golden parachutegolden parachute
Informal a very large sum of money or other liberal compensation given as severance pay by a corporation to a top executive
An employment agreement that guarantees a key executive lucrative severance benefits.
golden parachute - Investment & Finance Definition
A large payment that is made to top corporate executives in the event that the executive’s job is somehow eliminated, perhaps because the company is taken over. The payment may include cash, stock options, or a bonus.