golden parachute

English - Turkish

Definition of golden parachute in English Turkish dictionary

(Ticaret) altın paraşüt

English - English

Definition of golden parachute in English English dictionary

An agreement between a company and an employee, usually an executive, specifying that the employee will receive certain significant benefits if employment is terminated

An employment agreement that guarantees a key executive lucrative severance benefits if control of the company changes hands followed by management shifts

A golden parachute is an agreement to pay a large amount of money to a senior executive of a company if they are forced to leave. Golden parachutes entitle them to a full year's salary if they get booted out of the company. An employment agreement that guarantees a key executive lucrative severance benefits if control of the company changes hands followed by management shifts. part of a business person's contract which states that they will be paid a large amount of money if they lose their job, for example if the company is sold

package of benefits and compensations guaranteed to be paid in case of job loss (usually included in job contracts of top executives)

giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover

Related Terms

golden parachutes

plural form of golden parachute

A golden parachute

golden umbrella

Hyphenation

gold·en par·a·chute

Turkish pronunciation

gōldın perışut

Pronunciation

/ˈgōldən ˈperəˌsʜo͞ot/ /ˈɡoʊldən ˈpɛrəˌʃuːt/

Etymology

[ 'gOl-d&n ] (adjective.) 13th century. Middle English.