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The video discusses change of control provisions, focusing on the distinction between single trigger and double trigger scenarios. A single trigger change of control occurs during an acquisition (asset or stock purchase) where an executive can exit immediately upon the acquisition event. However, this provision is less common as it can discourage new owners from retaining the management team they acquired. In contrast, a double trigger change of control requires two events: the acquisition and the executive's termination within a defined timeframe following the acquisition. In this case, the executive is entitled to exit, or "parachute out," only after both conditions are met.