Document:

The Registrant's Restated Certificate of Incorporation

 Exhibit 4.1 
  

RESTATED CERTIFICATE OF INCORPORATION 
  
 OF 
  
 LAKELAND BANCORP, INC. 
  
 Pursuant to the provisions of Section 14A:9-5(2) of the New Jersey Business Corporation Act, the undersigned corporation adopts the following Restated Certificate of Incorporation: 
  

	 	1.	Name. The name of the corporation is Lakeland Bancorp, Inc. 

  

	 	2.	Purpose. The principal purpose for which the corporation is organized is to exercise all powers of a banking holding company, which is registered with the Board of Governors
of the Federal Reserve System under the Bank Holding Company Act of 1956, as amended, and to engage in banking and non-banking activities allowed for such a bank holding company under New Jersey and federal law. 

  

	 	3.	Shares Authorized. The maximum number of shares which the corporation shall have the authority to issue is 40,000,000 shares of common stock, no par value.

  

	 	4.	Issuance of Stock. The capital stock of the corporation may be issued for valid corporate purposes upon authorization by the Board of Directors of the corporation without
prior stockholder approval. Such authorization by the Board of Directors may be made by a majority or other vote of the Board as may be provided in the Bylaws of the corporation. The provisions of this Article may only be amended or repealed by the
affirmative vote of the holders of not less than eighty percent (80%) of the outstanding voting stock of the corporation. 

  

	 	5.	Office and Registered Agent. The address of the current registered office of the corporation in the State of New Jersey is 250 Oak Ridge Road, Oak Ridge, New Jersey 07438,
and the name of its current New Jersey registered agent at such address is Arthur L. Zande. 

	 	6.	Number and Terms of Directors. The corporation shall have not less than five (5) or more than twenty-five (25) Directors. The Board of Directors of the corporation shall, at
a regular meeting prior thereto, fix by resolution the number of Directors for the succeeding year to be elected at the annual meeting of the shareholders. The Board shall be divided into three (3) classes of Directors, each of equal number, or in
the event the total number of Directors is not divisible by three (3) then of nearly equal number as is possible. Unless they are elected to fill vacancies, the Directors in each class shall be elected to hold office until the third successive
annual meeting of shareholders after their election and until their successors shall have been elected and shall have qualified, such that at each annual meeting of shareholders, only one class of Directors shall be elected. In the event that a
Director is elected to fill a vacancy, the term of such Director shall expire at the next annual meeting of shareholders. Any vacancy, however caused, occurring in the Board, and newly created Directorships resulting from an increase in the
authorized number of Directors, may be filled by the affirmative vote of a majority of the remaining Directors, even though less than a quorum of the Board, or by a sole remaining Director. The Board of Directors shall specify the class in which a
Director so elected shall serve. Any Director so elected by the Board of Directors shall hold office only until the next annual meeting of the shareholders and until his successor shall have been elected and qualified, notwithstanding that the term
of office of the other Directors in the class of which he is a member does not expire at the time of such meeting. His successor shall be elected by the shareholders to a term of office which shall expire at the same time as the term of office of
the other Directors in the class to which he is elected. Election of Directors need not be by written ballot. The affirmative vote of the holders of not less than eighty percent (80%) of the outstanding voting stock of the corporation is required to
amend or repeal the provisions of this Article. 

	 	7.	Current Board. The current Board of Directors consists of fifteen (15) persons, and their names and addresses are: 

  

			
	 Name

	 	 Address

	 Bruce G. Bohuny
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Roger Bosma
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Mary Ann Deacon
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 John W. Fredericks
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Mark J. Fredericks
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 George H. Guptill, Jr.
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Janeth C. Hendershot
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Paul Lubertazzi
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Robert E. McCracken
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Robert B. Nicholson, III
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Joseph P. O’Dowd
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Charles Tice
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Stephen R. Tilton, Sr.
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Paul G. Viall, Jr.
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

		
	 Arthur L. Zande
	 	 250 Oak Ridge Road
 Oak Ridge, NJ
07438

	 	8.	Vacancies on Board of Directors. Any and all vacancies on the Board of Directors, including those resulting from an increase in the number of Directors or the removal,
resignation, or death of a Director, shall be filled by the Board of Directors. 

  

	 	9.	Removal of a Director. A Director of the corporation may only be removed during his or her term of office for cause, as defined as final conviction of a felony, unsound mind,
adjudication of bankruptcy, non-acceptance of office or conduct prejudicial to the interests of the corporation, by the affirmative vote of a majority of the entire Board of Directors of the corporation or by the requisite shareholder vote.
Shareholders shall not have the right to remove Directors without such cause. Shareholders may only attempt to remove a Director for cause after service of specific charges, adequate notice, and full opportunity to refute the charges.

  

	 	10.	Personal Liability of Officers and Directors; Related Matters. A director or an officer of the corporation shall not be personally liable to the corporation or its
shareholders for the breach of any duty owed to the corporation or its shareholders except to the extent that an exemption from personal liability is not permitted by the New Jersey Business Corporation Act. Any expenses incurred by a director or
officer of the corporation in connection with a proceeding involving the director or officer may be paid by the corporation in advance of final disposition of the proceeding, provided the director or officer undertakes to repay such amount unless it
shall ultimately be determined that he or she is entitled to indemnification. 

  

	 	11.	Bylaws. The Board of Directors shall have the right to enact, alter, amend or repeal the Bylaws of the corporation. Also, the Bylaws may be amended, altered or repealed by
the affirmative vote of the holders of not less than eighty percent (80%) of the outstanding voting stock of the corporation. 

	 	12.	Considerations in Evaluating Acquisition Offer. The Directors of the corporation shall consider all factors they deem relevant in evaluating any proposed tender offer or
exchange offer for the corporation or any subsidiary’s stock, any proposed merger or consolidation of the corporation or subsidiary with or into another entity and any proposal to purchase or otherwise acquire all or substantially all the
assets of the corporation or any subsidiary. The Directors shall evaluate whether the proposal is in the best interests of the corporation and its subsidiaries by considering the best interests of the shareholders and other factors the Directors
determine to be relevant, including the social, legal and economic effects on employees, customers, depositors, and communities served by the corporation and any subsidiary. The Directors shall evaluate the consideration being offered to the
shareholders in relating to the then current market value of the corporation or any subsidiary, the then current market value of the stock of the corporation or any subsidiary in a freely negotiated transaction, and the Directors’ estimate of
the future value of stock of the corporation or any subsidiary as an independent entity. The affirmative vote of the holders of not less than eighty percent (80%) of the outstanding voting stock of the corporation is required to amend or repeal the
provisions of this Article. 

  

	 	13.	Votes Required to Approve Acquisition. 

  

	 	(a)	Unapproved by Board. The affirmative vote of the holders of not less than eighty percent (80%) of the outstanding voting stock of the corporation is required to approve
either (1) a merger or consolidation of the corporation with, or (2) a sale, exchange or lease of all or substantially all of the assets of the corporation to, any person or entity provided that the Board of Directors of the corporation, by a
majority vote of the entire Board, does not recommend to the stockholders of the corporation a 

 vote in favor of the same. For purposes of this provision, substantially all of the assets shall mean
assets having a fair market value or book value, whichever is greater, of twenty-five (25) percent or more of the total assets as reflected on a balance sheet of the corporation as of a date no earlier than 45 days prior to any acquisition of such
assets. 
  

	 	(b)	Acquisition by Controlling Party. The affirmative vote of the holders of not less than eighty percent (80%) of the outstanding shares of all voting stock of the corporation
and the affirmative vote of the holders of not less than sixty-seven percent (67%) of the outstanding shares of voting stock held by stockholders other than the Controlling Party (as defined below) shall be required for the approval or authorization
of any merger, consolidation, sale, exchange or lease of all or substantially all the assets of the corporation (as defined above). Controlling Party is any stockholder owning or controlling twenty percent (20%) or more of the corporation’s
voting stock at the time of the proposed transaction. However, these voting requirements shall not be applicable in such transactions in which: (a) the cash or fair market value of the property, securities or other consideration to be received
(which includes common stock of this corporation retained by its existing stockholders in such a transaction in which the corporation is the surviving entity) per share by holders of common stock of the corporation in such transaction is not less
than the highest per share price (with appropriate adjustments for recapitalizations, stock splits, stock dividends and distributions), paid by the Controlling Party in the acquisition of any of its holdings of the corporation’s common stock in
the three years preceding the announcement of the proposed transaction; or (b) the transaction is recommended by a majority of the entire Board of Directors. The requirements of this paragraph are in addition to and separate from any consent or
approval that may be required by this Certificate to authorize any merger, consolidation or sale, exchange or lease of all or substantially all of the assets of the corporation as in paragraph (a) of this Article. 

	 	(c)	Meetings of Shareholders. Any meeting of shareholders, whether annual or special, called to consider a vote in favor of a merger or consolidation of the corporation with, or
a sale, exchange or lease of substantially all of the assets of the corporation to, any person or entity, as defined in paragraphs (a) and (b) of this Article, which is not recommended by the Board of Directors of the corporation by the required
vote, shall require attendance in person or by proxy of eighty percent (80%) of the shareholders of the corporation in order for a quorum for the conduct of business to exist. Such a meeting may not be adjourned absent notice if a quorum is not
present. 

  

	 	(d)	Amendment or Repeal of this Article. The affirmative vote of not less than eighty percent (80%) of the outstanding voting stock of the corporation is required to amend or
repeal any part of paragraphs (a) or (b) of this Article. 

  
 IN WITNESS WHEREOF, the corporation has caused this Restated Certificate of Incorporation to be executed on its behalf by its duly authorized officer this 19th day of May, 2005. 
  

			
	LAKELAND BANCORP, INC.
		
	By:	 	 /s/ Roger Bosma

	 	 	Roger Bosma
	 	 	President and Chief Executive OfficerEleventh Supplemental Indenture

 Exhibit 4.1 
  
 Execution Version 
  

  
 TECO ENERGY, INC. 
  
 and 
  
 THE BANK OF NEW YORK 
 As Trustee 
  

  
 ELEVENTH SUPPLEMENTAL INDENTURE 
  
 dated as of June 7, 2005 
  
 Supplementing the Indenture 
  
 dated as of August 17, 1998 
  

  
 $100,000,000 
  
 Floating Rate Notes Due 2010 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page

			
	 ARTICLE ONE
	  	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	2
				
	 	  	Section 101.	  	        Definitions	  	2
				
	 	  	Section 102.	  	        Section References	  	6
			
	 ARTICLE TWO
	  	DESIGNATION AND TERMS OF THE NOTES	  	6
				
	 	  	Section 201.	  	        Establishment of Series	  	6
				
	 	  	Section 202.	  	        Variations in Terms of the Notes	  	6
				
	 	  	Section 203.	  	        Amount and Denominations; the Depositary	  	6
				
	 	  	Section 204.	  	        Stated Maturity	  	7
				
	 	  	Section 205.	  	        Interest Rates and Interest Payment Dates	  	7
				
	 	  	Section 206.	  	        Form and Other Terms of the Notes	  	8
				
	 	  	Section 207.	  	        Authentication and Delivery	  	8
				
	 	  	Section 208.	  	        Redemption; No Sinking Fund	  	8
			
	 ARTICLE THREE
	  	SPECIAL TRANSFER RESTRICTIONS	  	9
				
	 	  	Section 301.	  	        Representation by Purchases of Initial Notes	  	9
				
	 	  	Section 302.	  	        Restriction on Transfer.	  	10
			
	 ARTICLE FOUR
	  	RESTRICTIVE COVENANT	  	12
				
	 	  	Section 401.	  	        Limitation on Certain Liens	  	12
				
	 	  	Section 402.	  	        Reports by the Company	  	12
			
	 ARTICLE FIVE
	  	ADDITIONAL EVENT OF DEFAULT	  	12
			
	 ARTICLE SIX
	  	MISCELLANEOUS	  	13
				
	 	  	Section 601.	  	        Effect On Original Indenture	  	13
				
	 	  	Section 602.	  	        Counterparts	  	13
				
	 	  	Section 603.	  	        Recitals	  	13
				
	 	  	Section 604.	  	        Governing Law	  	13
			
	 EXHIBIT A
	  	FORM OF NOTE	  	 
	 EXHIBIT B-1
	  	LEGEND FOR INITIAL NOTES	  	 
	 EXHIBIT B-2
	  	REGULATION S LEGEND	  	 
	 EXHIBIT C
	  	FORM OF SUPPLEMENTAL COMPANY ORDER	  	 
	 EXHIBIT D
	  	FORM OF CERTIFICATE TO BE DELIVERED IN CONNECTION WITH TRANSFERS PURSUANT TO REGULATION S	  	 

  

 i 

 This Eleventh Supplemental Indenture, dated as of June 7, 2005 is between TECO Energy, Inc., a
corporation duly organized and existing under the laws of the State of Florida (hereinafter called the “Company”) and having its principal office at TECO Plaza, 702 North Franklin Street, Tampa, Florida 33602, and The Bank of New
York, as trustee (hereinafter called the “Trustee”) and having its principal corporate trust office at 101 Barclay Street, 11th Floor East, New York, New York 10286. 
  
 WITNESSETH: 
  
 WHEREAS, the
Company and the Trustee entered into an Indenture, dated as of August 17, 1998, as heretofore amended (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 201 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 901(7) of the Original Indenture provides that a supplemental indenture may be entered into by the Company 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 Eleventh 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 “Floating Rate Notes Due 2010”; and 
  
 WHEREAS, the Company and the Trustee desire to enter into this Eleventh
Supplemental Indenture for the purposes set forth in Sections 201 and 901 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 Eleventh Supplemental Indenture; and 

 
 WHEREAS, all things necessary to make this Eleventh Supplemental Indenture
a valid agreement of the Company and the Trustee and a valid supplement to the Original Indenture have been done, 
  
 NOW, THEREFORE, THIS ELEVENTH 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 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 Eleventh Supplemental Indenture are hereinafter sometimes collectively referred to as the “Indenture.” 
  
 “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 Eleventh 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. 
  
 “Calculation Agent” means an agent appointed by the Company to calculate LIBOR from time to time and shall be the Trustee until such time as the Company at its discretion, upon notice to the Trustee,
appoints a successor agent. 
  
 “Comparable Treasury
Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to May 1, 2007 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 May 1, 2007; provided, however, that if the period from the date on which the Notes are to be redeemed to May 1, 2007 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. 
  
 “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 Company and its Subsidiaries prepared in accordance with GAAP. 
  
 “Depositary” means The Depository Trust Company or its successor. 
  
 “Determination Date,” with respect to an Interest Period, will be the second London Banking Day preceding the first day of the Interest
Period. 
  

 2 

 “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 February 1, May 1, August 1 and November 1 of each year. 
  
 “Interest Period” means the period commencing on a Interest Payment Date to but excluding the next following Interest Payment Date and,
in the case of the last such Interest Period, from and including the Interest Payment Date immediately preceding the Stated Maturity of the Notes or their earlier redemption date, as the case may be, to but not including the such Stated Maturity or
redemption date, as the case may be; the initial Interest Period shall commence on the Original Issue Date and end on July 31, 2005. 
  
 “Interest Rate” means (i) 5.37% per annum for the period beginning on the date of issuance of the Initial Notes and ending on July 31,
2005, and (ii) for each Interest Period thereafter beginning August 1, 2005, a variable interest rate equal to LIBOR plus 2.00% (computed based on a 360-day year consisting of twelve 30-day months). 
  
 “LIBOR” means, for each Interest Period beginning on and
after August 1, 2005, the rate determined by the Calculation Agent equal to the applicable British Bankers’ Association LIBOR rate for deposits in U.S. dollars for a period of three months as reported on Telerate Page 3750 or by any other
generally recognized financial information service as of 11:00 a.m. (London time) on the Determination Date; provided that, if no such British Bankers’ Association LIBOR rate is available to the Calculation Agent, the Calculation Agent
will request the principal London office of each of four major banks in the London interbank market, as selected by the Calculation Agent after consulting with the Company, to provide such bank’s offered quotation (expressed as a percentage per
annum), as of approximately 11:00 a.m., London time, on such Determination Date, to prime banks in the London interbank market for deposits in a Representative Amount in United States dollars for a three-month period beginning on the second London
Banking Day after the Determination Date. If at least two such offered quotations are so provided, LIBOR for the Interest Period will be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, the Calculation Agent
will request each of three major banks in New York City, as selected by the Calculation Agent after consulting with the Company, to provide such bank’s rate (expressed as a percentage per 
  

 3 

 annum), as of approximately 11:00 a.m., New York City time, on such Determination Date, for loans in a Representative
Amount in United States dollars to leading European banks for a three-month period beginning on the second London Banking Day after the Determination Date. If at least two such rates are so provided, the LIBOR for the Interest Period will be the
arithmetic mean of such rates. If fewer than two such rates are so provided, then LIBOR for the Interest Period will be LIBOR in effect with respect to the immediately preceding Interest Period. 
  
 “Lien” means any lien, mortgage, pledge, security interest,
conditional sale, title retention agreement or other charge or encumbrance of any kind. 
  
 “London Banking Day” means any day in which dealings in U.S. dollar deposits are transacted in the London interbank market. 
  
 “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. 
  
 “Notes”
has the meaning specified in Section 201. 
  
 “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 Company and having a net book value in excess of 2% of Consolidated Net Assets. 
  
 “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. 
  

 4 

 “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 June 7, 2005 by and between the
Company and UBS Securities LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated, 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. 
  
 “Representative Amount” means a
principal amount of not less than $1,000,000 for a single transaction in the relevant market at the relevant time. 
  
 “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. 
  
 “Subsidiary” means a corporation more than 50% of the
outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting 
  

 5 

 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. 
  
 “Telerate Page 3750” means the display designated as “Page 3750” on the Moneyline Telerate service (or such other page as may replace Page 3750 on that service). 
  
 “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 Eleventh Supplemental Indenture shall, unless the context otherwise requires, refer to this
Eleventh 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 “Floating Rate Notes Due 2010” (the “Initial Notes”), and, when and if issued pursuant to the Registration Rights Agreement, for Initial Notes, the “Floating Rate Notes due 2010” (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 Eleventh Supplemental Indenture, the terms of any particular Note may vary from the terms of any other Note as contemplated by Section 301 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 303 of the Original Indenture. 
  
 Section 203. Amount and Denominations; the Depositary 
  
 (a) The initial principal amount of Notes that may be issued under this Eleventh Supplemental Indenture shall be $100,000,000. Additional Notes may be
issued under this Eleventh 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. 
  

 6 

 (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, 2010. 
  
 Section 205. Interest Rates and Interest Payment Dates 
  
 (a) Interest Rate. The Notes shall bear interest at the Interest Rate 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. The interest rate will be reset on each Interest Payment Date until the principal on
the Notes is paid on the Stated Maturity or on any earlier redemption date. Promptly upon determination, the Calculation Agent will inform the Company and the Trustee of the interest rate for the next Interest Period. The interest rate on the Notes
will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 
  
 (b) Interest Payment Dates. Interest on the Notes will be payable quarterly on each Interest Payment Date, commencing on August 1, 2005. Such
interest will be payable to the holder thereof as of the related Record Date. 
  
 (c) 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 three-month period for which interest is computed, will be computed on the basis of the actual number of days elapsed in
such a 90-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. All percentages resulting from calculation of the interest rate with respect to the Notes will be rounded, if necessary, to the
nearest one-hundred thousandth of a percentage point, with five one-millionth of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655) and 9.876544% (or .09876544) would be rounded to
9.87654% (or .0987654)), and all dollar amounts in or resulting from any such calculation will be rounded to the nearest cent (with one-half cent being rounded upward). 
  
 (d) Calculation Agent to Provide Rate; Binding Effect. The Calculation Agent will, upon the request of the Holder of
any Note, provide the interest rate then in effect. All calculations made by the Calculation Agent in the absence of willful misconduct, bad faith or manifest error shall be conclusive for all purposes and binding on the Company and the Holders of
the Notes. 
  

 7 

 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 Eleventh Supplemental Indenture. 
  
 Section 207. Authentication and Delivery 
  
 As provided in and pursuant to Section 303 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 Eleventh 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 before May 1, 2007, at the option of the Company,
at a redemption price equal to the sum of (i) the accrued and unpaid interest to the redemption date on the principal amount of the Notes then outstanding to be redeemed, plus (ii) the greater of: 
  
 (A) 100% of the principal amount of Notes then outstanding
to be redeemed, or 
  
 (B) 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
quarterly 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. 
  
 (b) The Notes are subject to redemption, in whole or in part, at any time on
or after May 1, 2007, at the option of the Company, at a redemption price equal to the sum of (i) the accrued and unpaid interest to the redemption date on the principal amount of the Notes then outstanding to be redeemed, plus (ii) for the period
from May 1, 2007 through April 30, 2008, 102% of the principal amount of the Notes then outstanding to be redeemed, for the period from 
  

 8 

 May 1, 2008 through April 30, 2009, 101% of the principal amount of the Notes then outstanding to be redeemed, and for
the period from and after May 1, 2009, 100% of the principal amount of the Notes then outstanding to be redeemed. 
  
 (c) 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. 
  
 (d) 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. 
  
 (e) 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. 
  
 (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 
  

 9 

 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.

  
 (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 
  

 10 

 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; 
  
 (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 
  

 11 

 (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. 
  
 ARTICLE FOUR 
  
 Restrictive Covenant 
  
 Section 401. Limitation on Certain Liens 
  
 As long as any of the Notes is outstanding, if the Company 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 Company held directly by the Company, the Company 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 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. 
  
 Section 402. Reports by the Company 
  
 So long
as any of the Notes are Restricted Securities, the Company 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 FIVE

  
 Additional Event of Default 
  
 As contemplated by Section 501(7) of the Original Indenture, the following
event, in addition to those set forth in Section 501 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. 
  

 12 

 ARTICLE SIX 
  
 Miscellaneous 
  
 Section 601. Effect On Original Indenture 
  
 The Eleventh Supplemental Indenture is a supplement to the Original Indenture. As supplemented by this Eleventh Supplemental Indenture, the Original
Indenture is in all respects ratified, approved and confirmed, and the Original Indenture and this Eleventh Supplemental Indenture shall together constitute one and the same instrument. 
  
 Section 602. Counterparts 
  

This Eleventh 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 
  
 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 Eleventh
Supplemental Indenture. 
  
 Section 604. Governing Law

  
 This Eleventh 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.] 
  

 13 

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

			
	 TECO ENERGY, INC.

		
	 By:
	 	 /s/ S. W. Callahan

	 Name:
	 	 Sandra W. Callahan

	 Title:
	 	 Vice President – Treasury and Risk
 Management (Treasurer)+-

	
	 THE BANK OF NEW YORK, AS TRUSTEE

		
	 By:
	 	 /s/ William Cardozo

	 Name:
	 	 William Cardozo

	 Title:
	 	 Agent

 EXHIBIT A 
  
 FORM OF NOTE 
  

			
	 CUSIP NO.:
                    
	  	PRINCIPAL AMOUNT: $                    
	 REGISTERED NO.     
	  	 

  
 TECO ENERGY, INC.

  
 Floating Rate Notes Due 2010 
  

	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:
 June 7, 2005
  
 ISSUE PRICE: 100% (as a
 percentage of principal amount)
  
 STATED
MATURITY:
 May 1, 2010
  
 INTEREST RATE: 5.37% for the period to the first Interest Payment Date, and thereafter a variable rate equal to LIBOR plus an Applicable Margin of 2.00% as
described on the reverse side of this Note
	 	 INTEREST PAYMENT DATES: February 1, May 1, August 1 and November 1 of each year, commencing August 1, 2005.
  
 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 ENERGY, 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, 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. 
  
 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. 

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

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

	 	Name:	 	 
	 	Title:	 	 

  

	
	 THE BANK OF NEW YORK,
 as Authenticating Agent for the
Trustee

  

			
	By:	 	  

	 	 	Authorized signatory

  
 Note Signature Page

 (REVERSE OF NOTE) 
  
 TECO ENERGY, INC. 
  
 Floating Rate Notes Due 2010 
  
 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 August 17, 1998, as supplemented by the Eleventh Supplemental Indenture, dated as of June 7, 2005 (as such has been or shall be amended or supplemented, the “Indenture”), between the Company and The Bank of New
York, 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. 
  
 “Calculation Agent”
means an agent appointed by the Company to calculate LIBOR from time to time and shall be the Trustee until such time as the Company at its discretion, upon notice to the Trustee, appoints a successor agent. 
  
 “Comparable Treasury Issue” means the United States Treasury
security selected by an Independent Investment Banker as having a maturity comparable to May 1, 2007, 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 May 1, 2007; provided, however, that if the period from the date on which the Notes are to be redeemed to May 1, 2007 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. 
  
 “Determination Date,” with respect to an Interest Period,
will be the second London Banking Day preceding the first day of the Interest Period. 

 “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 February 1, May 1, August 1 and November 1 of each year. 
  
 “Interest Period” means the period commencing on an Interest Payment Date to but excluding the next following Interest Payment Date and, in the case of the last such Interest Period, from and
including the Interest Payment Date immediately preceding the Stated Maturity of the Notes or their earlier redemption date, as the case may be, to but not including the such Stated Maturity or redemption date, as the case may be; the initial
Interest Period shall commence on the Original Issue Date and end on July 31, 2005. 
  
 “LIBOR” means, for each Interest Period beginning on and after August 1, 2005, the rate determined by the Calculation Agent equal to the applicable British Bankers’ Association LIBOR rate for
deposits in U.S. dollars for a period of three months as reported on Telerate Page 3750 or by any other generally recognized financial information service as of 11:00 a.m. (London time) on the Determination Date; provided that, if no such British
Bankers’ Association LIBOR rate is available to the Calculation Agent, the Calculation Agent will request the principal London office of each of four major banks in the London interbank market, as selected by the Calculation Agent after
consulting with the Company, to provide such bank’s offered quotation (expressed as a percentage per annum), as of approximately 11:00 a.m., London time, on such Determination Date, to prime banks in the London interbank market for deposits in
a Representative Amount in United States dollars for a three-month period beginning on the second London Banking Day after the Determination Date. If at least two such offered quotations are so provided, LIBOR for the Interest Period will be the
arithmetic mean of such quotations. If fewer than two such quotations are so provided, the Calculation Agent will request each of three major banks in New York City, as selected by the Calculation Agent after consulting with the Company, to provide
such bank’s rate (expressed as a percentage per annum), as of approximately 11:00 a.m., New York City time, on such Determination Date, for loans in a Representative Amount in United States dollars to leading European banks for a three-month
period beginning on the second London Banking Day after the Determination Date. If at least two such rates are so provided, the LIBOR for the Interest Period will be the arithmetic mean of such rates. If fewer than two such rates are so provided,
then LIBOR for the Interest Period will be LIBOR in effect with respect to the immediately preceding Interest Period. 
  
 “London Banking Day” means any day in which dealings in U.S. dollar deposits are transacted in the London interbank market. 

 
 “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. 
  
 “Representative Amount” means a principal amount of not less than $1,000,000 for a single transaction in the relevant market at the
relevant time. 
  
 “Telerate Page 3750” means the
display designated as “Page 3750” on the Moneyline Telerate service (or such other page as may replace Page 3750 on that service). 
  
 “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 
  
 For the initial Interest Period, this Note will bear interest at the rate per
annum identified on the face of this Note. Thereafter, the Note will bear interest at a rate per annum equal to LIBOR plus the Applicable Margin identified on the face of this Note. The interest rate will be reset on each Interest Payment Date until
the principal on the Notes is paid on the Stated Maturity or on any earlier redemption date. Promptly upon determination, the Calculation Agent will inform the Company and the Trustee of the interest rate for the next Interest Period. 
  
 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 three-month period for which interest is computed, will be computed on the basis of the actual number of days elapsed in such a 90-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. All percentages resulting from calculation of the interest rate with respect to this Note will be rounded, if necessary, to the nearest one-hundred
thousandth of a percentage point, with five one-millionth of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655) and 9.876544% (or .09876544) would be rounded to 9.87654% (or
..0987654)), and all dollar amounts in or resulting from any such calculation will be rounded to the nearest cent (with one-half cent being rounded upward). 
  
 The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law
of general application. 

 OPTIONAL REDEMPTION 
  
 At any time before May 1, 2007, the Notes are subject to redemption, in whole or in part, at the option of the Company, at a
redemption price (for such period, the “Redemption Price”) equal to the sum of (a) the accrued and unpaid interest to the redemption date on the principal amount of the Notes then outstanding to be redeemed, plus (b) 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 quarterly 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. 

  
 At any time on or
after May 1, 2007, the Notes are subject to redemption, in whole or in part, at the option of the Company, at a redemption price (for such period, the “Redemption Price”) equal to the sum of (i) the accrued and unpaid interest to
the redemption date on the principal amount of the Notes then outstanding to be redeemed, plus (ii) for the period from May 1, 2007 through April 30, 2008, 102% of the principal amount of the Notes then outstanding to be redeemed, for the period
from May 1, 2008 through April 30, 2009, 101% of the principal amount of the Notes then outstanding to be redeemed, and for the period from and after May 1, 2009, 100% of the principal amount of the Notes then outstanding to be redeemed. 

 
 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               
 
                                        
   (Custodian)                         (Minor)
                                        
             ___________________
                                        
                             (State)
	 	under Uniform Gifts to Minors Act

  
 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 ENERGY,
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 ENERGY, INC. 
 FLOATING RATE NOTES DUE 2010

 SUPPLEMENTAL COMPANY ORDER 
  
 Pursuant to Section 207 of the Eleventh Supplemental Indenture, dated as of June 7, 2005, to the Indenture, dated as of August 17, 1998, 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
            , 20    . 
  

			
	TECO ENERGY, 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 
 [Address] 
 Fax: 
 Attention: Corporate Trust Department 
  
 Re: TECO Energy, Inc. (the “Company”) Floating Rate Notes due 2010 (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 Signatory

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