golden handshake


Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia, Wikipedia.
Related to golden handshake: Flexi time

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 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

a golden handshake

1. A golden handshake is a large amount of money that someone is given if they are asked to leave a job before the normal age when they would leave. She offered me a golden handshake to get me to leave quietly, which I did.
2. A golden handshake is a large amount of money that a company gives to an employee when he or she leaves, as a reward for long service or good work. The officer retired with a golden handshake and a pension.
See also: golden, handshake

a golden handshake

a sum of money paid by an employer to a retiring or redundant employee.
On the same principle, the phrase a golden hello was coined in the late 20th century. It is explained in an Appointments section of the New Scientist in 1998 : ‘Employers…especially in the financial sector, are offering “golden hellos”. These are advances of up to £2000, sometimes given on acceptance of a job offer or with the first month's salary.’
See also: golden, handshake

a golden ˈhandshake

a large sum of money given to somebody when they leave their job, or to persuade them to leave their job: The directors will each get a large golden handshake and a pension.
See also: golden, handshake
References in periodicals archive ?
The minutes notes that the board was informed that a total of 168 employees served in the company and negotiated proposal was to offer four gross salaries for every year of service to employees opting for golden handshake.
Labour Research said its survey of firms' annual reports found 75 golden handshakes of pounds 100,000 or more, with some companies making more than one large pay-off in the year.
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.
The current Ipswich manager was axed by the club four years ago, after their relegation from the Premiership, but took City to the High Court and was successful in applying for a 'golden handshake' payment.
IS it true that the Assembly is planning to give old Labour councillors a golden handshake of pounds 10,000, in an attempt to bring in younger councillors?
So, in the few frantic hours that sealed the deal, United reluctantly agreed to give Stam a golden handshake.
Young activists - weeks ago loudly proclaiming their willingness to bring this regime down at all costs - are now stumbling through well-choreographed press briefings and referring to the events on March 9 as the 'Golden Handshake'.
My wife has accrued 25 years of hard, rewarding work - and it seems her small "golden handshake" has been taken away.
A COUNCIL whose chief executive left with a pounds 285,000 tax-free golden handshake have been savaged by local government watchdogs.
It's a fair bet that one of them will be receiving soccer's golden handshake soon, and the fact that George Burley is now available after quitting Hearts, having taken them to the top of the SPL, could speed up a decision.
A golden handshake of pounds 272,000 makes Neil Kinnock A FAT CAT and beneficiary of the EU subsidy system.
Local authority employees contemplating early retirement are unlikely to be awarded 'golden handshake' top-ups to their pension entitlement in future, the leader of Birmingham City Council warned yesterday.
TONY Blair's last major trade union loyalist, Roger Lyons, who is TUC President, is being given a severance package -- pounds 250, 000 golden handshake and a pension of two thirds his salary -- to quit his union, Amicus, early after a bust-up with a rival.
At least they're being moved with a golden handshake, with the option of later moving back into the area.
ASTON Villa have told Newcastle United they will sign out-of-favour Nobby Solano if they give the Peruvian winger a E1.5m golden handshake.