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Change in control agreements are contracts that outline pay and benefits an executive will receive in the event of a change in company ownership. They are also sometimes known as ?golden parachutes,? as they provide protection for executives if they are forced out after a company takeover.

Change in control agreements are contracts that outline pay and benefits an executive will receive in the event of a change in company ownership. They are also sometimes known as ?golden parachutes,? as they provide protection for executives if they are forced out after a company takeover.

A typical executive compensation package has financial and non-financial components. They are salary, benefits, bonuses and equity. Commonly, an executive would get more amount of equity than a normal worker and a normal worker quite often wouldn't get any equity in a private company.

In employment contracts, a change of control clause entitles the employee to a specified payment or enhanced notice period if their employer is taken over and the takeover results in dismissal by their employer or a material reduction in the employee's responsibilities leading to constructive dismissal within a ...

Parties normally seek to include provisions in an agreement that allow for either termination or an adjustment of their rights, such as payment, upon a change of structure or ownership of the other party. This is known as a ?change of control? clause.

Change of Control Benefits means the Executive's receipt of the Termination Payment or any other payment, benefit or compensation (except for the Additional Amount) which the Executive receives or has the right to receive from the Company or any of its affiliates as a result of a Change of Control Termination.

Change-in-control arrangements relate to payments made to executive departures triggered by a merger, acquisition or divestiture. The prevailing practice is for "double-trigger" change-in-control arrangements that activate upon a business change of ownership if the executive also loses his or her job.