such registration the Transfer Restricted Securities of any Holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. 
 (o) The Company shall enter into such customary agreements (including, if requested, an underwriting agreement in customary form) and take
all such other action, if any, as any Holder of the Transfer Restricted Securities shall reasonably request in order to facilitate the disposition of the Transfer Restricted Securities pursuant to any Shelf Registration. 
 (p) In the case of any Shelf Registration, the Company shall (i) make reasonably available for inspection by the Holders of the
Transfer Restricted Securities, any underwriter participating in any disposition pursuant to the Shelf Registration Statement and any attorney, accountant or other agent retained by the Holders of the Transfer Restricted Securities or any such
underwriter all relevant financial and other records, pertinent corporate documents and properties of the Company and (ii) cause the Company’s officers, directors, employees, accountants and auditors to supply all relevant information
reasonably requested by the Holders of the Transfer Restricted Securities or any such underwriter, attorney, accountant or agent in connection with the Shelf Registration Statement, in each case, as shall be reasonably necessary to enable such
persons, to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that the foregoing inspection and information gathering shall be coordinated on behalf of the Dealer
Managers and on behalf of the 

  

 -10- 

 
other parties, by one counsel designated by and on behalf of such other parties as described in Section 4 hereof; and, provided further,
that such persons shall maintain in confidence and use solely for the purposes of exercising their rights under this Agreement any information that is reasonably and in good faith designated by the Company as confidential at the time of delivery of
such information, until such time as (i) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (ii) disclosure of such information is required by law
(including any disclosure requirements pursuant to federal securities laws in connection with the filing of any Registration Statement or the use of any prospectus referred to in this Agreement), (iii) such information becomes generally
available to the public other than as a result of a disclosure or failure to safeguard by such person, or (iv) such information becomes available to such person from a source other than the Company and, to the knowledge of such person after
reasonable inquiry, such source is not bound by a confidentiality agreement. 
 (q) In the case of any Shelf Registration, the
Company, if requested by Holders of a majority in aggregate principal amount of Transfer Restricted Securities covered thereby, their counsel or managing underwriter, if any, shall cause its counsel to deliver opinions and updates thereof relating
to the Transfer Restricted Securities reasonably acceptable and in customary form addressed to such Holders and the managing underwriters, if any, thereof and dated, in the case of the initial opinion, the effective date of such Shelf Registration
Statement; (ii) its officers to execute and deliver all customary documents and certificates and updates thereof requested by any underwriters of the applicable securities; and (ii) its independent registered certified public accountants
to provide to the selling Holders of the applicable Transfer Restricted Securities and any underwriter therefor a comfort letter and updates thereof in customary form and covering matters of the type customarily covered in comfort letters in
connection with primary underwritten offerings, subject to receipt of appropriate documentation as contemplated, and only if permitted, by Statement of Auditing Standards No. 72. 
 (r) In the case of the Registered Exchange Offer, if requested by the Dealer Managers or any known Participating Broker-Dealer, the
Company shall cause (i) its counsel to deliver to the Dealer Managers or such Participating Broker-Dealer signed opinions and (ii) its independent registered certified public accountants to deliver to the Dealer Managers or such
Participating Broker-Dealer a comfort letter, each of which shall be in form, scope and substance reasonably satisfactory to the Dealer Managers, in the case of any underwritten registration, or covering such matters as are customarily covered in
opinions or comfort letter, as applicable, requested in connection with similar underwritten offerings and such other matters as may be reasonably requested by such Participating Broker Dealers and Managing Dealers. 
 (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Initial Securities by Holders to the Company (or to such
other Person as directed by the Company) in exchange for the Exchange Securities, the Company shall mark, or cause to be marked, on the Initial Securities so exchanged that such Initial Securities are being canceled in exchange for the Exchange
Securities in no event shall the Initial Securities be marked as paid or otherwise satisfied. 
  

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 (t) In the event that any broker-dealer registered under the Exchange Act shall
underwrite any Transfer Restricted Securities or participate as a member of an underwriting syndicate or selling group or “assist in the distribution” (within the meaning of the Conduct Rules (the “Rules”) of the National
Association of Securities Dealers, Inc. (“NASD”)) thereof, whether as a Holder of such securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company will assist such
broker-dealer in complying with the requirements of such Rules, including, without limitation, by (i) if such Rules, including Rule 2720, shall so require, engaging a “qualified independent underwriter” (as defined in
Rule 2720) to participate in the preparation of the Registration Statement relating to such securities, to exercise usual standards of due diligence in respect thereto and, if any portion of the offering contemplated by such Registration
Statement is an underwritten offering or is made through a placement or sales agent, to recommend the yield of such securities, (ii) indemnifying any such qualified independent underwriter to the extent of the indemnification of underwriters
provided in Section 5 hereof and (iii) providing such information to such broker-dealer as may be required in order for such broker-dealer to comply with the requirements of the Rules. 
 (u) The Company shall use its reasonable best efforts to take all other steps necessary to effect the registration of the Transfer
Restricted Securities covered by a Registration Statement contemplated hereby. 
 4. Registration Expenses. 
 (a) All expenses incident to the Company’s performance of and compliance with this Agreement will be borne by the Company, regardless
of whether a Registration Statement is ever filed or becomes effective, including without limitation; 
 (i) all registration
and filing fees and expenses; 
 (ii) all fees and expenses of compliance with federal securities and state “blue
sky” or securities laws; 
 (iii) all expenses of printing (including printing certificates for the Exchange Securities
to be issued in the Registered Exchange Offer and printing of prospectuses), messenger and delivery services and telephone; 
 (iv) all fees and disbursements of counsel for the Company; 
 (v) all application and filing fees in connection with
listing the Exchange Securities on a national securities exchange or automated quotation system pursuant to the requirements hereof; and 
  

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 (vi) all fees and disbursements of independent registered certified public accountants of
the Company (including the expenses of any special audit and comfort letters required by or incident to such performance). 
 Notwithstanding
the foregoing, in no event shall the Company be responsible for underwriting discounts or commissions or brokerage fees or commissions incurred by the selling Holders in connection with a Shelf Registration Statement. The Company will bear its
internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any person, including special experts,
retained by the Company. The Holders participating in any underwritten offering shall be responsible for any underwriting discounts and commissions and fees and expenses of counsel to the managing underwriters and the selling securityholders to the
extent not required to be paid by the Company pursuant to this Section 4. 
 (b) In connection with any Registration
Statement required by this Agreement, the Company will reimburse the Holders of Transfer Restricted Securities who are tendering Initial Securities in the Registered Exchange Offer and/or selling or reselling such securities pursuant to the
“Plan of Distribution” contained in the Exchange Offer Registration Statement or the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more than one counsel, who shall be Ropes & Gray
LLP unless another firm shall be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared. 
 5. Indemnification. 
 (a) The Company agrees to indemnify and hold harmless each Holder of the securities covered in any Registration Statement, any Participating Broker-Dealer and each person, if any, who controls such Holder or such Participating Broker-Dealer
within the meaning of the Securities Act or the Exchange Act (each Holder, any Participating Broker-Dealer and such controlling persons are referred to collectively as the “Indemnified Parties”) from and against any losses, claims,
damages or liabilities, joint or several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases and sales of the Transfer Restricted Securities) to which each
Indemnified Party may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a
material fact contained in a Registration Statement or prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a Shelf Registration, or arise out of, or are based upon, the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and shall reimburse, as incurred, the Indemnified Parties for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim, damage, liability or action in respect thereof; provided, however, that (i) the Company shall not be liable in any such case to the extent that such 

  

 -13- 

 
loss, claim, damage or liability arises out of or is based upon (A) any untrue statement or alleged untrue statement or omission or alleged omission
made in a Registration Statement or prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a Shelf Registration in reliance upon and in conformity with written information pertaining to such Holder and
furnished to the Company by or on behalf of such Holder specifically for inclusion therein or (B) any offer or sale of Transfer Restricted Securities covered by any Registration statement during a 30 day or 90 day period referenced in
Section 3(j) hereof of which the Holder has received written notice and (ii) with respect to any untrue statement or omission or alleged untrue statement or omission made in any preliminary prospectus relating to a Shelf Registration
Statement, the indemnity agreement contained in this subsection (a) shall not inure to the benefit of any Holder or Participating Broker-Dealer from whom the person asserting any such losses, claims, damages or liabilities purchased the
Transfer Restricted Securities concerned, to the extent that a prospectus relating to such securities was required to be delivered by such Holder or Participating Broker-Dealer under the Securities Act in connection with such purchase and any such
loss, claim, damage or liability of such Holder or Participating Broker-Dealer results from the fact that there was not sent or given to such person, at or prior to the written confirmation of the sale of such securities to such person, a copy of
the final prospectus if such loss, claim, damage or liability is determined by a court of competent jurisdiction to arise out of an untrue statement or omission that was corrected in the final prospectus and the Company had previously furnished
sufficient copies thereof to such Holder or Participating Broker-Dealer in sufficient time to enable such Holder or Participating Broker-Dealer to deliver to such person such prospectus; provided further, however, that this
indemnity agreement will be in addition to any liability which the Company may otherwise have to such Indemnified Party. The Company shall also indemnify underwriters, their officers and directors and each person who controls such underwriters
within the meaning of the Securities Act or the Exchange Act to the same extent as provided above with respect to the indemnification of the Holders of the securities if requested by such Holders. 
 (b) Each Holder of the securities covered under a Registration Statement, severally and not jointly, will indemnify and hold harmless the
Company and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act from and against any losses, claims, damages or liabilities or any actions in respect thereof, to which the Company or any such
controlling person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a
material fact contained in a Registration Statement or prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a Shelf Registration, or arise out of or are based upon the omission or alleged omission to
state therein a material fact necessary to make the statements therein not misleading, but in each case only to the extent that the untrue statement or omission or alleged untrue statement or omission was made in reliance upon and in conformity with
written information pertaining to such Holder and furnished to the Company by or on behalf of such Holder specifically for inclusion therein; and, subject to the limitation set forth immediately preceding this clause, shall reimburse, as incurred,
the Company for 

  

 -14- 

 
any legal or other expenses reasonably incurred by the Company or any such controlling person in connection with investigating or defending any loss, claim,
damage, liability or action in respect thereof. This indemnity agreement will be in addition to any liability which such Holder may otherwise have to the Company or any of its controlling persons. 
 (c) Promptly after receipt by an indemnified party under this Section 5 of notice of the commencement of any action or proceeding
(including a governmental investigation), such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party of the commencement thereof; but the omission
so to notify the indemnifying party will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. In case any such
action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other
indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and after
notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof the indemnifying party will not be liable to such indemnified party under this Section 5 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense thereof. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending
or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement (i) includes an unconditional release of such
indemnified party from all liability on any claims that are the subject matter of such action, and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.

 (d) If the indemnification provided for in this Section 5 is unavailable or insufficient to hold harmless an
indemnified party under subsections (a) or (b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect
thereof) referred to in subsection (a) or (b) above in such proportion as is appropriate to reflect the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the
statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof) as well as any other relevant equitable considerations. The relative fault of the parties shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or such Holder or such other indemnified
party, as the case may be, on the other, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid by an indemnified party as a result of the losses,
claims, damages or liabilities referred to in the first sentence of this subsection (d) 

  

 -15- 

 
shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any action
or claim which is the subject of this subsection (d). Notwithstanding any other provision of this Section 5(d), the Holders of the securities covered under any Registration Statement shall not be required to contribute any amount in excess
of the amount by which the net proceeds received by such Holders from the sale of the securities pursuant to such Registration Statement exceeds the amount of damages which such Holders have otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this paragraph (d), each person, if any, who controls such indemnified party within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as such indemnified
party and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as the Company. 
 (e) The agreements contained in this Section 5 shall survive the sale of the securities covered by a Registration Statement and shall
remain in full force and effect, regardless of any termination or cancellation of this Agreement or any investigation made by or on behalf of any indemnified party. 
 6. Additional Payments Under Certain Circumstances. 
 (a) Additional payment (the
“Additional Payments”) with respect to the Transfer Restricted Securities shall be assessed as follows if any of the following events occur (each such event in clauses (i) through (iv) below being herein called a
“Registration Default”): 
 (i) any Registration Statement required by this Agreement is not filed with the
Commission on or prior to the applicable Filing Deadline; 
 (ii) any Registration Statement required by this Agreement is not
declared effective by the Commission on or prior to the applicable Effectiveness Deadline; 
 (iii) the Registered Exchange
Offer has not been consummated on or prior to the Consummation Deadline; or 
 (iv) any Registration Statement required by
this Agreement has been declared effective by the Commission but (A) such Registration Statement thereafter ceases to be effective or (B) such Registration Statement or the related prospectus ceases to be usable (except as permitted in
paragraph (b)) in connection with resales of Transfer Restricted Securities during the periods specified herein because either (1) any event occurs as a result of which the related prospectus forming part of such Registration Statement would
include any untrue statement of a material fact or omit to state any material fact necessary 

  

 -16- 

 
to make the statements therein in the light of the circumstances under which they were made not misleading, or (2) it shall be necessary to amend such
Registration Statement or supplement the related prospectus, to comply with the Securities Act or the Exchange Act or the respective rules thereunder. 
 Each of the foregoing will constitute a Registration Default whatever the reason for any such event and whether it is voluntary or involuntary or is beyond the control of the Company or pursuant to operation of law or
as a result of any action or inaction by the Commission. 
 Additional Payment shall accrue on the Transfer Restricted Securities over and
above the interest set forth in the title of the Transfer Restricted Securities from and including the date on which any such Registration Default shall occur to but excluding the date on which all such Registration Defaults have been cured, at a
rate of 0.25% per annum (the “Additional Payment Rate”) for the first 90-day period immediately following the occurrence of such Registration Default. The Additional Payment Rate shall increase by an additional 0.25% per
annum with respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum Additional Payment Rate of 1.0% per annum. 
 (b) A Registration Default referred to in Section 6(a)(iv) hereof shall be deemed not to have occurred and be continuing in relation
to a Shelf Registration Statement or the related prospectus if (i) such Registration Default has occurred solely as a result of (x) the filing of a post-effective amendment to such Shelf Registration Statement to incorporate annual audited
financial information with respect to the Company where such post-effective amendment is not yet effective and needs to be declared effective to permit Holders to use the related prospectus or (y) other material events, with respect to the
Company that would need to be described in such Shelf Registration Statement or the related prospectus and (ii) in the case of clause (y), the Company is either proceeding promptly and in good faith to amend or supplement such Shelf
Registration Statement and related prospectus to describe such events or the Company has delayed filing and distributing such amendment or supplement pursuant to the first and second provisos of the first sentence of Section 3(j) of this
Agreement; provided, however, that in any case if such Registration Default occurs for a continuous period in excess of 30 days, Additional Payments shall be payable in accordance with the above paragraph from the day such
Registration Default occurs until such Registration Default is cured. 
 (c) Any amounts of Additional Payments due pursuant
to Section 6(a) will be payable in cash on the regular interest payment dates with respect to the Transfer Restricted Securities. The amount of Additional Payments will be determined by multiplying the applicable Additional Payment Rate by the
principal amount of the Transfer Restricted Securities and further multiplied by a fraction, the numerator of which is the number of days such Additional Payment Rate was applicable during such period (determined on the basis of a 360-day year
comprised of twelve 30-day months), and the denominator of which is 360. 
  

 -17- 

 (d) “Transfer Restricted Securities” means each Initial Security or
Exchange Security until (i) the date on which such Security has been exchanged by a person other than a broker-dealer for a freely transferable Exchange Security in the Registered Exchange Offer, (ii) following the exchange by a
broker-dealer in the Registered Exchange Offer of an Initial Security for an Exchange Security, the date on which such Exchange Security is sold to a purchaser who receives from such broker-dealer on or prior to the date of such sale a copy of the
prospectus contained in the Exchange Offer Registration Statement, (iii) the date on which such security has been effectively registered under the Securities Act and disposed of in accordance with the Shelf Registration Statement or
(iv) the date on which such Security is distributed to the public pursuant to Rule 144 under the Securities Act or is saleable pursuant to Rule 144(k) under the Securities Act. 
 7. Rules 144 and 144A. The Company shall use its reasonable best efforts to file the reports required to be filed by it under the Securities
Act and the Exchange Act in a timely manner and, if at any time the Company is not required to file such reports, it will, upon the request of any Holder of Transfer Restricted Securities, make publicly available other information so long as
necessary to permit sales of their securities pursuant to Rules 144 and 144A. The Company covenants that it will take such further action as any Holder of Transfer Restricted Securities may reasonably request, all to the extent required from
time to time to enable such Holder to sell Transfer Restricted Securities without registration under the Securities Act within the limitation of the exemptions provided by Rules 144 and 144A (including the requirements of Rule 144A(d)(4)).
The Company will provide a copy of this Agreement to prospective purchasers of Initial Securities identified to the Company by the Dealer Managers upon request. Upon the request of any Holder of Initial Securities, the Company shall deliver to such
Holder a written statement as to whether it has complied with such requirements. Notwithstanding the foregoing, nothing in this Section 7 shall be deemed to require the Company to register any of its Initial Securities pursuant to the Exchange
Act. 
 8. Underwritten Registrations. If any of the Transfer Restricted Securities covered by any Shelf Registration are to be sold
in an underwritten offering, the investment banker or investment bankers and manager or managers that will administer the offering (“Managing Underwriters”) will be selected by the Holders of a majority in aggregate principal amount
of such Transfer Restricted Securities to be included in such offering, subject to the approval of the Company (which shall not be unreasonably withheld) and provided that at least 10% of the outstanding Transfer Restricted Securities are
included in such underwritten offering. The Company shall not be obligated to arrange for more than two underwritten offerings during the Shelf Registration Period. 
 No person may participate in any underwritten registration hereunder unless such person (i) agrees to sell such person’s Transfer Restricted Securities on the basis reasonably provided in any underwriting
arrangements approved by the persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the
terms of such underwriting arrangements. 
  

 -18- 

 9. Miscellaneous. 
 (a) Remedies. The Company acknowledges and agrees that any failure by the Company to comply with its obligations under
Section 1 and 2 hereof may result in material irreparable injury to the Dealer Managers or the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the
event of any such failure, the Dealer Managers or any Holder may obtain such relief as may be required to specifically enforce the Company’s obligations under Sections 1 and 2 hereof. The Company further agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate. 
 (b) No Inconsistent Agreements. The Company
will not on or after the date of this Agreement enter into any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The rights
granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s securities under any agreement in effect on the date hereof. 
 (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given, except by the Company and the written consent of the Holders of a majority in principal amount of the Initial Securities (or, after the consummation of any Registered Exchange Offer, in
accordance with Section 1 hereof, of Exchange Securities) affected by such amendment, modification, supplement, waiver or consents. Without the consent of the Holder of each Security, however, no modification may change the provisions relating
to the Additional Payment. 
 (d) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand delivery, first-class mail, facsimile transmission, or air courier which guarantees overnight delivery: 
 (1) if to a Holder, at the most current address given by such Holder to the Company. 
 (2) if to the Dealer
Managers; 
 Citigroup Global Markets Inc. 
 390 Greenwich Street, 4th Floor 
 New York, New York 10013 
 Attention: Liability Management Desk 
 Facsimile: (212) 723-8971 
 J.P. Morgan Securities Inc. 
 270 Park Avenue 
 New York, New York 10017

 Attention: Liability Management Group 
 Facsimile: (212) 834-6170 
  

 -19- 

 Merrill Lynch, Pierce, Fenner & Smith Incorporated 
 4 World Financial Center 
 New York, NY
10080 
 Attention: Global Liability Management 
 Facsimile: (212) 738-2227 
 UBS Securities LLC 
 677 Washington Blvd. 
 Stamford, Connecticut
06901 
 Attention: Liability Management Group 
 Facsimile: (203) 719-7139 
 with a copy to: 
 Ropes & Gray LLP 
 One
International Place 
 Boston, MA 02110 
 Attention: David A. Fine 
 Facsimile: (617) 951-7050 
 (3) if to the Company, at its address as follows: 
 TECO Finance, Inc. 
 c/o TECO Energy, Inc. 
 702 North Franklin Street 
 Tampa, FL 33602 
 Attention: Corporate Secretary 
 with a copy
to: 
 Edwards Angell Palmer & Dodge LLP 
 111 Huntington Avenue 
 Boston, MA 02199-4111 

			
	 Attention:	 	Stanley Keller
		 	John W. Pickett

 (4) if to the Parent, at its address as follows: 
 TECO Energy, Inc. 
 702 North Franklin
Street 
 Tampa, FL 33602 
 Attention: Corporate Secretary 
  

 -20- 

 with a copy to: 
 Edwards Angell Palmer & Dodge LLP 
 111 Huntington Avenue 
 Boston, MA 02199-4111 

			
	 Attention:	 	Stanley Keller
		 	John W. Pickett

 All such notices and communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; three business days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged by recipient’s facsimile machine operator, if sent by facsimile transmission; and on
the day delivered, if sent by overnight air courier guaranteeing next day delivery. 
 (e) Third Party
Beneficiaries. The Holders shall be third party beneficiaries to the agreements made hereunder between the Company, on the one hand, and the Dealer Managers, on the other hand, and shall have the right to enforce such agreements directly to the
extent they may deem such enforcement necessary or advisable to protect their rights or the rights of Holders hereunder. 
 (f) Successors and Assigns. This Agreement shall be binding upon the Company and its successors and assigns. 
 (g) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. 
 (h) Headings. The headings in this Agreement are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof. 
 (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 
 (j) Severability. If any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 
 (k)
Securities Held by the Company. Whenever the consent or approval of Holders of a specified percentage of principal amount of the Initial Securities or the Exchange Securities is required hereunder, Initial Securities or the Exchange
Securities, as applicable, held by the Company or its affiliates (other than subsequent Holders of Initial Securities or Exchange Securities, if such subsequent Holders are deemed to be 

  

 -21- 

 
affiliates solely by reason of their holdings of such securities) shall not be counted in determining whether such consent or approval was given by the
Holders of such required percentage. 
 (l) Submission to Jurisdiction; Waiver of Jury Trial. The Company hereby
submits to the non-exclusive jurisdiction of the federal and state courts in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. Each of the
parties hereto hereby waives all right to trial by jury in any proceeding (whether based upon contract, tort or otherwise) in any way arising out of or relating to this Agreement. Each of the Parties hereto agrees that a final judgment in any such
proceeding brought in any such court shall be conclusive and binding upon such party and may be enforced in any other courts in the jurisdiction of which such party is or may be subject, by suit upon such judgment. 
  

 -22- 

 If the foregoing is in accordance with your understanding of our agreement, please sign and return to the
Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between the Dealer Managers, on the one hand, and the Company and the Parent, on the other, in accordance with its terms.

  

			
	Very truly yours,
	
	TECO FINANCE, INC.
		
	By	 	 /s/ Sandra W. Callahan

	Name:	 	Sandra W. Callahan
	Title:	 	Vice President, Treasurer and Assistant Secretary
	
	TECO ENERGY, INC.
		
	By	 	 /s/ Sandra W. Callahan

	Name:	 	Sandra W. Callahan
	Title:	 	Vice President – Treasury and Risk Management (Treasurer and Chief Financial Officer) and Assistant Secretary

  

			
	The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first above written.
	
	Citigroup Global Markets Inc.
		
	By:	 	 /s/ Kevin Mills

	Name:	 	Kevin Mills
	Title:	 	Director
	
	J.P. Morgan Securities Inc.
		
	By:	 	 /s/ Maria Sramek

	Name:	 	Maria Sramek
	Title:	 	Executive Director

  

 -23- 

			
	The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first above written.
	
	Merrill Lynch, Pierce, Fenner & Smith Incorporated
		
	By:	 	 /s/ Karl Newlis

	Name:	 	Karl Newlis
	Title:	 	Director

  

 -24- 

			
	The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first above written.
	
	UBS Securities LLC
		
	By:	 	 /s/ Ben Oren

	Name:	 	Ben Oren
	Title:	 	Director
		
	By:	 	 /s/ Jeffrey Dorsal

	Name:	 	Jeffrey Dorsal
	Title:	 	Executive Director

  

 -25- 

 ANNEX A 
 Each broker-dealer that receives Exchange Securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Securities. The
Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. This Prospectus, as it may be amended
or supplemented from time to time, may be used by a broker-dealer in connection with resales of Exchange Securities received in exchange for Initial Securities where such Initial Securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed that, for a period of 180 days after the Expiration Date (as defined herein), it will make this Prospectus available to any broker-dealer for use in connection with
any such resale. See “Plan of Distribution.” 

 ANNEX B 
 Each broker-dealer that receives Exchange Securities for its own account in exchange for Initial Securities, where such Initial Securities were acquired by such broker-dealer as a result of market-making activities or
other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Securities. See “Plan of Distribution.” 

 ANNEX C 
 PLAN OF DISTRIBUTION 
 Each broker-dealer that
receives Exchange Securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Securities. This Prospectus, as it may be amended or supplemented from
time to time, may be used by a broker-dealer in connection with resales of Exchange Securities received in exchange for Initial Securities where such Initial Securities were acquired as a result of market-making activities or other trading
activities. The Company has agreed that, for a period of 180 days after the Expiration Date, it will make this prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. In addition, until
                    , 200    , all dealers effecting transactions in the Exchange Securities may be required to deliver a
prospectus.(1) 
 The Company will not receive any proceeds from any sale of Exchange Securities by broker-dealers. Exchange Securities received by broker-dealers for
their own account pursuant to the Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the Exchange Securities or a combination of such
methods of resale, at market prices prevailing at the time of resale, at prices related to such prevailing market prices or negotiated prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive
compensation in the form of commissions or concessions from any such broker-dealer or the purchasers of any such Exchange Securities. Any broker-dealer that resells Exchange Securities that were received by it for its own account pursuant to the
Exchange Offer and any broker or dealer that participates in a distribution of such Exchange Securities may be deemed to be an “underwriter” within the meaning of the Securities Act and any profit on any such resale of Exchange Securities
and any commission or concessions received by any such persons may be deemed to be underwriting compensation under the Securities Act. The Letter of Transmittal states that, by acknowledging that it will deliver and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. 
 For a period of
180 days after the Expiration Date the Company will promptly send additional copies of this Prospectus and any amendment or supplement to this Prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. The
Company has agreed to pay all expenses incident to the Exchange Offer (including the expenses of one counsel for the Holders of the Initial Securities) other than commissions or concessions of any brokers or dealers and will indemnify the Holders of
the Initial Securities (including any broker-dealers) against certain liabilities, including liabilities under the Securities Act. 

	(1)	In addition, the legend, if any, required by Item 502(b) of Regulation S-K will appear on the inside front cover page of the Exchange Offer prospectus below the Table of
Contents. 

 ANNEX D 
 
 ̈    CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY
AMENDMENTS OR SUPPLEMENTS THERETO. 
  

					
		 	Name:	 	  

		 	Address:	 	  

 If the undersigned is not a broker-dealer, the undersigned represents that it is not engaged in, and does not
intend to engage in, a distribution of Exchange Securities. If the undersigned is a broker-dealer that will receive Exchange Securities for its own account in exchange for Initial Securities that were acquired as a result of market-making activities
or other trading activities, it acknowledges that it will deliver a prospectus in connection with any resale of such Exchange Securities; however, by so acknowledging and by delivering a prospectus, the undersigned will not be deemed to admit that
it is an “underwriter” within the meaning of the Securities Act.

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