parachute


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golden handshake

A large severance package given to an executive who leaves a company due to termination, corporate restructuring, or retirement. The company's vice president received a $500,000 golden handshake after being pressured to leave his position.
See also: golden, handshake

golden parachute

A large severance package given to an executive who is forced to leave a company due to a corporate merger or takeover. Daniel refused to take the position unless the company added a golden parachute clause to his contract.
See also: golden, parachute

golden handshake

Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers . This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.
See also: golden, handshake

golden parachute

n. a special kind of severance pay for persons who may be forced to leave a job. (see also golden handcuffs.) If all the golden parachutes were used at the same time, it would bankrupt the company.
See also: golden, parachute
References in periodicals archive ?
He was a member of the RMCS Black Rain team who in May won a parachuting contest at the Borders Parachute School in Northumberland.
About 10 miles of Kevlar lines attach the spacecraft to the outer rim of nearly 12,000 square feet of parachute canopy material, which cannot get tangled during deployment.
Scientist: you give them the parachute and ask them to send you a report on how well it worked.
Drop the 'normal' parachute and time how long(*) it takes to hit the ground.
Although originally made of silk, hence the Second World War aircrew slang of 'hitting the silk' as a reference to bailing out of an aircraft, most parachute canopies today are woven from artificial fibres, principally polyamide variant nylon-66, according to a 2005 presentation by parachute expert Dr.
Examples of variables in your parachute include its material, its size, and the length of its strings.
It is believed they were performing a Halo manoeuvre - which stands for high altitude and low opening - in which they jump a long distance from the target and parachute silently to the target area.
Having packed his own parachute, at 2pm on July 31, 2015, he went into freefall for approximately 19 seconds from 6,000ft above Dunkeswell Air-field.
Mr Montgomery said he was con-fident Mr Jones would have known how to rectify the parachute if he was conscious.
The global parachute market is expected to grow from an estimated USD 910.
A fast-thinking soldier, who was part of the British Army's freefall parachute display squad, swooped over to catch his struggling team-mate whose parachute had not opened properly.
HONOLULU, Sha'ban 22, 1436, Jun 9, 2015, SPA -- A parachute failed during a NASA test of new technology for landing larger spacecraft and eventually astronauts on Mars, the agency said Monday, according to AP.
AMAN arrested on suspicion of attempted murder after his wife's parachute failed to open during a skydive is a British Army sergeant.
A MAN has been arrested on suspicion of attempted murder after a woman's parachute failed to deploy during a skydive above Salisbury Plain, leaving her to plummet 4,000 feet to the ground.