parachute

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Related to parachutist: Parachutist Badge

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

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, 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 ?
Mrs Ewart said: "It all happened so quickly - in fact we're all still in shock about it now - but I remember the parachutist flying really low over our heads.
Before the test parachutist ever receives a parachute for final analysis, the egress systems go through a series of trials and tests by NAVAIR engineers at China Lake, Calif.
The pensioner was flown to Southmead Hospital in Bristol with a broken pelvis and the parachutist suffered a broken wrist.
Retired paramedic Chris Tomlin, 56, said the parachutist was jumping as part of the Cockerham Gala which takes place in the village every year.
Turkish military has started to train parachutists on the ground, instead of freefalling in the sky.
The fifth parachutist later hiked back down, along with two rangers who were on top of the mountain, said Scott Gediman, a spokesman for the park.
And in May 1997, student parachutist Mr Andrew Kenyon, aged 30, was killed on his first parachute jump at Cockerham near Lancaster.
RED FACED The Red Devil parachutist is freed from roof
A TENNIS player has launched a legal action after she was knocked cold on court - by an Army parachutist.
One parachutist got tangled in a tree, fell face-first to the ground and was taken to the hospital but suffered only minor scrapes to the forehead and arms and was expected to be released Saturday, a hospital spokeswoman said.
A parachutist died during a jump when his reserve chute accidentally opened.
One parachutist was taken to hospital by ambulance.
A PARACHUTIST arrested after leaping from New York's World Trade Centre is suing a tabloid TV show for pounds 1.
He said the missing parachutist was very experienced and competent.
A TOP RAF parachutist dressed in a Santa suit was badly injured yesterday when he crashed into a football stand during a half-time display.