n. a special kind of severance pay for persons who may be forced to leave a job. (Usually for highly paid executives in large corporations. If the company is taken over and the executives are fired, they are very well provided for. See also golden handcuffs.) : If all the golden parachutes were used at the same time, it would bankrupt the company.
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw-Hill Education.
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