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golden parachute
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golden parachute
noun
an employment contract or agreement guaranteeing a key executive of a company substantial severance pay and other financial benefits in the event of job loss caused by the company's being sold or merged.
Origin:
1980–85
1980–85
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Based on the Random House Dictionary, © Random House, Inc. 2012.
Cite This Source
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Golden parachute
is always a great word to know.
So is doohickey. Does it mean:
| a gadget; dingus; thingumbob. |
| a fool or simpleton; ninny. |
Collins
World English Dictionary
| golden parachute | |
| —n | |
| 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 & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
Cite This Source
American Heritage
Cultural Dictionary
golden parachute definition
A generous package of benefits offered to an employee as an inducement for early retirement or departure from a company: “Following the merger, many executives decided to leave after the offer of a golden parachute.”
Note: The term golden handshake means essentially the same thing: “The principal accepted the golden handshake in lieu of being demoted to assistant principal.”
Note: Both expressions are from the last quarter of the twentieth century, when such packages were offered frequently.
golden parachute definition
A provision in the contracts of many top executives that guarantees substantial benefits if they lose their positions.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source
Slang Dictionary
golden parachute definition
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Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition.
Copyright 2007. Published by McGraw Hill.
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Copyright 2007. Published by McGraw Hill.
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Word Dynamo Rating For Golden parachute
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