a golden handshake

a golden handshake

a large sum of money which is given to someone when they leave a company, especially if they are forced to leave The manager got early retirement and a £600,000 golden handshake when the company was restructured.
See also: golden, handshake
References in periodicals archive ?
I EXPECT like myself, many readers would be surprised to find that NHS employees have been entitled to a golden handshake on retirement, albeit as Ray Irwin states "nothing substantial" - pounds 10 for every year of service and pounds 150 for food for a celebration.
He was someone who wasn't doing his job and to be allowed to walk off into the sunset with a golden handshake is I think something most people will find very irritating.
Members of the Communication Workers Union held a rally in Manchester which heard demands that Royal Mail chairman Allan Leighton should not receive a golden handshake when he steps down next March.
As a result, he resigned to limit damage to BP and forfeited pounds 15m in shares and a golden handshake.
Traditionally, a golden handshake, compensation payment, or lump-sum in lieu of notice has been free of tax, provided the amount is less than pounds 30,000.
It looks like what Stuckey really wants is a golden handshake - some nifty settlement cash to take with him on his way out the door.
After an initial flurry of projects--including a golden handshake commission at Hopkins' offices in Marylebone--Snell Associates has been relatively quiet.
For too long, failure has been seen as a way to a golden handshake and a nice little pension.
SIR - Is it true that the Assembly is planning to give old Labour councillors a golden handshake of pounds 10,000, in the attempt to bring in younger councillors?
Forest are adamant the player will not land a golden handshake.
NEW YORK -- Big company CEOs are on the move - out of their corner offices, with many of these departing leaders receiving some form of a golden handshake.
Mr Mellor was shown the door as boss of Anglian Water Group in March 2003 - receiving a golden handshake which topped pounds 1million - after a demand by investors for "new leadership".
He has had a sum equivalent to three times his annual rent as a golden handshake.
How can anyone justify a golden handshake of pounds 9 million?
If not, the new board should get a new superintendent and not be forced to make a choice between textbooks and a golden handshake of a year's salary for a failed leader.