- golden parachute
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gold·en para·chute n: an agreement providing for generous compensation to an executive upon dismissal (as because of a merger)
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- golden parachute
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An agreement by a corporation with an executive to provide substantial payments to the executive in the event of a change in ownership or early retirement.Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Personal Finance & Retirement → Taxes → Tax Audits
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- golden parachute
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See golden handshake.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- golden parachute
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An agreement that provides key executives with generous severance pay and other benefits in the event that their employment is terminated as a result of a change of ownership at their employer corporation; known more formally as a change-of-control agreement.
Dictionary from West's Encyclopedia of American Law. 2005.
- golden parachute
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An agreement that provides key executives with generous severance pay and other benefits in the event that their employment is terminated as a result of a change of ownership at their employer corporation; known more formally as a change-of-control agreement.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.