golden parachute 
noun informal
A large payment or other financial compensation guaranteed to a company executive if they should be dismissed as a result of a merger or takeover: I negotiated a large golden parachute when I came to America...
- Money could reach into the billions, given the oversized options, bonuses, and golden parachutes granted in recent years.
- Rumours are spread about CEOs who get golden parachutes and entrepreneurs who leave with pockets stuffed full of cash.
- But these fired CEOs are walking away with golden parachutes paying them more money for being fired than most Americans earn in a lifetime.