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golden parachute definition - finance
A large payment that is made to top corporate executives in the event that the executiveÂ’s job is somehow eliminated, perhaps because the company is taken over. The payment may include cash, stock options, or a bonus.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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