AI Content Chat (Beta) logo

TEAM, INC. RESTRICTED STOCK UNIT AWARD AGREEMENT for Stock Units awarded under the Team, Inc. 2018 Equity Incentive Plan This Restricted Stock Unit Award Agreement (the "Agreement”) is entered into between Team, Inc. (the "Company”) and the individual employee of a subsidiary or affiliate of the Company who received a StockPlan Connect notification from Morgan Stanley Smith Barney LLC and the Company (the "Participant”), upon the date of the Participant’s electronic grant acceptance of a restricted stock unit award (the "Award Certificate”), which is incorporated herein by reference. It is understood by the individual employee that acceptance of the Award Certificate is an acceptance of this Agreement which includes the attached Exhibit A (Protected Information, Inventions, and Non-Solicitation Agreement with Non-Compete including its Appendix). 1. Restricted Stock Unit Award. On the Date of Grant specified on the Award Certificate, the Company has awarded to the Participant, a certain number of Restricted Stock Units as provided in the Award Certificate (this "Award”), which represents an unfunded, unsecured promise by the Company to deliver common shares of the Company ("Shares”) pursuant to the vesting schedule on the Participant’s Award Certificate. This Restricted Stock Unit has been granted under the Team, Inc. 2018 Equity Incentive Plan (as amended and/or restated, the "Plan”) and will include and be subject to all provisions of the Plan, which are incorporated herein by reference, and will be subject to the provisions of this Agreement. Capitalized terms used in this Agreement which are not specifically defined will have the meanings defined under the Plan. In the event of any conflict between the terms of the Plan and the terms of this Agreement, the terms of the Plan shall control. Notwithstanding any other provision of this Agreement, this Award Certificate shall be forfeited if the Participant does not accept the grant of the Award Certificate on or before the last day of the calendar month that occurs six (6) months following the calendar month in which the Award Certificate was granted. 2. Terms and Conditions. (A) Vesting Date. Subject to the conditions set forth in the Plan and this Agreement, the Restricted Stock Units issued to the Participant will vest on the Vesting Dates (as defined below) listed in the Award Certificate. (B) Settlement of Units. Except as provided in Subsection (C) below, the Company will issue one Share to the Participant on the date each Restricted Stock Unit is scheduled to become vested under the terms of the Award Certificate ("Vesting Date”). As a ministerial matter, the Company shall cause the issuance and delivery of Shares to the Participant as soon as practicable after each designated Vesting Date and in any event within twenty (20) business days after such designated Vesting Date; provided, however, that such delivery shall be deemed effected for all purposes when a stock transfer agent shall have deposited such Shares according to the delivery instructions; and provided further that if any law, regulation or order of the Securities and Exchange Commission (the "Commission”) or other body having jurisdiction shall require the Company or the Participant to take any action in connection with the delivery of the Shares, then, subject to the other provisions of this Section, the date on which such delivery shall be deemed to have occurred shall be extended for the period necessary to take and complete

Form 10-K - Page 91 Form 10-K Page 90 Page 92