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golden parachute
(redirected from Golden parachutes)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
golden parachute, a contract given to top executives of a corporation to provide benefits in case of job loss due to a takeover by another firm or a merger. The unusually generous benefits may include substantial severance pay, a one-time bonus payment when employment ends, or stock options.
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More generally, the ministers adopted recommendations that would allow governments to limit golden parachutes even at companies that do not get state bailouts, particularly in the financial sector.
EU to propose caps on executives', bankers' bonuses by AFP / AFP Global Edition
Investors also were dismissive of the widespread use of golden parachutes, or contractual arrangements that provide executives with financial protection in the event of a takeover.
Compensation: investors troubled by corporate policies by Heffes, Ellen M. / Financial Executive
Given the gargantuan size of some golden parachutes, perhaps a more appropriate headline would read: "Want a really big bonus?
Time to revisit your CIC agreements by Rock, Robert H. / Directors & Boards
 
 
 
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