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golden parachute

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.07 sec.
a golden parachute
if an important manager in a company has a golden parachute, the company agrees to give them a very large sum of money if they lose their job. He insisted on a substantial golden parachute as part of the package before taking up the post.
See also: golden
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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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