golden parachute
n.
An employment agreement that guarantees a key executive lucrative severance benefits.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
golden parachute
n
(Banking & Finance) 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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
gold′en par′achute
n.
an employment agreement guaranteeing an executive substantial compensation in the event of dismissal as a result of a merger or takeover.
[1980–85]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
| Noun | 1. |  golden parachute - giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeoverporcupine provision, shark repellent - a measure undertaken by a corporation to discourage unwanted takeover attempts |
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