Compensatory Arrangements with Non-Management Directors
EX-10.22 4 d631907dex1022.htm COMPENSATORY ARRANGEMENTS Compensatory Arrangements
Exhibit 10.22
Compensatory Arrangements with Non-Management Directors
| Annual Cash Retainer | $65,000 | |
| Additional Annual Cash Retainer for Non-Executive Chairman of the Board | $150,000 | |
| Additional Annual Cash Retainer for Audit Committee Chair | $10,000 | |
| Additional Annual Cash Retainer for Other Committee Chairs | $7,500 | |
| Board and Committee Meeting Attendance Fees | No meeting attendance fees for up to five board and committee meetings attended. For meetings attended over that number, attendance fees of $750 per Board meeting (applicable to TECO Energy, Inc. and Tampa Electric Company Board meetings) and $1,500 for Committee meetings. | |
| Restricted Stock | Annual grant of shares having a value of $80,000, which vest in one installment on the first anniversary of the date of grant | |
| Director Matching Contributions Program | Contributions by non-management directors to eligible non-profit organizations are matched dollar-for-dollar by the Corporation, in an amount not to exceed $10,000 per calendar year for each such director. | |
TECO Energy, Inc. also pays for or reimburses directors for their meeting-related expenses.
