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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 ?
By type, the global military parachute market has been segmented into round parachutes, ram-air parachute, square or parafoil parachute, and others.
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.
Parachute Association- to be a tandem instructor or by any manufacturer of tandem skydiving equipment," Ed Scott, Executive Director for the U.S.
The status of the soldiers on the parachute due to lack of wind, will fall faster than usual, the original parachute time is 60 seconds.
Larger parachutes must withstand much higher overload due to high air resistance during take-off.
The toll does not include one soldier who was killed taking part in his first day of parachute jumping after becoming entangled with another rookie.
Details of the incident indicate that a Sky-Van jetliner belonging to the civilian Ayit company and participating in a parachuting exercise of parachute jump instructors transported a cluster of 16 paratroopers.
Explain that we can use the toy as a model to help us learn about how real parachutes work.
Define the Problem: Working in pairs, build a parachute to slow the fall of a metal washer that is released from 2 meters up.
The boyhood memories were very similar to his as I too used to watch the parachute training and the men involved using the basket suspended beneath the barrage balloon.
Parachute assisted landing is one of the ways that SpaceX is testing, with the other being propulsive landings, which was seen in a video that was published last week.
The BPA has recommended that parachutists should be reminded of the importance of packing their parachutes correctly.
During the test, engineers demonstrated that when the spacecraft is traveling faster than planned during the descent, Orions parachutes can properly deploy and withstand high-inflation loads.
NASA said it is inviting media to attend a test of the Orion spacecraft's parachutes on Wednesday, Aug.