GOLDENPARACHUTE

Golden parachute

A golden parachute is an agreement between a company and an employee specifying that the employee will receive certain significant benefits if employment is terminated. Most definitions specify the employment termination is as a result of a merger or takeover, also known as "Change-in-control benefits". But more recently the term has been used to describe perceived excessive CEO severance packages unrelated to change in ownership . The benefits may include severance pay, cash bonuses, stock options, or other benefits.

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golden parachute

Noun

  1. An agreement between a company and an employee, usually an executive, specifying that the employee will receive certain significant benefits if employment is terminated.


The above text is a snippet from Wiktionary: golden parachute
and as such is available under the Creative Commons Attribution/Share-Alike License.

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