CONFIDENTIAL SEVERANCE AGREEMENT AND RELEASE (with Agreement of Non- Solicitation and Non-Competition)betweenTeam Industrial Services, Inc. and Jeff OttSeverance Agreement • May 11th, 2021 • Team Inc • Services-miscellaneous repair services • Texas
Jeffrey L. Ott is a resident of Montana and has been an employee working for Team Industrial Services, Inc. In this Agreement, “Employee” means Jeffrey L. Ott and “Team” means Team Industrial Services, Inc. The Company Group includes Team Industrial Services, Inc., Team, Inc., Quest Integrity Group, LLC and all of their parent, affiliated entities and predecessor and successor entities. Employee has received this Severance Agreement and Release (the “Agreement”) on May 6, 2021, and the last day of Employee’s employment is the earlier of: June 30, 2021, or the date of Employee’s termination of employment if terminated earlier pursuant to Section 3.06 (the “Last Day of Employment”). Employee’s employment is terminated without cause, as of the Last Day of Employment, and Employee resigns, to the extent applicable, from all director and officer positions with Team, and all of Team’s affiliated entities effective January 18, 2021 (or later as determined by Team) and Employee agrees to take
