Document:

Retention and Voluntary Retirement Agreement

 Exhibit 10.4 
 TECO ENERGY, INC. 
 RETENTION AND VOLUNTARY RETIREMENT AGREEMENT AND GENERAL RELEASE 

THIS RETENTION AND VOLUNTARY RETIREMENT AGREEMENT AND GENERAL RELEASE (the
“Agreement”) is made and entered into this 11th day of June, 2007, by and between TECO ENERGY, INC. (the
“Company”), the principal place of business which is located at 702 North Franklin Street, Tampa, Florida 33602 and Sheila M. McDevitt (the “OFFICER”), residing at 16750 Gulf Boulevard, #215, Redington Beach,
Fl 33708. 
 WHEREAS, the Officer is currently employed in the position of Senior Vice President – General Counsel and
Chief Legal Officer; and 
 WHEREAS, after 26 years of credited employment with and service to TECO ENERGY, INC., the Officer
has elected to retire commencing on July 1, 2007 and; 
 WHEREAS, the Company intends to restructure the position as presently
constituted and eliminate one officer level position in the Officer’s direct reporting structure; and 
 WHEREAS, the Corporation
offered retirement-inducement packages to retirement-eligible officers in October 2002, November 2003 and October 2004 associated with Officer level position eliminations; and 
 WHEREAS, the Officer was eligible to receive each of those packages but was asked, in each case, by the CEO to remain in her present position in
order to complete current legal matters that were of major significance to the Company and to assume certain additional responsibilities in return for the opportunity to receive a similar package at a later date if approved by the Board’s
Compensation Committee; and 
 WHEREAS, in recognition of the Officer’s foregoing the three earlier packages and for her
continued employment and completion of the aforesaid legal matters and the assumption of other responsibilities, the Company desires to now offer her a similar package and to obtain the benefit of her services as a consultant on a limited basis to
complete certain outstanding matters, to assist in general counsel transition matters following her retirement and other assignments that may be appropriate and accepted by her; and 
 WHEREAS, the parties have mutually agreed to enter into the following Retention and Voluntary Retirement Agreement and General Release (the
“Agreement”). 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is hereby agreed as
follows: 
 1. RETIREMENT DATE 
 (a) The Officer hereby notifies the Company of her intention to apply for retirement and hereby elects to retire on July 1, 2007 (the “Retirement Date”). 

 (b) Prior to her Retirement Date, the Officer agrees to submit her resignation as an Officer of the
Company, effective on the Retirement Date by execution and delivery of a resignation letter in the form attached hereto. 
 2. RETENTION
RECOGNITION PAYMENTS AND BENEFITS 
 (a) During the month of July 2007, the Company shall pay to the Officer a one-time lump sum Retention
Recognition Payment equal to the present value of the enhanced portion of retirement benefits under the Officer’s Supplemental Executive Retirement Plan (the “SERP”). The enhanced portion represents two years added to the
Officer’s age and length of service calculated based on the Officer’s Final Average Earnings as of her Retirement Date. The payment made to the Officer shall be reduced to reflect withholding required FICA and federal withholding taxes.

 (b) During the month of July 2007, the Company shall pay to the Officer an additional one-time lump sum Retention Recognition Payment
equal to one and one-half times the amount of the Officer’s base salary and target bonus on her Retirement Date. The payment made to the Officer shall be reduced to reflect withholding required FICA and federal withholding taxes regardless of
whether or not the Officer is employed by another employer. 
 (c) During the month of July, 2007, the Company shall pay to the Officer a
lump-sum payment for her accrued but unused vacation allowance for 2007, plus the value of 80 hours vacation carried over for 2006 plus the value of 100 hours vacation accrual for 2008 as specified in Administrative Policy I.3.1, Paragraph 111.B
less the required FICA and federal withholding taxes. 
 (d) Commencing on the Officer’s Retirement Date, the Officer shall be entitled
to all retirement and associated benefits due such Officer pursuant to Company’s retirement and other benefit plans (the “Plans”). Nothing contained herein shall be construed to affect the Officer’s rights as a retiree
under such Plans. 
 (e) During the month of July, 2007 the Company will pay $2,500.00 and during the month of January, 2008 the Company will
pay $1,500.00 for tax accounting services for the Officer less the required FICA and federal withholding taxes. 
 (f) All of the
Officer’s outstanding TECO Energy, Inc. stock options shall vest immediately after her retirement and shall remain exercisable on or before the expiration date specified for each applicable stock option grant notwithstanding the Officer’s
retirement. 
 (g) For purposes of the Officer’s TECO Energy, Inc. time-based restricted stock grants granted to the Officer under the
2004 Equity Incentive Plan, all restrictions shall terminate, and all of such restricted stock shall vest for the benefit of the Officer immediately after her retirement subject to the provisions of the relevant grant document. 
 (h) For purposes of the Officer’s TECO Energy, Inc. performance share grants granted to the Officer under the 2004 Equity Incentive Plan, the
Performance Period shall end immediately after her retirement and the resulting number of shares shall be issued to the Officer as set forth in the relevant grant document. 
 (i) Company shall pay to the Officer her target award amount for her 2007 incentive pay. Such payment shall be made in January, 2008 following the TECO
Energy Board meeting held in January. 
  

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 (j) At the Officer’s election the Company will provide medical and dental coverage through the
Company’s medical program for the Officer at no cost to the Officer until December 31, 2008. After that date the Officer may continue to receive coverage pursuant to the normal terms of the retiree medical program as it is amended from
time to time. 
 (k) The Company and the Officer agree that coincident with execution and delivery of this agreement, they will enter in a
consulting agreement for at least six (6) months to provide services to the company on at least a one-half time basis to bring to conclusion certain legal matters, assist in the transition of the new general counsel and compliance and corporate
secretary, continued certain oversight of corporate communications, and other matters that are set forth in the Consulting Agreement or that may be assigned to and accepted by her from time to time. 
 (l) The Officer shall be entitled to maintain her membership in the University Club at her own expense until such time as she decides to resign her
membership after having given reasonable notice to the Company. Additionally, the Officer shall be entitled to keep the Treo cellular phone and related card scan and “hot sync” equipment and connections and any computer-related equipment
supplied by the Company and in her possession outside the Company on the Retirement Date. 
 3. CONFIDENTIALITY AND OTHER CONDUCT 

 (a) The Officer recognizes and acknowledges that during the course of her employment with the Company, she has been exposed to, has had
access to, and has had disclosed to her information and material developed specifically by and for the benefit of the Company and sensitive and/or proprietary information, business planning and operations information, strategic, financial, business
and plant security information, business practices and procedures, and specific Company procedures related thereto and to other matters, including without limitation trade secrets, trademarks, service marks, trademarked and copyrighted material,
patents, patents pending, financial and data processing information, data bases, interfaces, and/or source codes, Company procedures, specifications, commercial information or other Company or Customer records as described in Administrative Policies
I.8.7. and 1.12, including any information or material, belonging to others which has been provided to the Company on a confidential basis, all of which are hereinafter referred to as “Confidential Information.” 
 (b) The Officer agrees to maintain, in strict confidence, the Confidential Information and agrees not to disclose to any third party or to use same to
benefit herself or any third party (other than Officer’s financial and legal advisors) the Confidential Information or the fact of, the terms of or the amount of the consideration paid as part of this Agreement. The Officer shall be prohibited
from using, duplicating, reproducing, copying, distributing, disclosing such Confidential Information regardless of form or purpose, including without limitation, verbal disclosure, data, documents, electronic media or any other media form. The
Officer agrees to abide by the non-disclosure and non-use obligations relating to Company records, information, and property contained in the Company’s Standards of Integrity. 
 (c) The restrictions on the Officer’s disclosure of Confidential Information set out herein do not apply to such information which (i) is now,
or which hereafter, through no act or failure to act on the part of the Officer, becomes generally known or available to the public; or (ii) is required to be disclosed by a court of competent jurisdiction or by an administrative or
quasi-judicial body having jurisdiction over the subject matter after the Officer has given the Company reasonable prior notice of such disclosure requirement. 
 (d) The Officer and the Company agree to conduct themselves in all actions or conduct relating to the other in a manner 

  

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consistent with existing Company policy and to refrain from engaging in any conduct which holds up to ridicule in the community or which jeopardizes or
adversely affects the business or reputation of either the Company or the Officer. 
 (e) For the purpose of this Section the term
“Company” shall mean TECO Energy, Inc., Tampa Electric Company, and all of their subsidiaries and affiliates. 
 4. RELEASE OF
CLAIMS 
 (a) For and in consideration of the payments and increased benefits made to the Officer pursuant to Section 2. hereof and
for $10.00 paid by the Officer to the Company and the covenants of the Officer contained herein, the Officer and the Company each acknowledge that the payments being made as consideration are in addition to anything of value to which either is
entitled and accordingly hereby releases and agrees to hold harmless the other from all claims, rights, causes of action or liabilities of whatever nature, whether at law or in equity, or damages (compensatory, consequential or punitive) against the
other which the Officer or the Company may now have or hereafter can, shall or may have for, upon, or by reason of any matter, cause or thing, whatsoever, which has happened, developed or occurred on or before the date of this Agreement, arising out
of Officer’s and the Company’s employment relationship (other than Workers’ Compensation claims pending or otherwise related to such employment) or termination of employment from the Company or retirement hereunder, including, but not
limited to, and in the Officer’s case, claims for wrongful termination, discrimination, retaliation, invasion of privacy, defamation, slander, and/or intentional infliction of emotional distress, any rights to a grievance proceeding and those
arising under any federal, state, or local discrimination or civil rights or labor laws and/or rules or regulations, and/or common law, whether in contract or in tort, as they relate to the employment relationship of the Officer/Employer (including
without limitation claims arising under the Age Discrimination in Employment Act, the Older Workers’ Benefit Protection Act (29 USC §626), Title VII of the Civil Rights Act of 1964, Worker Adjustment and Retraining Notification Act (29 USC
§2101-2109), or the Employee Retirement Income Security Act, as such laws have been or may be amended from time to time) and any other claims of any nature arising during or in connection with the employment relationship. 
 (b) The Company and the Officer agree that by entering into this Agreement the Officer does not waive claims that may arise after the date of execution
of this Agreement. 
 (c) Each of the Officer and the Company acknowledge and agree that this Agreement shall not be construed as an
admission by either of any improper or unlawful actions or of any wrongdoing whatsoever against the other or any other persons, and each of them expressly denies any wrongdoing whatsoever against each other. 
 (d) For the purposes of this Section 4 (a) through (d), “Company” shall include TECO Energy, Inc., Tampa Electric Company, their
subsidiaries and affiliates, and any agent, officer, director, or employee thereof, and “Officer” shall include the Officer, her heirs, personal representatives, executors, administrators, successors and assigns. 
  

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 5. REMEDY AT LAW INSUFFICIENT 
 Officer acknowledges that damages at law will be an insufficient remedy if Officer violates the terms of this Agreement, and that the Company would suffer
a decrease in value and irreparable damage as a result of such violation. Accordingly, on a violation of any of the covenants set forth herein, particularly those contained in Section 3., the Company, without excluding or limiting any other
available remedy, shall be entitled to the following remedies: 
 (1) Upon posting a reasonable bond and filing with a court of competent
jurisdiction an appropriate pleading and affidavit specifying each obligation breached by Officer, automatic entry by a court in accordance with Florida Statute §542.335(1)(j) having jurisdiction of an order granting an injunction or specific
performance compelling Officer to comply with that obligation, without proof of monetary damage or an inadequate remedy at law; and 
 (2)
Reimbursement of all costs and expenses incurred by the Company in enforcing those obligations or otherwise defending or prosecuting any litigation arising out of Officer’s obligations, including premiums for bonds, fees for experts and
investigators, and legal fees, cost, and expenses incurred before a lawsuit is filed and in trial, appellate, bankruptcy and judgment-execution proceedings. 
 The foregoing remedies are cumulative to all other remedies afforded by law or in equity, and the Company may exercise any such remedy concurrently, independently or successively. If for any reason a court of
competent jurisdiction determines that the Company is not entitled to an injunction based on a breach of a material obligation under this Agreement as described above, Officer shall pay to the Company as liquidated damages, on demand in immediately
available legal tender of the United States of America, a sum equal to all profits, remuneration, or other consideration Officer gains from all activities in breach or contravention of any of Officer’s obligations. 
 6. SURVIVAL 
 Neither completion of
payments hereunder nor termination of this Agreement shall be deemed to relieve Officer or Company of any rights or obligations hereunder which by their very nature survive the completion of payments by the Company, including without limitation,
Sections 3. and 4. hereof. 
 7. ENTIRE AGREEMENT 
 The Officer and the Company acknowledge and agree that this Agreement contains the entire agreement between them and that no statements or promises have been made by either party concerning the contents of this
Agreement other than as expressly contained in this document or the Consulting Agreement executed contemporaneously. 
 8. EFFECTIVE DATE

 This Agreement will be governed by the Laws of the State of Florida and shall become effective at the close of business on the seventh
day following the execution and delivery of the Agreement by the Officer (the “Rescission Period”). At any time during the Rescission Period the Officer may rescind this Agreement by giving written notice to the Company at its Human
Resources Department. 
  

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 9. STATEMENT OF UNDERSTANDING 
 THE OFFICER ACKNOWLEDGES THAT SHE HAS CAREFULLY READ THIS AGREEMENT, KNOWS AND UNDERSTANDS THE CONTENTS CONTAINED IN IT, HAS BEEN GIVEN THE OPPORTUNITY
TO CONSIDER THE AGREEMENT FOR TWENTY-ONE (21) DAYS, THE COMPANY HAS ADVISED HER TO CONSULT AN ATTORNEY IF SHE DESIRES AND SHE HAS BEEN GIVEN THE OPPORTUNITY TO DO SO. FURTHER, THE OFFICER UNDERSTANDS THAT SHE MAY RESCIND THIS AGREEMENT AT ANY
TIME DURING THE SEVEN (7) DAYS IMMEDIATELY FOLLOWING EXECUTION. THE OFFICER DOES FREELY AND VOLUNTARILY ASSENT TO ALL OF ITS TERMS AND CONDITIONS AND SIGNS THIS AGREEMENT AS HER OWN FREE ACT AND RECOGNIZES THAT BY DOING SO SHE IS RELEASING THE
COMPANY FROM ANY LIABILITY UNDER THE OLDER WORKERS’ PROTECTION ACT. 
 If the Officer chooses to waive the 21 day requirement, please indicate by
initialing and dating the following paragraph in the space provided in the left margin. 
 THE OFFICER DOES HEREBY WAIVE THE TWENTY-ONE (21) DAY
PERIOD TO CONSIDER THIS AGREEMENT AS REQUIRED UNDER THE OLDER WORKERS’ BENEFIT PROTECTION ACT (29 USC §626). FURTHER, THE OFFICER UNDERSTANDS THAT SHE MAY RESCIND THIS AGREEMENT AT ANY TIME DURING THE SEVEN (7) DAYS IMMEDIATELY
FOLLOWING EXECUTION. 
 IN WITNESS WHEREOF, TECO ENERGY, INC. and Sheila M. McDevitt have caused this instrument to be
executed in Tampa, Florida as of the date first written above. 
 This Agreement supersedes and replaces any previous version of this
agreement or any agreement between the parties concerning this retirement. 
  

			
	 TECO ENERGY, INC.,

	 A FLORIDA CORPORATION

		
	BY:	 	 /s/ Sherrill W. Hudson

		 	Sherrill W. Hudson
		 	Chairman and Chief Executive Officer

 CAUTION! READ BEFORE SIGNING 
  

			
	BY:	 	 /s/ Sheila M. McDevitt

		 	Sheila M. McDevitt
		 	Sr. V.P. – General Counsel and Chief Legal Officer
		
		 	DATE SIGNED: June 11, 2007

  

 6Consulting Agreement dated as of May 14, 2007

 Exhibit 10.5 
 TECO ENERGY, INC. 
 AGREEMENT FOR CONSULTING SERVICES 
 THIS CONSULTING AGREEMENT (the “Consulting Agreement”), made and entered into this 11th day of June, 2007 by and between TECO
ENERGY, INC., a Florida corporation, which has its business address at 702 North Franklin Street, Tampa, Florida 33602, hereinafter referred to as “Company”, and Sheila M. McDevitt, P.L. hereinafter referred to as
“Consultant”, whose address is 16750 Gulf Boulevard, #215, N. Redington Beach, Florida 33708. 
 WITNESSETH: THAT 

WHEREAS, the Company and the Consultant’s principal have entered into a Voluntary Retirement Agreement and General Release dated as of
June 11, 2007 (the “Agreement”) and has retired from her position as Senior Vice President – General Counsel and Chief Legal Officer effective July 1, 2007. 
 WHEREAS, the Company proposes to contract for the Consultant’s services as described and on an “as required” basis beyond the
services subject to the Retainer Amount to be directed and administered by the Chief Executive Officer, his successor and/or his designee, hereinafter referred to collectively as “Company Representative.” 
 WHEREAS, the Company desires to engage the Consultant to perform certain professional services in accordance with this Consulting Agreement.

 WHEREAS, the Consultant desires to provide such professional services in accordance with this Consulting Agreement. 
 NOW, THEREFORE, the valuable considerations and the mutual benefits which will accrue to the parties, the parties agree as follows: 
 1. PURPOSE. The purpose of this Consulting Agreement is to set forth the obligations, responsibilities, terms and conditions applicable to
the parties in the event the Consultant performs Services and other work for the Company. This Consulting Agreement does not authorize the Consultant to provide any services or perform any other work (collectively “Services”) for the
Company, but the terms and conditions of this Consulting Agreement shall be applicable to any services performed hereunder by the Consultant when requested by the Company Representative. 
 2. SERVICES. 
 (a) The Consultant
shall perform all of the Services for the Company which is assigned orally or in writing by the Company Representative; provided that it shall work a minimum of 60 hours per month. Said Services shall be generally related to Consultant’s
background and experience and will include, among other things, the completion of certain legal matters currently under her control and identified prior to her retirement from the Company, assist in transition matters related to the new general
counsel, continue certain oversight and development of corporate communications, transition matters associated with compliance and corporate secretary and such other legal, strategic or other matters that may be assigned from time to time. During
the term of this 

  

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Consulting Agreement the Consultant shall not be authorized to act as an agent for the Company and shall not have the authority to bind the Company unless
such authority is specifically given to the Consultant in connection with the responsibilities assigned to her pursuant to this Consulting Agreement. 
 (b) During the term of this Consulting Agreement, the Consultant agrees to make herself available to perform the Services requested by the Company. Further, Consultant agrees to conduct herself in a manner consistent
with Company policy and to refrain from engaging in any conduct which holds the Company up to ridicule in the community or which jeopardizes or adversely affects the business or reputation of the Company. 
 3. TERM. This Consulting Agreement shall commence on July 1, 2007, and remain in full force and effect for a period of six (6) months
and shall expire automatically at the end of the business day on December 31, 2007. The Agreement may be extended upon mutual written agreement through a simple letter agreement changing the term and any other items that differ from the terms
hereof. 
 4. RETAINER AND FEES. 
 (a) The Company shall pay the Consultant as a retainer the amount of $12,500.00 per month (“Retainer Amount”) and direct out-of-pocket expenses which are reasonable and necessary for the performance of the Services authorized
herein and supported by the appropriate documentation. This Retainer Amount shall cover all routine matters, administrative and oversight work related to and the performance of the assigned Services under this Consulting Agreement not to exceed
sixty (60) hours per month. 
 (b) The Company shall pay the Consultant at the rate of $175.00 per hour for all Services performed in
excess of 60 hours per month. 
 (c) The Company shall not provide Consultant any pension, insurance, workers’ compensation insurance,
medical coverage or similar benefits in connection with Services performed hereunder, nor shall it be responsible for the payment of any taxes on behalf of the Consultant as more fully described in Section 8. hereof. Consultant shall provide
the Company with its tax identification number which shall be included on each invoice. 
 5. INVOICING AND PAYMENTS. Invoices and
payments shall be made as follows: 
 (a) The Consultant shall invoice the Company by
the fifteenth (15th) day following each month for the retainer amount, including the Services performed for the Retainer Amount and for any Services
in excess of the 60 hours per month at the hourly rate set out in Section 4 above. Each invoice shall include all hours actually worked during the previous month in the manner described in Paragraph 5.(b) hereof. Said invoices shall also
include out-of-pocket expenses as provided in Section 4 above. 
 (b) All invoices for payment under this Consulting Agreement
shall be in accordance with all provisions stated herein. The Consultant shall itemize the billing, indicating the nature of the Services performed, the number of hours worked, and the applicable monthly rate or hourly rate. 
  

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 6. CONFIDENTIALITY AND CONFLICT OF INTEREST 
 (a) The Consultant recognizes and acknowledges that during the course of its consulting engagement with the Company covered by this Consulting Agreement,
it has been exposed to, has had access to, and has had disclosed to him information and material developed specifically by and for the benefit of the Company and sensitive and/or proprietary information, operations procedures and information,
financial, rate design, rate base and rate making information and procedures and specific Company procedures related thereto, business and strategic plans, existing or potential commercial or other business arrangements, and to other matters,
including without limitation, trade secrets, trademarks, service marks, trademarked and copyrighted material, patents, patents pending, financial and data processing information, data bases, interfaces, and/or source codes, Company procedures,
specifications, commercial information, technological improvements or other Company or Customer records as described in Tampa Electric Company Administrative Policies I.8.7 and 1.12, including any information or material, belonging to others which
has been provided to the Company on a confidential basis, all of which are hereinafter referred to as “Confidential Information.” 
 (b) The Consultant agrees to maintain, in strict confidence, the Confidential Information and agrees not to disclose to any third party or to use same to benefit herself or any third party (other than Consultant’s financial and legal
advisors) the Confidential Information or the fact of, the terms of or the amount of the consideration paid as part of this Consulting Agreement. The Consultant shall be prohibited from using, duplicating, reproducing, copying, distributing,
disclosing such Confidential Information regardless of form or purpose, including without limitation, verbal disclosure, data, documents, electronic media or any other media form. Any other information of a confidential or sensitive nature acquired
by the Consultant during the course of her employment and not defined herein as Confidential Information shall not be disclosed by the Consultant or used for the benefit of the Consultant or others for a period of five (5) years from the date
of this Consulting Agreement. Consultant agrees to continue to abide by the non-disclosure and non-use obligations relating to Company records, information and property contained in the Company’s Standards of Integrity. 
 (c) The restrictions on the Consultant’s disclosure of Confidential Information set out herein do not apply to such information which (i) is
now, or which hereafter, through no act or failure to act on the part of the Consultant, becomes generally known or available to the public; or (ii) is required to be disclosed by a court of competent jurisdiction or by an administrative or
quasi-judicial body having jurisdiction over the subject matter after the Consultant has given the Company reasonable prior notice of such disclosure requirement. 
 (d) For the purpose of this Section the term “Company” shall mean TECO Energy, Inc., Tampa Electric Company, and their respective subsidiaries and affiliates. 
 (e) Consultant represents that there is no actual or potential conflict of interest to her best information and belief between the Company and the
Consultant, Consultant’s family, business or financial interest as defined in the Standards of Integrity. 
 (1) In the event of
any change in the Consultant’s status with respect to conflicts of interest, any actual or potential conflicts shall be reported to the Company as soon as Consultant becomes aware of them in the manner required by the Standards of
Integrity. 
 (2) Consultant shall not employ for compensation any employee of the Company to perform any part of this Consulting
Agreement. 
  

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 (3) Consultant agrees that during the term of this Consulting Agreement it shall not perform any
Services for any person, firm or corporation having a claim against the Company. 
 7. REMEDY AT LAW INSUFFICIENT. Consultant
acknowledges that damages at law will be an insufficient remedy if Consultant violates the terms of this Agreement, and that the Company would suffer a decrease in value and irreparable damage as a result of such violation. Accordingly, on a
violation of any of the covenants set forth herein, particularly those contained in Sections 2. and 6., the Company, without excluding or limiting any other available remedy, shall be entitled to the following remedies: 
 (1) Upon posting a reasonable bond and filing with a court of competent jurisdiction an appropriate pleading and affidavit specifying each obligation
breached by Consultant, automatic entry by a court in accordance with Florida Statute §542.335(1)(j) having jurisdiction of an order granting an injunction or specific performance compelling Consultant to comply with that obligation, without
proof of monetary damage or an inadequate remedy at law; and 
 (2) Reimbursement of all costs and expenses incurred by the Company in
enforcing those obligations or otherwise defending or prosecuting any litigation arising out of Consultant’s obligations, including premiums for bonds, fees for experts and investigators, and legal fees, cost, and expenses incurred before a
lawsuit is filed and in trial, appellate, bankruptcy and judgment-execution proceedings. 
 The foregoing remedies are cumulative to all other remedies
afforded by law or in equity, and the Company may exercise any such remedy concurrently, independently or successively. If for any reason a court of competent jurisdiction determines that the Company is not entitled to an injunction based on a
breach of a material obligation under this Agreement as described above, Consultant shall pay to the Company as liquidated damages, on demand in immediately available legal tender of the United States of America, a sum equal to all profits,
remuneration, or other consideration Consultant gains from all activities in breach or contravention of any of Consultant’s obligations. 
 8. INDEPENDENT CONTRACTOR. It is mutually understood and agreed between the parties that the Consultant in performing the Services under the provisions of this Consulting Agreement shall act as an independent contractor and not as a
subcontractor, agent or employee of the Company maintaining complete control and responsibility for her own employees and operations and those of her subcontractors, if any. The means and methods employed for performing any of the Services under
this Consulting Agreement shall be at the option of the Consultant subject to the provisions of this Consulting Agreement. The Company shall have no liability for and the Consultant agrees that it is responsible for the payment of all required
Federal taxes pursuant to the Federal Insurance Contributions Act (including self-employment taxes), the Social Security Act, the Federal Unemployment Tax Act, and all income tax withholding and shall obtain and maintain a tax identification number.
Further the parties agree that the Company shall not provide any employee benefits pursuant to any federal or state law or regulation. Consultant agrees to indemnify and hold the Company harmless of and from any claims of the Consultant or third
party, including governmental taxing authorities, for taxes, FICA, self-employment taxes, or employee benefit of any kind. 
 9.
INDEMNIFICATION. The parties acknowledge that the Consultant will not carry professional liability insurance in the event of claims by third parties or by the Company for acts or omissions in her performance of the Services hereunder.
Accordingly, the Company agrees to indemnify the Consultant as Consultant would otherwise have been indemnified in the performance of similar services as an Officer or employee of the Company as set for below. 
  

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 For specific valuable consideration and other benefits accruing to the Company, which are separate and
apart from any and all other consideration for Consultant to enter into this Consulting Agreement and which have been received by the Company and acknowledged to be sufficient, the Company expressly agrees to indemnify, defend and hold harmless
Consultant of and from any and all claims, demands, losses, damages, charges, expenses (including attorneys’ fees and costs), judgments, fines, penalties or other similar losses by the Consultant (collectively “Claims”) and upon
notice to the Company, to undertake at its expense the defense of any Claims that arise or are alleged to have arisen out of, in connection with, or by reason of Consultant’s acts or omissions in the performance of the Services provided under
this Consulting Agreement and freely covenants not to sue Consultant for Consultant’s acts or omissions arising out of or relating to the Services provided hereunder. The Company’s obligations hereunder shall not extend to cover
Consultant’s willful or reckless acts or for unauthorized Services beyond the scope of this Consulting Agreement. Company’s foregoing obligation to Consultant includes the obligation to undertake, at its own expense, the defense of any
claim or action described in this section. Company as used in this section shall include TECO Energy, its subsidiaries, directors, officers, employees, agents, servants, customers, and successors. The term “Consultant” shall mean Sheila M.
McDevitt, L.L.C. its principals, personal representatives, executors, estates, heirs, successors and assigns. 
 10. DISPUTE
RESOLUTION. The parties recognize and agree that resolving controversies through litigation in the federal and state courts of the United Stated is costly, time consuming and a burden to their resources. Therefore, in an effort to eliminate the
need for litigation and reduce the costs of resolving any controversy which may arise between the parties under this Consulting Agreement, the parties agree to use any reasonable and recognized form of alternative dispute resolution to which they
may mutually agree. However, as a condition precedent to entering into such form of dispute resolution, the Consultant and the Company Representative shall enter into good faith discussions designed to reach a resolution of any dispute hereunder,
which resolution shall be memorialized in writing. The requirements of this paragraph are conditions precedent to either party bringing suit in any court of competent jurisdiction. 
 11. ASSIGNMENT. Except for assignment to the Consultant’s wholly-owned consulting company, if any, the Consultant agrees that it will not
sell, assign, transfer or sublet this contract or any part thereof or interest therein, either by power of attorney or otherwise, without the prior written consent of the Company, and that any such sale, assignment, transfer or subletting, without
such consent of the Company shall be null and void. In the event of the authorized assignment to Consultant’s consulting company, the Consultant shall provide the Company prior written notice and shall remain obligated individually for the
obligations hereunder. Any subcontracts entered into by the Consultant shall be submitted to the Company for its prior approval and the Company shall have the right to reject any subcontractor whom it considers incompetent or unable to
satisfactorily perform the portion of the Services involved. 
 12. ALTERATIONS AND AMENDMENTS. No alteration or amendment of this
Consulting Agreement shall be valid unless the same is made in accordance with the provisions of this Consulting Agreement and by an instrument in writing signed by the Company and by the Consultant; and in case of any such alteration or amendment,
so much of this Consulting Agreement as is not necessarily thereby changed shall remain in force; and no act or conduct of either party shall be held to operate as a waiver of any provision or provisions of this Consulting Agreement unless in the
form of a writing signed by the party against which it is asserted. 
 13. WORK PRODUCT. All documents, information, data, analyses,
or any other materials prepared by or used by the Consultant arising out of the performance of the Services under this Consulting Agreement, shall be owned by Company as and when produced, and the Consultant shall not be entitled to use such work
product for any other purpose without the express written consent of the Company. 
  

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 14. AUDIT. During the period of this Consulting Agreement, the Consultant shall maintain a set of
accounts and records and any other evidence which shows and supports all direct reimbursable costs incurred or anticipated, and any applicable credit. The system of accounts to be used by the Consultant shall be acceptable to and subject to approval
of the Company and shall be in accordance with generally accepted accounting principles. The Consultant shall preserve these records for a period of three (3) years after performance of the Consulting Agreement. The Consultant shall maintain
all records of any type pertaining to this Consulting Agreement and each Company purchase order and attachments thereto for a period of five (5) years after final acceptance of the Services performed under this Consulting Agreement. 

All books of accounts, records, documents, correspondence, and any other evidence pertaining to the direct charges of this Consulting Agreement shall
be subject to inspection, copying and audit at all reasonable times by the Company or its authorized representatives. 
 15. TERMINATION
WITHOUT CAUSE. 
 (a) Either party shall have the right to terminate this Consulting Agreement without cause upon thirty (30) days
prior written notice to the other party. 
 (b) In the event that this Consulting Agreement is terminated by the Company as aforesaid,
Consultant shall be paid the value of any remaining unpaid Retainer Amounts due and for any additional hours worked up to the date of such termination. 
 (c) In the event that this Consulting Agreement is terminated by the Consultant as aforesaid, Consultant shall be paid only for the Services satisfactorily performed through the date of termination at the rates set
forth in Section 4.(a) and 4.(b) hereof. 
 16. TERMINATION WITH CAUSE. 
 (a) The Company or Consultant shall have the right to terminate this Consulting Agreement for Cause upon five (5) days written notice to the other
party of its intent to terminate this Consulting Agreement. For the purposes of this Consulting Agreement, “Cause” shall include any breach of a material provision of this Consulting Agreement or the Agreement. 
 (b) In the event that the Company terminates the Consulting Agreement for Cause, the Consultant shall be entitled to be paid for the Services
satisfactorily performed through the date of termination at the rate set forth in Section 4.(a) hereof. 
 17. JURISDICTION AND
VENUE. This Consulting Agreement memorializing the total agreements of the parties hereto, and all respective rights and obligations of the parties thereto, shall be governed by the laws of the State of Florida. Any litigation arising hereunder
or related hereto shall be tried by the state courts of Hillsborough County, Florida. 
 18. CONSCIENCE OF AGREEMENT. This Consulting
Agreement and the Agreement represent the entire agreement and understanding between the parties and supersedes all prior representations or agreement whether written or oral, with respect to Services hereunder. 
 19. ATTORNEY’S FEES. In the event that either party hereto is required to institute litigation or some other form of alternative dispute
resolution in order to enforce the terms of this Consulting Agreement, the prevailing party shall be entitled to recover its reasonable attorney’s fees and costs from the other party. 
  

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 20. SURVIVAL. Neither completion of payments hereunder nor termination of this Consulting
Agreement shall be deemed to relieve the Consultant of any rights or obligations hereunder which by their very nature survive this Consulting Agreement, including without limitation, Sections 5., 6., 7., 8., 9., 10., 11., 12., 13., 14., 15., 16.,
17., 18., and 19. hereof. 
 21. EFFECTIVE DATE. This Consulting Agreement shall be effective as of July 1, 2007. 
 IN WITNESS WHEREOF, TECO ENERGY, INC. and Sheila M. McDevitt, L.L.C. have caused this instrument to be executed in Tampa, Florida as of the
date first written above. 
 This Agreement supersedes and replaces any previous version of this agreement or any agreement between the
parties concerning the Services. 
  

			
	TECO ENERGY, INC.,
	A FLORIDA CORPORATION
		
	BY:	 	 /s/ Sherrill W. Hudson

		 	Sherrill W. Hudson
		 	Chairman and Chief Executive Officer
	
	 Sheila M. McDevitt, P.L.

	A Florida limited liability company
		
	BY:	 	 /s/ Sheila M. McDevitt

		 	Sheila M. McDevitt
	As its:	 	Managing Memer
	
	DATE SIGNED: June 11, 2007

  

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