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Change of control provisions can be categorized into single trigger and double trigger. A single trigger occurs during a defined exit event, such as an asset or stock purchase, allowing the executive to receive a payout immediately upon the acquisition. However, single trigger provisions are often disfavored, as acquiring companies usually prefer to retain existing management rather than incentivize their departure. On the other hand, double trigger provisions require two conditions: an acquisition event followed by the executive's termination within a specified period. In this scenario, the executive is entitled to a payout, providing a balance that encourages retention during transitions.