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Memristive devices are novel devices, which can be used in applications ranging from memory and logic to neuromorphic systems. A memristive device offers several advantages: nonvolatility, good scalability, effectively no leakage current, and compatibility with CMOS technology, both electrically and in terms of manufacturing. Several models for memristive devices have been developed and are discussed in this paper. Digital applications such as memory and logic require a model that is highly nonlinear, simple for calculations, and sufficiently accurate. In this paper, a new memristive device model is presented-TEAM, ThrEshold Adaptive Memristor model. This model is flexible and can be fit to any practical memristive device. Previously published models are compared in this paper to the proposed TEAM model. It is shown that the proposed model is reasonably accurate and computationally efficient, and is more appropriate for circuit simulation than previously published models.