Change-In-Control Agreement
/ˈʧeɪnʤ-ɪn-kənˈtroʊl əˈgriːmənt/
Definitions
- (n.) A contract stipulating specific rights and obligations triggered by a change in ownership or control of a company, often to protect employees or stakeholders.
The executives' compensation packages included a change-in-control agreement to secure bonuses if the company was acquired.
Forms
- change-in-control agreement
- change-in-control agreements
Related terms
See also
Commentary
Commonly included in executive contracts to provide security upon ownership transitions; drafting should clearly define what constitutes a 'change in control' to avoid disputes.
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