golden parachute


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Related to golden parachute: greenmail, poison pill, Silver Parachute

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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After reviewing the different factors, the court concluded that part of the compensation was unreasonable and therefore were nondeductible golden parachute payments.
The study looked at the results of newly required shareholder advisory votes called Say on Golden Parachutes (SOGP), which relate to management payouts that would be triggered by a corporate change-in-control.
The NCUA's proposal to limit golden parachutes and indemnification payments is overbroad and would place unnecessary restrictions on credit union boards, according to comment letters filed by CUNA and NAFCU.
Given the gargantuan size of some golden parachutes, perhaps a more appropriate headline would read: "Want a really big bonus?
For the $1 million cap under IRC section 162(m) and golden parachute payments, the service will ensure proper compliance with statutory limits and regulations.
This is mandatory, or the CEO will be dangling from his or her golden parachute in short order.
In their discussion of the loss disallowance rules, the built-in loss rules, and numerous other rules (from the special rules relating to groups including life insurance companies to the depreciation deduction to the safe harbor leases and golden parachute payments), the authors provide much needed assistance.
NCUA Attorney Pamela Yu said there are exemptions to the golden parachute rules to allow for previously agreed to deferred compensation plans and legitimate "nondiscriminatory" severance pay plans.
Subsequent to this event, fourteen members of senior management would be entitled to immediately resign their employment and receive substantial golden parachute payments, ranging up to 3x annual salary, upon Mr.
But the golden parachute available from the utility is much more generous, and Deaton will be able to retire from his $310,000 DWP job at a minimum annual pension of $307,000 (2.
Golden parachute payments made to corporate executives, which are contingent on a change in ownership or control, are limited under Sec.
Why should your bank's CEO get a golden parachute while the rest of the bank nose dives?