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golden parachute

   Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.03 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.
golden parachute
n
(Economics, Accounting & Finance / 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
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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And should Mayor Antonio Villaraigosa ultimately gain control of the district and fire him, Brewer is guaranteed a golden parachute.
EDITORIAL BREWER'S MILLIONS FOR ALL THE MONEY HE'S GETTING, NEW LAUSD ... by Daily News (Los Angeles, CA)
Executive's $400 million golden parachute and when companies' yearly net profits outdo even Wal-Mart.
Oil companies are gouging by Simpson, Robert L. / The New American
The FDIC's regulations on golden parachute agreements are found in 12 CFR 359 and are discussed in this manual section.
Publication of the November 2003 update to the Commercial Bank ... by Federal Reserve Bulletin
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