TISI · Current Report (Form 8-K) · Filed August 11, 2026

Team Inc — 8-K exhibit

d55393dex102.htm

Team Inc on Boardroom Alpha

EX-10.2

Exhibit 10.2

August 6, 2026

Team, Inc.

13131 Dairy Ashford Rd., Suite 600

Sugar Land, TX 77478

Attention: Butch Bouchard

We refer to that certain Board Rights Agreement dated as of June 16, 2023, by and among Team, Inc., a Delaware corporation, Corre Partners Management, LLC and the “Corre Holders” as defined therein (as amended from time to time, the “Board Rights Agreement”). Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Board Rights Agreement.

On behalf of the undersigned, the Corre Holders and their respective affiliates, we hereby irrevocably waive, relinquish and disclaim (i) the rights of the Investors provided by Section 2.1 (Board Observation Rights) of the Board Rights Agreement in their entirety, (ii) the rights of the Investors provided by Section 2.2 (Board Nomination Rights) of the Board Rights Agreement with respect to the Investor Equity Directors, including the right to designate the Chairman of the Board, and (iii) any and all other rights of the Investors, other than the rights of the Investors with respect to the Lender Director (all of which shall remain in full force and effect), in each case effective as of the date hereof.


Very truly yours,

CORRE PARTNERS MANAGEMENT, LLC

By:		/s/ John Barrett
Name: John Barrett
Title: Managing Member

Copy by email to:

Kirkland & Ellis LLP

609 Main St.

Houston, TX 77002

Attention: Christopher T. Greco; Matthew R. Pacey; Bryan D. Flannery

Email:

christopher.greco@kirkland.com; matt. pacey@kirkland.com;

bryan.flannery@kirkland.com

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.

Full disclaimer