Document:

EX-10.2

 Exhibit 10.2 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is dated as of the 2nd day of September, 2016 by and among (a) AmeriTeam Services, LLC, a Tennessee limited liability company (the “Company”), (b) Team Health Holdings, Inc., a Delaware
corporation (“Holdings”), which hereby guarantees all of the payment obligations of the Company under this Agreement, and (c) Leif Murphy (“Employee”). 

WITNESSETH: 

WHEREAS, the Company desires to employ Employee pursuant to the terms of this Agreement, and Holdings desires to agree
to the terms of such employment and the other obligations of Holdings and the Company set forth herein, including the issuance of certain equity awards of Holdings to Employee; and 

WHEREAS, Employee desires to be so employed pursuant to the terms of this Agreement; and 

NOW, THEREFORE, based upon these premises, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties do hereby agree upon the terms and conditions of Employee’s employment with the Company that are set forth herein, 

1.       Effectiveness/Employment and Term. 

1.1     This Agreement constitutes a binding obligation of the parties as of the date hereof;
provided that notwithstanding any other provision of this Agreement, Employee shall commence employment on, and the operative provisions of this Agreement shall become effective as soon as practicable on a date to be mutually agreed upon by
the parties, but in no event any later than October 1, 2016 (such employment commencement date, the “Commencement Date”). 

1.2     The Company agrees to employ Employee and Employee agrees to be employed by the Company pursuant
to the terms of this Agreement as the President and Chief Executive Officer (“CEO”) of the Company and of Holdings, reporting to the Board of Directors of Holdings (the “Board”) to perform the duties
assigned to Employee by the Board. Employee shall remain employed pursuant to the terms of this Agreement until such employment is terminated pursuant to Section 6 of this Agreement. 

2.     Duties. Employee will perform all duties customarily incident to Employee’s position
and such duties that are properly assigned to from time to time by the Board. Employee shall devote Employee’s entire business time, attention and effort to the affairs of the Company and shall use Employee’s reasonable best efforts to
promote the interests and success of the Company, and shall cooperate fully with the Board in the advancement of the best interests of the Company; provided, however, that Employee may serve on corporate, civic or charitable boards or
committees, in each case, subject to prior Board approval, not to be unreasonably withheld, and Employee may deliver lectures, fulfill speaking engagements, or manage personal 

 
investments, provided that such activities do not individually or in the aggregate significantly interfere with, or are otherwise not inconsistent with, the performance of Employee’s duties
under this Agreement. Nothing herein shall prevent Employee from engaging in certain passive investments so long as the same do not require Employee’s management efforts, are passive, are not inconsistent with Employee’s duties hereunder
and are not prohibited by the restrictive covenants of Section 7. 
 3.
    Compensation. 
 3.1     Salary. Commencing on the Commencement
Date, Employee shall receive an annualized base salary of $1,000,000 per year, payable biweekly. On an annual basis, the Board may review Employee’s total compensation and may, in its sole discretion, increase Employee’s base salary from
time to time without the necessity of further action to amend this Agreement, but in no event shall the Board reduce the base salary. Employee’s base salary as in effect at any time is hereinafter referred to as the “Base
Salary”. 
 3.2     Bonus. For each fiscal year of the Company commencing with the
2017 fiscal year, Employee will be eligible to earn a bonus payment based on performance, determined in good faith in accordance with Exhibit A hereto (the “Bonus”). The Bonus, if any, shall be paid to Employee within
two and one-half (2.5) months after the end of the applicable fiscal year. Employee must be employed on the last day of the fiscal year in respect of which the Bonus is earned in order to have a vested right to receive such Bonus. 

3.3.     Taxes and Other Applicable Deductions. From all compensation paid to Employee, the
Company shall withhold all applicable sums for all state, federal and local taxes, and such other amounts as are necessary and applicable or agreed to by Employee. 

3.4     Equity Interest Incentives. Employee shall be eligible to receive annual equity incentive
awards as a participant in the Team Health Holdings, Inc. Amended and Restated 2009 Stock Incentive Plan (the “Plan”) commencing in 2017 with a targeted grant date value of not less than $3,100,000, subject to the terms of
the Plan and the approval and sole discretion of the Board and, if applicable, subject to compliance with any Executive Stock Ownership Guidelines as approved by the Board. The terms of any such annual equity incentive awards (which, for the
avoidance of doubt, shall not include the Sign-On Equity Awards described in Section 3.6 below) shall be determined by Holdings’ Compensation Committee at the time of grant. 

3.5     Sign-On Cash Award. On, or within ten (10) days following, the Commencement Date, the
Company will pay to Employee a special lump sum sign-on cash bonus award in the amount of $2,800,000 (the “Sign-On Bonus”), less applicable tax withholdings. If Employee’s employment is terminated due to either
Employee’s resignation other than for Good Reason (as defined in Section 6.4 of this Agreement), or by the Company for Cause (as defined in Section 6.2 of this Agreement) prior to the first (1st) anniversary of the Commencement Date, Employee will promptly repay $2,000,000 to the Company. 

3.6     Sign-On Equity Awards. Effective as of, or as soon as practicable following, the
Commencement Date (and, in any event, no later than five (5) days following the 

  
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Commencement Date), Holdings shall grant to Employee the following special one-time equity awards pursuant to the terms of the Plan: (i) ordinary time vesting stock options with a grant date
value of $4,000,000 (the “Sign-On Time Options”), (ii) performance vesting stock options with a grant date value of $4,000,000 (the “Sign-On Performance Options”) (iii) time vesting
restricted stock units with a grant date value of $3,000,000 (the “Sign-On RSUs”), and (iv) market share units with a grant date value of $5,000,000 (the “Sign-On MSUs,” and together with the
Sign-On Time Options, Sign-On Performance Options and the Sign-On RSUs, the “Sign-On Equity Awards”). The terms applicable to such Sign-On Equity Awards shall be as described below and as more fully set forth in the relevant
award agreements to be entered into between Employee and Holdings as of the Commencement Date. The grant date values of the Sign-On Equity Awards, as contemplated by this Section 3.6, shall be based on the methodologies previously
communicated by Holdings to Employee in writing prior to the date hereof. 
 (a)    
Sign-On Time Options. The Sign-On Time Options shall have an eight (8) year normal term (subject to early termination following Employee’s termination of employment) and shall vest in three equal annual installments on each of the
first three (3) anniversaries of the Commencement Date, subject to Employee’s continued employment with the Company. The per share exercise price of the Sign-On Time Options shall be equal to the “Fair Market Value”
(as defined in the Plan) of a share of Holdings common stock on the grant date. 

(b)     Sign-On Performance Options. The Sign-On Performance Options shall have an
eight (8) year normal term (subject to early termination following Employee’s termination of employment) and shall vest in three (3) equal installments upon the first dates, if any, occurring during the period commencing on the first
(1st) anniversary of the Commencement Date and ending on the fourth (4th) anniversary of the Commencement Date upon which the average
closing trading prices of a share of Holdings common stock over a consecutive 10-day trading period has equaled or exceeded 115%, 130% and 145%, respectively, of the Fair Market Value of a share of Holdings common stock on the grant date (such
dates, the “Performance Option Vesting Dates” and such stock price hurdles, the “Performance Option Vesting Hurdles”), subject to Employee’s continued employment with the Company through such
Performance Option Vesting Dates. The per share exercise price of the Sign-On Performance Options shall be equal to the “Fair Market Value” (as defined in the Plan) of a share of Holdings common stock on the grant date. Any portion of the
Sign-On Performance Options that have not vested on or prior to the fourth (4th) anniversary of the Commencement Date shall be forfeited. In the event of a “Change in
Control” as defined in the Plan, 100% of any then outstanding Sign-On Performance Options shall become immediately vested in the event that a third party investor who acquired a share of Holdings common stock on the Commencement Date
would have generated an annualized internal rate of return of ten percent (10%) or more on such share of common stock through the Change in Control date, based on the relative Fair Market Values of a share of Holdings common stock as of the
Commencement Date and as of such Change in Control date (and assuming reinvestment of any dividends or other distributions in additional shares of such common stock) (such achievement, the “10% IRR Hurdle”). Further, the
achievement of any previously unrealized Performance Option Vesting 

  
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Hurdles will be measured as of the date of such Change in Control, based upon the per share stock price of such Change in Control transaction (the “CIC Stock Price”), and
the Sign-On Performance Options for which the Performance Option Vesting Hurdles have been achieved based on the CIC Stock Price will vest (i) immediately in the event such Change in Control occurs on or after the first anniversary of the
Commencement Date or (ii) on the first (1st) anniversary of the Commencement Date, subject to Employee’s continued employment through such date, in the event such Change in Control
occurs prior to the first (1st) anniversary of the Commencement Date. Any portion of the Sign-On Performance Options for which the corresponding Performance Option Vesting Hurdles or the 10%
IRR Hurdle have not been achieved on or prior to the Change in Control date will be forfeited upon such Change in Control date. 

(c)     Sign-On RSUs. The Sign-On RSUs shall vest and settle in shares of Holdings
common stock in two (2) equal annual installments on each of the second (2nd) and third (3rd) anniversaries of the Commencement
Date, subject to Employee’s continued employment with the Company. The Sign-On RSUs shall include dividend equivalent rights with respect to the underlying shares, with such dividend amounts payable to Employee when and if the corresponding
underlying shares become vested and are delivered to Employee. 
 (d)     Sign on
MSUs. The Sign-On MSUs shall represent Employee’s right to receive a targeted number of shares of Holdings common stock multiplied by an applicable multiplier (the “MSU Multiplier”) which shall range between 75% of
the targeted number of shares (if the “MSU End Price” is equal to or less than 75% of the “MSU Start Price”, as such terms are defined below) and 200% of the targeted number of shares (if the MSU End Price is equal to or greater
than 200% of the MSU Start Price), with the MSU Multiplier being adjusted on a linear basis if the MSU End Price is between 75% and 200% of the MSU Start Price. The Sign-On MSUs shall vest and settle upon the third (3rd) anniversary of the Commencement Date (the “MSU Vesting Date”), subject to Employee’s continued employment with the Company through the MSU Vesting Date. The
Sign-On MSUs shall include dividend equivalent rights with respect to the underlying shares, with such dividend amounts payable to Employee when and if the corresponding underlying shares become vested and are delivered to Employee. Notwithstanding
the forgoing, the MSU Multiplier shall be capped, if necessary, such that the aggregate Fair Market Value of the shares of common stock earned on the MSU Vesting Date shall not exceed 400% of the aggregate Fair Market Value of the target number of
Sign-On MSUs calculated as of the grant date. Upon a Change in Control that occurs prior to the MSU Vesting Date, the MSU End Price and the corresponding MSU Multiplier shall be fixed by reference to the CIC Stock Price (the “CIC MSU
Multiplier”), and the Sign-On MSUs shall continue to vest on the MSU Vesting Date based upon such CIC MSU Multiplier, subject to Employee’s continued employment through such date. As used herein and except as other set forth above,
the “MSU Start Price” shall mean the Fair Market Value of a share of Holdings common stock on the grant date, and the “MSU End Price” shall mean the average closing trading price of Holdings common
stock over the twenty (20) trading days immediately preceding the MSU Vesting Date. 

  
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 (e)     Treatment of Sign-On Equity
Awards upon Certain Terminations of Employment. In the event of Employee’s (i) death, (ii) Disability or (iii) Qualifying Termination, in each case, prior to the regular vesting dates of the Sign-On Equity Awards as set forth
above, the vesting terms of the Sign-On Equity Awards shall be adjusted as set forth in the table below: 
  

							
	  	  	Death, Disability, or Qualifying
Termination prior to a Change of
Control	 	  	  	 Qualifying Termination on
or
following a Change of Control
  

	 	 	 	 
	 Sign-On Time
Options
	  	 A portion of the Sign-On Time Options shall become immediately vested such that, as
of the termination date, and taking into account any previously vested portion of the Sign-On Time Options, Employee has become vested in the greater of (i) forty-two percent (42%) of the Sign-On Time Options or (ii) a pro-rata portion of the
Sign-On Time Options calculated based on the portion (measured on a daily basis) of the three (3) year vesting period completed through the termination date.
	 	 	  	 100% of the previously unvested
Sign-On Time Options shall become fully vested.

	 	 	 	 
	 Sign-On
Performance
Options
	  	 If such termination date occurs prior to the first (1st) anniversary
of the Commencement Date, (i) 100% of any tranches of the Sign-On Performance Options for which the Performance Option Vesting Hurdles have been achieved prior to the termination date (any such tranches, the “Early Achievement
Tranches”) shall become vested and (ii) if the 10% IRR Hurdle has been met as of the termination date, 100% of all tranches of the Sign-On Performance Options shall become vested.
	 	 	  	 If such termination date occurs prior to the first (1st) anniversary of the Commencement Date, 100% of any Early Achievement Tranches of the Sign-On Performance Options shall become vested.

	 	 	 	 
	 Sign-On RSUs  
	  	 A portion of the Sign-On RSUs shall become immediately vested such that, as of the
termination date, and taking into account any previously vested portion of the Sign-On RSUs,
	 	 	  	 100% of the previously unvested
Sign-On RSUs shall become fully vested.

  
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	  	  	Death, Disability, or Qualifying
Termination prior to a Change of
Control	 	  	  	
Qualifying Termination on or
following a Change of Control

 

	 	  	 Employee has become vested in the greater of (i) forty-two percent (42%) of the Sign-On RSUs or (ii) a pro-rata portion of
the Sign-On RSUs calculated based on the portion (measured on a daily basis) of the three (3) year vesting period completed through the termination date.
	 	 	  	 
	 	 	 	 
	 Sign-On MSUs  
	  	 The MSU Vesting Date shall be deemed to have occurred on such termination date and
the portion of the Sign-On MSUs that otherwise would have vested pursuant to Section 3.6(d) shall be multiplied by a percentage equal to the greater of (i) forty-two percent (42%) and (ii) a pro-rata portion of the Sign-On MSUs calculated
based on the portion (measured on a daily basis) of the three (3) year vesting period completed through the termination date.
	 	 	  	 The MSU Vesting Date shall be
deemed to have occurred on such termination date.

 (f)     Treatment of Sign-On Equity Awards Not Assumed in Connection
with a Change in Control. In the event that any or all of the Sign-On Equity Awards that remain outstanding immediately prior to a Change in Control are not assumed by the surviving entity and/or replaced with new awards with substantially
equivalent value and terms immediately following such Change in Control, Holdings’ Compensation Committee will exercise its discretion, in accordance with Section 10(b) of the Plan, to provide that 100% of such Sign-On Equity Awards shall
become fully vested (other than any Sign-On Performance Options which failed to vest pursuant to Section 3.6(b) above) and shall be canceled in exchange for payment of consideration in an amount equal to the fair value of such Sign-On
Equity Awards as described under Section 10(b) of the Plan. 
 3.7     Open Market Purchases of
Holdings Common Stock. During the one (1) year period commencing on the Commencement Date, Employee shall make open market purchases of Holdings common stock (subject to applicable trading restrictions due to blackout periods) in amounts
that aggregate to at least $2.7 million worth of Holdings common stock (the “Mandatory Stock Investment”), calculated based on the respective Fair Market Values of such shares of common stock on the relevant common stock purchase
dates. Employee shall be required to hold an amount of Holdings common stock corresponding to the Mandatory Stock Investment for the duration of Employee’s employment with the Company. 

  
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 4.     Employee Benefits. In addition to
Employee’s Base Salary, Employee shall be entitled to all standard benefits normally provided by the Company to its similarly situated executive officers, which may be sponsored, developed or established by the Company from time to time in the
sole discretion of the Company. Such benefits shall also include, to the extent the Company owns or leases on a full-time basis an aircraft for business use, reasonable personal use of such aircraft; provided, that such use does not interfere
with bona-fide business of the Company. For purposes of this Section, reasonable use shall include up to forty (40) hours of flight time per calendar year (and on a pro-rata basis for the portion of 2016 for which the Employee is employed as
the Chief Executive Officer of the Company), with unused hours forfeited at the end of each applicable year. Employee shall not be entitled to any remuneration for unused hours hereunder upon termination of employment or otherwise. 

5.     Business Expenses. The Company will promptly reimburse Employee (following submission by
Employee to the Company of appropriate supporting documentation) for Employee’s usual and customary business expenses incurred in the course of Employee’s employment in accordance with the Company’s applicable policies and procedures,
including expenditure limits and substantiation requirements, in effect from time to time regarding reimbursement of expenses incurred by similar situated employees of the Company. 

6.     Termination. Notwithstanding any other provision of this Agreement, the provisions of this
Section 6 shall exclusively govern Employee’s rights to termination payments and benefits under this Agreement upon termination of employment with the Company. 

6.1     Mutual Agreement/Resignation without Good Reason/Death or Disability. Employee’s
employment shall terminate upon the occurrence of either of the following events: 
 (a)     The
Company and Employee shall mutually agree to termination in writing or Employee shall resign without Good Reason; provided that Employee shall be obligated to give the Company at least ninety (90) days advance written notice of any
resignation without Good Reason. Upon Employee’s termination of employment due to mutual agreement, or the resignation of employment by Employee without Good Reason (as defined herein), the Company will pay to Employee (i) the amount of
any unpaid Base Salary owed through the date of termination, (ii) any unreimbursed expenses pursuant to Section 5 for expenses incurred in the performance of Employee’s duties hereunder prior to termination, (iii) any
earned but unpaid Bonus in respect of a previously completed fiscal year, and (iv) any vested benefits the Employee may have earned but not yet received under any employee benefit plan of the Company through the date of termination, which
vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefits”). 

(b)     The death of Employee or termination by the Company due to Employee’s Disability.
“Disability” for purposes of this Agreement shall be the inability of Employee to materially perform Employee’s duties hereunder due to a physical or mental condition for a period of one hundred eighty (180) days
(which need not be consecutive) in any twelve (12) month period, as reasonably determined by the Board in good faith. Upon Employee’s termination of employment for death or Disability, the Company will pay to Employee the Accrued Benefits.

  
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 6.2     Termination for Cause. Employee’s
employment may be terminated by the Company for “Cause” upon the occurrence of any of the following events: 

(a)     Employee’s conviction of or the entering of a guilty plea or plea of no contest with respect
to a felony, the equivalent thereof, or any other crime involving fraud, dishonesty or moral turpitude which in the reasonable judgment of the Company is materially detrimental to the Company or materially affects Employee’s ability to perform
Employee’s essential duties pursuant to this Agreement; 
 (b)     Employee’s intentional
neglect of or material inattention to Employee’s duties (other than by reason of Employee’s physical or mental illness, incapacity or Disability); 

(c)     Employee commits an intentional and material act (i) to defraud the Company or its
affiliates, or (ii) of embezzlement or dishonesty against the Company or its affiliates; or 

(d)     Employee materially and willfully impedes or endeavors to influence, obstruct or impede or fails
to materially cooperate with an investigation authorized by the Company, a self-regulatory organization or a governmental department or agency, which is injurious to the Company; 

provided, however, that no event described under clause (b) above shall constitute “Cause” unless the Company
first notifies Employee in writing of such event and the event, if capable of being cured, remains uncured for more than thirty (30) days following the date of such notice. 

Upon the Company’s termination of Employee’s employment for Cause, the Company will pay to Employee the Accrued
Benefits (other than any previously unpaid Bonus amounts in respect of a preceding fiscal year which Bonus amounts, if any, shall be forfeited upon Employee’s termination for Cause), and Company will have no other liability to Employee
hereunder. Such termination shall be without prejudice to any other remedy to which the Company may be entitled, either by law, or in equity, or under the terms of this Agreement. 

6.3     Termination Without Cause. The Company may terminate the Employee’s employment
without Cause immediately at any time upon written notice to Employee. In the event that the Company terminates Employee’s employment without Cause, the Company will pay to Employee the Accrued Benefits. In addition, Employee shall be entitled
to the severance compensation and rights described in Section 6.5. 
 6.4    
Termination for Good Reason. Employee may voluntarily resign Employee’s employment for “Good Reason” upon the occurrence of any of the following: 

(a)     Employee’s removal as CEO of Holdings (or, following a Change of Control, the ultimate
parent of Holdings) or the assignment to Employee of duties that represent a substantial adverse alteration in the nature or status of Employee’s responsibilities, reporting relationship, duties or authority; 

  
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 (b)     any reduction in Employee’s annual Base Salary
or Bonus opportunities; 
 (c)     the relocation of the corporate headquarters of the Company or
Holdings to a location outside of the state of Tennessee; or 
 (e)     any material breach by the
Company of this Agreement or any other agreement with, or obligation to or for the benefit of, Employee, including but not limited to any stock option or stock incentive plan, in each case that is adverse to Employee. 

Notwithstanding the foregoing, no event shall constitute Good Reason unless and until Employee shall have notified the Company in writing
describing the event which constitutes Good Reason and then only if the Company shall fail to cure such event within thirty (30) days following its receipt of such written notice; provided, further, that “Good Reason”
shall cease to exist for an event on the sixtieth (60th) day following the later of its occurrence or Employee’s knowledge thereof, unless Employee has given the Company written notice
thereof prior to such date. 
 Upon Employee’s termination of employment for Good Reason, the Company will pay to
Employee the Accrued Benefits. In addition, Employee shall be entitled to the severance compensation and rights described in Section 6.5. 

6.5     Severance Compensation and Other Obligations. If Employee’s employment is terminated
by the Company without Cause or by Employee for Good Reason (such termination, a “Qualifying Termination”), then, subject to Employee’s continued compliance with the provisions of Sections 7 and 8 of this
Agreement, and provided Employee has signed a standard release of claims in favor of the Company and its Related Companies (as defined below), the Company shall provide to Employee the following: 

(a)     Employee will receive an amount equal to Employee’s Base Salary multiplied by the Severance
Multiple (as defined below), payable in bi-weekly installments over the Severance Period (as defined below), beginning on the date of termination. 

(b)     Employee will receive an amount equal to the average annual Bonuses paid (or earned but not yet
paid) to Employee pursuant to Section 3.2 of this Agreement for the two (2) most recently completed Performance Periods (as defined in Exhibit A hereto), multiplied by the Severance Multiple, payable in bi-weekly installments
over the Severance Period, beginning on the date of termination; provided, however, that in the event that a Qualifying Termination occurs prior to the completion of two (2) full fiscal year Performance Periods following the
Commencement Date, the amount determined under this Section 6.5(b) shall be equal to two (2) times Employee’s Annual Target Bonus (as defined in Exhibit A hereto). 

(c)     In order to reimburse Employee for Employee’s expenses associated with continued medical
benefits coverage, payment to Employee of an aggregate amount equal to twenty-four (24) months of premiums for Company group medical benefits available to Employee and Employee’s family that were in force for Employee and Employee’s
family immediately prior to termination. The amount of such premiums shall be equal to the 

  
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monthly premium set for those medical benefits pursuant to the continuation of medical coverage under section 4980B of the Internal Revenue Code of 1986, as amended (the
“Code”) and sections 601 through 608, inclusive, of ERISA (collectively, “COBRA”) at the time of Employee’s termination. These payments shall be made by Company to Employee regardless of the COBRA
continuation coverage actually in effect or the premiums actually paid for such coverage, and shall be payable in bi-weekly installments, beginning on the date of termination. Employee understands and acknowledges that the payments specified by this
Section 6.5(c) shall be made subject to all income, withholding and other employment taxes and Employee is solely responsible for all income, employment and other taxes that may be imposed thereon. 

(d)     Employee will receive any unpaid Bonus earned for all prior completed Performance Periods.
Additionally, Employee will receive a pro rata Bonus for the Performance Period in which Employee’s termination occurred, based on actual performance for the full Performance Period (and any exercise of negative discretion applied in a manner
no less favorable than as applied collectively, on average, to other senior executives) multiplied by a fraction, the numerator of which is the number of days Employee was employed during the Performance Period through the date of termination and
the denominator of which is 365, and paid to Employee when such bonuses are paid to other senior executives. 
 With respect
to this Section 6.5, the “Severance Multiple” shall be equal to two (2), and the “Severance Period” shall be equal to two (2) years. 

6.6     Qualifying Termination Following a Change in Control. If Employee’s employment is
terminated pursuant to a Qualifying Termination within two (2) years following a Change in Control (a “CIC Qualifying Termination”), then, subject to Employee’s continued compliance with the provisions of
Sections 7 and 8 of this Agreement, and provided Employee has signed a standard release of claims in favor of the Company and its Related Companies, the Company shall provide to Employee the severance payments and benefits
described in Section 6.5 of this Agreement; provided, however, that with respect to this Section 6.6, the Severance Multiple shall be equal to three (3), and the Severance Period shall be equal to three
(3) years. 
 7.       Restricted Activities. 

7.1     Preliminary Statement. Employee acknowledges that by virtue of Employee’s duties
under this Agreement, Employee shall become aware of various sensitive and confidential information. Employee further acknowledges that such information would give Employee an unfair competitive advantage should Employee compete with the Company.
Employee further acknowledges that the Company has certain subsidiaries and business divisions (collectively, the “Related Companies”) and that Employee may also become aware of certain confidential information relating to
the Related Companies which would give Employee an unfair competitive advantage if Employee should compete with the Related Companies. Accordingly, Employee agrees that Employee shall not, directly or indirectly, whether alone or as a partner,
officer, director, investor, employee, agent, member or shareholder of any other entity or corporation, without the prior written consent of the Company, violate any of the covenants (the “Covenants”) set forth in this
Section 7. For purposes of this Agreement, the term “business division” shall mean any person or entity which controls, is controlled by, or is under common control with the Company or a Related Company. 

  
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 7.2     Covenant Not to Divulge Confidential
Information. During the term of Employee’s employment with the Company, whether pursuant to this Agreement or otherwise, and after termination of Employee’s employment with the Company, Employee shall not (i) use any Confidential
Information of or concerning the Company or the Related Companies except for the Company’s benefit, or (ii) disclose or divulge to any third party any Confidential Information relating to the Company or the Related Companies, except as
otherwise required by law. “Confidential Information” shall mean confidential and proprietary information concerning the Company or any Related Company, whether written or oral, which Employee is or becomes aware of and which
has not been publicly disclosed which is of value to the Company or any Related Company in the course of conducting its business and the disclosure of which could result in a competitive or other disadvantage to the Company or a Related Company.
Notwithstanding the foregoing, Confidential Information does not include information (i) in the public domain prior to the time of disclosure, unless due to breach of the Employee’s duties under this Section 7.2 or
(ii) that Employee is required to disclose by applicable law, regulation or legal process. Nothing in this Section 7.2 shall preclude Employee’s right to communicate, cooperate or file a complaint with any U.S. federal, state
or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise make
disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each case such communications and disclosures are consistent with applicable law, and nothing
herein shall preclude Employee’s right to receive an award from a Governmental Entity for information provided under any whistleblower program. 

7.3.     Covenant Not to Compete or Interfere with Business Relationships. 

(a)     During the term of Employee’s employment with the Company, whether pursuant to this
Agreement or otherwise, and continuing for a period of two (2) years after termination of Employee’s employment with the Company (the “Restricted Period”), Employee shall not engage in any activity competitive with
or adverse to the Company’s or any Related Company’s physician practice management business. 

(b)     During the Restricted Period, Employee shall not solicit or hire (for Employee or on behalf of a
third party) any person who is then, or during the term of this Agreement was, an employee or contractor (including, without limitation, any Contract Physicians) of the Company or any Related Company. “Contract Physicians”
shall include those physicians with whom the Company or any Related Company then has a contract, or which have actively been recruited by the Company or any Related Company within one hundred eighty (180) days prior to termination of this
Agreement. 
 (c)     During the Restricted Period, Employee shall not induce or attempt to induce any
Covered Client to terminate such relationship, or engage in any other activity detrimental to any Related Company. For purposes of this Agreement, “Covered Client” means (i) any then current client of the Company or any
Related Company, (ii) any client with which the Company or any Related Company previously did business during the one hundred eighty (180) day period immediately prior to termination of Employee’s employment with the Company, or
(iii) any prospective client of the Company or any Related Company which the 

  
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Company or a Related Company was “actively seeking” to do business with within the one hundred eighty (180) day period immediately before termination of Employee’s employment
with the Company. For purposes of this Agreement, the Company or a Related Company will be deemed to have been “actively seeking” to do business with a prospective client if the Company or a Related Company did any of the
following: (A) met with the administration of such prospective client, (B) submitted a response to a Request for Proposal (“RFP”) or other formal proposal from such prospective client, or (C) made any other
written response to a request, solicitation, or initial discussion by or with such prospective client. 

(d)     During the Restricted Period, Employee shall not be employed by nor have any financial
relationship with any entity which directly or indirectly performs any competitive activity which Employee is individually prohibited from performing under the terms of this Agreement. 

(e)     Notwithstanding the restrictions specified in this Section 7, nothing herein shall be
construed to prohibit Employee from: (i) owning, solely as a passive investment, the securities of an entity which are publicly traded on a national or regional stock exchange or on the over-the-counter market or investing through a private
equity fund in securities of an entity that is not publicly traded, provided that Employee (A) is not a controlling person or, or a member of a group which controls, such entity, and (B) does not, directly or indirectly, own 5% or more of
any class of securities of such entity, or (ii) owning, solely as a passive investment, the securities of an entity which are not publicly traded provided that such entity is not engaged in a principal business of providing emergency room
services to hospitals. 
 Except as specifically provided herein, Employee is free to engage in any business activity not
otherwise prohibited by this Agreement in any geographic location. 
 7.4     Construction. For
purposes of this Section 7, the term “then” shall mean at the time of Employee’s engagement in the applicable conduct. The Covenants are essential elements of this Agreement, and but for Employee’s agreement to comply
with the Covenants, the Company would not have entered into this Agreement. The Covenant shall be construed as independent of any other provisions in this Agreement. Except as provided in Section 7.6 below, the existence of any claim or
cause of action of Employee against the Company or any Related Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement of any of the Covenants. The period of time during which Employee is
prohibited from engaging in the business practices described in the Covenants shall be extended by any length of time during which Employee is in breach of the Covenants. The Company and Employee agree that the Covenants are appropriate and
reasonable when considered in light of the nature and extent of the business conducted by the Company. However, if a court of competent jurisdiction determines that any portion of the Covenants, including without limitation, the specific time
period, scope or geographical area, is unreasonable or against public policy, then such Covenants shall be considered divisible as to time, scope, and geographical area and the maximum time period, scope or geographical area which is determined to
be reasonable and not against public policy shall be enforced. 
 7.5     Remedies. The parties
agree that if Employee breaches any Covenant, the Company or the Related Companies, as applicable, will suffer irreparable damages and 

  
 12 

 
Employee will receive a benefit for which Employee had not paid. Employee agrees that (i) damages at law will be difficult to measure and an insufficient remedy to the Company or a Related
Company in the event that Employee violates the terms of this Section 7, and (ii) the Company and the Related Companies shall be entitled, upon application to a court of competent jurisdiction, to obtain injunctive relief to enforce
the provisions of this Section 7 without the necessity of posting a bond or proving actual damages, which injunctive relief shall be in addition to any other rights or remedies available to the Company or the Related Companies. No remedy
shall be exclusive of any other, and neither application for nor obtaining injunctive or other relief shall preclude any other remedy available, including money damages. Employee acknowledges and agrees that the Related Companies are intended
beneficiaries of the Covenants and shall have the same rights and remedies as the Company to enforce the Covenants. 

7.6     Limitation on Enforcement. In the event the Company materially breaches this Agreement by
failing to meet a payment obligation hereunder (as defined below), and Employee is not in breach of this Agreement, then Employee shall no longer be bound by the Covenants. For purposes of this Agreement, “materially breaches this
Agreement by failing to meet a payment obligation hereunder” shall mean (i) the Company has failed to meet a payment obligation hereunder (and likewise failed to cure such nonpayment within thirty (30) days following notice
from Employee), and (ii) the Company did not have a good faith basis to not pay the disputed payment to Employee. If the Company has a good faith dispute regarding the amount owed to Employee, such dispute shall be submitted to arbitration
pursuant to Section 20 herein. If a good faith dispute does exist regarding any payment obligation, the Company shall only be deemed to have materially breached this Agreement by failing to meet a payment obligation hereunder if, after
the amount to be paid is determined by an arbitrator, the Company does not pay such amount awarded by the arbitrator within thirty (30) days after the arbitrator’s decision. 

8.     Inventions and Intellectual Property. Employee acknowledges that all developments,
including, without limitation, inventions, patentable or otherwise, discoveries, improvements, patents, trade secrets, designs, reports, computer software, flow charts and diagrams, procedures, data, documentation, ideas and writings and
applications thereof relating to the present or planned business of the Company or any Related Company that, alone or jointly with others, Employee may conceive, create, make, develop, reduce to practice or acquire during the term of this Agreement
(collectively, the “Developments”) are works made for hire and shall remain the sole and exclusive property of the Company, and Employee hereby assigns to the Company all of Employee’s right, title and interest in and to
all such Developments. All related items, including, but not limited to, memoranda, notes, lists, charts, drawings, records, files, computer software, programs, source and programming narratives and other documentation (and all copies thereof) made
or compiled by Employee, or made available to Employee, concerning the business or planned business of the Company or any Related Company shall be the property of the Company and shall be delivered to the Company promptly upon the termination of
this Agreement. Notwithstanding the foregoing, this Section 8 shall not apply to any Developments for which no equipment, supplies, facilities, intellectual property, trade secrets or Confidential Information of the Company or any Related
Company were used and that was developed entirely on Employee’s own time, unless the Development (i) relates to the Company’s or any Related Company’s current or contemplated business or activities, (ii) relates to the
Company’s or any Related Company’s actual or demonstrably anticipated research or development, or (iii) results 

  
 13 

 
from or relates to any work performed by Employee for the Company. The provisions of this Section 8 shall survive the termination of this Agreement. 

9.       Key Man Insurance. The Company shall have the option to purchase a key man
disability and/or life insurance policy regarding Employee which names the Company or its designee as beneficiary. Employee agrees to cooperate with the Company in obtaining such policies including, without limitation, submitting to a reasonably
requested medical examination. 
 10.     Death. If Employee dies before the date on which all
amounts owing to the Employee hereunder are paid in full, the Company and Holdings, as the case may be, shall pay to Employee’s estate (or such other recipient as designated from time to time by Employee in writing) such remaining amounts when
and as such amounts were otherwise payable to Employee. After receiving the payments provided under this Section 10, Employee and Employee’s estate shall have no further rights against the Company for compensation under this
Agreement. 
 11.     Assignment and Binding Effect. Employee may not sell, assign, transfer, or
otherwise convey any of Employee’s rights or delegate any of Employee’s duties under this Agreement without the prior written consent of the Company. Otherwise, this Agreement shall be binding upon and inure to the benefit of the parties
and their successors, assigns, heirs, representatives and beneficiaries. 
 12.     Entire Agreement
and Modification. This Agreement and the award agreements to be entered into by Employee and Holdings with respect to the Sign-On Equity Awards set forth the entire understanding of the parties with respect to the subject matter hereof,
supersedes all existing agreements between them concerning such subject matter, and may be modified only by a written instrument duly executed by both parties. 

13.     Waiver. The failure of a party to insist upon strict adherence to any term of this
Agreement on one or more occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. Any waiver must be in writing. Any waiver by any party
of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. 

14.     Governing Law and Venue and Limitations Period. Tennessee law shall govern the rights and
obligations under this Agreement, without giving effect to any conflict of laws principles that would require application of the laws of any other jurisdiction. In the event litigation is necessary, such legal action shall be commenced only in a
court, of competent jurisdiction in Knox County, Tennessee; litigation commenced other than in Knox County, Tennessee shall be subject to being dismissed, stayed or having venue transferred to Knox County at the option of the party not commencing
said litigation. The parties further waive all objections and defenses to litigation being conducted in Knox County, Tennessee, based upon venue or under the doctrine of forum non conveniens. Legal proceedings for breach of this Agreement
shall be commenced within twelve (12) months of any alleged breach or thereafter be barred. 

  
 14 

 15.     Notices. Any notice or other communication
required or permitted to be given hereunder shall be in writing and shall be mailed by certified mail, return receipt requested, or first class mail, to the addresses below, or hand-delivered to the party to whom it is to be given. Any party may
change such address by written notice to the other party. Any notice or other communication given by certified mail or first class mail shall be deemed given two (2) days after mailing thereof, except for a notice changing a party’s
address which shall be deemed given at the time of receipt thereof. 
  

					
		  	 If to the Company:
	  	 AmeriTeam Services, LLC

265 Brookview Centre Way
 Suite
400
 Knoxville, Tennessee 37919

Attention: General Counsel
  

		  	 With a copy to
Holdings at:
	  	  
 Team Health Holdings, Inc.

265 Brookview Centre Way
 Suite
400
 Knoxville, Tennessee 37919

Attention: Human Resources Vice President
  

		  	 If to Employee:
	  	 Address on File With Human Resources

 Notwithstanding anything herein to the contrary, if actual written notice is received, regardless, of the
means of transmittal, such notice shall be deemed to be acceptable and effective as proper notice under this Section 15. 

16.     Severability. Except as otherwise provided in Section 7.4, in the event that
any provision in this Agreement shall be found by a court, arbitrator, referee or governmental authority of competent jurisdiction to be invalid, illegal or unenforceable, such provision shall be construed and enforced as if it had been narrowly
drawn so as not to be invalid, illegal or unenforceable, and the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be effected or impaired thereby, and if any provision is inapplicable to any
person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances. 

17.     Headings. The headings in this Agreement are solely for convenience of reference and shall
be given no effect in the construction or interpretation of this Agreement. 
 18.    
Confidentiality. Subject to any requirements to publicly disclose this Agreement, during the term of this Agreement and thereafter, Employee shall not disclose any terms or information pertaining to any provision of this Agreement to any
person or entity without the prior written consent of the Company, with the exception of Employee’s tax, legal or accounting advisors for legitimate business purposes of Employee, or as otherwise required by law. 

  
 15 

 19.     Enforcement Costs. If any legal action or
other proceeding is brought, for the enforcement of any of the terms or conditions of this Agreement, or because of an alleged dispute, breach, or default, in connection with any of the provisions of this Agreement the prevailing party in such
action shall be entitled to recover from the non-prevailing party the costs it incurred in such action including, but not limited to, reasonable attorneys’ fees (including costs and fees incurred on appeal), in addition to any other relief to
which such party may be entitled. 
 20.     Survival. Termination of this Agreement shall not
terminate any continuing obligation(s) of the parties under this Agreement, and the parties hereby agree that such obligation(s) shall survive termination, unless the context of the obligation(s) requires otherwise. 

21.     Name or Ownership Change. This Agreement shall continue in full force and effect in the
event of a change in the name or ownership of the Company. 
 22.     Compliance With Other
Agreements. Employee represents and warrants that the execution of this Agreement and Employee’s performance of Employee’s obligations hereunder will not conflict with, or result in a breach of any provision of, or result in the
termination of, or constitute a default under, any agreement to which Employee is a party or by which Employee is or may be bound, including, without limitation, a breach of any restrictive covenants contained in any agreements between Employee and
any of Employee’s current or former employers. 
 23.     No Rule of Construction. This
Agreement shall be construed to be neither against nor in favor of any party hereto based upon any party’s role in drafting this Agreement, but rather in accordance with the fair meaning hereof. 

24.     Indemnification. 

24.1     General. The Company agrees that if Employee is made a party or is threatened to be made
a party to any claim, action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that Employee is or was a trustee, director, officer, member, shareholder,
partner, employee or agent of the Company or any of its Related Companies or is or was serving at the request of the Company or any of its business divisions as a trustee, director, officer, member, shareholder, partner, employee or agent of another
corporation or a partnership, joint venture, limited liability company, trust or other entity, including without limitation, service with respect to employee benefit plans, whether or not the basis for such Proceeding is alleged action in an
official capacity while serving as a trustee, director, officer, member, shareholder, partner, employee, agent or otherwise, Employee shall be indemnified and held harmless by the Company to the fullest extent authorized by law, as the same exists
or may hereafter be amended, against all Expenses (as defined herein) incurred or suffered by Employee in connection therewith, and such indemnification shall continue as to Employee even if he has ceased to be a trustee, director, officer, member,
shareholder, partner or agent of, or is no longer employed by, the Company or any of its Related Companies and shall inure to the benefit of Employee’s heirs, executors and administrators; provided, however, that except with
respect to proceedings to enforce rights to indemnification under this Agreement, the Company shall indemnify Employee in connection with a Proceeding (or part thereof) initiated by Employee only if such Proceeding (or part thereof) was authorized
by the Board of Directors of the Company. It shall be a defense to any such action (other than an action brought to enforce 

  
 16 

 
a claim for the advance of Expenses where the undertaking required pursuant to this Agreement, if any, has been tendered to the Company) that the claimant has not met the standards of conduct
which make it permissible under the Tennessee General Corporation Act for the Company to indemnify the claimant for the amount claimed but the burden of such defense shall be on the Company. 

24.2     Expenses. As used in this Section 24, “Expenses”
shall include, without limitation, damages, losses, judgments, liabilities, fines, penalties, excise taxes, settlements, costs, attorneys’ fees, accountants’ fees, disbursements and costs of attachment or similar bonds, costs of
investigations, and any expenses of establishing a right to indemnification under this Agreement. 

24.3     Enforcement. If a claim or request under this Section 24 is not paid by the
Company, or on its behalf, within thirty (30) days after a written claim or request has been received by the Company, Employee may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim or request and,
if successful in whole or in part, Employee shall also be entitled to be paid the costs and expenses, including, without limitation, attorneys’ fees, or prosecuting such suit, together with prejudgment interest. 

24.4     Partial Indemnification. If Employee is entitled to indemnification by the Company for
some or a portion of any Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Employee for the portion of such Expenses to which Employee is entitled. 

24.5     Advances of Expenses. Expenses incurred by Employee in connection with any Proceeding
shall be paid by the Company in advance upon Employee’s request that the Company pay such Expenses, but only in the event that Employee shall have delivered in writing to the Company (i) an undertaking to reimburse the Company for Expenses
with respect to which Employee is not entitled to indemnification, and (ii) a statement of Employee’s good faith belief that the standard of conduct necessary for indemnification by the Company has been met. 

24.6     Notice of Claim. Employee shall give the Company notice of any claim made against
Employee for which indemnification will or could be sought under this Agreement. In addition, Employee shall give the Company such information and cooperation as it may reasonably require and as shall be within Employee’s power and at such
times and places as are convenient for Employee. 
 24.7     Defense of Claim. With respect to
any Proceeding (except any criminal or regulatory Proceeding) as to which Employee notifies the Company of the commencement thereof: (i) the Company will be entitled to participate in such Proceeding at its own expense; (ii) except as
otherwise provided below, to the extent it so desires, the Company will be entitled to assume the defense thereof, with counsel satisfactory to Employee, which in the Company’s discretion may be regular counsel to the Company and may be counsel
to other officers and directors of the Company or any subsidiary thereof (Employee also shall have the right to employ Employee’s own counsel in such action, suit or Proceeding if Employee reasonably concludes that failure to do so would
involve a conflict of interest between the Company and Employee, and under such circumstances the fees and expenses of such counsel shall be at the 

  
 17 

 
expense of the Company.); and (iii) the Company shall not be liable to indemnify Employee under this Agreement for any amounts paid in settlement of any action or claim effected without its
written consent, such consent not to be unreasonably withheld. The Company shall not settle any action or claim in any manner that would impose any penalty that would not be paid directly or indirectly by the Company or result in any limitation on,
or reporting requirements to third parties by, Employee without Employee’s prior written consent. Neither the Company nor Employee will unreasonably withhold or delay their respective consent to any proposed settlement. A party from which
consent to settle is requested shall respond to such request no later than five (5) days, unless for good cause, but in no event less than thirty (30) days. A party’s response shall either consent or set forth in reasonable detail the
basis on which consent is withheld. A party failing to timely respond as provided herein shall be deemed to have consented to such proposed settlement. 

24.8     Non-Exclusivity. The right to indemnification and the payment of expenses incurred in
defending a Proceeding in advance of its final disposition conferred in this Section 24 shall not be exclusive of any right that Employee may have or hereafter may acquire under any statute or certificate of incorporation or bylaws of
the Company or any subsidiary thereof, agreement, vote of shareholders or disinterested directors or trustees or otherwise. 

25.     Compliance With IRC 409A. 

25.1     Application of Section 409A. To the extent of any compliance issues or ambiguous
terms, this Agreement shall be construed in such a manner so as to comply with the requirements of Section 409A of the Code, and the rules set forth in this Section 25 shall apply with respect to any payments that may be subject to
Section 409A of the Code notwithstanding any other provision of this Agreement. 
 25.2    
Timing of Payments. Notwithstanding the applicable provisions of this Agreement regarding the timing of payments, any payment due hereunder which is contingent upon receipt of the Release described in Section 6.5 shall be made, if
at all, in accordance with this Section 25.2, and only if Employee has delivered to the Company a properly executed Release for which all legally mandated revocation rights of the Employee have expired prior to the sixtieth (60th) day following the date of termination. Any such payment shall be made after receipt of such executed and irrevocable Release within such sixty (60) period, unless otherwise scheduled to
be made after such period pursuant to the terms of this Agreement; provided, however, if the sixty (60) day period for such payments begins in one taxable year of Employee and ends in a second taxable year of Employee, any
payments otherwise payable within such sixty (60) day period will be made in the second taxable year. Any payments due after such sixty (60) period shall be payable in accordance with their regularly scheduled payment date. All payments
hereunder are subject to any required delay pursuant to Section 25.3, if applicable. If the Company does not receive a properly executed Release, for which all rights of revocation have lapsed, prior to the time specified in this
Section 25.2, Employee shall forfeit all rights to any payments under Section 6.5 or 6.6 of this Agreement, which are contingent on such Release. 

25.3     “Specified Employee” Delay in Payment. Notwithstanding anything herein to the
contrary, (i) if at the time of Employee’s termination of employment with the Company Employee is a “specified employee” as defined in Section 409A of the Code and the

  
 18 

 
deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional
tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the
date that is six months following Employee’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code) and (ii) if any other payments of money or other benefits due to Employee
hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under Section 409A
of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or additional tax. The Company shall consult with Employee in good
faith regarding the implementation of the provisions of this Section 25; provided that neither the Company nor any of its employees or representatives shall have any liability to Employee with respect to thereto. For purposes of
Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments and references herein to Employee’s termination of employment shall refer to
Employee’s “separation from service” within the meaning of the default provisions of Treas. Reg. § 1.409A-1(h). 

25.4     Expenses; In-Kind Benefits. To the extent that reimbursements or other in-kind benefits
under this Agreement constitute nonqualified deferred compensation, (i) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred
by Employee, (ii) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (iii) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any
taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

26.     Effect of Termination. Any termination of the Employee’s employment with the Company
shall automatically be deemed to be a simultaneous resignation of all other positions and titles the Employee holds with the Company, Holdings or any of their business divisions, whether as an officer, director, fiduciary, administrator or
otherwise. 
 27.     Section 280G. In the event that part or all of the consideration,
compensation or benefits to be paid to Employee under this Agreement together with the aggregate present value of payments, consideration, compensation and benefits under all other plans, arrangements and agreements applicable to Employee
(collectively, the “Total Payments”) constitute “excess parachute payments” under Section 280G(b) of the Code subject to an excise tax under Section 4999 of the Code, then the Total Payments to be made to
Employee shall be reduced, but only to the extent Employee would retain a greater amount on an after-tax basis than he would retain absent such reduction, such that the value of the Total Payments that Employee is entitled to receive shall be $1
less than the maximum amount which Employee may receive without becoming subject to the excise tax or resulting in a disallowance of a deduction of the payment of such amount by the Company under Section 280G. For purposes of this
Section 27, the determination of whichever amount is greater on an after-tax basis shall be (i) based on maximum federal, state and local income and employment tax rates and the tax that would be

  
 19 

 
imposed on Employee pursuant to Section 4999, and (ii) made at Company expense by independent accountants selected by the Company. If the determination made pursuant to this
Section 27 results in a reduction of the payments that would otherwise be paid to Employee, such reduction in payments due under this Agreement shall be first applied to reduce any cash severance payments that Employee would otherwise be
entitled to receive hereunder and shall thereafter be applied to reduce other payments and benefits in a manner that would not result in subjecting Employee to additional taxation under Section 409A of the Code. 

28.       Legal Fee Reimbursement. Promptly following the Commencement Date, the Company
shall reimburse Employee for his legal fees incurred in connection with the review and negotiation of this Agreement up to a maximum of $20,000. 

[SIGNATURES ON NEXT PAGE] 

  
 20 

 IN WITNESS WHEREOF, the parties have executed this Employment Agreement as
of the date first written above. 
  

			
	 COMPANY:
  

AMERITEAM SERVICES, LLC
  

		
	 By:
	 	 /s/ Steven E. Clifton

	  
 Its: EVP, General Counsel and Corporate

      Secretary

  

			
	 HOLDINGS:
  

TEAM HEALTH HOLDINGS, INC.
  

		
	 By:
	 	 /s/ Steven E. Clifton

	  
 Its: EVP, General Counsel and Corporate

       Secretary

  

	
	 EMPLOYEE:
  

	
	 /s/ Leif Murphy

	 Leif Murphy

 Signature Page to Employment Agreement 

 Exhibit A 

Management Incentive Plan 

During each fiscal year of the Company commencing with the 2017 fiscal year (each a “Performance
Period”), Employee shall be entitled to participate in an Annual Management Incentive Plan (the “Bonus Plan”) determined in good faith from time to time by the Board or designated Compensation Committee of the
Board (the “Committee”), referred hereinafter as the “Administrator” of the Bonus Plan. 

For purposes of the Bonus Plan, commencing with Performance Periods in 2017 and beyond, Employee’s target Bonus
opportunity (the “Annual Target Bonus”) for each Performance Period will be equal to one hundred percent (100%) of Employee’s Base Salary at the time the performance goals for the relevant Performance
Period are set. Unless otherwise determined by the Administrator, or except as specifically provided in Section 6.5 or 6.6 (“Severance Compensation”) of this Employment Agreement, Employee shall not be
entitled to the payment of any bonuses under the Bonus Plan with respect to a Performance Period in the event of the termination of Employee’s employment with the Company for any reason prior to the last day of the applicable Performance
Period. Bonus payments, if earned, shall be paid to Employee no later than two and one-half (2.5) months following the Performance Period to which such bonus relates.EX-10.1

 Exhibit 10.1 

SECUREWORKS CORP. 

AMENDED AND RESTATED 

SEVERANCE PAY PLAN 
 FOR
EXECUTIVE EMPLOYEES 
 Effective September 1, 2016 

 SECUREWORKS CORP. 

AMENDED AND RESTATED 

SEVERANCE PAY PLAN 
 FOR
EXECUTIVE EMPLOYEES 
 Effective September 1, 2016 

BACKGROUND AND SCOPE 

Dell Inc. (“Dell”) previously adopted the Dell Inc. Severance Pay Plan for Executive Employees, amended and restated
effective July 14, 2010 (the “Dell Plan”), to provide severance benefits under the terms and conditions specified in the Dell Plan. Prior to the effective date of the Initial Plan (as defined below), certain employees of the
Company were eligible to participate in the Dell Plan. In connection with the Company’s initial public offering (“IPO”), the Company determined it advisable to adopt the SecureWorks Corp. Severance Pay Plan for Executive
Employees (the “Initial Plan”) for periods on and after April 18, 2016, the effective date of the Initial Plan. Following the Company’s IPO, the Compensation Committee of the Board has conducted a review of the Initial
Plan and wishes to amend and restate the Initial Plan as provided herein. 
 The Company intends the Plan to qualify as an “employee
welfare benefit plan” within the meaning of Section 3(1) of ERISA. The Plan shall, at all times, be interpreted and administered in accordance with ERISA and any other pertinent provisions of federal law. Except as specified in the Plan,
no employee of the Company or any other person shall have any right to severance benefits under the Plan or otherwise as a result of their performance of services for the Company or any of its related or affiliated entities. These Severance Benefits
may be modified or eliminated at any time for any reason. 
 ARTICLE I 

PURPOSE 
 The Plan provides
Eligible Executives with severance benefits designed to mitigate the effects of unemployment in the event that their employment is terminated by the Company as a result of a Qualifying Termination. 

ARTICLE II 
 DEFINITIONS

 Wherever used herein, the following terms have the following meanings unless the context clearly requires a different meaning: 

2.1 “Administrator” means the Company’s Compensation Committee, as may be appointed from time to time by the Board. 

 2.2 “Base Salary” means compensation equal to: 

(i) the annual base salary reported in the Company’s human resources database and as in effect on the last day on which
the Eligible Executive was actively performing services for the Company prior to his or her Separation Date (not including shift differentials, commissions, bonuses, incentive payments, benefits, perks, or overtime compensation); divided by 

(ii) 12, for computations of monthly Base Salary, or 52, for computations of weekly Base Salary. 

2.3 “Beneficiary” means the first surviving person of the following: (i) surviving spouse, (ii) the lineal
descendants per stirpes, (iii) parents in equal shares, (iv) brothers and sisters in equal shares, or (v) executor or administrator of his or her estate. 

2.4 “Board” means the Board of Directors of SecureWorks Corp. 

2.5 “Casual Employee” means an employee hired to supplement the work force during temporary periods or on an intermittent
basis, usually due to unusual or emergency workload. 
 2.6 “COBRA” means the Consolidated Omnibus Budget Reconciliation Act
of 1985, as amended from time to time. 
 2.7 “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 2.8 “Company” means SecureWorks Corp., any successor entity that adopts the Plan, or any subsidiary or affiliate of the
Company which is designated by the Administrator as having adopted the Plan. 
 2.9 “Comparable Job” means a job with the
Company where (i) the Base Salary to be paid by the Company is not materially reduced from the Base Salary previously paid by the Company to such executive; (ii) the grade level offered is not less than the grade level the executive held
immediately prior to the date the executive was offered the job; and (iii) the executive’s principal place of work is not changed on or before the first date of employment in the new job to a location that is a material distance from the
executive’s principal place of work immediately prior to the date the executive was offered the job, without the prior consent of the executive. For purposes of the preceding sentence, a distance of less than fifty (50) miles shall be
treated as immaterial. 
 2.10 “Effective Date” means September 1, 2016, the effective date of this amendment and
restatement of the Plan. 
 2.11 “Eligible Executive” means an individual who is classified as an Executive Employee and:

  
 Page 2 of
14 

 (i) who is designated by the Administrator, in its sole and absolute discretion,
as having experienced a Qualifying Termination; 
 (ii) who is notified in writing by the Administrator or its duly
authorized representative that his or her employment with the Company will be terminated as part of a Qualifying Termination; 

(iii) who is employed by the Company to perform services for the Company in a capacity of a regular employee of the Company;
and 
 (iv) whose employment with the Company was in fact terminated solely as a result of such Qualifying Termination. 

The term “Eligible Executive” shall not include: (i) an Independent Contractor; (ii) a Casual Employee; or (iii) a Temporary Employee.

 2.12 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

2.13 “Executive Employee” means an employee of the Company who is designated as having a status of Executive Director (grade
level EF/IK) or Vice President (grade level EG/IL or higher). 
 2.14 “Exempt Separation Pay” means payments that do not
exceed the Safe Harbor Amount and may not be paid later than the Safe Harbor Deadline. 
 2.15 “Independent Contractor”
means a person the Company engaged to perform services with the intention that those services would be performed in a capacity other than that of a common law employee, regardless of whether or not the actual facts and circumstances under which such
person actually renders services to the Company could be construed to establish that the person was or could be considered for any purpose to be a common law employee. 

2.16 “Plan” means this SecureWorks Corp. Amended and Restated Severance Pay Plan for Executive Employees, as set forth herein
and as may be amended from time to time. 
 2.17 “Qualifying Termination” means the termination of employment of a Severance
Benefit Employee due to Workforce Reduction. 
 2.18 “Safe Harbor Amount” means two (2) times the lesser of
(i) the sum of the Eligible Executive’s annualized compensation based on the taxable year immediately preceding the year in which his or her Separation Date occurs or (ii) the maximum amount that may be taken into account under a
qualified plan pursuant to Code Section 401(a)(17) for the year in which the Eligible Executive’s Separation Date occurs. 
 2.19
“Safe Harbor Deadline” means the last day of the second calendar year following the calendar year in which the Eligible Executive’s Separation Date occurs. 

  
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 2.20 “Separation Agreement and Release” means the agreement that an Eligible
Executive must execute prior to receiving any benefits under the Plan. The Administrator will provide a copy of the Separation Agreement and Release to the Eligible Executive when he or she is designated as a Severance Benefit Employee under the
Plan. 
 2.21 “Separation Date” means the date designated by the Administrator on which the Eligible Executive’s
employment is terminated. 
 2.22 “Severance Benefit Employee” means an Eligible Executive who: 

(i) is designated by the Administrator, in its sole and absolute discretion, as a Severance Benefit Employee; 

(ii) continued to perform all of his or her job responsibilities, in a manner acceptable to the Company, through his or her
Separation Date; 
 (iii) did not, at any time subsequent to the Company’s decision to terminate the employee receive an
offer for continued employment in a Comparable Job; 
 (iv) did not, at any time subsequent to the Company’s decision to
terminate the employee, receive an offer for employment in a Similar Job, which was in any way arranged or facilitated by the Company; 

(v) prior to the date of the Company’s notification of the termination of employment, did not voluntarily terminate
employment or notify the Company of his or her intention or election to terminate employment at some future date by resignation, failure to appear for work, retirement, or otherwise; 

(vi) did not make any statements or engage in any actions that directly or indirectly defamed, disparaged, or detracted from
the Company’s reputation; damage or destroy any of the Company’s property; or otherwise injure or damage the Company; and 

(vii) maintained the confidentiality of any and all confidential or proprietary information of the Company at all times during
his employment with the Company. 
 2.23 “Severance Benefits” mean the benefits, if any, provided under ARTICLE III to a
Severance Benefit Employee. 
 2.24 “Short-Term Deferral” shall have the meaning set forth in Treasury Regulation section
1.409A-1(b)(4) and the guidance related thereto. 
 2.25 “Similar Job” means a job with a new employer where (i) the
compensation offered by the new employer to the executive is not materially less than the Base Salary previously paid by the Company to the executive; (ii) the general nature of the executive’s anticipated duties for the new employer are
similar to the general nature of the duties the executive performed for the 

  
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Company; and (iii) the executive’s principal place of work is not changed by the new employer on or before the first day of employment with the new employer to any location that is a
material distance from the executive’s principal place of work on the date prior to the date the executive was offered the job, without the prior consent of the executive. For purposes of the preceding sentence, a distance of less than fifty
(50) miles shall be treated as immaterial. 
 2.26 “Temporary Employee” means a person that the Company contracted with
through a temporary service, agency, employee leasing company, staffing company, or a person individually who supplements the work force as a temporary employee, or is otherwise hired to perform services for the Company other than as an employee.

 2.27 “Workforce Reduction” means the reduction of the Company’s workforce as part of a designated cost reduction
program. 
 ARTICLE III 

SEVERANCE BENEFITS 
 3.1
Cash Severance Benefits. A Severance Benefit Employee shall receive a cash Severance Benefit equal to the greater of (i) the amount listed on the applicable Exhibit A to this Plan, or (ii) if applicable, the cash
severance benefit amount listed in any separate written agreement between the Eligible Executive and the Company. 
 3.2 Form of
Payment. Unless otherwise provided in a Separation Agreement and Release, the cash Severance Benefit shall be paid in a single lump sum payment within thirty (30) business days after the Company receives the executed Separation Agreement
and Release; provided, however, that all such lump sum amounts shall be paid not later than March 15th of the calendar year immediately following the calendar year during which an
Eligible Executive’s Separation Date occurs. In the event that an Eligible Executive’s Separation Agreement and Release provides that payments shall be made in installments, such payments shall be structured so as to be a Short-Term
Deferral or Exempt Separation Pay. Payments under the Plan shall be delivered in the form of a check or, at the Company’s discretion, through any other payment delivery method used to make payroll payments to an Eligible Executive. 

3.3 Additional Severance Benefits. A Severance Benefit Employee shall receive such other Severance Benefits as are listed in
Exhibit A. 
 3.4 Benefits Are Not Salary. Any Severance Benefits paid under the Plan are not considered as salary for
any employee benefit plan purposes. The number of weeks of Severance Benefits provided to a Severance Benefit Employee shall not be considered in calculating his or her entitlement, if any, to vacation, sick leave, bonus, incentive salary,
retirement, or other benefits except as is specifically provided in the Company’s other employee benefit plans. 
 3.5
Re-employment. Any Eligible Executive who received a Severance Benefit under the Plan will not have any right to be re-employed by the Company. If an Eligible Executive is re-employed by the Company within twelve (12) months from the
date of his or her Separation Date, 

  
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such Eligible Executive may, as a condition of reemployment, be required to repay to the Company a portion of his or her Severance Benefits. 

ARTICLE IV 

DEDUCTIONS & FORFEITURES 

4.1 Deductions. To the extent permissible under federal or state law, the following items and amounts will be deducted from the amount
of Severance Benefits otherwise payable to an Eligible Executive under the Plan: 
 (i) Any salary or other payments that the
Eligible Executive receives (or may be entitled to receive) on termination of employment pursuant to any rights or entitlements that the Eligible Executive possesses or asserts pursuant to a written or oral employment agreement with the Company or
any successor thereto, regardless of whether the term of such agreement is expired or unexpired as of the Eligible Executive’s Separation Date; 

(ii) Any amounts that an Eligible Executive owes to the Company; 

(iii) Any severance pay or other wage replacement benefits payable or previously paid to the Eligible Executive or his
beneficiary from this Plan or any other plan or program maintained by the Company or any of its affiliates (other than any benefits payable from any pension, profit sharing, or stock bonus plan); 

(iv) Any amount of garnished earnings which would have been withheld from the Eligible Executive’s pay, if the Company has
been garnishing the Eligible Executive’s earnings pursuant to an order of garnishment, child support, or tax lien; and 

(v) The Company shall have the authority to withhold or to cause to have withheld applicable taxes from any payments under or
in accordance with the Plan to the extent required by law. 
 4.2 Forfeitures. An Eligible Executive shall forfeit any and all rights
to Severance Benefits under the Plan, and shall be obligated to repay any such benefits previously paid under the Plan, if the Administrator, in its sole discretion, determines that the Eligible Executive: 

(i) does not timely submit, and the Administrator does not actually receive, a valid and fully enforceable Separation Agreement
and Release from the Eligible Executive; 
 (ii) fails or has failed to fulfill any requirement of the Plan or otherwise does
not satisfy any of the terms and conditions of either the Plan or the Separation Agreement and Release; 
 (iii) prior to his
or her Separation Date or thereafter makes any statements or engages in any actions that directly or indirectly defame, disparage, or detract from the Company’ s reputation, damage or destroy any of Company’s property, otherwise injure or

  
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damage the Company, or discloses any confidential or proprietary information regarding the Company; or 

(iv) subsequently revokes or otherwise takes action to set aside, avoid, or violate the Separation Agreement and Release or the
Plan’s terms. 
 By accepting any benefits under the Plan’s terms, an Eligible Executive shall be deemed to have agreed to adhere to all terms of
the Plan. The Eligible Executive also shall be deemed to agree that the Eligible Executive will repay any benefits that the Administrator determines he or she has received from the Plan in excess of the amount provided under the Plan. Additionally,
the Eligible Executive must repay all Severance Benefits that the Eligible Executive is paid or receives if the Eligible Executive asserts that he or she is or may be entitled to receive compensation or other payments on termination of employment
pursuant to any rights or entitlements that he or she possesses or asserts pursuant to a written or oral employment agreement with the Company, any affiliate of the Company, or any successor of either the Company or its affiliates, regardless of
whether the term of such agreement is expired or unexpired as of his or her Separation Date. 
 ARTICLE V 

REQUIREMENT FOR RECEIPT OF SEVERANCE BENEFITS 

In order to receive payment of any Severance Benefits under the Plan, the Eligible Executive must comply with all requirements of this ARTICLE
V. 
 5.1 Execution of Separation Agreement and Release. In order for an Eligible Executive to receive his or her Severance Benefit,
the Eligible Executive must first execute the Separation Agreement and Release within the particular time period specified in the Separation Agreement and Release, which shall be no later than forty-five (45) days following the Eligible
Executive’s receipt of the Separation Agreement and Release or such earlier date as required by the Separation Agreement and Release (such deadline, the “Release Deadline”). The Separation Agreement and Release may provide for
an additional revocation period of at least seven (7) days (the “Revocation Period”). The executed Separation Agreement and Release must actually be received by the Administrator, or its duly authorized representative, at the
address specified by the Administrator, within seven (7) days after the Release Deadline to be considered timely. Notwithstanding the preceding, if the Eligible Executive does not properly execute the Separation Agreement and Release by the
applicable deadline, or, in the case of a Separation Agreement and Release that includes a Revocation Period, revokes an executed Separation Agreement and Release, the Eligible Executive will receive only those benefits required by applicable law.
If the Eligible Executive’s Separation Date and the Release Deadline fall in two separate taxable years, any payments required to be made to Eligible Executive that are treated as nonqualified deferred compensation for purposes of Code
Section 409A shall be made in the later taxable year. 
 5.2 Right to Recovery. The Company shall have the right to recover any
payment made to an Eligible Executive in excess of the amount to which the Eligible Executive is entitled to under the terms of the Plan. Such recovery may be from the Eligible Executive, the Beneficiary, or any insurer or other organization or
entity thereby enriched. In the event such repayment is not made by the Eligible Executive, such repayment shall be made either by (i) reducing or suspending 

  
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any future payments hereunder to the Eligible Executive or (ii) requiring an assignment of a portion of the Eligible Executive’s earnings, until the amount of such excess payments are
fully recovered. The Company shall also have the right to recover any payment made to an Eligible Executive under the Plan if he or she later asserts to be entitled to compensation or other payments on termination of employment pursuant to any
rights or entitlements that he or she possesses or asserts pursuant to a written or oral employment agreement with the Company or any successor thereto, regardless of whether the term of such agreement is expired or unexpired as of his or her
Separation Date. 
 5.3 Payment of Severance Benefits. Severance Benefits provided under the Plan shall be paid to the Eligible
Executive within the timeframe provided for in Section 3.2, but no earlier than the day following the expiration of any Revocation Period outlined in the Separation Agreement and Release, if applicable, assuming such Separation Agreement and
Release has not been revoked. If the Eligible Executive is, in the opinion of the Administrator, not competent to affect a valid release for payment of any benefit due him or her under the Plan and if no request for payment has been received by the
Administrator from a duly appointed guardian or other legally appointed representative of the Eligible Executive, the Company may make direct payment to the individual or institution appearing to the Administrator to have assumed custody or the
principal support of the Eligible Executive. If the Eligible Executive dies before receipt of his or her Severance Benefits to which he or she is entitled under the Plan, such benefits shall be paid to the Eligible Executive’s Beneficiary, if
not otherwise required by law. 
 5.4 Acceptance of Severance Benefit. By accepting any Severance Benefits from the Plan, the
Eligible Executive shall be deemed to have agreed to adhere to all terms of the Plan. 
 ARTICLE VI 

CLAIMS AND APPEAL PROCEDURES 

6.1 Claims Procedures. Severance Benefits will be automatically paid to an Eligible Executive who qualifies for such benefits under the
Plan and who signs and does not revoke the Separation Agreement and Release. An Eligible Executive who believes he or she is entitled to Severance Benefits under this Plan and has not been provided such benefits must file a written claim for such
benefits with the Administrator. The Administrator shall render a written decision concerning the claim not later than ninety (90) days after its receipt, unless special circumstances require an extension of time for processing the claim, in
which case a decision will be rendered not later than one hundred twenty (120) days after receipt of the claim. Written notice of the extension will be furnished to the Eligible Executive prior to the expiration of the initial ninety (90)-day
period and will indicate (i) the special circumstances requiring an extension of time for processing the claim and (ii) the date the Administrator expects to render its decision. For purposes of this Section 6.1, any payment of
Severance Benefits under this Plan shall be treated as the issuance of a written decision by the Administrator to approve the claim for benefits. 

If the claim is denied, in whole or in part, such decision shall include (i) the specific reasons for the denial; (ii) a reference
to the Plan provision(s) constituting the basis of the denial; (iii) a description of any additional material or information necessary for the Eligible Executive to perfect his or her claim; (iv) an explanation as to why such additional
material or information is necessary; and (v) a description of how the claim review procedure is administered. If the notice of denial is 

  
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not furnished in accordance with the above procedure, the claim shall be deemed denied, and the Eligible Executive is then permitted to appeal the decision. 

6.2 Appeal Procedure. If the Eligible Executive’s claim is denied, in whole or in part, he or she then has sixty (60) days to
appeal the decision. An appeal must be submitted in writing to the Administrator. The Eligible Executive may also submit a written request to review copies of the pertinent Plan documents in connection with his or her appeal. The Administrator will
review the appeal and determine if a meeting with the Eligible Executive is necessary to reach a decision. If the Administrator determines a meeting is necessary, the Eligible Executive must submit a written “statement of position”
containing all pertinent details of the appeal and the supporting reasons, as well as any questions the Eligible Executive may have regarding the appeal. The statement of position must be received by the Administrator at least fourteen
(14) days before the scheduled meeting. If the statement of position is not received in a timely manner, the Administrator may cancel the meeting. No action may be brought for Severance Benefits provided under the Plan or any amendment or
modification thereof, or to enforce any right thereunder, until a claim has been submitted and the appeal rights under the Plan have been exhausted. 

ARTICLE VII 
 PLAN
ADMINISTRATION 
 7.1 In General. The general administration of the Plan and the duty to carry out its provisions shall be vested
in the Administrator, which shall be the named fiduciary of the Plan for purposes of ERISA. The Administrator shall administer the Plan and any Severance Benefits provided under the Plan. The Administrator may, in its discretion, secure the services
of other parties, including agents and/or employees, to carry out the day-to-day functions necessary to an efficient operation of the Plan. The Administrator shall have
the exclusive, discretionary right to interpret the terms of the Plan, to determine eligibility for coverage and benefits, and to make such other determinations and to exercise such other powers and responsibilities as shall be provided for in the
Plan or shall be necessary or helpful with respect thereto, and its good faith interpretations and decisions shall be final, binding, and conclusive upon all persons. 

7.2 Reimbursement and Compensation. The Administrator shall receive no compensation for its services as Administrator, but it shall be
entitled to reimbursement for all sums reasonably and necessarily expended by it in the performance of such duties. 
 7.3 Rulemaking
Powers. The Administrator shall have the discretionary power to make reasonable rules and regulations required in the administration of the Plan; make all determinations necessary for the Plan’s administration, except those determinations
which the Plan requires others to make; and construe and interpret the Plan wherever necessary to carry out its intent and purpose and to facilitate its administration. The Administrator shall have the exclusive right to determine, in its
discretion, eligibility for coverage and benefits under the Plan and waive any requirements under the Plan’s terms, and the Administrator’s good faith interpretation of the Plan shall be final, binding, and conclusive on all persons. Any
dispute as to eligibility, type, amount, or duration of benefits under the Plan or any amendment or modification thereof shall be resolved by the Administrator under and pursuant to the Plan, in its sole and absolute discretion, and its decision of
the dispute shall be final, binding, and conclusive on all parties to the dispute. In the 

  
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exercise of such discretionary powers, the Administrator shall treat all similarly situated Eligible Executives uniformly and equitably under the Plan. The Administrator will be the named
fiduciary for purposes of Section 402(a)(1) of ERISA with respect to all duties and powers assigned to the Administrator hereunder and will be responsible for complying with all reporting and disclosure requirements of Part I of Subtitle B of
Title I of ERISA. 
 7.4 Indemnification. To the extent permitted by law, the Company shall indemnify any persons acting on its
behalf in fulfilling its duties as Administrator against any and all claims, losses, damages, expenses, or liabilities arising from its responsibilities in connection with the Plan, unless the same is deemed to be due to intentional misconduct or
such indemnification is prohibited by ERISA. 
 ARTICLE VIII 

MISCELLANEOUS 
 8.1
Amendment and Termination. The Company, acting through its chief executive officer or such other person or committee appointed by its board of directors, reserves the right to amend or terminate the Plan at any time it may deem advisable
without the consent of any person or entity. Severance Benefits payable to an Eligible Executive or his or her Beneficiary under the Plan prior to the amendment or termination of the Plan shall continue to be due and payable under the Plan. Any
amendment or termination shall be effective when adopted in a written instrument, and all Eligible Executives and their Beneficiaries and other persons shall be bound thereby. If the Plan is amended to improve benefits, the amendment will only apply
to Eligible Executives who terminate employment after the effective date of the amendment, unless the amendment specifies that it also applies to employment terminations occurring before the effective date of the amendment. If the Plan is
terminated, employment terminations that occur after the effective date of the termination of the Plan will not be covered by the Plan. 

8.2 Limitation of Rights. Neither the establishment of the Plan nor any amendment thereof, nor the payment of any benefits, will be
construed as giving to any Eligible Executive, or other person, any legal or equitable right against the Company or any person acting on behalf of the Company. Likewise, nothing appearing in or completed pursuant to the Plan shall be held or
construed to create a contract of employment with any Eligible Executive, to continue the current employment status, or to modify his or her terms of employment in any way; nor shall any provision hereof restrict the right of the Company to
discharge any of its employees or restrict the right of any such employee to terminate his or her employment with the Company. 
 8.3
Governing Law. The Plan shall be governed and construed in accordance with ERISA and any other applicable federal law and, to the extent not preempted by federal law, the laws of the State of Georgia. Except as otherwise mandated by federal
law, exclusive jurisdiction over all disputes and actions arising under, or directly or indirectly relating to, the Plan shall be in Fulton County, Georgia. 

8.4 Funding and Source of Severance Benefits Payments. Any Severance Benefits payable under the Plan shall be paid from the general
assets of the Company. Nothing in the Plan 

  
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shall be construed to create a trust or to establish or evidence any Eligible Executive’s claim of any right to payment of any benefits other than as an unsecured general creditor with
respect to any payment to which such Eligible Executive may be entitled. 
 8.5 Successor Employer. In the event of a merger,
consolidation, dissolution, or reorganization of the Company or transfer of all or substantially all of its assets to any other corporation, partnership, or association, a provision may be made by such successor corporation, partnership, or
association, at its election, for the continuation of the Plan created hereunder by such successor entity. Such successor shall, upon its election to continue the Plan, be substituted in place of the Company by an instrument duly authorizing such
substitution. 
 8.6 Severability. If any provision of the Plan is held invalid or unenforceable, its validity or unenforceability
shall not affect any other provisions of the Plan, and the Plan shall be construed and enforced as if such provision had not been included herein. 

8.7 Captions. The captions contained herein are inserted only as a matter of convenience and for reference and in no way define, limit,
enlarge, or describe the scope or intent of the Plan, nor in any way shall affect the Plan or the construction of any provision thereof. 

8.8 Gender and Numbers. Terms used in the masculine shall also include the feminine and be neutral where appropriate. Terms in the
singular shall include the plural where appropriate and vice versa. 
 8.9 Non-transferability. No benefit, right, or interest of any
Eligible Executive hereunder shall be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, seizure, attachment or legal, equitable, or other process or be liable for, or subject to, the debts, liabilities,
or other obligations of such persons, except as otherwise required by law. 
 8.10 Limitations. No action may be brought for benefits
provided by this Plan or any amendment or modification thereof, or to enforce any right thereunder, until after the claim has been submitted to and determined by the Administrator, and thereafter the only action which may be brought is one to
enforce the decision of the Administrator. Any legal action must commence within twelve (12) calendar months immediately following the date of such Administrator’s decision made pursuant to Section 6.2 above. 

8.11 Non-Duplication of Benefit. No provisions in this Plan shall be deemed to duplicate any compensation or benefits provided under
any agreement, plan, or program covering the Eligible Executive (including, without limitation, the Dell Plan) with respect to the same Qualifying Termination, and any duplicative amount payable under any such agreement, plan, or program shall be
applied as an offset to reduce the amounts otherwise payable hereunder. 
 8.12 Information Requested. The Eligible Executive or
other persons shall provide the Company, the Administrator, or their authorized representatives with such information and evidence, and shall sign such documents, as may reasonably be requested from time to time for the purpose of administration of
the Plan. 

  
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 8.13 Mistaken Payments. Any amounts paid to an Eligible Executive or other person in
excess of the amount to which he or she is entitled hereunder shall be repaid by the Eligible Executive or other person promptly following the sooner of receipt by the Eligible Executive or other person of a notice of such excess payments or when
such person has knowledge of the excess payments. In the event such repayment is not made by the Eligible Executive or other person, such repayment shall be made, at the discretion of the Administrator, either by reducing or suspending future
payments hereunder to the Eligible Executive or other person or by requiring an assignment of a portion of the Eligible Executive or other person’s earnings, until the amount of such excess payments are recovered by the Administrator. 

8.14 Integration with WARN Act. To the extent that any federal, state, or local law, including, without limitation, any so-called
“plant closing” laws, requires the Company to give advanced notice or make payment of any kind to an Eligible Executive because of his or her involuntary termination due to a layoff, reduction in force, plant or facility closing, sale of
business, change of control, or any other similar event or reason, the Severance Benefits provided under this Plan may either be reduced or eliminated. The benefits provided under this Plan are intended to satisfy any and all statutory obligations
that may arise out of any Eligible Executive’s involuntary termination for any of the foregoing reasons, and the Administrator shall construe and implement the terms of this Plan in its sole discretion. Included in the scope of the foregoing,
(i) if an Eligible Executive receives notice from the Company pursuant to the Workers Adjustment and Retraining Notification (WARN) Act and remains employed during the WARN notice period, then the Severance Benefits payable to the Eligible
Executive may be reduced by the pay and benefits received by such Eligible Executive during the WARN notice period, and (ii) if an Eligible Executive receives notice from the Company pursuant to the Workers Adjustment and Retraining
Notification (WARN) Act and does not remain employed during some or all of the WARN notice period, then the Severance Benefits payable to the Eligible Executive shall be reduced any amount the Company is required to pay to such Eligible Executive as
compensation for its failure to provide timely notice under the WARN Act. An Eligible Executive shall not be required to sign a Separation Agreement and Release solely with respect to the portion of any payment under this Plan which must be paid
pursuant to the Workers Adjustment and Retraining Notification (WARN) Act or any other comparable law. 
 8.15 Section 409A
Limitation. Each payment of Severance Benefits, including any outplacement benefits or continued medical benefits, shall be treated as a separate payment for purposes of the Short-Term Deferral rules under Treasury Regulation
Section 1.409A-1(b)(4)(i)(F), the exemption for involuntary terminations under separation pay plans under Treasury Regulation Section 1.409A-1(b)(9)(iii), the exemption for medical expense reimbursements under Treasury Regulation
Section 1.409A-1(b)(9)(v)(B), and the exemption for in-kind benefits under Treasury Regulation Section 1.409A-1(b)(9)(v)(C). No amount shall be payable under this Plan unless such amount (i) is paid on or before March 15th day of the calendar year immediately following the applicable Separation Date or (ii) is paid on or before the last day of the second calendar year following the year during which an Eligible
Executive’s Separation Date occurred and is includable in a group of payments which does not exceed the lesser of two times the Eligible Executive’s annual Base Salary in the year prior to the year during which the Separation Date occurred
or two times the limit under Code Section 401(a)(17) as then in effect. 

  
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 8.16 Entire Document. THE BENEFITS DESCRIBED IN THE PLAN ARE INTENDED TO BE THE ENTIRE
BENEFITS PAYABLE TO AN ELIGIBLE EXECUTIVE WHOSE EMPLOYMENT IS TERMINATED SOLELY AS A RESULT OF A QUALIFYING TERMINATION, OTHER THAN BENEFITS PROVIDED BY ANOTHER EMPLOYEE BENEFIT PLAN OF THE COMPANY. BY ELECTING TO PARTICIPATE IN THE PLAN AND SIGNING
THE SEPARATION AGREEMENT AND RELEASE ON THE FORM PROVIDED TO THE ELIGIBLE EXECUTIVE BY THE COMPANY, THE ELIGIBLE EXECUTIVE WAIVES HIS OR HER RIGHT TO BENEFITS UNDER ANY AND ALL PRIOR SEVERANCE AGREEMENTS, UNDERSTANDINGS, EMPLOYMENT, OR OTHER
AGREEMENTS, DESCRIPTIONS, OR ARRANGEMENTS. 
 [Signature Page Attached] 

  
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14 

 IN WITNESS WHEREOF, the Company has caused the SecureWorks Corp. Amended and Restated Severance
Pay Plan for Executive Employees to be executed in its name and on its behalf by a duly authorized officer. 
  

			
	SECUREWORKS CORP.
		
	By:	 	/s/ George Hanna
		
	Name:	 	George Hanna
		
	Title:	 	Vice President & General Counsel

 [Signature page to SecureWorks Corp. Amended and Restated 

Severance Pay Plan for Executive Employees] 

 Exhibit A 

DESCRIPTION OF SEVERANCE BENEFITS 

(Attached) 

 Schedule A-1 

Standard Severance Benefits 

(Individuals Described in Any Other Schedule to Exhibit A Excluded) 

This Schedule A-1 to Exhibit A to the SecureWorks Corp. Amended and Restated Severance Pay Plan for Executive
Employees lists the Severance Benefits provided to Severance Benefit Employees under the Plan’s terms; provided that the benefits described in Sections 3 and 4 shall not apply to any Executive Employee who is classified as a “Covered
Employee” for purposes of Section 162(m)(3) of the Code. Individuals eligible to receive benefits under any other Schedule to Exhibit A shall not be eligible to receive benefits under this
Schedule A-1. 
  

	1.	Severance Pay. If an Eligible Executive signs and does not revoke a Separation Agreement and Release, he or she will be eligible to receive Severance Pay in the amount of twelve (12) months of Base Salary.
This payment will not include 401(k) or any other benefits-related deductions. However, all applicable taxes will be withheld. 

If an Eligible Executive does not sign the Separation Agreement and Release or if the Eligible Executive revokes a signed Separation Agreement
and Release, the only benefits payable hereunder shall be such amounts as are required by applicable law. 
  

	2.	COBRA Benefits Payment Coverage. If an Eligible Executive signs and does not revoke a Separation Agreement and Release and he or she enrolls in COBRA coverage, the Company will pay the first twelve
(12) months of the Eligible Executive’s COBRA premiums. 

 If an Eligible Executive does not sign the Separation
Agreement and Release or if the Eligible Executive revokes a signed Separation Agreement and Release, the only COBRA benefits payable hereunder shall be those benefits required by applicable law. 

 

	3.	Short-Term Incentive Plan Payments. If an Eligible Executive signs and does not revoke a Separation Agreement and Release and such Eligible Executive is participating in the SecureWorks Corp. Incentive Bonus Plan
(or any other predecessor or successor plan of the Company or any of its affiliates under which the Eligible Executive is entitled to receive a short-term incentive payment) on his or her Separation Date, the Eligible Executive will receive an
additional Severance Benefit equal to a prorated award payout. This payout amount will be calculated using: 

  

	 	•	 	A payout modifier of 75%. 

  

	 	•	 	A proration factor based on the number of days in the fiscal year that the Eligible Executive was employed by the Company, Dell, and their subsidiaries or affiliates through his or her Separation Date.

  

	 	•	 	The Eligible Executive’s Base Salary on his or her Separation Date. 

  
 i 

	 	•	 	The plan target for the Eligible Executive’s grade. 

  

	 	•	 	Assumed corporate performance and individual modifiers of 100%. 

 Amounts payable under this
Section 3 will be paid to the Eligible Executive through direct deposit (if available) within thirty (30) business days after the Administrator’s receipt of the signed Separation Agreement and Release. 

If an Eligible Executive does not sign the Separation Agreement and Release or if the Eligible Executive revokes a signed Separation Agreement
and Release, the Eligible Executive will not receive any short-term incentive plan payments. 
  

	4.	Long-Term Incentive Plan Payments. If an Eligible Executive signs and does not revoke a Separation Agreement and Release and such Eligible Executive holds unvested long-term incentive grants which are due to vest
within ninety (90) days following his or her Separation Date, such Eligible Executive will receive an additional Severance Benefit equal to a prorated portion of the value of such grants. This payout amount will be calculated using the
following calculation formula as applicable: 

  

	 	•	 	Stock Options: 75% TIMES number of options due to vest within ninety (90) days after the Eligible Executive’s Separation Date TIMES (the Company’s average closing price for the week prior to the
week of the Eligible Executive’s Separation Date MINUS the option exercise price). If this value is negative, it will be excluded from the payment calculation. 

 

	 	•	 	Restricted (and Performance Based) Stock Units: 75% TIMES number of units due to vest within ninety (90) days after the Eligible Executive’s Separation Date TIMES the Company’s average closing
price for the week prior to the week of the Eligible Executive’s Separation Date. 

  

	 	•	 	Long-Term Cash: 75% TIMES value of cash due to vest within ninety (90) days after the Eligible Executive’s Separation Date. 

Amounts payable under this Section 4 will be paid to the Eligible Executive through direct deposit (if available) within thirty
(30) business days after the Administrator’s receipt of the signed Separation Agreement and Release. 
 If an Eligible Executive
does not sign the Separation Agreement and Release or if the Eligible Executive revokes a signed Separation Agreement and Release, the Eligible Executive will not receive any long-term incentive plan payments. 

NOTE: The terms and conditions of an Eligible Executive’s Long-Term Incentive award agreements remain in full force and effect
following the termination of his or her employment. An Eligible Executive’s agreements may require the Eligible Executive to return shares of stock, share value, option proceeds, or cash award payments if he or she

  
 ii 

 
engages in certain conduct detrimental to the Company after the Eligible Executive’s termination of employment. 
  

	5.	Outplacement Benefits. If an Eligible Executive signs and does not revoke a Separation Agreement and Release, such Eligible Executive will receive six (6) months of executive outplacement services, provided
the Eligible Executive commences use of such benefits within sixty (60) days following his or her Separation Date. 

 If
an Eligible Executive does not sign the Separation Agreement and Release or if the Eligible Executive revokes a signed Separation Agreement and Release, the Eligible Executive will not receive any outplacement benefits. 

  
 iii

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