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
References in periodicals archive ?
About 10 miles of Kevlar lines attach the spacecraft to the outer rim of nearly 12,000 square feet of parachute canopy material, which cannot get tangled during deployment.
Scientist: you give them the parachute and ask them to send you a report on how well it worked.
Drop the 'normal' parachute and time how long(*) it takes to hit the ground.
Further, the company states that this eliminates the need for multiple spirals or 'S-turns' at low altitude for glide control, and allows for extremely accurate landings from safer straight-in approaches: "The process of designing the Hi-5 first came with trying to solve a problem," said JC Berland, chief technology officer in one of the company's videos discussing the new parachute: "We had a really high-performance canopy, which was the Hi-Glide, but this parachute was not for every jumper.
How did your changes affect how well your parachute worked?
There have been many modern-day operations in which groups like the SAS have launched parachute assaults on targets across the Middle East so it is an essential part of training.
Mr Montgomery said he was con-fident Mr Jones would have known how to rectify the parachute if he was conscious.
Parachute rigger Andrew Shaw said he and a colleague had previously advised Mr Jones to "look at the way he packed" his parachute.
Another giant parachute also failed to inflate during a similar NASA test of new Mars spacecraft technology last year.
Police described how Mrs Cilliers' main parachute first failed to deploy, while her reserve parachute also failed but opened just enough to slow her descent from a fatal velocity before she crashed to the ground.
A MAN has been arrested on suspicion of attempted murder after a woman's parachute failed to deploy during a skydive above Salisbury Plain, leaving her to plummet 4,000 feet to the ground.
Competitors typically jump from a plane at 5,000 feet and then must maneuver the parachute, sometimes with twists and turns, to skim the surface of a pond between a series of buoys.
Senior warrant officer Sergey Basalov has had over 1000 parachute jumps in 22 years of service, so far this is a record for the airmobile forces of Kazakhstan, reports the Central Communications Service under the President of Kazakhstan.
After all he had broken the Guinness World Record for the smallest parachute jump at just 35 square feet.