For example, I.B.M. scrutinized the "change of control" contracts with Sun executives, senior engineers and managers.
I.B.M. pointed to the change of control contracts as one reason it was reducing its offer price.
Thanks to accelerated vesting of options and stock awards, Mr. Barr stands to receive almost $20 million under so-called change-of-control provisions in his contract.
He would also receive $27.5 million under a change-of-control clause in his contract and about $10 million more in executive retirement benefits, according to the WellPoint proxy and other filings.
A change-of-control clause in his contract means he could go straight back out of the door with a "golden goodbye" of over $56m.The biggest loser, in contrast, may be Philippe Varin, who will step down as boss of PSA Peugeot Citroën, a struggling French carmaker.
Beyond that, there is in our contracts a change-of-law process that requires notice and negotiations and eventual arbitration".
The company, he says, is simply enforcing a "change-of-control clause" in the contracts.
Mr. Barnett said the changes constituted a breach of contract.
Meanwhile, union members are voting on a sweeping series of contract changes similar to those already approved at Ford and Chrysler.
Introduced in 2004 to protect surgeries from losses as a result of contract changes, MPIG is worth £219,508 a year to Jubilee Street.
