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"Is a change-in-control provision in an executive employment agreement the same as a separate change-in-control agreement?" | Sklover Working Wisdom
Question: Is the change-of-control provision in an executive employment agreement the same as a separate change-of-control agreement? Bhanu Hyderabad, India Answer: Overall, the answer is "Yes," the two are basically the same and serve the same purpose, but differ in what they usually provide and to whom they are provided. (Please note that "change of control" and "change in control" mean the same thing.) A "change in control" at work means just what it says: an event by which new people have gained control of a company. It might be by purchase of a majority interest, by merger, by change in Board composition, by arrival of new CEO, or in several other ways. Whether a "change in control" has, in fact, taken place, may depend on how "change in control" is defined. For employees, and executive employees in particular, "changes of control" represent a significant risk, mostly because the new "controllers" often want new "controllees," that is, they often bring in their own, trusted