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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 ?
The annual World Military Parachuting Championship had so far been held exclusively in Europe and the United States until this year.
The majority of parachuting mishaps caused by human error can be placed into two groups: mistakes caused by a lack of (or insufficient) training, and mistakes caused by trained, expert jumpers who have grown complacent.
Having a direct liaison between the detectives involved in the case and the parachuting environment is a great advantage to the enquiry.
A devasted couple today paid tribute to their "fantastic" daughter who was killed in an horrific parachuting accident.
He was a member of the RMCS Black Rain team who in May won a parachuting contest at the Borders Parachute School in Northumberland.
Dressed in uniform of peaked cap, knickerbocker suit and high-legged boots, Dolly joined Captain Gaudron's parachuting team at the Palace and for nine years entertained the crowds with her descents while sitting on a sling and gripping a trapeze bar.
Linkletter said it was an off-duty Huntington Beach police officer who saw the men parachuting out of the plane and called the U.
This sub-committee meets three times a year and is currently tasked with reviewing the existing risk management measures in use in the industry, the emphasis being on sport parachuting and sport parachute equipment manufacturers.
Beijing, Oct 13 (ONA) The National Parachuting Team of the Sultan of Oman Parachutes at the Royal Army of Oman (RAO) clinched the third place game in Accuracy Landing and Rotation, among the twenty-two States in the Asiania Parachuting Championship hosted by the People's Republic of China during October 3rd-12th.
The "pivotal" piece of equipment will help soldiers master the a rt of parachuting by showing them exactly what it is like lining up in the back of the plane, jumping out and landing safely.
parachuting injuries have increased because, the current T-10 parachute system that has been in use since the 1950s, is not designed to carry the weight that modern-day soldiers need to carry during airborne operations.
After parachuting from their damaged balloon, the men were blown about on the ground by stiff winds, Griego said.