Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun An employment agreement that guarantees a key executive lucrative severance benefits.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun idiomatic, business An
agreement between acompany and anemployee , usually an executive, specifying that the employee will receive certain significantbenefits if employment isterminated .
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
Etymologies
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Examples
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kalidas commented on the word golden parachute
definition: something valuable that you gain while exiting a not-so-pleasant situation
January 4, 2007
john commented on the word golden parachute
"Mr. Paulson, in Congressional testimony last week, had also expressed support for provisions to limit the pay of executives whose firms seek assistance, including a ban on so-called golden parachute retirement plans."
The New York Times, Consensus on Rescue Plan Is Said to Be Near, by David M. Herszenhorn and Carl Hulse, September 27, 2008
September 28, 2008