Company: TISI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000318833-25-000030
Chunk: 15

Company: TEAM INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 15
---
 the Charter Amendment.

#### Reasons for the Charter Amendment
Following shareholder engagement on this issue, the Board believes that the Charter Amendment is advisable and in the Company’s and its shareholders’ best interests, as it would further align shareholder rights under our Amended and Restated Certificate of Incorporation with the governing documents of many other companies and confirm rights afforded to our shareholders are commensurate with those provided under the Delaware General Corporation Law (the “DGCL”), including Section 141(k) of the DGCL, which provides that shareholders of Delaware corporations may remove any director or the entire board of directors of such corporation for cause, which is not explicitly defined under the DGCL. The Charter Amendment, if effected, will confirm our shareholders’ rights align with those provided under relevant Delaware law, including Delaware case law interpreting Section 141(k).

Interest of Certain Persons in Matters to be Acted Upon

No officer or director has any substantial interest, direct or indirect, by security holdings or otherwise, in the Charter Amendment that is not shared by all of our other shareholders.

#### Effective Time
The effective time of the Charter Amendment, if approved by shareholders, will be the date and time set forth in the Charter Amendment that is filed with the Delaware Secretary of State, which is expected to be at the time, or shortly after, such filing is made with the Delaware Secretary of State.

#### Required Vote; Effect of Proposal
To be approved, this Proposal Four requires the affirmative vote of at least two-thirds of the shares of Common Stock outstanding and entitled to vote at the Annual Meeting, in person or by proxy. Abstentions and broker non-votes will have the same effect as votes “AGAINST” this Proposal Four. Proxies solicited by the Board will be voted “FOR” approval of this Proposal Four, unless otherwise specified. If shareholder approval for this Proposal Four is not obtained, then the Charter Amendment will not become effective and the changes described in this section will not be made.

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#### No Appraisal Rights
Under the DGCL, our Amended and Restated Certificate of Incorporation and our Bylaws, shareholders have no rights to exercise dissenters’ rights of appraisal with respect to the Charter Amendment.

| The Board of Directors unanimously recommends a vote “FOR” the approval of the Charter Amendment. |

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### CORPORATE GOVERNANCE

#### Corporate Governance Principles and Materials
We are committed to the enhancement of long-term shareholder value with the highest standards of