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golden handshake

noun
1.
a special incentive, as generous severance pay, given to an older employee as an inducement to elect early retirement.
2.
the giving or offering of such an incentive.
Origin
1955-1960
1955-60
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for golden hand shake

golden handshake

noun
1.
(informal) a sum of money, usually large, given to an employee, either on retirement in recognition of long or excellent service or as compensation for loss of employment
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Idioms and Phrases with golden hand shake

golden handshake

Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers. This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.
The American Heritage® Idioms Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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