A golden parachute is an agreement to pay a large amount of money to a senior executive of a company if they are forced to leave.
[business]
Golden parachutes entitle them to a full year's salary if they get booted out ofthe company.
golden parachute in British English
noun
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
golden parachute in American English
Informal
a large sum of money or other compensation given as severance pay to a top executive who is dismissed from a corporation as a result of its being acquired by another company
golden parachute in Finance
(goʊldən pærəʃut)
Word forms: (regular plural) golden parachutes
noun
(Finance: Corporate)
A golden parachute is a very large payment and benefits that are offered to executives as part of their employment agreement if they are forced to leave acompany.
Many of the sacked executives will collect a large golden parachute payment with their redundancy letter.
Without the golden parachute, managers may have some incentive to acquiesce too easily to strong, hostile takeoverbids.
A golden parachute is a very large payment and benefits that are offered to executives as part of theiremployment agreement if they are forced to leave a company.
Examples of 'golden parachute' in a sentence
golden parachute
He was also awarded a golden parachute worth $ 15m.
Times, Sunday Times (2009)
What is certain is that these golden parachutes were monuments to greed, cronyism and the absence of accountability.
Times, Sunday Times (2013)
They were never intended to be golden parachutes for executives.