Document:

Form of Put-Call Option Agreement

  
 Exhibit 10.1

 PUT/CALL OPTION AGREEMENT 
 This Put/Call Option Agreement (this “Agreement”) is made and entered into this 2nd day of November 2010, by and between Team, Inc., a Texas corporation
(“Team”) and the shareholders listed on the signature pages hereto (each, a “Class B Stockholder” and collectively, the “Class B Stockholders”). Team and the Class B
Stockholders are each referred to as a “Party” and, collectively, they are sometimes referred to as the “Parties.” 
 RECITALS 
 WHEREAS, the Parties hereto, together with TQ Acquisition, Inc.,
a Texas corporation (the “Company”), Quest Integrity Group, LLC, a Delaware limited liability company (“Quest”), and John Zink Holdings, Inc., a Texas corporation (“JZH”), have
entered into either the Membership Interest Purchase Agreement to which Milton J. Altenberg; Ring Mountain Capital, LLC; Quest Integrated, Inc.; Alexius Group II, LLC; and Todd Katz are parties or the Membership Interest Purchase Agreement to which
a Class B Stockholder is a party as an individual, each as dated of even date herewith (collectively, the “Purchase Agreements”), whereby the JZH and the Class B Stockholders agreed to sell and transfer to the Company
all of the outstanding membership interests in Quest (the “Membership Interests”); 
 WHEREAS, as
partial consideration for their respective Membership Interests in Quest, the Class B Stockholders received, in the amount set forth opposite each such Class B Stockholder’s name in Exhibit A hereto, an aggregate of 5,000 shares, $1.00
par value per share of Class B common stock of the Company (the “Class B Stock”) representing 5.0% of the issued and outstanding capital stock of the Company; 

WHEREAS, Team is the beneficial owner of 95,000 shares, $1.00 par value per share of Class A Common Stock of the Company,
representing 95.0% of the issued and outstanding capital stock of the Company; 
 WHEREAS, it is a condition to the
Parties’ obligations to close the transactions contemplated in the Purchase Agreements that the Parties execute and deliver this Agreement; and 
 NOW THEREFORE, for and in consideration of the Transactions contemplated in the Purchase Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Team and the Company Members agree as follows: 
 AGREEMENT 

ARTICLE I 

DEFINITIONS 
 (a)
Average Annual EBITDA” means the Third Year EBITDA plus the Fourth Year EBITDA divided by two. 
 (b)
“Business Day” means any day other than a Saturday, a Sunday or a day in which commercial banks located in Houston are permitted by law to close. 

  
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 (c) “Change
of Control of the Company” means (i) a merger, consolidation, share exchange or similar transaction of the Company with or into another entity in which the Company shall not be the surviving entity other than a transaction
undertaken in order to reincorporate in another state or a transaction undertaken with Team or any of its Subsidiaries (for purposes thereof, the Company shall not be deemed the surviving entity in any such transaction if, as the result thereof, it
becomes a wholly-owned subsidiary of another entity unless such entity is Team or any of its Subsidiaries); (ii) any sale of all or substantially all of the assets of the Company to an entity other than Team or any of its Subsidiaries;
(iii) the complete liquidation of the Company; or (iv) the acquisition of “beneficial ownership” (as defined in Rule 13d-3 under the Act) of securities of the Company representing more than 50% of the combined voting power of the
Company’s then outstanding securities by any “person,” as such term is used in Sections 13(d) and 14(d) of the Act, other than Team or Quest, any trustee or other fiduciary holding securities under an employee benefit plan of Team,
the Company or Quest, or any entity owned directly or indirectly by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company; provided, however, that in no event shall a Change of Control
include any transaction following which the former shareholders of the Company continue to represent 50% or more of the combined voting power of the Company’s then outstanding securities, in substantially the same proportions as prior to the
transaction. 
 (d) “Change of Control of Quest” means (i) a merger, consolidation, share exchange
or similar transaction of Quest with or into another entity in which Quest shall not be the surviving entity other than a transaction undertaken in order to reform in another state or a transaction undertaken with Team or any of its Subsidiaries
(for purposes thereof, Quest shall not be deemed the surviving entity in any such transaction if, as the result thereof, it becomes a wholly-owned subsidiary of another entity unless such entity is Team or any of its Subsidiaries); (ii) any
sale of all or substantially all of the assets of Quest to an entity other than Team or any of its Subsidiaries; (iii) the complete liquidation of Quest; or (iv) the acquisition of “beneficial ownership” (as defined in Rule 13d-3
under the Act) of securities of Quest representing more than 50% of the combined voting power of Quest’s then outstanding securities by any “person,” as such term is used in Sections 13(d) and 14(d) of the Act, other than Team or the
Company, any trustee or other fiduciary holding securities under an employee benefit plan of Team, the Company or Quest, or any entity owned directly or indirectly by the stockholders of Quest in substantially the same proportion as their ownership
of equity of Quest; provided, however, that in no event shall a Change of Control include any transaction following which the former equityholders of Quest continue to represent 50% or more of the combined voting power of Quest’s then
outstanding securities, in substantially the same proportions as prior to the transaction. 
 (e) “Change of Control
of Team” means (i) a merger, consolidation, share exchange or similar transaction of Team with or into another entity in which Team shall not be the surviving entity other than a transaction undertaken in order to reincorporate in
another state (for purposes thereof, Team shall not be deemed the surviving entity in any such transaction if, as the result thereof, it becomes a wholly-owned subsidiary of another entity); (ii) any sale of all or substantially all of the
assets of Team; (iii) the complete liquidation of Team; or (iv) the acquisition of “beneficial ownership” (as defined in Rule 13d-3 under the Act) of securities of Team representing more than 50% of the combined voting power of
Team’s then outstanding securities by any “person,” as such term is used in Sections 13(d) and 14(d) of the Act, other than 

  
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Team, any trustee or other fiduciary holding securities under an employee benefit plan of Team, or any entity owned directly or indirectly by the stockholders of Team in substantially the same
proportion as their ownership of stock of Team; provided, however, that in no event shall a Change of Control include any transaction following which the former shareholders of Team continue to represent 50% or more of the combined voting power of
Team’s then outstanding securities, in substantially the same proportions as prior to the transaction. 
 (f)
“Class B Stockholder Representative” means Jeffrey L. Ott, or if he should be unable or unwilling to act, Milton J. Altenberg. 
 (g) “EBITDA” means consolidated earnings from operations of Quest and its Subsidiaries, as determined in accordance with GAAP as consistently applied by the Company before
consolidated interest, taxes, depreciation and amortization cost recorded by the Company, in each case, as determined in accordance with GAAP as consistently applied by the Company. For purposes of this Agreement, Team will not allocate charges to
Quest that are not directly related to Quest activities. 
 (h) “Exercise Date” means the date on which
a Party hereto delivers the applicable Exercise Notice. 
 (i) “Fourth Year EBITDA” means EBITDA for the
period beginning on June 1, 2014, and ending on May 31, 2015. 
 (j) “GAAP” means United
States generally accepted accounting principles. 
 (k) “Intercompany Balance” means for the period
November 1, 2010 through May 31, 2015, a net accumulated receivable from Team to Quest (a positive number) or a net payable to Team from Quest (a negative number), denominated in U.S. dollars, equal to: 

(i) all cash transferred from Quest to Team, where such transfer does not represent a payment for services rendered by
Team to Quest; plus 
 (ii) all payments and accruals made by Quest to a third party (who is not a Party hereto)
in order to reduce a liability of Team or to increase an asset of Team not related to Quest, and where such payment does not represent a payment for services rendered by Team to Quest; minus 

(iii) all cash transferred from Team to Quest, where such transfer does not represent a payment for services rendered by
Quest to Team; minus 
 (iv) all payments and accruals made by Team to a third party (who is not a Party hereto)
in order to reduce a liability of Quest (including any payments made by Team to Green Bank, N.A. in order to reduce the outstanding borrowings of Quest from Green Bank, N.A.) or to increase an asset of Quest, and where such payment does not
represent a payment for services rendered by Quest to Team; minus 
 (v) all cost allocations for services
directly related to Quest activities; minus 

  
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 (vi)
the Working Capital Adjustment, if any. 
 (vii) The payments contemplated in (i) through (vi) above
are meant to include any manner of payment, whether they are characterized as debt, distributions, dividends, or otherwise. 

(l) “Last Reported Sale Price” of Team Common Stock on any date means the closing sale price per share of Team
Common Stock (or if no closing sale price is reported, the average of the bid and ask price or, if more than one in either case, the average of the average bid and average ask prices) on that date as reported in composite transactions for the
principal United States securities exchange on which Team Common Stock is traded. If Team Common Stock is not listed for trading on a United States national or regional securities exchange on the relevant date, the “Last Reported Sale
Price” shall be the last quoted bid price for Team Common Stock in the over-the-counter market on the relevant date as reported by Pink Sheets LLS or a similar organization. If Team Common Stock is not so quoted, the “Last Reported Sale
Price” shall be the average of the mid-point of the last bid and ask prices for Team Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms selected by Team for this purpose.

 (m) “Net Working Capital” means the total current assets less the total current liabilities, other
than intercompany balances or debt obligations, of Quest. 
 (n) “Person” means any individual,
partnership, limited liability company, corporation, association, joint stock company, trust, joint venture, labor organization, unincorporated organization, or governmental authority. 

(o) “Quest Group” means Quest and its Subsidiaries. 

(p) “Quest Principals” means Milton J. Altenberg and Jeffrey L. Ott, provided that if either of them shall die,
then the survivor. 
 (q) “Settlement Amount” means the greater of (i) $2,360,056, or
(ii) $2,360,056 plus (A) the Average Annual EBITDA multiplied by 7.25, less (x) $45 million, plus or minus (y) any Intercompany Balance, multiplied by (B) 0.35. 

(r) “Settlement Rate” means the per share average closing price of Team Common Stock reported on the NASDAQ
Global Select Market for the ninety (90) Trading Days preceding May 31, 2015. 
 (s)
“Subsidiary” means with respect to any Person or other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency)
to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a
partnership, limited liability company, association or other business entity, a majority of the partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a 

  
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partnership, limited liability company, association or other business entity if such Person or Persons shall be allocated a majority of partnership, limited liability company, association or
other business entity gains or losses or shall be or control the managing director or general partner of such partnership, limited liability company, association or other business entity. 

(t) “Team Common Stock” means the common stock, $0.30 par value per share, of Team, Inc. 

(u) “Third Party Accountant” means a recognized national or regional accounting firm mutually acceptable to Team
and the Class B Stockholder Representative. 
 (v) “Third Year EBITDA” means EBITDA for the period
beginning on June 1, 2013, and ending on May 31, 2014. 
 (w) “Trading Day” means any day on
which (i) trading in Team Common Stock generally occurs on the NASDAQ Global Select Market or, if Team Common Stock is not then listed on the NASDAQ Global Select Market, on the principal or other United States national or regional securities
exchange on which Team Common Stock is then listed or, if Team Common Stock is not then listed on a United States national or regional securities exchange, in the principal other market on which Team Common Stock is then traded, and (ii) a Last
Reported Sale Price for Team Common Stock is available on such securities exchange or market. If Team Common Stock is not so listed or traded, “Trading Day” means a Business Day. 

(x) “Working Capital Adjustment” shall be calculated as follows: 

(i) At the Exercise Date, to the extent Quest’s ratio of Net Working Capital to trailing 12 month revenue is less
than the average ratio of Net Working Capital to trailing twelve month revenue computed for the preceding 24 month period, the Intercompany Balance at the Exercise Date shall be adjusted (increased if the Intercompany Balance is a payable to Team or
decreased if the Intercompany Balance is a Receivable from Team), for purposes of the Exercise Price calculation, by an amount equal to the Net Working Capital necessary to achieve the same ratio as the trailing 24 month average month end Net
Working Capital. 
 (ii) At the Exercise Date, to the extent Quest’s ratio of Net Working Capital to
trailing 12 month revenue is greater than average ratio of Net Working Capital to trailing twelve month revenue computed for the preceding 24 month period, no adjustment to the Intercompany Balance at the Exercise Date shall be necessary.

 ARTICLE II 
 CALL OPTION 
 Section 2.1 Call Option. 

(a) Subject to Section 5.1 hereof, on or after May 31, 2015 (the “Option Date”), Team shall have
the right, but not the obligation, to exercise an option to purchase all, but not less than all, of the outstanding shares of Class B Stock (the “Call Option”) for an aggregate number of unregistered shares of Team Common
Stock equal to (A) the Settlement Amount 

  
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divided by (B) the Settlement Rate (such formula is referred to herein as, the “Exercise Price”). A Call Option exercised hereunder shall be completed as soon as
practicable following the finalization of the audited financial statements of the Company for the fiscal year period ending May 31, 2015, or if such audited statements have already been issued, then within ten days following the giving of an
executed copy of the exercise notice in the applicable form attached hereto as Exhibit B (the “Exercise Notice”). 
 Section 2.2 Call Option Exercise Notice. In order to exercise the Call Option, Team shall send by written notice at any time prior to 5:00 p.m., Houston time, to the Class B Stockholder
Representative the Exercise Notice. 
 ARTICLE III 
 PUT OPTION 
 Section 3.1 Put Option. Subject to Section 5.1
hereof, on or after the Option Date, the Class B Stockholder Representative shall have the right, but not the obligation, to exercise an option to cause the Company to purchase all, but not less than all, of the outstanding shares of Class B Stock
(the “Put Option”) for the Exercise Price. A Put Option exercised pursuant to this Section 3.1 shall be completed as soon as practicable following the finalization of the audited financial statements of the
Company for the fiscal year period ending May 31, 2015, or if such audited statements have already been issued, then within ten days following the giving of the Exercise Notice. 

Section 3.2 Put Option Exercise Notice. In order to exercise the Put Option, the Class B Stockholder Representative shall send, by
written notice, at any time prior to 5:00 p.m., Houston time, to Team an executed copy of the applicable Exercise Notice. 

Section 3.3 Acceleration of Put Option. 

(a) Subject to Section 3.3(e) and Section 5.1 hereof, within the period commencing on the
date of an Acceleration Event pursuant to Section 3.3(c)(i) below and ending on the sixtieth
(60th) day following the Class B Stockholder
Representative’s written notice to the Company of such Acceleration Event, the Class B Stockholder Representative, after providing the applicable Exercise Notice to the Company, shall have the right, but not the obligation, to exercise the Put
Option for an aggregate number of unregistered shares of Team Common Stock equal to: 
 (i) the greater of
(I) $2,360,056, or (II) $2,360,056 plus ((A) the Appraised Value of the Company and its Subsidiaries, less (x) $45 million, plus or minus (y) any Intercompany Balance), multiplied by (B) 0.35), divided by 

(ii) the per share average closing price of Team Common Stock reported on the NASDAQ Global Select Market for the 90
Trading Days ending the date immediately preceding the date of such Acceleration Event. 
 (iii) In the event
that Team Common Stock is expected to cease being publicly traded in connection with a Change of Control of Team, then the Class B Stockholders shall be entitled to receive the dollar value contemplated in 3(a)(i) through 3(a)(iii) above, but
payable in the same type of consideration as being paid to holders of Team Common Stock. 

  
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(b) Within the period commencing on the date of an Acceleration Event pursuant to Section 3.3(c)(ii) below
and ending on the sixtieth (60th) day following the
Class B Stockholder Representative’s written notice to the Company of such Acceleration Event, the Class B Stockholder Representative, after providing the applicable Exercise Notice to the Company (or any successor entity to the Company), shall
have the right, but not the obligation, to exercise the Put Option for an aggregate number of unregistered shares of Team Common Stock equal to: 
 (i) the greater of (I) $2,360,056, or (II) $2,360,056 plus ((A) the Appraised Value of the Company and its Subsidiaries, less (x) $45 million, plus or minus (y) any Intercompany
Balance), multiplied by (B) 0.35); divided by 
 (ii) the per share average closing price of Team Common
Stock reported on the NASDAQ Global Select Market for the 90 Trading Days ending the date immediately preceding the date of such Acceleration Event. 
 (c) An “Acceleration Event” will be deemed to have occurred, if at any time after the date hereof and prior to the Option Date the following occurs: 

(i) there is a Change of Control of Team and Team or any successor entity to Team, following a Change of Control
(A) fails to allow the Company to invest net cash flows generated from its operations back into the Company (regardless of whether such investments are capitalized or expensed for accounting purposes) or (B) otherwise fails to make
financial commitments to the Company on a basis at least as favorable as those in effect prior to the Change of Control; or 
 (ii) there is a Change of Control of Quest or the Company. 
 (d) For purposes of
this Agreement, “Appraised Value” shall be, as of the date of the Acceleration Event, the Fair Market Value determined by an Appraiser appointed pursuant to Section 3.3(e). 

(e) Within fifteen (15) days after a Class B Stockholder gives an Exercise Notice under Section 3.3(a) or
Section 3.3(b) hereof, Team and the Class B Stockholder Representative shall jointly select an independent appraiser (the “Appraiser”). In order to qualify for appointment as an Appraiser hereunder, an appraiser
shall have no direct or indirect financial or other business interest in Team, any Class B Stockholder or the Company or any affiliate of Team, a Class B Stockholder or the Company, shall be qualified and experienced in valuing businesses which are
in the same or similar business of the Company and shall be neutral and impartial. If the parties agree on an Appraiser, such Appraiser shall appraise the Company and its Subsidiaries and notify the parties within thirty (30) days after his
appointment of his determination of the Appraised Value of the Company and its Subsidiaries, which notice shall be accompanied by a copy of his appraisal report. Such Appraiser’s determination of such Appraised Value shall be conclusive and
binding upon the Parties for the purposes for which 

  
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such determination was made. If Team and the Class B Stockholder Representative are unable to agree upon a single Appraiser within such fifteen (15) day period, then either party may call
for the appointment of an Appraiser by giving notice to the other. Each such party shall then designate an appraiser within fifteen (15) days of the date of such notice. If either such party fails to designate an appraiser, the appraiser
selected by the other shall be the Appraiser for purposes of this Section 3.3(d). If each such party designates an appraiser, the appraisers appointed by such parties shall select a third Appraiser within thirty (30) days after
either such party calls for the appointment of an appraiser and such third appraiser shall be the Appraiser for purposes of this Section 3.3(d). The Appraiser appointed shall appraise the Company and its Subsidiaries as stated herein and
notify the parties within thirty (30) days after his appointment by the designated appraisers of his determination of the Appraised Value of the Company and its Subsidiaries, which notices shall be accompanied by his appraisal report. The
Appraised Value shall be the value determined by such Appraiser in accordance with Section 3.3(d) above. The determination of the Appraised Value of the Company shall be conclusive and binding upon the parties for the purposes for which
such determination was made. The fees and expenses of the Appraiser shall be borne equally by (i) Team and (ii) the holders of the Class B Stock as a group. Any holder of the Class B Stock may elect to have fees and expenses paid by
deduction from the value due to that holder and the failure of any such holder to pay a sum owed within sixty (60) days shall be such an election. 
 ARTICLE IV 
 CALCULATION OF EBITDA 

Section 4.1 Calculation of Third Year EBITDA. Team shall determine the Third Year EBITDA based on its audited financial statements
within 75 days following May 31, 2014 and results thereof shall be forwarded to the Class B Stockholder Representative along with a copy of such accounting records and other information as is reasonably necessary to support Team’s
calculations of the Third Year EBITDA (the “Supporting Data”). During the determination or thereafter until the Third Year EBITDA amount is finally resolved, if the Class B Stockholder Representative requests, Team shall
promptly provide the Class B Stockholder Representative with total and complete access to Quest Group financial and business records, subject only to a confidentially agreement of a standard form required of Team senior management. The Class B
Stockholder Representative shall review the calculation of the Third Year EBITDA, and within 30 days after delivery thereof notify Team in wiring of any disagreement with such calculation. If within such 30 days following delivery the Class B
Stockholder Representative does not object in writing thereto, then Team’s determination of the Third Year EBITDA shall be conclusive. If the Class B Stockholder Representative objects in writing to Team’s computation, then Team and the
Class B Stockholder Representative shall negotiate in good faith and attempt to resolve their disagreement. Should such negotiations not result in an agreement within 20 days, then the matter shall be submitted to the Third Party Accountant within
15 days of such failure to agree. If the parties agree on a Third Party Accountant, such Third Party Accountant will deliver to Team and the Class B Stockholder Representative a written determination (such determination to include a worksheet
setting forth all material calculations used in arriving at such determination and to be based solely on information provided to the Third Party Accountant by Team and the Class B Stockholder Representative) of the disputed items within 30 days
(unless such period is extended by the consent of both Team and the Class B Stockholder Representative ) of receipt of notification of the disputed items. Such Third Party Accountant’s determination of such Third

  
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Year EBITDA shall be conclusive and binding upon the parties for the purposes for which such determination was made. If Team and the Class B Stockholder Representative are unable to agree upon a
single Third Party Accountant within such fifteen (15) day period, then either such party may call for the appointment of a third party accountant by giving notice to the other. Each such party shall then designate a third party accountant
within fifteen (15) days of the date of such notice. If either such party fails to designate a third party accountant, the third party accountant selected by the other shall be the Independent Accountant for purposes of this Article 4.
If each such party designates a third party accountant, the third party accountants appointed by Team and the Class B Stockholder Representative shall select a third third-party accountant within thirty (30) days after either such party calls
for the appointment of a third party accountant and such third third-party accountant shall be the Third Party Accountant for purposes of this Article 4. All fees and expenses relating to appointment of the Third Party Accountant and the
work, if any, to be performed by the Third Party Accountant will be borne equally by (i) Team and (ii) the holders of the Class B Stock as a group. No part of the cost of the Third Party Accountant shall be charged to the Company or Quest.
The Third Party Accountant will deliver to Team and the Class B Stockholder Representative a written determination (such determination to include a worksheet setting forth all material calculations used in arriving at such determination and to be
based solely on information provided to the Third Party Accountant by Team and the Class B Stockholder Representative) of the disputed items within 30 days (unless such period is extended by the consent of both Team and the Class B Stockholder
Representative) of receipt of notification of the disputed items. Such Third Party Accountant’s determination of such Third Year EBITDA shall be conclusive and binding upon the parties for the purposes for which such determination was made.

 Section 4.2 Calculation of Fourth Year EBITDA. Within 60 days following May 31, 2015, Team and the Class B
Stockholder Representative shall determine the EBITDA for the Fourth Year EBITDA in the same manner as provided in Section 4.1 above. 
 ARTICLE V 
 COVENANTS AND AGREEMENTS 

Section 5.1 Exercise Mechanics. 
 (a) Exercise Limitation. Notwithstanding anything to the contrary contained herein, to the extent that the exercise of the Call Option or Put Option (upon an Acceleration Event or
otherwise), together with the shares of Team Common Stock issued to the Class B Stockholders pursuant to the Purchase Agreements, will result in the Class B Stockholders beneficially owning more than 19.90% of the then outstanding Team Common Stock
or voting power of Team on the Exercise Date (the “Exercise Limitation”), then the amount of shares otherwise issuable upon the exercise of such Call Option or Put Option as contemplated hereunder will be proportionately
reduced so as not to exceed the Exercise Limitation. 
 (b) Proportional Issuance; Fractional Shares. The
aggregate number of unregistered shares of Team Common Stock determined pursuant to the provisions of Article II and Article III hereof shall be issued to Class B Stockholders based on their percentage ownership of the Class B Stock.
No fractional shares of Team Common Stock shall be issued pursuant to this Agreement, and no certificates or scrip for any such fractional share shall be 

  
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issued. Any Class B Stockholder who would otherwise be entitled to receive a fraction of a share pursuant to this Agreement shall, in lieu of such fraction of a share, receive one full share
of unregistered Team Buyer Common Stock determined by rounding up or down to the nearest whole number.
 Section 5.2 Holder
of Record. A Class B Stockholder shall, for all purposes, be deemed to have become the holder of record of the shares of Team Common Stock specified in the Exercise Notice on the date of delivery of such shares of Team Common Stock. Except as
specifically provided herein, nothing herein shall be construed as conferring upon the holders of Class B Stock any rights as a shareholder of Team prior to the date of delivery of the shares of Team Common Stock. 

Section 5.3 Restrictions on Disposition. Subject to Section 5.4, so long as shares of Class B Stock are outstanding,
no Class B Stockholder shall sell, assign, transfer, give, encumber, pledge or in any other way dispose of Class B Stock (any such act is referred to herein as a “Transfer”), except as provided in this Agreement. Subject to
the terms of this Agreement, the Class B Stockholders shall be entitled to exercise all rights of ownership of their Class B Stock. 
 Section 5.4 Expressly Permitted Transfers. 
 (a) Notwithstanding anything
to the contrary in Section 5.3, a Class B Stockholder may Transfer any of its shares of Class B Stock or any interest therein (A) to a trust the beneficiary of which is such holder’s spouse, parents, members of his immediate
family or his lineal descendants, or (B) to any other person provided that Team has consented in writing to such Transfer, which consent can be withheld at the sole discretion of Team (any such transferee pursuant to this
Section 5.4(a) shall be referred to herein as a “Permitted Transferee”). Any Transfer made pursuant to this Section 5.4(a) shall be effective only if such Permitted Transferee shall agree in writing to
be bound by the terms and conditions of this Agreement. 
 (b) In the event a Transfer of any shares of Class B Stock has taken
place in violation of the provisions of this Agreement, such Transfer shall be void and of no effect, and no distribution or any kind shall be paid by the Company or Team to the transferee in respect of such shares of Class B Stock (all such
dividends and distributions being deemed waived), and the voting rights of such shares of Class B Stock on any matter whatsoever shall remain vested in the transferor. 
 Section 5.5 Stock Legend. The stock certificates representing the Class B Stock shall contain the following legend, in addition to any other legends deemed appropriate or necessary by the Company:

 THIS CERTIFICATE IS TRANSFERABLE ONLY UPON (I) COMPLIANCE WITH AND SUBJECT TO THE PROVISIONS OF THE PUT/CALL OPTION
AGREEMENT DATED AS OF NOVEMBER 1, 2010, BY AND AMONG TEAM, INC. AND THE STOCKHOLDERS SIGNATORIES THERETO, AND (II) THE PRIOR WRITTEN APPROVAL OF THE COMPANY. ANY TRANSFER WITHOUT SUCH COMPLIANCE AND APPROVAL SHALL BE

  
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VOID AND OF NO EFFECT. A COPY OF THE PUT/CALL OPTION AGREEMENT IS ON FILE IN THE OFFICE OF THE SECRETARY OF THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS. THE COMPANY WILL FURNISH A COPY OF SUCH
AGREEMENT TO THE RECORD HOLDER OF THIS CERTIFICATE, WITHOUT CHARGE, UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS OR REGISTERED OFFICE. 
 THE SHARE REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED WITHOUT SUCH
REGISTRATION UNLESS A VALID EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE AND THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO ITS COUNSEL THAT SUCH TRANSFER WOULD NOT VIOLATE ANY FEDERAL OR STATE SECURITIES LAW. 

Section 5.6 Purchase and Sale of Class B Stock Upon Death, Bankruptcy or Involuntary Transfer. In the event a Class B Stockholder
(i) dies, (ii) voluntarily or involuntarily files for bankruptcy in any court of competent jurisdiction, or (iii) has its shares of Class B Stock Transferred by operation of law or otherwise involuntarily, unless provided to the
contrary in a separate agreement between Team and such Class B Stockholder, upon written notice to such Class B Stockholder, Team shall have the continuing option to exercise its Call Option with respect to the shares of Class B Stock beneficially
owned by such Class B Stockholder in accordance with Article 2 hereto. 
 Section 5.7 No Shares with Conflicting
Rights. Prior to the exercise of the Put Option or Call Option as contemplated in this Agreement, Team will not permit the Company nor any member of the Quest Group to authorize, create, issue or sell any class of capital stock with rights as to
repurchase or conversion, which are superior or equal to the rights of the Class B Stock. 
 ARTICLE VI 

MISCELLANEOUS 

Section 6.1 Further Assurances. The Parties agree (a) to furnish upon request to each other such further information,
(b) to execute and deliver to each other such other documents, and (c) to do such other acts and things, all as the other Party may reasonably request for the purpose of carrying out the intent of this Agreement and the documents referred
to in this Agreement. 
 Section 6.2 Amendments and Waivers. No amendment or waiver of any provision of this Agreement
shall be valid unless in writing and signed by the Party to be charged with such amendment or waiver. No waiver by any Party of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed
to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. 

  
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 Section 6.3
Notices. All notices permitted or required to be given pursuant to this Agreement shall be given (and will be deemed to have been duly given, if given) by hand delivery, courier service, facsimile, email, or mailed by registered or certified
mail, postage prepaid, return receipt requested: 
 If to the Class B Stockholders: 

Milton J. Altenberg 
 1012 Central Avenue South 
 Kent, Washington 98032 

Facsimile: (253) 872-8967 
 Email Address: Altenberg1@cs.com 
 and: 

Jeffrey L. Ott 

8 Mariposa Court 

Tiburon, California 94920 
 Facsimile: (415) 789-5413 
 Email Address: j.ott@questintegrity.com

 If to Team: 
 200 Hermann Drive 
 Alvin, Texas 77512-0123 

Facsimile: (281) 388-5583 
 Email Address: Butch.Bouchard@TeamInc.com 
 Attention: Butch Bouchard 

Notice given by personal delivery, courier service or mail shall be effective upon actual receipt. Notice given by facsimile shall be confirmed by
appropriate answer back and shall be effective upon actual receipt if receipt is received during the recipient’s normal business hours, or at the beginning of the recipient’s next Business Day after if not received during the
recipient’s normal business hours. Any party may change any address to which notice is to be given to it by giving notice as provided above of such change of address. 
 Section 6.4 Entire Agreement. This Agreement supersedes all prior agreements between the Parties with respect to its subject matter and constitutes (along with the documents referred to in this
Agreement) a complete and exclusive statement of the terms of the agreement between the Parties with respect to its subject matter. 
 Section 6.5 Assignments, Successors, and No Third-Party Rights. No Party may assign any of its rights under this Agreement without the prior consent of the other Parties, which

  
 12 

 
will not be unreasonably withheld. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon, and inure to the benefit of the successors and permitted
assigns of the Parties. Nothing expressed or referred to in this Agreement will be construed to give any person or entity other than the Parties to this Agreement any legal or equitable right, remedy or claim under or with respect to this Agreement
or any provision of this Agreement. 
 Section 6.6 CONSENT TO JURISDICTION. ALL ACTIONS HEREUNDER MUST BE BROUGHT IN THE
FEDERAL COURTS IN AND FOR THE SOUTHERN DISTRICT OF TEXAS WITHOUT REGARD TO ANY PRESENT OR FUTURE DOMICILE OR PRINCIPAL PLACE OF BUSINESS OF THE PARTIES. IF SUCH COURTS DO NOT HAVE JURISDICTION FOR ANY REASON, THEN ALL ACTIONS HEREUNDER MUST BE
BROUGHT IN THE STATE COURTS LOCATED IN HARRIS COUNTY, TEXAS. BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY IRREVOCABLY SUBMITS TO THE JURISDICTION OF SUCH COURTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY WITH RESPECT TO SUCH ACTION. THE
PARTIES IRREVOCABLY AGREE THAT VENUE WOULD BE PROPER IN SUCH COURTS, AND HEREBY WAIVE ANY OBJECTION THAT SUCH COURT IS AN IMPROPER OR INCONVENIENT FORUM FOR THE RESOLUTION OF SUCH ACTION. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE THE RIGHT TO
TRIAL BY JURY IN ANY ACTION TO ENFORCE OR INTERPRET THE PROVISIONS OF THIS AGREEMENT. 
 Section 6.7 Governing Law. This
Agreement and the performance of the Transactions and obligations of the Parties hereunder will be governed by and construed in accordance with the laws of the State of Texas, without giving effect to any choice of Law principles. 

Section 6.8 Severability. Any term of this Agreement which would be invalid or unenforceable as written shall be deemed limited in
scope and/or duration to the extent necessary to render it enforceable. The determination of any court that any provision is invalid or unenforceable shall not affect the validity or enforceability of the remaining terms and provisions hereof or the
validity of the offending term or provision in any other situation or in any other jurisdiction. 
 Section 6.9
Construction. Wherever the context so permits, the use of words in this Agreement in the masculine, feminine or neuter gender shall be construed to include all of such genders. All references to articles, sections, subsections, or
subparagraphs are to provisions of this Agreement unless the context dictates otherwise. 
 Section 6.10 Successors. All
of the terms, agreements, covenants and conditions of this Agreement are binding upon, and inure to the benefit of and are enforceable by, the Parties and their respective successors. If a Company Member is an entity and if the principal business,
operations or a majority or substantial portion of the assets of such Company Member are assigned, conveyed, allocated or otherwise transferred, including by sale, merger, consolidation, amalgamation, conversion or similar transactions, such
receiving person or entity shall automatically become bound by and subject to the provisions of this Agreement, and such Company Member shall cause the receiving person or entity to expressly assume its obligations hereunder. 

  
 13 

  
 Section 6.11
Delivery by PDF and Facsimile. This Agreement and any other Transaction Document, and any amendments hereto or thereto, to the extent signed and delivered by means of portable document format (“PDF”) or a facsimile
machine, shall be treated in all manner and respects as an original Contract and shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. At the request of any Party hereto or
to any such Contract, each other Party hereto or thereto shall re-execute original forms thereof and deliver them to all other Parties. No Party hereto or to any such Contract shall raise the use of PDF or a facsimile machine to deliver a signature
or the fact that any signature or Contract was transmitted or communicated through the use of PDF or a facsimile machine as a defense to the formation of a Contract and each such Party forever waives any such defense. 

[Signature Pages Follow] 

  
 14 

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

			
	TEAM, INC.
		
	By:	 	  

		 	Andre C. Bouchard
		 	Senior Vice President, General Counsel & Secretary

 

			
	CLASS B STOCKHOLDER
	
	  

	Printed Name:	 	  

  
 15 

  
 EXHIBIT B

 EXERCISE NOTICE 
 If exercise of Put Option: 
 NOTICE OF EXERCISE OF PUT OPTION 

To Team, Inc.: 
 Date:
                     

The undersigned Class B Stockholder Representative hereby irrevocably exercises its option to cause the Company to purchase 5,050 shares
of Class B Common Stock of TQ Acquisition, Inc. beneficially held by the Class B Stockholders for unregistered shares of the common stock, par value $0.30 per share, of Team, Inc., in accordance with Article III of the Put/Call Option Agreement
dated                     , 2010. 
  

			
	Class B Stockholder Representative:
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 16 

  
 If exercise of Call Option:

 NOTICE OF EXERCISE OF CALL OPTION 
 To              
 Date:
                     

Team, Inc., a Texas corporation, hereby irrevocably gives notice to
                     (the “Class B Stockholder Representative”) of the exercise of its option to purchase 5,050 shares of Class B
Common Stock of TQ Acquisition, Inc., a Texas corporation, for unregistered shares of the common stock, par value $0.30 per share, of Team, Inc., in accordance with Article II of the Put/Call Option Agreement dated
                    , 2010. 
  

			
	TEAM, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 17Guaranty made by KG Holding, LLC

  
 EXHIBIT 10.2

 GUARANTY 
 This GUARANTY, dated as of November 2, 2010 (this “Guaranty”), is made by KG Holding, LLC, a limited liability company organized under the Laws of Delaware
(“Guarantor”) for the benefit of Team, Inc., a corporation organized under the Laws of Texas (“Beneficiary”). 
 RECITALS 
 WHEREAS, Beneficiary has required, pursuant to
Section 1.4(a)(ix) of the Membership Interest Purchase Agreement (as such may be amended or modified from time to time, the “MPA”), dated as of November 2, 2010, by and among Beneficiary, TQ Acquisition, Inc., Quest
Integrity Group, LLC, John Zink Holdings, Inc., a corporation organized under the Laws of Texas (the “Obligor”), Ring Mountain Capital, LLC, a California limited liability company, Quest Integrated, Inc., a Washington
corporation, Alexius Group II, LLC., a Delaware limited liability company, Milton J. Altenberg, and Todd Katz, as an inducement to enter into such MPA, that Guarantor deliver this Guaranty; 

WHEREAS, Guarantor is the owner of the Obligor and consummation of the transactions contemplated pursuant to the MPA will directly and
materially benefit Guarantor; 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and
valuable consideration, including the covenants of Beneficiary and the benefits received by Obligor under the MPA, the receipt and sufficiency of which are hereby acknowledged, Guarantor and Beneficiary agree as follows: 

ARTICLE I 

DEFINITIONS AND CONSTRUCTION 
 Section 1.1 Definitions 
 All capitalized terms used but not defined herein shall have
the meanings set forth for such terms in the MPA. 
 ARTICLE II 

GUARANTY 

Section 2.1 Guaranty 

Subject to Section 2.7 hereof and solely to the extent demand for payment is made by Beneficiary under Section 2.5 hereof,
Guarantor hereby irrevocably, absolutely, fully and unconditionally guarantees to Beneficiary and its permitted successors and assigns the prompt and complete payment when and as due of the Obligor’s unfulfilled payment obligations under
Section 5.2 of the MPA in accordance with, and subject to, the limitations and other provisions set forth in the MPA (the “Guaranteed Obligations”). 

  
 1 

  
 Section 2.2 No
Release or Discharge 
 Subject to the limitations in Section 2.1 hereof, this Guaranty is a primary obligation of Guarantor and
shall be an irrevocable, absolute, full and unconditional guaranty, irrespective of: 
 (a) any modification,
amplification, amendment, supplement, renewal or waiver of the MPA or any of the terms or conditions of the MPA; 

(b) any postponement or extension of the date on which any payment must be made pursuant to the MPA or postponement or
extension of the date on which any act must be performed by the Obligor thereunder; 
 (c) any change in the
organization or structure of Beneficiary or any of its Affiliates; and 
 (d) any other circumstances which might
otherwise constitute a legal or equitable discharge or defense of a guarantor, including any termination of or change in corporate existence, structure or ownership of the Obligor or Guarantor, or any insolvency, bankruptcy, reorganization or other
similar proceeding affecting the Obligor or its assets; 
 all without notice to or assent by Guarantor, who shall remain bound by this
Guaranty, which shall remain in full force and effect until all of the Guaranteed Obligations have been indefeasibly paid, notwithstanding any such event or circumstance or any such act by Beneficiary. 

Section 2.3 Waiver of Rights 
 Subject to the limitations expressly set forth in this Guaranty, Guarantor understands and agrees that the guaranty contained in Section 2.1 hereof shall be a irrevocable, absolute, full and
unconditional guaranty, irrespective of any circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor. Guarantor hereby expressly waives diligence, presentment, protest and all notices
whatsoever (other than the notice contemplated by Section 2.5 hereof) and any requirement that Beneficiary exhaust any right, power or remedy or proceed against the Obligor under the MPA or any other agreement or instrument referred to
herein or therein. Without limiting Guarantor’s own defenses and rights hereunder, Guarantor reserves to itself all rights, setoffs, counterclaims and other defenses that the Obligor may have to payment of all or any portion of the Guaranteed
Obligations except any legal or equitable discharge or defense arising from bankruptcy, insolvency, dissolution or liquidation of the Obligor and other defenses expressly waived in this Guaranty. 

Section 2.4 Postponement of Subrogation 
 Guarantor shall be subrogated to all rights of Beneficiary against the Obligor in respect of any amounts paid by such Guarantor pursuant to this Guaranty; provided, however, that Guarantor hereby
postpones all rights of subrogation, reimbursement, indemnity and recourse (including any statutory rights of subrogation under Section 509 of the Bankruptcy Code, 11 U.S.C. § 509, or otherwise) until such time as the Guaranteed
Obligations are paid or otherwise satisfied in full. 

  
 2 

 
If (a) Guarantor makes payment to Beneficiary of all or any part of the Guaranteed Obligations and (b) all of the then outstanding Guaranteed Obligations shall have been paid or
otherwise satisfied in full, Beneficiary shall, at Guarantor’s request, execute and deliver to Guarantor documents to evidence the transfer by subrogation to Guarantor of any interest in the Guaranteed Obligations resulting from such payment by
Guarantor. 
 Section 2.5 Notice of Default 
 Beneficiary will provide written notice in compliance with Section 4.1 hereof to Guarantor if the Obligor defaults in any of its obligations under the MPA and such default may trigger the
obligations of Guarantor under this Guaranty describing in reasonable detail the default thereunder and the payment requested, or the amount of any claims made, by Beneficiary under this Guaranty with respect to such default. 

Section 2.6 Guaranty of Payment and Not Collection 
 This is a guaranty of payment when and as due and not merely of collection. 

Section 2.7 Reinstatement 
 If any of the Guaranteed Obligations have been paid by Guarantor but such payment is forfeited, reclaimed or otherwise repaid pursuant to bankruptcy, insolvency or similar Laws, then claims for such
amount as was so forfeited, reclaimed or otherwise repaid shall be revived and continue as if such payment or proceeds had not been received by Beneficiary from Guarantor under this Guaranty. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 Section 3.1 Representations and Warranties of Guarantor 
 Guarantor represents and
warrants as follows: 
 (a) Guarantor is a limited liability company, incorporated, existing and in good standing under the Laws
of Delaware. 
 (b) Guarantor has all requisite organizational power and authority to execute and deliver this Guaranty and to
perform all obligations to be performed by it hereunder. The execution and delivery of this Guaranty and the consummation of the transactions contemplated hereby have been duly and validly authorized and approved by all requisite action on the part
of Guarantor. This Guaranty has been duly and validly executed and delivered by Guarantor and constitutes a valid and binding obligation of it, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity. 

(c) None of the execution and delivery by Guarantor of this Guaranty, or the performance of its obligations hereunder will
(i) conflict with, or result in any violation of, any provision of (A) the Organizational Documents of Guarantor or (B) any applicable Law or (ii)

  
 3 

 
conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under, any material
Contract to which it is a party or by which its properties or assets are bound, or result in the creation of any Lien upon any of its properties or assets or constitute an event which, after notice or lapse of time or both, would result in any such
breach, termination or creation of a Lien upon any of its properties or assets. 
 ARTICLE IV 

MISCELLANEOUS 
 Section 4.1 Notices 
 All notices and other communications under this Guaranty shall be
in writing and shall be deemed given (a) when delivered personally by hand (with written confirmation of receipt), (b) when sent by facsimile (with written confirmation of transmission) or (c) one (1) Business Day after the day
sent by overnight courier (with written confirmation of receipt), in each case at the following addresses and facsimile numbers (or to such other address or facsimile number as a party may have specified by notice given to the other party pursuant
to this provision): 
  

	 	(a)	If to Beneficiary, to: 

 Team,
Inc. 
 200 Hermann Drive 
 Alvin, Texas 77512-0123 
 Attn: General Counsel 

Telecopy: 281-388-5583 
 With a copy (which shall not constitute notice) to: 
 Locke Lord Bissell &
Liddell LLP 
 600 Travis Street, Suite 2800 
 Houston, Texas 77002 
 Attention: David F. Taylor 

Telecopy: 713-223-3717 
  

	 	(b)	If to Guarantor, to: 

 KG
Holding, LLC 
 4111 East 37th Street North 
 Wichita, Kansas 67220 
 Attention: Chief Financial Officer 

Telecopy: 316-828-8171 
 With a copy to: 
 Koch Companies Public Sector, LLC 

4111 East 37th Street North 
 Wichita, Kansas 67220 
 Attention: Associate General Counsel – Corporate and
Commercial 
 Telecopy: 316-828-8866 

  
 4 

  
 Section 4.2
Assignment 
 No assignment of this Guaranty or of any rights or obligations hereunder may be made by either Guarantor or Beneficiary,
directly or indirectly (by operation of Law or otherwise), without the prior written consent of the other party hereto and any attempted assignment without such required consent shall be null and void and without any legal effect. This Guaranty
shall be binding upon and inure to the benefit of the parties and their respective permitted successors and assigns. 

Section 4.3 Rights of Third Parties 
 Nothing expressed or implied in this Guaranty shall create or be deemed to create any third party beneficiary rights in any person or entity not a party to this Guaranty. 

Section 4.4 Entire Agreement 
 This Guaranty constitutes the entire agreement between Guarantor and Beneficiary and supersedes any other agreements, whether written or oral, that may have been made or entered into by or between
Guarantor and Beneficiary or any of their respective Affiliates relating to the matters addressed by this Guaranty. No representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the matters addressed by this
Guaranty exist between Guarantor and Beneficiary or any of their respective Affiliates except as expressly set forth in this Guaranty. 
 Section 4.5 Counterparts 
 This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any facsimile copies hereof or signature hereon shall, for all purposes, be deemed originals. 

Section 4.6 Amendments 
 This Guaranty may be amended or modified in whole or in part, and terms and conditions may be waived, only by a duly authorized agreement in writing executed by Guarantor and Beneficiary which makes
reference to this Guaranty. 
 Section 4.7 Severability 
 If any provision of this Guaranty is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Guaranty shall remain in full force and effect. Guarantor and
Beneficiary further agree that if any provision contained herein is, to any extent, held invalid or unenforceable in any respect under the Laws governing this Guaranty, Guarantor and Beneficiary shall take any actions necessary to render the
remaining provisions of this Guaranty valid and enforceable to the fullest extent permitted by Law and, to the extent necessary, shall amend or otherwise modify this Guaranty to replace any provision contained herein that is held invalid or
unenforceable with a valid and enforceable provision giving effect to the intent of Guarantor and Beneficiary to the greatest extent legally permissible. 

  
 5 

  
 Section 4.8
Governing Law; Jurisdiction; Waiver of Jury Trial 
 (a) This Guaranty shall be governed by and construed in accordance with
the Laws of the State of Delaware without regard to the Laws of the State of Delaware or any other jurisdiction that would call for the application of the substantive laws of any jurisdiction other than Delaware. This Agreement is entered into in
express reliance by the Parties on Section 2708 of Title 6 of the Delaware Code. 
 (b) Guarantor and Beneficiary agree
that the appropriate, exclusive and convenient forum (the “Forum”) for any disputes between either Guarantor and Beneficiary arising out of this Guaranty or the matters addressed by this Guaranty shall be in the Court of
Chancery in the City of Wilmington, New Castle County, Delaware, except where such court lacks subject matter jurisdiction. In such event, the Forum shall be in the federal district court sitting in Wilmington, Delaware or, in the event such federal
district court lacks subject matter jurisdiction, then in the Superior Court in the City of Wilmington, New Castle County, Delaware. Guarantor and Beneficiary irrevocably submit to the jurisdiction of such courts solely in respect of any disputes
arising out of or related to this Guaranty or the matters addressed by this Guaranty. Guarantor and Beneficiary further agree that they shall not bring suit with respect to any disputes arising out of or related to this Guaranty or the matters
addressed by this Guaranty in any court or jurisdiction other than the above specified courts; provided, however, that the foregoing shall not limit the rights of Guarantor or Beneficiary to obtain execution of judgment in any other
jurisdiction. Guarantor and Beneficiary further agree, to the extent permitted by Law, that a final and unappealable judgment against any of them in any action or proceeding contemplated above shall be conclusive and may be enforced in any other
jurisdiction within or outside the United States by suit on the judgment, a certified or exemplified copy of which shall be conclusive evidence of the fact and amount of such judgment. 

(c) To the extent that Guarantor or Beneficiary has or hereafter may acquire any immunity from jurisdiction of any court or from any
legal process (whether through service or notice, attachment prior judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, each such party hereby irrevocably (i) waives such immunity in respect
of its obligations with respect to this Guaranty and (ii) submits to the personal jurisdiction of each court described in Section 4.8(b). 
 (d) THE PARTIES HERETO AGREE THAT THEY HEREBY IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY DISPUTES BETWEEN ANY OF THE PARTIES HERETO ARISING OUT OF ALL RELATED TO THIS GUARANTY OR THE MATTERS
ADDRESSED BY THIS GUARANTY. 
 [signature page follows] 

  
 6 

  
 IN WITNESS WHEREOF,
this Guaranty has been duly executed and delivered by Guarantor and the Beneficiary as of the date first above written. 
  

			
	KG HOLDING, LLC
		
	By:	 	 /s/ Matthew Flamini

	Name:	 	 Matthew Flamini

	Title:	 	 Attorney-in-Fact

	
	TEAM, INC.
		
	By:	 	 /s/ André C. Bouchard

		 	André C. Bouchard
		 	Senior Vice President, General Counsel & Secretary

 SIGNATURE PAGE 
 SELLER
PARENT GUARANTY 

  
 7

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