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golden parachute

   Also found in: Dictionary/thesaurus, Legal, Financial, Idioms, Wikipedia, Hutchinson 0.04 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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And should Mayor Antonio Villaraigosa ultimately gain control of the district and fire him, Brewer is guaranteed a golden parachute.
EDITORIAL BREWER'S MILLIONS FOR ALL THE MONEY HE'S GETTING, NEW LAUSD ... by Daily News (Los Angeles, CA)
Executive's $400 million golden parachute and when companies' yearly net profits outdo even Wal-Mart.
Oil companies are gouging by Simpson, Robert L. / The New American
The FDIC's regulations on golden parachute agreements are found in 12 CFR 359 and are discussed in this manual section.
Publication of the November 2003 update to the Commercial Bank ... by Federal Reserve Bulletin
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