golden parachute

noun
1.
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
Example Sentences for golden parachute
Profits are transferred to management, later they jump with the golden parachute of more profits.
Another likely target is the golden parachute for a departing boss, especially if he has left because of poor performance.
Suggestion: let's offer them a multimillion-dollar golden parachute.
In fact, their taxes would finance their former boss' golden parachute.
British Dictionary definitions for golden parachute
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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golden parachute in Culture

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.
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Slang definitions & phrases for golden parachute

golden parachute

noun phrase

Very high sums, benefits, etc, offered for taking early retirement : ''Golden parachutes'' or severance packages are all becoming more common/ A parting golden handshake with GM included a valuable Cadillac franchise ( first form 1980s+, second 1960+)


Dictionary of American Slang
Copyright © 1986 by HarperCollins Publishers
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Difficulty index for golden parachute

Few English speakers likely know this word

Tile value for golden

8
11
Scrabble Words With Friends