Company: TISI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000318833-25-000030
Chunk: 14

Company: TEAM INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 14
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 Stock represented at the Annual Meeting, in person or by proxy, and entitled to vote on Proposal Three.

For shareholders who attend the Annual Meeting, abstentions will have the effect of a vote AGAINST Proposal Three. Because Proposal Three is a “routine” matter, broker non-votes are not expected for Proposal Three.

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#### PROPOSAL FOUR—APPROVAL OF THE CHARTER AMENDMENT

#### General
We are asking shareholders to approve a proposed amendment to Article VII, Section 5 of our Amended and Restated Certificate of Incorporation relating to removal of directors for cause, as further described below. On February 12, 2025, the Board unanimously adopted resolutions approving the Charter Amendment, subject to shareholder approval, declaring the Charter Amendment advisable and recommending that shareholders approve the Charter Amendment. The text of the proposed form of Certificate of Amendment to our Amended and Restated Certificate of Incorporation (the “Charter Amendment”) is attached hereto as Appendix A . The following discussion is qualified by the text of the Charter Amendment.

The Charter Amendment would delete language currently in Article VII, Section 5 of our Amended and Restated Certificate of Incorporation that specifies when cause is deemed to exist in connection with the removal of directors. Such language currently states that “cause for removal shall be deemed to exist only if the director whose removal is proposed has been convicted of a felony by a court of competent jurisdiction or has been adjudged by a court of competent jurisdiction to be liable for gross negligence or misconduct in the performance of such director’s duty to the [Company] and such adjudication is no longer subject to direct appeal.”

If approved, the above language will be deleted and the amended text of Article VII, Section 5 of our Amended and Restated Certificate of Incorporation will read as follows:

5. Removal . Except as otherwise required by law, a director of the Corporation may be removed only for cause, as determined by the affirmative vote of the holders of at least a majority of the shares then entitled to vote in an election of directors, voting as a single class, and which vote may only be taken at a meeting of stockholders (and not by written consent), the notice of which meeting expressly states such purpose.

If shareholders approve this Proposal Four, then the Board will cause the Charter Amendment to be filed with the Delaware Secretary of State, which filing is expected to occur promptly following the Annual Meeting. No further action on the part of shareholders will be required to implement