LETTER AGREEMENT FOR CONSULTING SERVICESTeam Inc • November 28th, 2018 • Services-miscellaneous repair services • Texas
This letter agreement for consulting services (“Consulting Agreement”) shall set forth the terms of our understanding in connection with the consulting services to be provided by you (“Consultant”) to Team, Inc. (the “Company”). This Agreement shall be binding on any successor to the Company, including in the event of a Change of Control. The Company values Consultant’s availability for consulting services because of his unique knowledge, gained from his work as Chief Financial Officer, of the Company, its operations, and its business. In light of Consultant’s unique knowledge, the Company derives value commensurate with the fees provided in this Agreement from Consultant’s availability to provide consulting services, regardless of whether the Company actually requests Consultant’s consulting services at any particular time.
transition, SEVERANCE, and release AGREEMENT WITH REAFFIRMATION OBLIGATIONS (with Agreement of Non-Solicitation and Non-Competition and Special Vesting Agreement) Between Team, Inc. and Greg L. BoaneTransition, Severance, and Release Agreement • November 28th, 2018 • Team Inc • Services-miscellaneous repair services • Texas
Greg L. Boane is a resident of Texas and has been an employee working for Team, Inc. In this Agreement, “Employee” means Greg L. Boane, and “Team” means Team, Inc., Team Industrial Services, Inc. and its affiliated entities and predecessor and successor entities. Employee has received this Transition, Severance, and Release Agreement with Reaffirmation Obligations (the “Agreement”) on November 26, 2018, and the last day of Employee’s employment will be February 28, 2019 (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 Team, Inc. Corporate Executive Officer Compensation and Benefits Continuation Policy, as amended (the “Severance Policy”). Reference is made to the Letter Agree
