Golden-parachute
noun
1.
an employment contract or agreement guaranteeing a key executive of a company substantial severance pay and other financial benefits in the event of job loss caused by the company’s being sold or merged.
noun
1.
(informal) a clause in the employment contract of a senior executive providing for special benefits if the executive’s employment is terminated as a result of a takeover
A generous package of benefits offered to an employee as an inducement for early retirement or departure from a company: “Following the merger, many executives decided to leave after the offer of a golden parachute.”
Note: The term golden handshake means essentially the same thing: “The principal accepted the golden handshake in lieu of being demoted to assistant principal.”
Note: Both expressions are from the last quarter of the twentieth century, when such packages were offered frequently.
A provision in the contracts of many top executives that guarantees substantial benefits if they lose their positions.
noun phrase
Very high sums, benefits, etc, offered for taking early retirement: ”Golden parachutes” or severance packages are all becoming more common/ A parting golden handshake with GM included a valuable Cadillac franchise ( first form 1980s+, second 1960+)
Read Also:
- Golden-perch
noun 1. a freshwater food fish, Plectroplites ambiguus, that inhabits inland waters of Australia. noun 1. another name for callop
- Golden-pheasant
noun 1. an Asiatic pheasant, Chrysolophus pictus, having brilliant scarlet, orange, gold, green, and black plumage. noun 1. a brightly coloured pheasant, Chrysolophus pictus, of the mountainous regions of W and central Asia, the males of which have a crest and ruff
- Golden-plover
noun 1. either of two plovers of the genus Pluvialis, having the back marked with golden-yellow spots, P. apricaria, of Europe, or P. dominica, of America. noun 1. any of several plovers of the genus Pluvialis, such as P. apricaria of Europe and Asia, that have golden brown back, head, and wings
- Golden-polypody
noun 1. . [hairz-foo t] /ˈhɛərzˌfʊt/ noun 1. a fern, Polypodium aureum, of tropical America, having a brown, scaly rootstock and green or deep bluish-green fronds.
- Golden-ragwort
noun 1. See under . [rag-wurt, -wawrt] /ˈrægˌwɜrt, -ˌwɔrt/ noun 1. any of various composite plants of the genus Senecio, as S. jacobaea, of the Old World, having yellow flowers and irregularly lobed leaves, or S. aureus (golden ragwort) of North America, also having yellow flowers. /ˈræɡˌwɜːt/ noun 1. any of several plants of the […]