golden handshake(redirected from Golden Umbrellas)
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Related to Golden Umbrellas: golden parachute
A lucrative severance agreement offered to an employee typically as an inducement to resign or retire.
(Industrial Relations & HR Terms) informal a sum of money, usually large, given to an employee, either on retirement in recognition of long or excellent service or as compensation for loss of employment
a special incentive, as generous severance pay, offered as an inducement to elect early retirement.