parachute

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Related to parachutist: Parachutist Badge

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 ?
An air ambulance landed on the field by nearby Shotton Primary School to transport the parachutist to Teesside for treatment.
Just like the saying "Guns don't kill people, people kill people." Parachutes don't kill parachutists, parachutists do!
And a relieved Magilton said: "I've never seen a parachutist land on the roof - even in my days growing up in Belfast!
The ceremony also signs the passage among the incoming task force, based on the III Bandera de Infanteria Paracaidista, belonging to Parachutist Brigade "Almogvares and the soldiers of the VII Bandera de Infanteria Legionaria, belonging to Legion Brigade Rey Alfonso XIII.
Her awards and decorations include the Defense Meritorious Service Medal (2nd OLC), the Meritorious Service Medal, the Joint Service Commendation Medal, the Army Commendation Medal (3rd OLC), the Joint Service Achievement Medal, the Army Achievement Medal, Master Parachutist Wings, Canadian Parachutist Wings, Australian Parachutist Wings and the Air Assault Badge.
Each test parachutist realizes the strain their operational commitments place on their families, yet they continue to strap on a chute, step up to the door and jump because they believe that what they do today is not only saving lives, but going beyond.
A "high finance" list is marked by a slot machine icon, travel links by a parachutist. Many pages offer an e-mail link to Sechler.
The JPADS use a GPS to basically do what a free fall parachutist would do, said Mulvey, a Cherryville, North Carolina native.
Ursula Hernandez, a 47-year-old tourist from Mexico City, fell to her death after hitting another parachutist in mid-air over Puerto Escondido, a resort town in southwest Mexico.
11:27 Lucky escape for parachutist A parachutist had a lucky escape after narrowly avoiding landing on a busy motorway.
A PARACHUTIST from South Wales has died in a tragic accident at a Devon airfield.
MYSTERY last night surrounded a microlight plane or parachutist seen landing on a beach on Christmas Day.
Jules McConnel, who took part in the endeavour with fellow parachutist Michael Vaughan, said he was shocked to reach the goal in the time span they did, saying it was a lot easier than he thought it would be.
Thanks to the vertical wind tunnels, the duration of parachutist training will down to 6 months compared to conventional training conducted in the sky that lasts up to 5 years.