golden parachute


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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 ?
Bear State Financial's Golden Parachute Compensation Name Title Cash Equity (*) Tom Fritsche Chief Risk Officer $700,000 $461,027 Matt Machen President & CEO $736,667 $409,286 Sherri R.
From these, five proposals by investors that restricted golden parachute packages got support from the majority of shareholders.
The survey indicated a decline in use of a golden parachute clause by 10 percent, which was second to non-solicitation clause, down 17.
ISS advised shareholders to vote against 28 percent of golden parachute proposals between February and the end of October, according to compensation consultants Pearl Meyer & Partners," the Journal reported.
Adding fuel to the fire was Vasella's planned 72 million Swiss franc golden parachute, to be paid out over six years, provided he did not go to work for the competition, after stepping down this February.
15 ( ANI ): A former KGB agent, who served as the chief executive of a Russian mining group would be receiving a 100 million dollar golden parachute pay-off, which would be the largest pay-off in the country's corporate history.
I don't know if it's up to the international community, given what Qadhafi has done against his own people, to prepare him any kind of easy exit or some kind of golden parachute to leave Libya," Mr.
Exceptions can be made if a credit union gets permission from its state or federal regulator or it uses a golden parachute to hire new executives to bring it back to sound financial health.
The second reporting requirement in the final rule mandates that, in the case of a merger or takeover, companies disclose the golden parachute arrangements for named executive officers in both tabular and narrative formats.
TAOISEACH Brian Cowen finally threw in the towel last night and walked away with a EUR400,000 golden parachute payment.
Record City bonuses, massive boardroom pay rises 10 times that on the shop floor, golden parachute pensions for the bosses, lead balloons for the workers.
Other topics receiving multiple letters included criticism of field burning, University of Oregon Athletic Director Bill Moos' $2 million golden parachute and a debate over whether it was appropriate to present religious gospel music at the dedication of the new federal courthouse in Eugene.