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.

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.

Common Names:

Name	Pronounced	Usage
Florrie	FLAWR-ee	English
Yakov	YAH-kahf (Russian)	Hebrew, Russian, Bulgarian
Mitsuko	mee-tsoo-ko	Japanese
Beatrice	be-ah-TREE-che (Italian), BEE-ə-tris (English), BEE-tris (English), BE-ah-trees (Swedish), be-ah-TREES (Swedish)	Italian, English, Swedish
NİDa	-	Turkish
Bakehouse	['beikhaus]