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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They will provide an in-depth discussion of the golden parachute payment rule and will also offer best tips and strategies in mitigating its impact to businesses' bottom line.
"The five proposals approved on the restriction of golden parachutes are an example of this development."
"It's part of a trend that's happening, you're seeing fewer golden parachutes in publicly traded companies; that's having an effect in nonprofits," he said.
In contrast, for the 39 deals with enhancements, a meaningful number of companies reported golden parachute payments that were above two times the average (six companies for the CEO, and five companies for the NEOs as a group).
The largest ever golden parachute was warded to John Welch, the former chief of General Electric.
The board also approved a final rule that would prohibit federally insured credit unions that are insolvent, in conservatorship or have ratings of CAMEL 4 and 5 from offering golden parachutes to their executives.
She is entitled to two golden parachute payments, one of $200,000 at the time of her termination and a second payment of $400,000 at a future date.
Another welcome provision limits "golden parachute" compensation for executives of companies in the program.
The author examines the very nature of leadership by looking at the preparation Gates took to train his successors while guaranteeing his own "golden parachute." This volume, which is presented in an easy- to-understand journalistic tone, should interest consumers, industry insiders and, most notably, competitors.
Record City bonuses, massive boardroom pay rises 10 times that on the shop floor, golden parachute pensions for the bosses, lead balloons for the workers.
It has been documented recently that a number of high-ranking officials in the Chancellor's office have received "golden parachute" payments in excess of $100,000, for at least one year after leaving their positions, despite taking highpaying jobs elsewhere.
Other topics receiving multiple letters included criticism of field burning, University of Oregon Athletic Director Bill Moos' $2 million golden parachute and a debate over whether it was appropriate to present religious gospel music at the dedication of the new federal courthouse in Eugene.