Management Glossary

  Search Results: golden parachute
golden parachute
Terms included in an executive's employment contract that provide rich rewards (such as severance pay, company stock or options, bonuses and/or continuation of benefits, etc.) should an event occur, such as the sale of the company, that results in the loss of the executive's job. Under some circumstances those rewards may be paid even if the departure is the executive's choice rather than being forced on him or her.
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