golden parachute


Also found in: Thesaurus, Legal, Financial, Idioms, Encyclopedia, Wikipedia.
Related to golden parachute: greenmail, poison pill, Silver Parachute

golden parachute

n.
An employment agreement that guarantees a key executive lucrative severance benefits.

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

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]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.golden parachute - giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeovergolden 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
Translations
parachute doré
References in periodicals archive ?
They won't miss out because they will receive 206,664 euros each depending on the length of service, they call it a golden parachute allowance.
Focus: FDIC Benefit Agreement Golden Parachute Payment
MPs questioned wheth er TSB bosses would be able to quit with big "golden parachute" payoffs.
New York, NY, April 26, 2018 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Laurence Wagman, Founding Principal, Golden Parachute Tax Solutions LLC will speak at a webcast entitled: "The Golden Parachute Rules: Tips and Strategies to Mitigate Impact on Your Bottom Line LIVE Webcast." This webcast is scheduled on May 10, 2018 at 12:00 pm to 2:00 pm (ET).
shareholders approve the sale to Arvest Bank of Fayetteville, Bear State wants them to approve a "golden parachute" compensation package for Bear State's executive officers.
Other executives receiving similar golden parachute packages include chief financial officer Ken Goldman ($9.5 million), co-founder David Filo ($66,415), and chief revenue officer Lisa Utzschneider ($16.5 million). 
Chubb also will pay any excise taxes Finnegan would be due on his golden parachute, according to the proxy filing.
From these, five proposals by investors that restricted golden parachute packages got support from the majority of shareholders.
The least common continued to be an evergreen provision and golden parachute, at less than 11 percent for each.