Team Inc cuts executive change-in-control severance, caps supplemental salary at 24 months

Filed July 10, 2026 · Period ending July 7, 2026 · ~1 min read

Key Changes

• medium

  Board reduced severance benefits for executives terminated following a change in control, capping supplemental salary payments at 24 months down from longer periods previously allowed.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• medium

  Amendment lowers the company's potential cash payout obligations if executives are terminated after an acquisition or similar transaction.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• low

  Bonus severance for change-in-control terminations will be calculated as the higher of most recent actual bonus or two-year average, with new executives receiving target bonus.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →