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

golden parachute

An employment agreement that gives generous benefits to its high-ranking executives if they are dismissed owing to a company merger or takeover. This term, dating from about 1980, may have been based on the older golden handshake, which offers an employee generous benefits or a bonus in exchange for early retirement. It dates from the mid-1900s, when a dwindling school population prompted many localities to offer such an incentive to teachers. In contrast, golden handcuffs are a financial incentive to keep an employee from leaving a company. Stock options that can be exercised only far in the future are a popular form of golden handcuffs. This term dates from about 1970.
See also: golden, parachute
References in periodicals archive ?
The global military parachute market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Although decades of anecdotal experience have suggested that parachute use during jumps from aircraft can save lives, many studies of parachutes have suggested injuries related to their use in both military and recreational settings.
[23] suggested using airbag systems as a shock absorber for UAVs to assist with rapid parachute landings.
The MoD admitted that 230 members of the Parachute Regiment - whose "Utrinque Paratus" motto translates as "Ready for Anything" - were "not qualified" as military parachutists.
Doctor: you tell them you need to run more tests, then take the parachute in order to make your next appointment.
"I looked up, that's when I saw a parachute. It took me a while to see that it was a reserve that was malfunctioning.
For example, What does shape have do to with the falling of the parachute?
The TSO C23B regulations cover standard and low speed parachute categories (see below), while the standard sets no legal limits on parachute gross weight or deployment speed, manufacturers specify reasonable physical limits, Mr.
The company said it has been selling the Peregrine UAV ballistic parachute system for some time with the Raptor CO2 release.
Define the Problem: Working in pairs, build a parachute to slow the fall of a metal washer that is released from 2 meters up.
TWO British servicemen cheated death after colliding mid-air during a parachute training jump.
The parachute test was one of many that the company needs to pass, before it is ready to send astronauts to space in the Crew Dragon.
ARESPECTED teacher died after being knocked unconscious when his parachute opened too quickly, an inquest has heard.
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.