Compensatory Arrangements with Non-Management Directors
EX-10.24 4 d442708dex1024.htm COMPENSATORY ARRANGEMENTS Compensatory Arrangements
Exhibit 10.24
Compensatory Arrangements with Non-Management Directors
| Annual Retainer | $50,000 | |
| Additional Annual Retainer for Audit Committee Chair | $10,000 | |
| Additional Annual Retainer for Other Committee Chairs | $7,500 | |
| Additional Annual Retainer for Chairman of the Board | $150,000 | |
| Board Meeting Attendance Fees | $750 per meeting (applicable to TECO Energy, Inc. and Tampa Electric Company Board meetings) | |
| Committee Meeting Attendance Fees | $1,500 per meeting | |
| Restricted Stock | Annual grant of 3,000 shares, which vest in one installment on the first anniversary of the date of grant | |
TECO Energy, Inc. also pays for or reimburses directors for their meeting-related expenses.
