TRANSITION, SEVERANCE, AND RELEASE AGREEMENT WITH REAFFIRMATION OBLIGATIONS(with Agreement of Non-Solicitation and Non-Competition and Special Vesting Agreement)BetweenTeam, Inc. and Arthur F. VictorsonSeverance Agreement • July 3rd, 2018 • Team Inc • Services-miscellaneous repair services • Texas
Arthur F. Victorson is a resident of Indiana and has been an employee working for Team, Inc. In this Agreement, “Employee” means Arthur F. Victorson, and “Team” means Team, Inc. and its affiliated entities and predecessor and successor entities. Employee has received this Severance Agreement and Release (the “Agreement”) on July 2, 2018, and the last day of Employee’s employment will be September 30, 2018 (the “Last Day of Employment”). The purpose of this Agreement is to state the conditions of Employee’s termination without cause and to resolve any employment-related issues that exist or might exist between Employee and Team. This Agreement is presented to Employee for Employee to sign as a condition to Employee’s receipt of certain benefits as set forth in the Retention Benefits Agreement between Employee and Team (the “Retention Agreement”) and the Team, Inc. Corporate Executive Officer Compensation and Benefits Continuation Policy (as amended, August 17, 2016) (the “Severance Poli
