8-K 1 a4924279.txt TEAM INC. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) of THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported: June 30, 2005) TEAM, Inc. ------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) Texas 0-9950 74-1765729 ---------- ---------- -------------- (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) Identification No.) 200 Hermann Drive Alvin, Texas 77511 (Address of principal executive offices and zip code) Registrant's telephone number, including area code (281) 331-6154 -------------------------------------------------------------------------------- ITEM 8.01 - OTHER EVENTS In a meeting held on June 30, 2005, the Board of Directors of Team, Inc. voted to increase the compensation of any Board member who serves as the Chair of the Audit Committee of the Board by the amount of $10,000 per year. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TEAM, INC. By: /s/ Gregory T. Sangalis -------------------------- Gregory T. Sangalis Senior Vice President - Law & Administration Date: July 5, 2005