Document:

Employment Agreement

 Exhibit 10.30 
 EMPLOYMENT AGREEMENT 
 SUNLINK HOMECARE SERVICES, LLC (the “Company”), and
George D. Shaunnessy (“Executive”) enter into this Employment Agreement (the “Agreement”) as of _______ ___, 2008, but effective as of the Closing Date under that certain Stock Purchase Agreement dated
as of April 22, 2008 by and among Carmichael’s Cashway Pharmacy, Inc. (the “Subsidiary”), the Stockholders of Carmichael’s Cashway Pharmacy, Inc. and SunLink Healthcare Services, LLC (the “Stock Purchase
Agreement”). Such Closing Date under the Stock Purchase Agreement and the effective date of this Agreement each is hereinafter referred to as the “Effective Date”). 
 WHEREAS, on the Effective Date, the Subsidiary shall become a wholly-owned subsidiary of the Company and an indirect subsidiary of SunLink Health
Systems, Inc. (“Parent”); 
 WHEREAS, the Company desires to employ Executive and Executive desires to accept
employment with the Company as of the Effective Date under the terms and conditions set forth herein; and 
 WHEREAS, the Company and
Executive desire to set forth in writing the covenants, terms and conditions of their agreement and understanding as to such employment. 
 NOW THEREFORE, in consideration of the foregoing, the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be
legally bound, agree as follows: 
 1. EMPLOYMENT. 
 The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed by the Company, upon the terms and subject to the conditions set forth in this Agreement. 
 2. TERM OF EMPLOYMENT. 
 Executive’s employment with the Company and the performance of this Agreement shall be deemed to have commenced on the Effective Date and shall end on the third (3rd) anniversary of the Effective Date (the “Initial Term”) unless earlier terminated pursuant to Section 5 of this Agreement. At the end of the
Initial Term (and each successive term, if any) of this Agreement, this Agreement (unless earlier terminated pursuant to Section 5) shall automatically renew for additional one (1) year terms unless terminated upon at least six
(6) months prior written notice to Executive or otherwise terminated pursuant to Section 5 prior to the expiration of the term then in effect (the Initial Term and any subsequent term hereinafter the “Employment
Term”). 
 3. DUTIES AND RESPONSIBILITIES. 
 (a) Certain Duties and Responsibilities. The Company hereby employs Executive, and Executive hereby accepts employment, as President of the Company. Executive’s responsibilities will include
those as outlined in Exhibit A. Executive shall also be 

  

 1 

 
responsible for such other managerial or executive position(s) as may from time to time be specified by Parent. 
 (b) Certain Obligations. Executive agrees to serve in such capacities and to faithfully and diligently perform such duties,
responsibilities and services that are incidental thereto, as well as such other duties, responsibilities and services as may be prescribed or requested from time to time by the chief executive officer of Parent or his designee or by the Board of
Directors of the Company (“Board of Directors”) or the board of directors of the Parent. Executive shall report directly to the chief executive officer of Parent and shall devote his full time, attention and best efforts to the
performance of his duties, responsibilities and services to the Company in a lawful manner and in accordance with the policies and procedures of the Company and instructions from the chief executive officer of Parent or his designee or by the Board
of Directors. Executive may participate in outside charitable and/or civic activities provided that such activities (i) do not violate the restrictive covenant requirements set forth in Section 6 below, and (ii) are not
inconsistent with Executive’s duties under this Agreement and will not be disadvantageous to the Company. While employed by the Company, Executive agrees not to engage in any other employment, occupation, consulting or other business activity
and will not engage in any activity that conflicts with the Executive’s obligations to the Company, without prior express written approval of the Board of Directors. 
 (c) Compliance with Laws and Policies. Executive agrees (i) to comply with all applicable laws, rules and regulations, and all requirements of all applicable regulatory, self-regulatory, and
administrative bodies; and (ii) to comply with the Company’s rules, procedures, policies, requirements, and directions. 
 4. COMPENSATION AND
BENEFITS. 
 (a) Base Salary. During the Employment Term, the Company shall pay Executive a base salary at the annual
rate of $285,000 per year (pro rated for any partial year) or such higher rate as may be determined based upon an annual review by the Compensation Committee of the board of directors of the Parent (“Base Salary”). Such Base Salary
shall be paid in substantially equal monthly installments in accordance with the Company’s payroll policies. 
 (b) Benefit
Plans, Fringe Benefits and Vacations. Executive shall be eligible to participate in or receive benefits under employee benefit or fringe benefit plans, including health, dental and disability insurance, generally made available by
(i) the Company to its executives or (ii) by Parent to officers of its subsidiaries, in each case without duplication Executive’s entitlement to such benefits shall be determined in accordance with Company policy as established or
approved from time to time by the Board of Directors and/or the board of directors of the Parent and the eligibility requirements of such plans. 
 (c) Expense Reimbursement. The Company shall reimburse Executive for such of the ordinary and necessary business expenses incurred by Executive in the performance of his duties under this Agreement as shall be
reimbursable in accordance with the Company’s policies and practices applicable to executives, provided at all times that such expenses are incurred and accounted for in accordance with the Company’s policies. In no event shall
Executive be 

  

 2 

 
entitled to reimbursement of an expense the proof for which is submitted more than 45 days following the close of the fiscal year in which such expense was
incurred. 
 (d) Annual Bonus Plans. Executive shall be eligible for the fiscal year ending June 30, 2008
(prorated) and thereafter to be considered for an annual performance bonus of up to 60% of his Base Salary in the discretion of the Compensation Committee of the board of directors of Parent a portion of which may be discretionary and a portion of
which may be based on attainment of performance objectives approved by the Board of Directors of the Company with the consent of Parent, in its sole and absolute discretion, and Executive’s contributions to the attainment of those objectives.
Such bonuses, if any, shall be awarded and payable in accordance with management incentive plans of Parent applicable to executive officers of the Company. The criteria for such bonus shall be established from time to time by the Compensation
Committee of the Board of Directors of Parent based upon substantially the same criteria as annual cash bonuses generally awarded to executive officers of the Parent, which may take into account, among other things, intrinsic differences in job
duties and responsibilities. Any actual bonus award shall be in such amount and payable in such manner, and otherwise be on such terms, as are determined by the Compensation Committee of the Board of Directors of Parent. 
 Any provision to the contrary notwithstanding, the Company will make all payments under this Section 4(d) not later than September 15 of
the fiscal year following the end of the fiscal year in which the payments are no longer subject to a substantial risk of forfeiture; provided that if calculation of the payment amount is not administratively practicable due to events beyond the
Company’s control or if the Company has insufficient funds so that such payment would jeopardize the solvency of the Company, the payment may be delayed until the first fiscal year in which the payment is administratively practicable and the
funds of the Company are sufficient. 
 (e) Stock Options. Executive shall be eligible to be considered for an annual
grant of stock options entitling the Executive to purchase shares of common stock of Parent (“Options”) as may from time to time be approved by the Compensation Committee of the board of directors of Parent. The criteria for such
awards shall be based upon substantially the same criteria as Option grants generally awarded to subsidiary employees of Parent, which may take into account intrinsic differences in job duties and responsibilities. 
 (f) Closing Stock Options Bonus. The chief executive officer of Parent will recommend to the Compensation Committee of Parent that
Executive be granted, as of the date of this Agreement or at the next scheduled meeting of such Compensation Committee, nonqualified stock options entitling Executive to purchase that number of shares of common stock of Parent with exercise prices
and vesting terms as set forth on Exhibit B. Such stock options shall be awarded pursuant to a stock option award agreement of Parent containing such terms as are generally applicable to other subsidiary employees of the Parent, except as may
otherwise be provided in Exhibit B. 
 (g) Closing Cash Bonus. Upon the closing of the transactions contemplated
by the Stock Purchase Agreement, Executive will receive a cash bonus of $100,000 which will be paid promptly after the closing of the transaction contemplated by the Stock Purchase Agreement, but 

  

 3 

 
in no event shall such cash bonus be paid later than September 15 of the fiscal year following the end of the fiscal year in which such transactions
closed. 
 5. TERMINATION OF EMPLOYMENT. 
 Executive’s employment under this Agreement may be terminated under any of the circumstances set forth in this Section 5: 
 (a) Death or Disability. Executive’s employment hereunder shall terminate automatically upon Executive’s death. In such event, Executive’s estate shall be entitled to receive any earned and unpaid Base
Salary, prorated through the date of death. If, in the judgment of the Board of Directors of Parent, Executive is unable to engage in substantial gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than 12 months; or, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company or Parent (“Disabled” or
“Disability”), then Executive acknowledges that he would be unable to perform the essential functions of his job and the Company may terminate the Executive’s employment upon written notice to Executive. The date of Disability
shall be the date specified by the Board of Directors of the Company in the written notice provided to Executive by the Company. In the event of termination due to Disability, Executive shall be entitled to receive any earned and unpaid Base Salary,
prorated through the date of Disability. While receiving Disability income payments under any Company or Parent Disability income plan, Executive shall not be entitled to receive any Base Salary hereunder, but shall continue to participate in the
Company’s benefit plans, to the extent permitted by such plans, until the termination of his employment. Termination of his employment for Disability shall not restrict or limit the Executive’s opportunity to receive continued benefits
under the Company’s then existing Disability plans(s) in accordance with and to the extent as may be provided by the terms of such plan(s). 
 (b) Termination Without Cause. This Agreement may be terminated by Executive or by the Company at any time, for any reason or without cause or reason, by giving thirty (30) days prior written notice to the other
party. In the event the Company terminates Executive’s employment without “Cause” (other than due to Executive’s death or Disability), then Executive shall be entitled to any earned and unpaid Base Salary prorated through
the date of termination and severance pay in the form of continuation of payment of his annualized base salary for a period equal to the remaining current term of the Agreement, which shall be paid in accordance with the Company’s regularly
scheduled payroll practices and subject to any and all applicable taxes and statutory deductions. 
 (c) Termination For
Cause. This Agreement may be immediately terminated by the Company for “Cause” without notice at any time and without further obligation, except for Base Salary earned through the date of termination, for any of the following
reasons: (i) fraud, misrepresentation, or dishonesty; (ii) indictment or conviction of Executive for criminal acts or conduct or the entering by Executive of a plea of “guilty”, “no contest”, or “nolo
contendere” to any crime involving dishonesty or moral turpitude; (iii) repeated (after notice) inattention to or 

  

 4 

 
failure in any material respect to properly and adequately perform duties and responsibilities assigned to Executive by the Company, such performance to be
judged in the Board of Directors of the Company’s discretion; (iv) substance abuse or intentional misconduct; or (v) the engaging by Executive in any act or activity prohibited under the terms of this Agreement which is not
discontinued and the effects thereof cured to the satisfaction of the Company and Parent within 10 days after notice thereof from the Company or Parent. 
 (d) Delay in Payments. Any provision in this Agreement to the contrary notwithstanding, if Executive is a “specified employee” within the meaning of Section 409A of the Internal
Revenue Code (“Code”), any cash or in-kind payments which constitute a “deferral of compensation” under Code Section 409A and which would otherwise become due under this Agreement during the first six (6) months
(or such longer period as required by Code Section 409A) after termination of the Executive’s employment for reasons other than death or Disability shall be delayed and all such delayed payments shall be paid in full in the seventh
(7th) month after the date of termination of employment, and all subsequent payments shall be paid in accordance with their original payment schedule. To the extent that any insurance premiums or other benefit contributions constituting a
“deferral of compensation” become subject to the above delay, Executive shall be responsible for paying such amounts directly to the insurer or other third party and shall receive reimbursement from the Company for such amounts in the
seventh (7th) month as described above. The above delay shall not apply to any payments that are excepted from coverage by Code Section 409A, such as those payments covered by the short-term deferral exception described in Treasury
Regulations Section 1.409A-1(b)(4). 
 (e) Definition of Termination. “Termination of employment”
and “termination” as used in this Agreement to determine the date of any payment, shall mean the date of the Executive’s “separation from service” as defined by Code Section 409A. 
 6. RESTRICTIVE COVENANTS. 
 (a)
Confidentiality. Executive acknowledges that the Company through the Subsidiary and otherwise is engaged in the Home Care Business as more fully defined and set forth on Exhibit C. Executive further acknowledges that in
order to conduct the Home Care Business, the Company and its Affiliates own and use Confidential Information (as hereinafter defined) as well as trade secrets. Executive agrees that, both during and after termination of his employment for any
reason, Executive will hold in a fiduciary capacity for the benefit of the Company and its Affiliates, and shall not, without the prior written consent of Parent and the Company, directly or indirectly use (for his own benefit or for the benefit of
any other person or entity) or disclose, except as authorized by the Company in connection with the performance of Executive’s duties, any Confidential Information, as defined hereinafter, that Executive may have or acquire (whether or not
developed or compiled by Executive and whether or not Executive has been authorized to have access to such Confidential Information) during the term of, or in connection with, his employment. The term “Confidential Information” as
used in this Agreement shall mean and include any information, data and know-how relating to the business of the Company that is disclosed to Executive by the Company or known by him as a result of his relationship with the Company and not generally
within the public domain (whether constituting a trade secret or not), including without limitation, the following information: 
  

 5 

 (i) financial information, such as the earnings, assets, debts, prices, fee structures,
volumes of purchases or sales or other financial data of the Company and its Affiliates, whether relating to Company or its Affiliates generally, or to particular products, services, geographic areas, or time periods; 
 (ii) supply and service information, such as information concerning the goods and services utilized or purchased by the Company or its
Affiliates, the names or addresses of suppliers, terms of supply or service contracts, or of particular transactions, or related information about potential suppliers, to the extent that such information is not generally known to the public, and to
the extent that the combination of suppliers or use of a particular supplier, though generally known or available, yields advantages to Company or its Affiliates, the details of which are not generally known; 
 (iii) marketing information, such as details about ongoing or proposed marketing programs or agreements by or on behalf of Company or its
Affiliates, marketing forecasts or results of marketing efforts or information about impending transactions; 
 (iv) personnel
information, such as Executives’ personal or medical histories, compensation or other terms of employment, actual or proposed promotions, hirings, resignations, disciplinary actions, terminations or reasons therefore, training methods,
performance, or other Executive information; 
 (v) customer information, such as any compilation of past, existing or
prospective customers, customer proposals or agreements between customers and the Company or its Affiliates, status of customer accounts or credit, or related information about actual or prospective customers; and 
 (vi) information provided to the Company or its Affiliates by a third party under an obligation of confidentiality. 
 The term “Confidential Information” does not include information that has become generally available to the public by the act of one who
has the right to disclose such information without violating any right of the Company or its Affiliates or the customer to which such information pertains; or information already known to Executive at the time of such disclosure to him and under
circumstances where Executive had no other duty of confidentiality to the Company or its Affiliates or third parties with respect to the disclosed information, if such pre-existing knowledge is documented by a written, dated record in
Executive’s possession before the date of the disclosure of Confidential Information to Executive; or subsequently received by Executive in good faith from a third party having the prior right to make such disclosure and authorize its public
disclosure. 
 The covenants contained in this Section 6 shall survive the termination of Executive’s employment with the
Company for any reason for a period of two (2) years; provided, however, that with respect to those items of Confidential Information which constitute a trade secret under applicable law, the Executive’s obligations of
confidentiality and non-disclosure as set forth in this Section 6 shall continue to survive after said two (2) year period to the greatest extent 

  

 6 

 
permitted by applicable law. These rights of the Company and its Affiliates are in addition to those rights the Company or its Affiliates have under the
common law or applicable statutes for the protection of trade secrets. 
 (b) Non-Solicitation: Employees or Sales
Representatives. During the Executive’s employment and for two (2) years immediately following cessation of Executive’s employment with the Company for any reason, Executive will not solicit or in any manner encourage
employees of the Company or Parent or their respective Affiliates to leave the employ of the Company. The foregoing prohibition applies only to employees with whom Executive had Material Contact pursuant to Executive’s duties during the twelve
(12) month period immediately preceding cessation of Executive’s employment with the Company. “Material Contact” under this subsection means interaction between the Executive and another employee of the Company or Parent
or their respective Affiliates: (i) with whom Executive actually dealt; or (ii) whose employment or dealings with the Company or Parent or their respective Affiliates or services for the Company or Parent or their respective Affiliates
were handled, coordinated or supervised by the Executive. 
 (c) Non-Solicitation; Customers. During Executive’s
employment and for two (2) years immediately following cessation of Executive’s employment with the Company for any reason, Executive shall not, on Executive’s own behalf or on behalf of any Person (except the Company or Parent or
their respective Affiliates), solicit any customer of the Company or Parent or their respective Affiliates, or any representative of any customer of the Company with a view to selling or providing any product, equipment or service competitive with
any product, equipment or service sold or provided by the Company in the Home Care Business during the twelve (12) month period immediately preceding cessation of Executive’s employment with the Company; provided that the
restrictions set forth in this section shall apply only to customers of the Company or Parent or their respective Affiliates, or representatives of customers of the Company or Parent or their respective Affiliates with whom Executive had Material
Contact during such twelve (12) month period. “Material Contact” under this subsection exists between Executive and each of the customers of the Company or of the Parent or of their respective Affiliates: (i) with whom
Executive actually dealt for a business purpose while employed by the Company or to further a business relationship between the customer and the Company or Parent or their respective Affiliates, including, without limitation, those customers and
potential customers to which the Company or Parent or their respective Affiliates have submitted a proposal to provide products or services as to which Executive had material involvement; (ii) whose dealings with the Company or Parent or their
respective Affiliates were handled, coordinated or supervised by Executive; or (iii) about whom Executive obtains or has obtained Confidential Information in the ordinary course of business as a result of Executive’s association with the
Company or Parent or their respective Affiliates; or (iv) as to any customer which receives or has received products or services from the Company or Parent or their respective Affiliates, the sale or provision of which results, or has resulted,
in earnings or income being included in the calculation of any performance based compensation of Executive. 
 (d)
Non-Compete. Executive shall comply with the non-compete covenant set forth in Exhibit C hereto. 
  

 7 

 (e) Survival; Tolling of Period of Restraint. Notwithstanding the termination of
this Agreement, Executive hereby expressly agrees that (i) the provisions contained in this Section 6 shall survive for the periods necessary to give effect to the provisions thereof, and (ii) any purported violation of the
restraints set forth in this Section 6 shall automatically toll and suspend the period of the restraint and extend the term of this Agreement for the amount of time from the date Executive or Company or an Affiliate commences litigation
with respect to the enforceability of such provisions and/or such purported violation until a final, non-appealable decision is rendered or the parties otherwise resolve the purported violation; provided that the applicable period of
restraint shall not be extended unless there shall have been a violation of the restraints set forth in the applicable section at issue during such period of time. 
 (f) Acknowledgements Executive hereby acknowledges and agrees that the restrictions contained in Section 6 and Exhibit C are fair and reasonable and necessary for the protection
of legitimate business interests of the Company, Parent and their respective Affiliates. Executive acknowledges that in the event the Executive’s employment with the Company terminates for any reason, the Executive will be able to earn a
livelihood without violating the restrictions contained in Section 6 and Exhibit C and that the Executive’s ability to earn a livelihood without violating such restrictions is a material condition to the Executive’s
employment and continued employment with the Company. 
 7. NON-DISPARAGEMENT. 
 Executive covenants and agrees that during the course of his employment by the Company or at any time thereafter during which Executive is receiving
payments or other benefits of any kind from the Company or Parent or their respective Affiliates, Executive shall not, directly or indirectly, in public or private, deprecate, impugn, disparage, or make any remarks that would tend to or be construed
to tend to defame the Company or Parent or their respective Affiliates or any of their employees, members of their board of directors or agents, nor shall Executive assist any other Person, in so doing. 
 8. CONFLICT OF INTEREST. 
 Executive may not use his
position, influence, knowledge of confidential information or the Company assets for personal gain. A direct or indirect financial interest, including joint ventures in or with a supplier, vendor, customer or prospective customer without disclosure
and written approval from the Board is strictly prohibited and constitutes Cause for dismissal. 
 9. ENFORCEMENT OF COVENANTS. 
 (a) Termination of Employment and Forfeiture of Compensation. Executive agrees that in the event that the Company determines that he has
breached any of the covenants set forth in Section 6 above during his employment, the Company shall have the right to terminate his employment for Cause. 
 (b) Injunctive Relief. Executive understands, acknowledges and agrees that in the event of a breach or threatened breach of any of the covenants and promises contained in this Agreement, the Company,
Parent and one or more of their respective Affiliates will suffer irreparable injury for which there is no adequate remedy at law and the Company, Parent and one 

  

 8 

 
or more of their respective Affiliates will therefore be entitled to obtain, without bond, injunctive relief enjoining said breach or threatened breach. The
Executive further acknowledges, however, that the Company, Parent and one or more of their respective Affiliates shall have the right to seek a remedy at law as well as or in lieu of equitable relief in the event of any such breach. 
 (c) Executive’s Obligations Upon Termination. Upon the termination of Executive’s employment hereunder for whatever
reason, Executive shall automatically tender Executive’s resignation from any office Executive may hold with the Company, Parent or their respective Affiliates (whether as an officer, director or otherwise), and Executive shall not at any time
thereafter represent himself to be connected or to have any connection with the Company, Parent or any of their respective Affiliates. 
 10. WITHHOLDING
OF TAXES. 
 The Company, Parent and their respective Affiliates shall withhold from any compensation and benefits payable under this
Agreement all applicable federal, state, local, or other taxes. To the extent that the Company determines that any compensation or benefits cannot be used to satisfy any such withholding obligation, Executive agrees to promptly satisfy such
withholding by providing a check for any shortfall to the Company or its designee. 
 11. ARBITRATION. 
 All claims, disputes or controversies arising out of or relating to Executive’s employment or cessation of employment with the Company, benefits provided by Parent
or their respective Affiliates or this Agreement, or the breach thereof (including, without limitation, any claim that any provision of this Agreement or any obligation of Executive is illegal or otherwise unenforceable or voidable under law,
ordinance or ruling or that Executive’s employment by the Company was illegally terminated) shall be settled exclusively by final and binding arbitration before a neutral arbitrator through arbitration administrated by the
American Arbitration Association under its National Rules for the Resolution of Employment Disputes, and judgment upon the award rendered by the arbitrator may be entered by any court having competent jurisdiction thereof, with costs of the
arbitration proceeding and the arbitrator’s fees to borne by the Company. By way of example only, such claims include claims under federal, state, and local statutory or common law, such as the Age Discrimination in Employment Act, Title VII of
the Civil Rights Act of 1964, as amended, including the amendments of the Civil Rights Act of 1991, the Americans with Disabilities Act, and contract and tort laws. Any payments which would otherwise become due under this Agreement that are the
subject of a dispute may be delayed to the extent permitted under Section 409A of the Internal Revenue Code. The Company and Executive each consents and submits to the personal jurisdiction and venue of the trial courts of Cobb County, Georgia,
and also to the personal jurisdiction and venue of the United States District Court for the Northern District of Georgia for purposes of enforcing this provision. All awards of the arbitration shall be binding and non-appealable except as otherwise
provided in the United States Arbitration Act. Judgment upon the award of the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator shall have the authority to order and award, among other things, specific performance of
any obligation created under this Agreement, the issuance of an injunction or other provisional relief, or the imposition of sanctions for abuse or frustration of the arbitration process. The parties shall be entitled to 

  

 9 

 
engage in reasonable discovery, including a request for the production of relevant documents. Depositions may be ordered by the arbitrator upon a showing of
need. The foregoing provisions shall not preclude the Company from bringing an action in any court of competent jurisdiction for injunctive or other provisional relief as the Company may determine is necessary or appropriate. This Section must be
initialed below by Executive and on behalf of the Company. 
  

															
		 	  
	  	          
	  	  
	  		  		  		  	
		 	Executive	  	Company                        	  	Date                                	  		  		  		  	

 12. NO CLAIM AGAINST ASSETS. 
 Nothing in this Agreement shall be construed as giving Executive any claim against any specific assets of the Company or Parent or any of their respective Affiliates or as imposing any trustee relationship upon the
Company or Parent or any of their respective Affiliates in respect of Executive. Neither the Company nor the Parent nor any of their respective Affiliates shall be required to establish a special or separate fund or to segregate any of its assets in
order to provide for the satisfaction of any obligations under this Agreement. Executive’s rights under this Agreement shall be limited to those of an unsecured general creditor of the Company. 
 13. SUCCESSORS AND ASSIGNMENT. 
 Except as otherwise
provided in this Agreement, this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, representatives, successors and assigns. The rights and benefits of Executive under this Agreement are
personal to him and no such right or benefit shall be subject to voluntary or involuntary alienation, assignment or transfer; provided, however, that nothing in this Section 13 shall preclude Executive from designating a beneficiary or
beneficiaries to receive any benefit payable on his death. 
 14. ENTIRE AGREEMENT; AMENDMENT. 
 This Agreement shall supersede any and all existing oral or written agreements, representations, or warranties between Executive and the Company, Parent
or any of their subsidiaries or Affiliates relating to the terms of Executive’s employment, including benefits with respect thereto. It may not be amended except by a written agreement signed by both Executive and the Company. 
 15. GOVERNING LAW. 
 This Agreement has been executed
and delivered in, and shall be governed by and construed in accordance with the domestic substantive laws of, the State of Georgia, without giving effect to any conflicts or choice of laws rule or provision that would result in the application of
the domestic substantive laws of any other jurisdiction. Employee acknowledges and agrees that the foregoing shall apply regardless of the office or location where he may be employed by the Company from time to time. 
  

 10 

 16. NOTICES. 
 Any notice, consent, request or other communication made or given in connection with this Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by registered or certified mail, return receipt
requested, or by confirmed facsimile or confirmed electronic mail or by hand delivery, to those listed below at their following respective addresses or at such other address as each may specify by notice to the others: 
  

			
	To the Company:	  	
		  	 c/o SunLink Health Systems, Inc.
 900 Circle 75 Parkway

 Suite 1120
 Atlanta, Georgia 30339
 Attn: Robert M. Thornton, Jr.
 President and Chief Executive
Officer
 Telephone No.: (770) 933-7000
 Telecopy No.:
(770) 933-7010

	To Executive:
	
	At the address set forth on the signature page of this Agreement

 17. MISCELLANEOUS. 
 (a) Waiver. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of this Agreement. 
 (b) Assistance in
Litigation. Executive shall, upon reasonable notice, furnish such information and assistance to the Company as may reasonably be required by the Company or Parent or any of their respective Affiliates in connection with any litigation in
which it is, or may become, a party, and which arises out of facts and circumstances known to Executive. During the Employment Term and during the period, if any, during which he receives compensation from the Company following the Employment Term,
the Company shall promptly reimburse Executive for his out-of-pocket expenses incurred in connection with the fulfillment of his obligations under this Section and if Executive is no longer employed by Company or then receiving compensation from the
Company hereunder, the Executive shall be reimbursed by the Company for Executive’s time at a rate established by the Company comparable to the rate earned by Executive during his Employment Term. 
 (c) Severability. The parties covenant and agree that the provisions contained herein are reasonable and are not known or believed
to be in violation of any federal, state, or local law, rule or regulation. Except as noted below, should any provision of this Agreement be declared or determined by any court of competent jurisdiction to be unenforceable or invalid for any reason,
the validity of the remaining parts, terms or provisions of this Agreement shall not be affected 

  

 11 

 
thereby and the invalid or unenforceable part, term or provision shall be deemed not to be a part of this Agreement. 
 (d) Headings. Section headings are used herein for convenience of reference only and shall not affect the meaning of any provision
of this Agreement. 
 (e) Rules of Construction. Whenever the context so requires, the use of the singular shall be
deemed to include the plural and vice versa. 
 (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, and such counterparts will together constitute but one Agreement. 
 (g) Null and Void. This Agreement shall be null and void and of no force and effect in the event the Stock Purchase Agreement is terminated other than in connection with the consummation of the transactions contemplated
thereby. 
 [Remainder of Page Intentionally Left Blank] 
  

 12 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
set forth below. 
  

			
	SUNLINK HOMECARE SERVICES, LLC
	
	By:
	 
	
	Name:
	 
	
	Title:
	 
	
	Date:
	 
		 	
	
	  
 EXECUTIVE:

	
	 
	George D. Shaunnessy
	
	Date:
	 
	
	Address:
	  

	
	  

	
	Fax Number:
	 
	
	E-Mail Address:
	 
		 	

  

 13 

 EXHIBIT A 
 JOB TITLE: President of the Company 
 Reports to the Board of Directors of Company and to the chief executive officer
of Parent. 
 POSITION SUMMARY: 
 ESSENTIAL
RESPONSIBILITIES: 
  

	 	•	 	 Scope of responsibilities, duties, authority as defined from time to time by the Board of Directors of the Company or the chief executive officer of the Parent.

  

	 	•	 	 Responsible for managing activities with respect to (i) identification and acquisition of additional home infusion, pharmacy, home health care and other
similar or comparable businesses, (ii) general management of the Company including overall management of (A) the operations and personnel of the Company and the Subsidiary, (B) the marketing, sale and provision of home care services
and (C) the acquisition, development, distribution, marketing and sale of drugs and/or similar products in connection with the Home Care Business. In addition to his duties with respect to the foregoing, Executive will have such other
responsibilities as may be delegated to him from time to time by the chief executive officer or board of directors of the Parent (collectively the “Additional Duties”). 

  

	 	•	 	 Responsibility for hiring and firing of non-executive personnel engaged in business of the Company and the Subsidiary. 

  

	 	•	 	 Exercises discretionary authority only as authorized by either the Board of Directors, the chief executive officer of Parent or the board of directors of the
Parent. 

 LIMITATIONS ON AUTHORITY 
 Notwithstanding anything in this Agreement to the contrary, Executive shall not, without the prior specific approval of either the Board of Directors of the Company, the chief executive officer of Parent or the board of directors of the
Parent, take any of the following actions: 
 (i) hire or fire any officer or executive employee of the Company or the Subsidiary; 
 (ii) adjust upward or downward any annual, long-term or other compensation of any officer or executive employee of the Company or the Subsidiary; 
 (iii) enter into any agreement requiring the Company or the Subsidiary to make payments or to provide goods or services except (A) sale of inventory or provision of
services in the ordinary course of business in accordance with the policies of the Company or the Subsidiary or (B) as may be specifically approved by either the chief executive officer of Parent or the board of directors of Parent; 

 

 1 

 (iv) enter into any loan agreement or other credit arrangement; 
 (v) enter into any agreement to sell, lease, or otherwise dispose of any of the assets of the Company or the Subsidiary except the sale of inventory in the ordinary
course of business; 
 (vi) enter into any agreement to acquire, purchase, lease or otherwise obtain any assets on behalf of the Company except
(A) inventory in the ordinary course of business or (B) as approved by either the chief executive officer of Parent or the board of directors of Parent; 
 (vii) institute any business activities that are not (A) normally considered a part of the Home Care Business or (B) specifically contemplated by the Additional Duties; 
 (viii) discontinue any business activities that are normally considered a part of the Home Care Business or Executive’s Additional Duties; 
 (ix) authorize the filing of any petition for relief on behalf of the Company or the Subsidiary in any bankruptcy or insolvency proceeding or file or bring any
litigation on behalf of the Company or the Subsidiary; 
 (x) amend or terminate any agreement entered into by the company or the Subsidiary in connection
with the Stock Purchase Agreement; or 
 (xi) take any other action contrary to the Company’s and Parent’s written policies, including Code of
Conduct. 
  

 2 

 EXHIBIT B 
 Closing Stock Option Bonus* 
  

									
	A.	  	Type	  	 Vesting
	  	 Exercise Price
	  	 Number of Options

		  	NQSO	  	Immediately upon closing of the transactions contemplated by the Stock Purchase Agreement	  	Fair market value as of the date of grant**	  	40,000
					
		  	NQSO	  	One third of the total number of Options set forth to the right per year beginning upon the first anniversary of the date of grant	  	Fair market value as of the date of grant	  	60,000
					
	B.	  	Type	  	 Vesting
	  	 Exercise Price
	  	 Number of Options

		  	NQSO	  	One fifth of the total number of Options set forth to the right per year beginning upon the first anniversary of the date of grant	  	Greater of (i) fair market value at date of grant or (ii) $8.00 per share**	  	100,000

 * All stock options will be issued under one or more of Parent’s equity incentive plans, as in effect from
time to time. 
 ** In order to comply with Section 409A of the IRC, the exercise price for an option may never be less than the fair market
value of the stock at the date of grant.
  

 1 

 EXHIBIT C 
  

	(a)	Non-Competition. 

 (i) During
the term of this Agreement, and for a period equal to the longer of any period during which Executive shall continue to receive compensation or other remuneration (including any severance benefits payments from the Company), or two
(2) years after termination of this Agreement for any reason, Executive agrees not to engage in any Competitive Activity within the Non-Compete Territory. 
 (ii) Executive acknowledges and agrees, based upon the nature of the Company’s business and its current activities, that the
Non-Compete Territory as of the date of this Agreement currently consists of the following Parishes in the State of Louisiana: Lafayette, Jeff Davis, Acadia, Calcasieu, Vermillion, Beauregard, and St. Landry and in the States of North Carolina,
South Carolina, Georgia, Florida, Alabama, Mississippi, Tennessee, Kentucky, Arkansas and Missouri where Executive has or has had, or Executive is anticipated to have, Material Contact on behalf of the Company or Parent during the term of the
Agreement; provided, however, that at the time of determination, the scope of the Non-Compete Territory shall be reduced to the Executivecentric Non-Compete Territory. 
  

	(b)	Additional Definitions. 

 For purposes of the
Agreement and this Exhibit C, the Agreement shall have the following additional definitions: 
 (i)
“Affiliate” means Parent, any direct or indirect subsidiary of Parent or the Company and any person or entity under control of, or under common control with, Parent or Company or otherwise an “affiliate” of Company or
Parent within the meaning of the Securities Exchange Act of 1934, as amended to date. 
 (ii) “Competitive
Activity” means any activity in which the Executive directly or indirectly owns, manages, operates, controls, is employed by in a sales, executive, managerial, business development or business technology capacity (whether as an employee or
independent contractor) or participates in the ownership, management, operation or control of, any business (a “Competitor”) that is engaged, either directly or indirectly, in the provision of services or products which are part of
the Home Care Business to any Healthcare Entity. 
 (iii) “Healthcare Entity” means a pharmacy, nursing home,
hospice, hospital, outpatient or ambulatory surgery or diagnostic center, physician’s office, physician’s clinic, assisted living center or rehabilitation center. 
 (ii) “Home Care Business” means the provision of home infusion or home health and related services and the sourcing,
distribution, and sale of prescription drugs, healthcare products or equipment to any Person or Healthcare Entity. 
  

 1 

 (v) “Material Contact” solely for purposes of this Exhibit C
means communication between Executive and each customer or potential customer: (i) with whom Executive dealt, including, without limitation, those customers and potential customers to which the Company or Parent, or any of their respective
Affiliates, have submitted a proposal to provide services or products as to which Executive had material involvement; (ii) whose dealings with the Company or Parent or any of their respective Affiliates were coordinated or supervised by
Executive; (iii) about whom Executive obtained Confidential Information in the ordinary course of business as a result of Executive’s association with the Company or Parent or any of their respective Affiliates; or who receives services or
products authorized by the Company or Parent or any of t their respective Affiliates, the sale or provision of which results or resulted in earnings or income being included in any performance based compensation of Executive. 
 (vi) “Executivecentric Non-Compete Territory” means (i) during the term of this Agreement any parish in the State of
Louisiana specified in Clause (a) (ii) above and any other geographic area outside the State of Louisiana in which the Company, Parent or any of their respective Affiliates has business or operations which will be performed, supervised by
or assisted in by Executive during the term of this Agreement, or in which the Company, Parent or any of their respective Affiliates has customers or has actively sought prospective customers, in each case, with whom Executive has Material Contact
while employed by the Company; and (ii) thereafter means any parish in the State of Louisiana specified in Clause (a) (ii) above and any other geographical area outside the State of Louisiana in which the Company, Parent or any of their
respective Affiliates continues to have business or operations or previously had business or operations as of the date of this Agreement which were performed, supervised by or assisted in by Executive, or in which the Company, Parent or any of their
respective Affiliates has customers or has actively sought prospective customers as of the date of this Agreement, in each case, with whom Executive had Material Contact while employed by the Company. 
 (vii) “Person” means an individual, corporation, partnership, association, trust, business trust, limited liability
company, joint venture, joint stock company, pool, syndicate, sole proprietorship, unincorporated authority, governmental entity or other form of entity or group. 
  

 2Seventh Supplemental Indenture dated as of May 1, 2008

 Exhibit 4.20 
  
  
  
 TAMPA ELECTRIC COMPANY 
 and 
 THE BANK OF NEW YORK, 
 As Trustee 

 
  
 SEVENTH SUPPLEMENTAL INDENTURE 
 dated as of May 1, 2008 
 Supplementing the Indenture 
 dated as of
July 1, 1998 
  
  
 $150,000,000 
 6.10% Notes Due 2018

  
  
  

 TABLE OF CONTENTS 
  

									
	 	 	 	 	 	 	 	 	Page
	ARTICLE ONE	 	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	2
					
		 	Section 101.	 		 	Definitions	 	2
		 	Section 102.	 		 	Section References	 	3
			
	ARTICLE TWO	 	DESIGNATION AND TERMS OF THE NOTES	 	3
					
		 	Section 201.	 		 	Establishment of Series	 	3
		 	Section 202.	 		 	Variations in Terms of the Notes	 	3
		 	Section 203.	 		 	Amount and Denominations; the Depositary	 	4
		 	Section 204.	 		 	Stated Maturity	 	4
		 	Section 205.	 		 	Interest Rates and Interest Payment Dates	 	4
		 	Section 206.	 		 	Form and Other Terms of the Notes	 	4
		 	Section 207.	 		 	Authentication and Delivery	 	5
		 	Section 208.	 		 	Redemption; No Sinking Fund	 	5
			
	ARTICLE THREE	 	MISCELLANEOUS	 	6
					
		 	Section 301.	 		 	Effect On Original Indenture	 	6
		 	Section 302.	 		 	Counterparts	 	6
		 	Section 303.	 		 	Recitals	 	6
		 	Section 304.	 		 	Governing Law	 	6
		 	Section 305.	 		 	Force Majeure	 	6
		 	Section 306.	 		 	Waiver of Jury Trial	 	6
		 	Section 307.	 		 	Damages	 	7
	
	EXHIBIT A: Form of Note
	
	EXHIBIT B: Supplemental Company Order

  

 -i- 

 This Seventh Supplemental Indenture, dated as of May 1, 2008, is between Tampa Electric Company, 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, 8 West, New York, New York 10286. 
 WITNESSETH: 
 WHEREAS, the Company and the
Trustee entered into an Indenture, dated as of July 1, 1998, as amended by a Third Supplemental Indenture, dated as of June 15, 2001, between the Company and the Trustee (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 Seventh
Supplemental Indenture in order to supplement and amend the Original Indenture by, among other things, establishing the form and terms of a series of Securities to be known as the Company’s “6.10% Notes due 2018” (the
“Notes”); and 
 WHEREAS, the Company and the Trustee desire to enter into this Seventh 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 Seventh Supplemental Indenture; and 
 WHEREAS, all things necessary to
make this Seventh 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 SEVENTH 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 Seventh Supplemental Indenture are hereinafter sometimes collectively referred to as the “Indenture.” 
 “Business Day” means any day other than (i) 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, or (ii) a day on which the Corporate Trust Office of the Trustee is closed for business. 
 “Comparable
Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes; provided, however, that if the remaining term of the Notes to be redeemed is less
than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 
 “Comparable Treasury Price” means with respect to any redemption date (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. 
 “Depositary” means The Depository Trust Company or its successor. 
 “Independent Investment Banker” means any of Morgan Stanley & Co. Incorporated, or BNP Paribas Securities Corp. 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” means May 15 and November 15 of each year. 
 “Notes” has the meaning set forth in the preamble hereof. 
 “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. 
 “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. 
  

 - 2 - 

 “Reference Treasury Dealer” means: 
 (i) Morgan Stanley & Co. Incorporated and BNP Paribas Securities Corp. or their affiliates, 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 three 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 3:30 p.m., New
York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, as of any redemption
date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the second Business Day immediately preceding that redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 
 Section 102. Section
References 
 Each reference to a particular section set forth in this Seventh Supplemental Indenture shall, unless the context otherwise
requires, refer to this Seventh Supplemental Indenture. 
 ARTICLE TWO 
 Designation and Terms of the Notes 
 Section 201. Establishment of Series

 There is hereby created a series of Securities to be known and designated as the “6.10% Notes due 2018”, 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 Seventh 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. 
  

 - 3 - 

 Section 203. Amount and Denominations; the Depositary 
 (a) The initial principal amount of Notes that may be issued under this Seventh Supplemental Indenture shall be $150,000,000. Additional Notes may be
issued under this Seventh 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. 
 (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 15, 2018. 
 Section 205. Interest Rates and Interest Payment Dates 
 (a) Interest Rate. The Notes
shall bear interest at the annual rate of 6.10% from the Original Issue Date to the date on which the principal shall become due on the Stated Maturity, and if such principal is not fully paid on the Stated Maturity, until such principal is paid in
full. Interest on the Notes will be payable semi-annually on each Interest Payment Date, commencing on November 15, 2008. Such interest will be payable to the holder thereof as of the related Record Date. 
 (b) Computation of Interest. The amount of interest payable for any period will be computed on the basis of a year of 360 days consisting of
twelve 30-day months. Except for the effect of any adjustment in the Interest Payment Date as provided in the following sentence, the amount of interest payable for any period shorter than a full six-month period for which interest is computed, will
be computed on the basis of the actual number of days elapsed in such a 180-day period. If any Interest Payment Date would otherwise be a day that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed
to the next succeeding Business Day, and no interest will accrue on such payment for the period from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the
next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such Interest Payment Date. 
 Section 206. Form and Other Terms of the Notes 
 (a) Attached hereto as Exhibit A is the
form of Note, which form is hereby established as the form in which the Notes may be issued and which shall be completed with the series designation, Stated Maturity, interest rate and CUSIP number applicable to the Notes upon such issuance.

  

 - 4 - 

 (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 Seventh 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 Seventh Supplemental Indenture, the Company shall deliver a Supplemental Company Order in the form of Exhibit B to this Seventh Supplemental Indenture
(which form shall be completed upon delivery with the series designation applicable to the Notes) for the authentication and delivery of such Notes and the Trustee or such Authenticating Agent shall authenticate and deliver such Notes. 

Section 208. Redemption; No Sinking Fund 
 (a)
The Notes are subject to redemption, in whole or in part, at any time, at the option of the Company, at a redemption price equal to the greater of: 
 (i) 100% of the principal amount of Notes then outstanding to be redeemed, or 
 (ii) the sum
of the present values of the remaining scheduled payments of principal and interest on the Notes then outstanding to be redeemed (not including any portion of such payments of interest accrued as of the redemption date) discounted to the redemption
date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 35 basis points (0.35%), as calculated by an Independent Investment Banker, 
 plus, in either of the above cases, accrued and unpaid interest thereon to the redemption date. 
 (b) The Company will mail a notice of redemption at least 30 days but no more than 60 days before the redemption date to each holder of Notes to be
redeemed. If the Company elects to partially redeem the Notes, the Trustee will select in a fair and appropriate manner the Notes to be redeemed. 
 (c) Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. 
 (d) The Notes are not entitled to the benefit of any sinking fund or analogous provision. 
  

 - 5 - 

 ARTICLE THREE 
 Miscellaneous 
 Section 301. Effect On Original Indenture 
 The Seventh Supplemental Indenture is a supplement to the Original Indenture. As supplemented by this Seventh Supplemental Indenture, the Original
Indenture is in all respects ratified, approved and confirmed, and the Original Indenture and this Seventh Supplemental Indenture shall together constitute one and the same instrument. 
 Section 302. Counterparts 
 This Seventh 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 303. 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 Seventh Supplemental Indenture. 
 Section 304. Governing Law 
 This Seventh Supplemental Indenture shall be governed by and construed in accordance with
the laws of the jurisdiction that govern the Original Indenture and its construction. 
 Section 305. Force Majeure 
 In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused
by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances. 
 Section 306. Waiver of Jury Trial 
 EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 
  

 - 6 - 

 Section 307. Damages 
 In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss or profit) irrespective of whether the Trustee
has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 [The balance of this page intentionally
left blank.] 
  

 - 7 - 

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

			
	TAMPA ELECTRIC COMPANY
		
	By:	 	 /s/ Sandra W. Callahan

	Name:	 	Sandra W. Callahan
	Title:	 	Vice President – Treasurer and Assistant Secretary
	
	THE BANK OF NEW YORK, AS TRUSTEE
		
	By:	 	 /s/ Geovanni Barris

	Name:	 	Geovanni Barris
	Title:	 	Vice President

 Signature Page of Seventh Supplemental Indenture 

 Exhibit A 
 Form of Note 
  

			
	CUSIP NO.:                     	 	PRINCIPAL AMOUNT: $                    

 REGISTERED NO.          
 TAMPA ELECTRIC COMPANY 
 6.10% Notes Due 2018

  

	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:	 	INTEREST PAYMENT DATES:	 	SINKING FUND: None
	May 16, 2008	 	May 15 and November 15 of each year commencing November 15, 2008.	 	YIELD TO MATURITY: N/A
			
	ISSUE PRICE: 100% (as a percentage of principal amount)	 	
 SPECIFIED CURRENCY: U.S. dollars
	 	
	  
 STATED MATURITY: May 15, 2018
	 	 	REDEMPTION: Redeemable in whole or in part, at the Company’s option, from time to time at the redemption prices described on the reverse of this Note.
			
	INTEREST RATE: 6.10% per annum.	 	AUTHORIZED DENOMINATIONS: N/A (Only applicable if specified currency is other than U.S. dollars)	 	DEPOSITARY: The Depository Trust Company, or any successor depository.

  

 A-1 

 TAMPA ELECTRIC COMPANY, 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. 
  

 A-2 

 IN WITNESS WHEREOF, TAMPA ELECTRIC COMPANY has caused this instrument to be duly executed. 
 Dated:                     , 20    

  

							
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION	 		 	TAMPA ELECTRIC COMPANY
				
	 This is one of the series designated therein referred
 to
in the within-mentioned Indenture.
	 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
	 THE BANK OF NEW YORK,
 as Trustee
	 		 		 	

  

			
	By:	 	  

	 Authorized signatory

  

 A-3 

 (REVERSE OF NOTE) 
 TAMPA ELECTRIC COMPANY 
 6.10% Notes Due 2018 
 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 July 1, 1998, as supplemented by the Seventh Supplemental Indenture, dated as of May 1, 2008 (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, in
an initial aggregate principal amount of $150,000,000. 
 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” means any day other than (i) 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, or (ii) a day on which the Corporate Trust Office of the Trustee is closed for business. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining
term of such Notes; provided, however, that if the remaining term of the Notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one
year will be used. 
 “Comparable Treasury Price” means with respect to any redemption date (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. 
 “Depositary” shall mean The Depository Trust Company or any successor
depositary. 
 “Independent Investment Banker” means any of Morgan Stanley & Co. Incorporated, or BNP Paribas
Securities Corp. 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.

  

 A-4 

 “Interest Payment Date” means each of the dates on which interest on this Note is
payable, which dates are set forth on the face of this Note. 
 “Reference Treasury Dealer” means: 
  

	 	(i)	Morgan Stanley & Co. Incorporated and BNP Paribas Securities Corp. or their affiliates, 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 three 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 3:30 p.m., New York City time, on the third Business Day preceding such
redemption date. 
 “Treasury Rate” means, as of any redemption date, the rate per annum equal to the semiannual equivalent
yield to maturity (computed as of the second Business Day immediately preceding that redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to
the Comparable Treasury Price for that redemption date. 
 INTEREST RATE 
 This Note will bear interest at the rate per annum (computed based on a 360-day year consisting of twelve 30-day months) identified on the face of this
Note. Except for the effect of any adjustment in the Interest Payment Date as provided in the following sentence, the amount of interest payable for any period shorter than a full six-month period for which interest is computed, will be computed on
the basis of the actual number of days elapsed in such a 180-day period. If any Interest Payment Date would otherwise be a day that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed to the next
succeeding Business Day, and no interest will accrue on such payment for the period from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such Interest Payment Date. 
 OPTIONAL REDEMPTION 
 The Notes are subject to redemption, in whole or in part,
at any time, at the option of the Company, at a redemption price equal to the greater of: 
  

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

  

 A-5 

	 	(ii)	the sum of the present values of the remaining scheduled payments of principal and interest on the Notes then outstanding to be redeemed (not including any portion of such payments
of interest accrued as of the redemption date) discounted to the redemption date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 35 basis points (0.35%), as calculated by an
Independent Investment Banker, 

 plus, in either of the above cases, accrued and unpaid interest thereon to the redemption date. 

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. 
  

 A-6 

 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. 
  

 A-7 

 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	 	UNIF GIFT MIN ACT—                    	 	 	CUSTODIAN                    	 
	TEN ENT	 	— as tenants by the entireties	 	(Cust	)	 	(Minor	)
	JT TEN	 	— as joint tenants with right of survivorship Under Uniform Gifts to Minors Act and not as tenants in common
                                        
                                        
                                       
 	  
		 	 (State)
	 			 		

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

	
	 
	 

  

	
	 

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

	
	
	 
	
	 

 the within Security of TAMPA ELECTRIC COMPANY 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. 
  

 A-8 

 Exhibit B 
 TAMPA ELECTRIC COMPANY 
 6.10% NOTES DUE 2018 
 SUPPLEMENTAL COMPANY ORDER 
 Pursuant to Section 207 of Article Two of the Seventh
Supplemental Indenture, dated as of May 1, 2008, to the Indenture, dated as of July 1, 1998, as amended, you are instructed to prepare and authenticate a Note, of the series identified above, in the principal amount of
$                    . 
 IN
WITNESS WHEREOF, I have hereunto set my hand this      day of             , 20    . 
  

			
	TAMPA ELECTRIC COMPANY
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]