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The video tutorial discusses two types of change of control provisions: single trigger and double trigger. A single trigger change of control occurs during an acquisition event, such as an asset or stock purchase, allowing executives to exit immediately when the acquisition happens. However, this provision is often disfavored as acquiring companies typically want to retain their management teams, making it less common. In contrast, a double trigger change of control involves an acquisition followed by the executive being terminated within a defined time frame, at which point they are entitled to exit. This provision is more favorable as it aligns the interests of the new management with the acquiring company.