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In changing control provisions, the key differences between single trigger and double trigger provisions are outlined. A single trigger change of control occurs when a company is acquired—either through an asset or stock purchase—allowing executives to exit immediately upon the acquisition. However, single trigger provisions are increasingly disfavored since acquiring companies often prefer to retain the existing management team, making this provision a disincentive. In contrast, a double trigger provision involves both a transaction or exit and the termination of the executive within a defined timeframe afterward, allowing the executive to exit under these conditions. Double trigger provisions are more common in today’s agreements.
