Leadership & Pay ·
Team Inc. Board approves amendment to executive severance policy capping change-in-control benefits at 24 months
TISITeam Inc
The Board of Directors of Team, Inc. approved an amendment to its Corporate Executive Officer Compensation and Benefits Continuation Policy to reduce benefits payable during a qualifying termination related to a change in control. Specifically, supplemental salary payments and supplemental compensation for forgone annual bonuses will now be capped at a 24-month period. Team, Inc. operates in the industrial distribution and services sector through its various brands.