Company: TISI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000318833-25-000030
Chunk: 51

Company: TEAM INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 51
---
 based on the achievement of the highest level of performance conditions. Actual amounts earned, if any, will be based on achievement of the applicable performance metrics over the measurement period.

(3) Represents RSUs and PSUs (as applicable) outstanding as of year-end 2024.

(4) The amounts in this column were calculated by multiplying the number of RSUs or PSUs (as applicable) held by our NEOs by $12.68, the closing price of our Common Stock on the New York Stock Exchange on December 31, 2024.

#### Additional Narrative Disclosure
Potential Payments Upon Termination or a Change in Control

Pursuant to Mr. Tucker’s Compensation Letters, Mr. Tucker is eligible to participate in the Executive Severance Policy (as defined below), which includes customary non-compete and release requirements.

Mr. Haight’s offer letter provides that he is eligible to participate in the Executive Severance Policy and entitled to receive continued salary for 12 months (except that for a period of one year from his start date Mr. Haight would be entitled to receive continued salary for 15 months under such circumstances). In April 2024, the Compensation Committee elected to align Mr. Haight’s severance benefits with Mr. Bouchard’s severance benefits and increased the severance benefits Mr. Haight would receive in the event of an (i) involuntary termination by the Company without cause and (ii) employee voluntary termination for good reason, as more fully described below. In case such involuntary termination without cause or voluntary termination with good reason occurs within 90 days prior or within 360 days after a change of control, Mr. Haight would be entitled to a single lump sum payment equal to 30 months of annual base salary plus an amount equal to the higher of the most recent paid bonus or the average bonus paid for the prior three years.

In connection with the Company’s financing, on February 9, 2022, the Board approved an amendment to the Corporate Executive Officer Compensation and Benefits Continuation Policy, as amended (the “Executive Severance Policy”), to provide that the Company’s financing would not constitute a change in control for purposes of the Executive Severance Policy and to amend the definition of change in control, consistent with the Equity Incentive Plan. As a condition of the Company’s financing, the participants in the Executive Severance Policy, which include the NEOs, executed a consent waiving any change in control entitlement in connection with the Company’s financing for purposes of the Executive Sever