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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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 agency defines golden parachutes as payments that are "contingent on the termination of that person's employment and received when the credit union making the payment is troubled, capitalized or insolvent.
As for the deductibility of the compensation payments, the court said it depends on whether they are prohibited golden parachute payments.
Drabinsky (who is now a wanted felon in the United States for his creative accounting practices with Livent, the theatre company he was given as part of his golden parachute out of Cineplex) and the de-evolution of civil behaviour that leads one young man to stab another for a "dissing" glance, the actual state of movie-going in Toronto has changed very little in the transpiring 22 years.
She touched lightly on various issues and provided detailed explanation of golden parachute payments.
Talks were held for weeks earlier this year but broke down after Sir Martin discovered the golden parachute schemes.
or the CEO will be dangling from his golden parachute in short order.
It seems unlikely that the Mister Rogers act will lessen the sting of unemployment for Mobil workers who have no golden parachute.
Some evidence is also available suggesting that the adoption of a golden parachute is associated with a positive security market reaction (Lambert and Larcker, 1985).
By late 1985, Anderson's main concerns had shifted to fighting off a hostile corporate raider and nailing down a golden parachute for himself.