Company: TISI
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0000318833-25-000024
Chunk: 48

Company: TEAM INC
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 48
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 business in order to generate the intended corresponding creation of stockholder value, aware that our NEOs who are critical to the execution of our strategy had equity ownership levels that were low or insufficiently retentive.

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Set forth below is an outline of the terms of the Special Equity Awards granted to Messrs. Tucker, Haight and Bouchard on November 6, 2023:

| Term                                                                                 
 Vesting                                                                              |     | RSU                                                                                                                     
 RSUs vest ratably over three years following the date of grant, subject to continued service through each vesting date. |     | PSU                                                                                                                                                                                                                                                                                                                                   
 50% of earned PSUs vest and settle within 60 days of vesting, the remaining earned PSUs are payable on December 31, 2026 (subject to continued service through such date), or other later date if required to determine final trailing four quarter performance.                                                                      |
|:-------------------------------------------------------------------------------------|:----|:------------------------------------------------------------------------------------------------------------------------|:----|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Treatment Upon Voluntary Termination by Executive                                    |     | Unvested awards are forfeited.                                                                                          |     | All unsettled earned PSUs and all unearned PSUs are forfeited.                                                                                                                                                                                                                                                                        |
| Treatment Upon Death/Disability                                                      |     | Vesting of unvested awards is accelerated.                                                                              |     | Any earned PSUs immediately vest and are payable. Any unearned PSUs will continue to be eligible to be earned on a pro-rata basis (based on the time the executive was employed by the Company during the Performance Period) based on actual achieved performance payable upon determination of achievement of any Performance Goal. |
| Treatment Upon Termination by Company without Cause or by Executive with Good Reason |     | Vesting of unvested awards is accelerated.                                                                              |     | Any earned PSUs immediately vest and are payable. Any unearned PSUs will continue to be eligible to be earned on a pro-rata basis (based on the time the executive was employed by the Company during the Performance Period) based on actual achieved performance payable upon determination of achievement of any Performance Goal. |
| Treatment Upon a CIC                                                                 |     | Vesting of unvested awards is accelerated.                                                                              |     | Any earned PSUs immediately vest and are payable upon a CIC. If, at the time of a CIC, there are any unearned PSUs, the unearned PSUs associated with the single next tier target will