The survey indicated a decline in use of a golden parachute
clause by 10 percent, which was second to non-solicitation clause, down 17.
Why should your bank's CEO get a golden parachute
while the rest of the bank nose dives?
A golden parachute
plan is generally a compensation arrangement that provides special severance benefits to executives in the event that the corporation changes ownership and the covered executives are terminated.
And should Mayor Antonio Villaraigosa ultimately gain control of the district and fire him, Brewer is guaranteed a golden parachute
For an executive, a golden parachute
is a very good severance package.
WHEN energy boss Sir Richard Giordano left energy outfit BG group, he didn't just get a golden parachute
but an office to match.
Under IRC section 280G, a golden parachute
payment is one made to a disqualified individual (executive) contingent on a change in ownership of the business and greater than three times the individual's base compensation.
A parachute payment is considered to be conditioned on a change in ownership or control if the payment would not have been made to the disqualified individual if no change in ownership or control had occurred; the existence of additional justifications for the payment will not save the agreement from being designated a golden parachute
Judith Droz Keyes, Partner, Morrison & Foerster LLP - "Strategizing a Golden Parachute
There's no question that the commission's decision to grant Larry Keller a golden parachute
of up to $500,000 is, on its face, patently offensive to taxpayers,'' Villaraigosa said.
WHEN energy boss Sir Richard Giordano left BG Group, he didn't just get a golden parachute
but an office to match.
The IRS did specify four types of payments that would not be considered part of a golden parachute
and would not be subject to penalty, regardless of their size.
Shebar of MVA Rehabilitation Center as a golden parachute
, that is another $.
In many cases, the sole justification for these boards and commissions seems to be to allow politicians to reward supporters and to provide a golden parachute
for defeated or termed-out cronies, who otherwise would be looking for a job.
Eleven years ago, the Board of Supervisors approved an employee benefits package that included various perks for elected officials, including a golden parachute
for when they left office.