1 EXHIBIT 2.2 FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT THIS FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT ("Amendment") is entered into on July 29, 1998, by and among TEAM, INC., a Texas corporation ("Team"), R. LEROY AND PAULA BENHAM, both of whom are individual residents of the State of Oregon (the "Benhams"), THE CLIMAX PORTABLE MACHINE TOOLS, INC. EMPLOYEE STOCK OWNERSHIP PLAN TRUST (the "ESOP"), which is a qualified plan under Section 401(a) of the Code and an exempt trust under Section 501(a) of the Code, PHILLIP R. EDIN, TRUSTEE OF THE PHILLIP EDIN LIVING TRUST u/t/a DATED NOVEMBER 25, 1996, a trust created under the laws of the State of Oregon (the "Edin Trust"), and TERRY W. WEIGEL, an individual resident of the State of Oregon ("Weigel"). INTRODUCTION The Parties entered into that certain Stock Purchase Agreement, dated as of July 3, 1998 (the "Agreement"), which the Parties now desire to amend as described below. Capitalized terms not otherwise defined in this Amendment shall have the meanings given to them in the Agreement. Now, therefore, in consideration of the premises and the mutual promises herein made, and for other good and valuable consideration, the Parties agree as follows. AGREEMENT The Parties agree that the Delivery Date (as set forth in Section 4 of the Agreement) shall be Wednesday, August 5, 1998. All other terms and provisions of the Agreement shall continue in full force and effect, unaffected by this Amendment. IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date first above written. TEAM: TEAM, INC. By: /s/ KENNETH M. THOLAN ----------------------------------- Kenneth M. Tholan, President 2 THE BENHAMS: /s/ R. LEROY BENHAM -------------------------------------- R. LeRoy Benham PAULA BENHAM -------------------------------------- Paula Benham THE ESOP: CLIMAX PORTABLE MACHINE TOOLS, INC. EMPLOYEE STOCK OWNERSHIP PLAN TRUST By: /s/ PHILLIP R. EDIN ----------------------------------- Phillip R. Edin, Trustee By: /s/ TERRY W. WEIGEL ----------------------------------- Terry W. Weigel, Trustee By: /s/ R. LEROY BENHAM ----------------------------------- R. LeRoy Benham, Trustee THE EDIN TRUST: The Phillip Edin Living Trust By: /s/ PHILLIP R. EDIN ----------------------------------- Phillip R. Edin, Sole Trustee 2 3 WEIGEL: /s/ TERRY W. WEIGEL -------------------------------------- Terry W. Weigel 3