Get the FREE one-click dictionary software for Windows
or the iPhone/iPad and Android apps
Noun: golden parachute
Usage: informal
  1. Giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
    "The CEO's contract included a golden parachute worth millions in case of a change in control"

Derived forms: golden parachutes

Type of: porcupine provision, shark repellent

Encyclopedia: Golden parachute