Summary of Retention Incentive Pool for Sal Litrico and Other Key TECO Transport Employees (May 4th, 2007)
Sal Litrico, President of TECO Transport Corporation (TECO Transport) and an executive officer of TECO Energy, Inc., is a party to a Retention and Contingent Separation Agreement and General Release dated as of March 29, 2007, with TECO Transport, a copy of which is filed as Exhibit 10.1.1 to the report to which this exhibit is attached (the Retention and Contingent Separation Agreement). Pursuant to the Retention and Contingent Separation Agreement, Mr. Litrico is eligible to participate in a sales price incentive pool approved by the Board of Directors of TECO Energy, Inc.
Teco Transport Corporation Retention and Contingent Separation Agreement and General Release (May 4th, 2007)
THIS RETENTION AND CONTINGENT SEPARATION AGREEMENT AND GENERAL RELEASE (the Agreement) is made and entered into this 29th day of March, 2007, by and between TECO TRANSPORT CORPORATION (the Company), the principal place of business which is located at 702 North Franklin Street, Tampa, Florida 33602 and SAL LITRICO (the Officer), whose address is P. O. Box 3358, Tampa, FL 33601.