TECO Energy, Inc. 2011 Executive Officer Compensation Arrangements

Contract Categories: Human Resources › Compensation Agreements
Summary

TECO Energy, Inc. has established compensation arrangements for its executive officers, including the Chief Executive Officer, Chief Financial Officer, and other named executives. The agreement outlines each executive's base salary and sets target percentages for annual incentive awards for 2011. These arrangements are part of the company's broader executive compensation program, which is detailed in related exhibits. The agreement ensures that executive compensation is structured with both fixed salary and performance-based incentives.

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EX-10.24 5 dex1024.htm COMPENSATORY ARRANGEMENTS WITH EXECUTIVE OFFICERS Compensatory Arrangements with Executive Officers

Exhibit 10.24

Compensatory Arrangements with Executive Officers

Compensation for executives at TECO Energy, Inc. (the “Corporation”) consists of several components. Included among these are base salary and an annual incentive award program.

Base salary information for the Chief Executive Officer, Chief Financial Officer and the other executive officers named in our 2011 proxy statement (together, the “named executive officers”) is set forth in the table below.

The Corporation’s annual incentive plan, last amended in February 2011, is attached as Exhibit 10.4 to the Corporation’s Annual Report on Form 10-K to which this document is an exhibit (the “Report”). The 2011 target award percentages for awards under the annual incentive plan for the named executive officers are set forth in the table below.

Compensatory arrangements relating to other aspects of the Corporation’s executive compensation program are included as exhibits to the Report.

Named Executive Officer Salary and Target Award Percentage Information for 2011

 

Name

  

Title

    Salary      Target
Award
%		  

Sherrill W. Hudson

   Executive Chairman of the Board    $ 325,000         75 % 

John B. Ramil

   President and Chief Executive Officer    $ 750,000         75 % 

Gordon L. Gillette

   President of Tampa Electric Company    $ 500,000         65 % 

Sandra W. Callahan

   Senior Vice President-Finance and Accounting and Chief Financial Officer    $ 410,000         55 % 

Charles A. Attal III

   Senior Vice President, General Counsel and Chief Legal Officer    $ 335,000         50 % 

Clinton E. Childress

   Senior Vice President, Corporate Services and Chief Human Resources Officer    $ 334,750         45 %