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golden parachute
(redirected from Golden parachutes)

    Also found in: Legal, Financial, Idioms, Encyclopedia, Wikipedia, Hutchinson 0.09 sec.
golden parachute
n. Slang
An employment agreement that guarantees a key executive lucrative severance benefits if control of the company changes hands followed by management shifts.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.golden parachutegolden parachute - giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
porcupine provision, shark repellent - a measure undertaken by a corporation to discourage unwanted takeover attempts
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As Neuhauser explains, many golden parachutes for departing executives are subject to a 20 percent excise tax.
Looking hard at executive pay: the SEC's proposed disclosure rules on ... by Marshall, Jeffrey / Financial Executive
Consumers' desire for unrealistic high returns on their investments has been the driving force behind the push for more profits, outrageous salaries for chief executive officers, golden parachutes, bonus plans, stock options, etc.
Short on gasoline, long on greed by Pullia, Frank / Northern Ontario Business
The only shot they have at getting final approval is significantly reducing the golden parachutes that executives will receive if the merger goes through,'' said Jerry Flanagan, lead health care advocate with the Foundation For Taxpayer and Consumer Rights in Santa Monica.
COMPANIES SEE HEALTHY PROFITS by Daily News (Los Angeles, CA)
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