An agreement in an employment contract giving an employee certain protections from a change of ownership in a company. Typically, protections trigger after a change in the controlling interest that impacts the employee’s relationship with the company. The protections often include the continuation of salary agreements, benefits, and other compensation arrangements .
Link to This DefinitionDid you find this definition of CHANGE IN CONTROL PROVISION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary