<SUBMISSION>
<ACCESSION-NUMBER>0000950129-01-503475
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20001231
<FILING-DATE>20011015
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>TEAM INC
<CIK>0000318833
<ASSIGNED-SIC>7600
<IRS-NUMBER>741765729
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>0531
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>11-K
<ACT>34
<FILE-NUMBER>001-08604
<FILM-NUMBER>1758899
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>200 HERMANN DRIVE
<CITY>ALVIN
<STATE>TX
<ZIP>77056
<PHONE>2813316154
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1019 SOUTH HOOD STREET
<CITY>ALVIN
<STATE>TX
<ZIP>77551
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>h91310e11-k.txt
<DESCRIPTION>TEAM, INC. - SALARY DEFERRAL PLAN AND TRUST
<TEXT>
<PAGE>
                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington D.C. 20549

                                    FORM 11-K

                                   (Mark One)

          [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2000

                                       OR

     [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
                 EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

       For the transition period from ................ to ................

                          Commission file number 1-9950

A.       Full title of the plan and the address of the plan, if different from
         that of the issuer named below:

         Team, Inc. Salary Deferral Plan and Trust

B.       Name of issuer of the securities held pursuant to the plan and the
         address of its principal executive office:

         Team, Inc.
         200 Herman Dr.
         Alvin, Texas  77511
         (281) 331-6154



<PAGE>


     TEAM, INC. SALARY DEFERRAL
     PLAN AND TRUST

     Financial Statements As of December 31, 2000
     and 1999 and for the Year Ended December 31,
     2000, and Supplemental Schedule As of and for
     the Year Ended December 31, 2000, and
     Independent Auditors' Report

<PAGE>



TEAM, INC. SALARY DEFERRAL PLAN AND TRUST

TABLE OF CONTENTS
--------------------------------------------------------------------------------

                                                                           PAGE

INDEPENDENT AUDITORS' REPORT                                                 1

FINANCIAL STATEMENTS:

  Statements of Net Assets Available for Benefits, December 31, 2000
    and 1999                                                                 2

  Statement of Changes in Net Assets Available for Benefits for the
    Year Ended December 31, 2000                                             3

  Notes to Financial Statements                                              4

SUPPLEMENTAL SCHEDULE -

  Form 5500, Schedule H, Line 4i - Schedule of Assets (Held At
    End of Year)                                                             9



<PAGE>


INDEPENDENT AUDITORS' REPORT

To the Administrative Committee of
   Team, Inc. Salary Deferral Plan and Trust
Houston, Texas

We have audited the accompanying statements of net assets available for plan
benefits of Team, Inc. Salary Deferral Plan and Trust (the "Plan") as of
December 31, 2000 and 1999, and the statement of changes in net assets available
for plan benefits for the year ended December 31, 2000. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, such financial statements present fairly, in all material
respects, the net assets available for plan benefits of Team, Inc. Salary
Deferral Plan and Trust at December 31, 2000 and 1999, and the changes in net
assets available for plan benefits for the year ended December 31, 2000 in
conformity with accounting principles generally accepted in the United States of
America.

Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule listed in the
table of contents is presented for the purpose of additional analysis and is not
a required part of the basic financial statements, but is supplementary
information required by the U.S. Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This schedule is the responsibility of the Plan's management. Such
schedule has been subjected to the auditing procedures applied in our audit of
the basic 2000 financial statements and, in our opinion, is fairly stated in all
material respects when considered in relation to the basic financial statements
taken as a whole.

Deloitte & Touche LLP
Houston, Texas
October 5, 2001

                                      -1-

<PAGE>

TEAM, INC. SALARY DEFERRAL PLAN AND TRUST

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS,
DECEMBER 31, 2000 AND 1999
--------------------------------------------------------------------------------

ASSETS                                                2000            1999

INVESTMENTS                                        $12,280,343    $11,635,979

CASH                                                                   12,838

ACCRUED INTEREST/DIVIDENDS                               7,244
                                                   -----------    -----------

NET ASSETS AVAILABLE FOR BENEFITS                  $12,287,587    $11,648,817
                                                   ===========    ===========

See notes to financial statements.


                                   -2-
<PAGE>


TEAM, INC. SALARY DEFERRAL PLAN AND TRUST

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2000
--------------------------------------------------------------------------------

ADDITIONS TO NET ASSETS AVAILABLE FOR BENEFITS ATTRIBUTED TO:
  Investment income:
    Interest and dividends                                         $   247,190
    Net depreciation in fair value of investments                     (263,902)
                                                                   -----------
        Total                                                          (16,712)

    Participant contributions                                        1,054,148
    Employer contributions                                             279,099
                                                                   -----------

                                                                     1,333,247
                                                                   -----------

        Total additions                                              1,316,535
                                                                   -----------

DEDUCTIONS FROM NET ASSETS AVAILABLE FOR BENEFIT
  ATTRIBUTED TO:
  Administrative fees                                                    9,225
  Distributions and benefits paid to participants                      668,540
                                                                   -----------

NET INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS                      638,770

NET ASSETS AVAILABLE FOR BENEFITS:
  Beginning of year                                                 11,648,817
                                                                   -----------

  End of year                                                      $12,287,587
                                                                   ===========


See notes to financial statements.


                                   -3-
<PAGE>

TEAM, INC. SALARY DEFERRAL PLAN AND TRUST

NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2000 AND 1999 AND FOR THE YEAR ENDED DECEMBER 31, 2000
--------------------------------------------------------------------------------

1.    DESCRIPTION OF THE PLAN

      The following description of the Team, Inc. Salary Deferral Plan and Trust
      (the "Plan") provides only general information. Participants should refer
      to the plan agreement for a more complete description of the Plan's
      provisions.

      GENERAL - The Plan is a defined contribution plan covering all eligible
      employees of Team, Inc. (the "Company"). Employees become eligible to
      participate in the Plan if they are 21 years of age and upon completion of
      three months of service, as defined by the Plan. The Plan is administered
      by an Administrator appointed by the Board of Directors of the Company
      (the "Administrator"). The Administrator is Clark Ingram, vice president
      of Human Resources. No compensation is paid by the Plan to the
      Administrator. Prior to January 1, 2000, all mutual funds were
      administered by Kemper Securities, Inc. as asset manager. Effective
      January 1, 2000, Wells Fargo NA, (the "Trustee") became the authorized
      trustee of the Plan. The Plan is subject to the provisions of the Employee
      Retirement Income Security Act of 1974 ("ERISA").

      The Board of Directors of the Company approved the Plan and provided for
      the Plan to begin October 1, 1984. The agreement provided for, among other
      things, the qualification of the Plan under Section 401(k) of the Internal
      Revenue Code, as amended.

      CONTRIBUTIONS - Each year, participants may contribute up to 16% of their
      pre-tax annual eligible pay, as defined in the Plan. The Company
      contributes 50% of the participant's contribution, up to a limit of 4% of
      eligible pay. Additional amounts may be contributed at the discretion of
      the Company's Board of Directors. Contributions are subject to certain
      Internal Revenue Code limitations. Participants may also contribute
      amounts representing distributions from other qualified defined benefit or
      defined contribution plans.

      PARTICIPANT ACCOUNTS - Individual accounts are maintained for each plan
      participant. Each participant's account is credited with the participant's
      contribution, his or her portion of the Company's contribution, and an
      allocation of the Plan's earnings. The benefit to which a participant is
      entitled is the benefit that can be provided from the participant's vested
      account.

      INVESTMENTS - Participants direct the investment of their contributions
      into various investment options offered by the Plan. Contributions can be
      invested on a percentage allocation basis in any increment of 1%. Company
      contributions are allocated on the same basis as the participant has
      elected to allocate their contributions. Contributions may be invested in
      the following funds:

      Company Stock Fund - Invests in the Company's common stock.

      Wells Fargo Mutual Funds - as follows:

            Wells Fargo Treasury Plus Institutional Money Market Fund - invests
            primarily in U.S. Treasury obligations or repurchase agreements
            which are collateralized by U.S. Treasury obligations.

            Invesco Select Income Fund - invests in government and corporate
            debt securities.

                                      -4-
<PAGE>


            Pimco Low Duration Fund - invests in fixed-income securities with an
            average portfolio duration between one and three years.

            Janus Balanced Fund - invests in securities selected for their
            growth potential and income potential.

            American Century Income and Growth Fund - invests in common stocks.

            Wells Fargo Index Fund - invests in substantially all the stocks of
            the Standard & Poor's 500 Composite Price Index in substantially the
            same weightings as the Index.

            Massachusetts Investors Growth Stock Fund - invests in common stocks
            of companies with better-than-average prospects for long-term
            growth.

            Dreyfus Emerging Leaders Fund - invests primarily in domestic and
            foreign equity securities of issuers characterized as growth
            companies and with market capitalizations below $750 million.

            Janus Worldwide Fund - invests primarily in common stocks of foreign
            and U.S. companies.

            Wells Fargo Large Company Growth Fund - invests primarily in large
            high-quality domestic companies that are believed to have superior
            growth potential.

            Invesco Dynamic Fund - invests primarily in commons stocks.

            Wells Fargo Life Path 2010 Fund - invests in stocks, bonds, and
            money market securities - seeking higher returns initially and
            reallocating to a more conservative mix as the year 2010 approaches.

            Wells Fargo Life Path 2020 Fund - invests in stocks, bonds, and
            money market securities - seeking higher returns initially and
            reallocating to a more conservative mix as the year 2020 approaches.

            Wells Fargo Life Path 2030 Fund - invests in stocks, bonds, and
            money market securities - seeking higher returns initially and
            reallocating to a more conservative mix as the year 2030 approaches.

            Wells Fargo Life Path 2040 Fund - invests in stocks, bonds, and
            money market securities - seeking higher returns initially and
            reallocating to a more conservative mix as the year 2040 approaches.

            Wells Fargo Life Path Opportunity Fund - invests in a mix of
            equities, debt securities, and cash equivalents.

                                      -5-
<PAGE>

      VESTING - Participants are vested immediately in their contributions plus
      actual earnings thereon. Vesting in the Company's contribution potion of
      their accounts is based on continuous years of service as follows:

                                                  PERCENTAGE OF
                                              EMPLOYER CONTRIBUTION
           YEARS OF SERVICE                    THAT BECOMES VESTED

          Less than one year                            0
          One year                                     20
          Two years                                    40
          Three years                                  60
          Four years                                   80
          Five years or more                          100

      After becoming vested, employer contributions are not forfeitable for any
      reason. Forfeited balances of terminated participants are used to reduce
      future Company contributions.

      PARTICIPANT LOANS - Participants may borrow from their fund accounts up to
      a maximum of $50,000 or 50% of their account balance, whichever is less.
      The minimum loan amount is $1,000. The loans are secured by the balance in
      the participant's account and bear interest at rates commensurate with
      local prevailing rates as determined quarterly by the plan administrator.
      All loans must generally be repaid within five years, except where a loan
      is used to purchase a principal residence. The maximum number of
      outstanding loans allowed per participant is three.

      PAYMENT OF BENEFITS - Participants who terminate employment, retire, die,
      or become totally disabled are entitled to the balance in their accounts.
      Benefits are payable either in a lump-sum amount or in monthly, quarterly,
      semiannual, or annual installments over a period not exceeding ten years.

      TERMINATION OF THE PLAN - The Company may terminate the Plan at any time.
      In the event of termination of the Plan, the assets held by the asset
      manager under the Plan will be valued and each participant will be
      entitled to distributions for the balance of his or her account.

2.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

      BASIS OF ACCOUNTING - The accompanying financial statements have been
      prepared in accordance with accounting principles generally accepted in
      the United States of America.

      USE OF ESTIMATES - The preparation of financial statements in conformity
      with accounting principles generally accepted in the United States of
      America requires management to make estimates and assumptions that affect
      the reported amounts of net assets available for benefits and changes
      therein. Actual results could differ from these estimates. The Plan
      utilizes various investment instruments. Investment securities, in
      general, are exposed to various risks, such as interest rate, credit, and
      overall market volatility. Due to the level of risk associated with
      certain investment securities, it is reasonably possible that changes in
      the value of investment securities will occur in the near term and that
      such changes could materially affect the amounts reported in the
      statements of net assets available for plan benefits.

      RECLASSIFICATIONS - Certain amounts in the prior year have been
      reclassified to conform to the current year presentation.

                                      -6-
<PAGE>

      INVESTMENT VALUATION AND INCOME RECOGNITION - The Plan's investments are
      stated at fair value. Quoted market prices are used to value investments.

      Purchases and sales of securities are recorded on a trade-date basis.
      Interest income is recorded on the accrual basis. Dividends are recorded
      on the ex-dividend date.

      EXPENSES - Administrative expenses of the Plan are paid by the Company, as
      provided in the plan document.

      PAYMENT OF BENEFITS - Benefit payments to participants are recorded upon
      distribution. At December 31, 2000 and 1999, no amounts allocated to
      accounts of persons who have elected to withdraw from the Plan but have
      not yet been paid.

3.    INVESTMENTS

      The Plan's investments that represented 5% or more of the Plan's net
      assets available for benefits as of December 31, 2000 and 1999 are as
      follows:


                                                         2000          1999

      Team, Inc. Common Stock                          $1,127,080
      Wells Fargo Mutual Funds:
        Janus Balanced Fund                             1,326,453
        Wells Fargo Index                               1,744,799
        Massachusetts Investors Growth
          Stock Fund                                    3,252,583
        Janus Worldwide                                   787,933
        Wells Fargo Treasury Plus Institutional
          Money Market Fund                               894,222
      Participant loans receivable                      1,359,686

      Kemper Securities, Inc. Mutual Funds:
        Money Market Fund                                           $1,128,984
        Total Return Fund                                            1,380,788
        Growth Fund                                                  3,737,395
        U.S. Government Securities Fund                                615,111
        Blue Chip Fund                                               2,243,980
      Participant loans receivable                                   1,055,716


      During 2000, the Plan's mutual fund investments (including gains and
      losses on investments bought and sold, as well as held during the year)
      depreciated in value by $263,902.

4.    FEDERAL INCOME TAX STATUS

      The Plan obtained its latest determination letter on January 16, 1996, in
      which the Internal Revenue Service stated that the Plan was in compliance
      with the applicable requirements of the Internal Revenue Code. The Plan
      has been amended since receiving the determination letter; however, the
      Company, the Plan administrator, and the Plan's tax counsel believe that
      the Plan is designed and being operated in compliance with the applicable
      requirements of the Internal Revenue Code. Therefore, they believe that
      the Plan is qualified and the related trust is tax-exempt as of December
      31, 2000. Therefore, no provision for income taxes has been included in
      the Plan's financial statements.

      A participant is not subject to federal income tax on the employer's
      contribution or on the income accruing to his or her account until such
      amount is paid to the participant.

                                      -7-
<PAGE>


5.    RELATED-PARTY TRANSACTIONS

      During the year ended December 31, 2000, the Plan sold 43,499 shares of
      Team, Inc. common stock with a cost of $75,759 for $104,542.

6.    PLAN TERMINATION

      Although it has not expressed any intention to do so, the Company has the
      right under the Plan to discontinue its contributions at any time and to
      terminate the Plan subject to the provisions set forth in ERISA. In the
      event the Plan is terminated, participants would become 100% vested in
      their account.

                                     ******




                                      -8-

<PAGE>



TEAM, INC. SALARY DEFERRAL PLAN AND TRUST

FORM 5500, SCHEDULE H, LINE 4i -- SCHEDULE OF ASSETS
(HELD AT END OF YEAR)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
(a)             (b)                                   (c)                                        (e)

        IDENTITY OF ISSUE,
         BORROWER, LESSOR                     DESCRIPTION OF INVESTMENT, INCLUDING               CURRENT
         OF SIMILAR PARTY                      MATURITY DATE AND RATE OF INTEREST                 VALUE

  <S>                                      <C>                                               <C>
  *   Team, Inc.                           Team Common Stock Fund                            $ 1,127,080
      Wells Fargo                          Lifepath Opportunity Fund                               3,132
      Wells Fargo                          PIMCO Low Duration Fund                               487,683
      Wells Fargo                          Wells Fargo Lifepath 2010 Fund                          1,502
      Wells Fargo                          Wells Fargo Lifepath 2020 Fund                          5,576
      Wells Fargo                          Invesco Select Income Fund                             57,720
      Wells Fargo                          Wells Fargo Lifepath 2030 Fund                         25,356
      Wells Fargo                          Janus Balanced Fund                                 1,326,453
      Wells Fargo                          Wells Fargo Lifepath 2040                              22,308
      Wells Fargo                          American Century Income and Growth Fund               223,902
      Wells Fargo                          Wells Fargo Index Fund                              1,744,799
      Wells Fargo                          Wells Fargo Large Company Growth Fund                 160,271
      Wells Fargo                          MFS Massachusetts Investors Growth Stock Fund       3,252,583
      Wells Fargo                          Invesco Dynamics Fund                                 359,107
      Wells Fargo                          Dreyfus Emerging Leaders Fund                         441,030
      Wells Fargo                          Janus Worldwide Fund                                  787,933
      Wells Fargo                          Wells Fargo Treasury Plus Ins Money Market Fund       894,222
                                                                                             -----------

                                           Total                                              10,920,657

      Participants loans receivable        Due in monthly installments for up to 60 months,
                                             interest rates ranging from 9.75% to 10.50%.      1,359,686
                                                                                             -----------

                                           TOTAL                                             $12,280,243
                                                                                             ===========
</TABLE>

* Party-in-interest

                                      -9-

<PAGE>

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
administrative committee have duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.


                                       Team, Inc. Salary Deferral Plan and Trust

                                                      (name of plan)

      Date: October 15, 2001           By: /s/ TED W. OWEN
                                          ------------------------------
                                               Ted W. Owen

                                       Vice-President and CFO of Team, Inc.

                                          (Principal Accounting Officer)



                                      -10-


</TEXT>
</DOCUMENT>
</SUBMISSION>
