Which of the following may be defined as a contract in which a corporation agrees to make a payment to a key officer in the event of a change in control of the corporation?

Question

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A golden parachute is a type of contract in which a corporation agrees to make a payment to a key officer in the event of a change in control of the corporation, such as a merger or acquisition. This is intended to provide the executive with financial security in the event of job loss or other changes resulting from the corporate takeover.

Which of the Following May Be Defined as a Contract