golden parachute
parachute par"a*chute, v. i. TO descend to th ground from an airplane or other high place using a parachute; as, when the plane stalled, he parachuted safely to the ground. [PJC]

{golden parachute} a generous set of financial benefits, including severance pay, provided by contract to a high-level corporate employee in the event s/he is dismissed or his/her job is lost in a corporate takeover or merger; also, the contract providing for such benefits.

{drogue parachute} a small parachute that is first released and opened in order to more reliably deploy a larger parachute. Also called {drogue}. [PJC]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • golden parachute — 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 …   Law dictionary

  • golden parachute — golden parachutes N COUNT 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. [BUSINESS] Golden parachutes entitle them to a full year s salary if they get booted out… …   English dictionary

  • golden parachute — n informal 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 …   Dictionary of contemporary English

  • golden parachute — noun count BUSINESS a promise to pay a senior manager a lot of money if they are forced to leave their job in the future …   Usage of the words and phrases in modern English

  • golden parachute — n. Informal a large sum of money or other compensation given as severance pay to a top executive who is dismissed from a corporation as a result of its being acquired by another company …   English World dictionary

  • Golden parachute — A golden parachute is a non contractual agreement between a company and an employee (usually upper executive) specifying that the employee will receive certain significant benefits if employment is terminated. Sometimes, certain conditions,… …   Wikipedia

  • Golden parachute — Compensation paid to top level management by a target firm if a takeover occurs. The New York Times Financial Glossary * * * golden parachute ˌgolden ˈparachute noun [countable] HUMAN RESOURCES an arrangement in which a senior employee of a… …   Financial and business terms

  • golden parachute — compensation paid to top level management by a target firm if a takeover occurs. Bloomberg Financial Dictionary * * * golden parachute ˌgolden ˈparachute noun [countable] HUMAN RESOURCES an arrangement in which a senior employee of a company will …   Financial and business terms

  • golden parachute — UK / US noun [countable] Word forms golden parachute : singular golden parachute plural golden parachutes business a promise to pay a senior manager a lot of money if they are forced to leave their job in the future …   English dictionary

  • golden parachute — noun giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover • Hypernyms: ↑shark repellent, ↑porcupine provision * * * noun, pl ⋯ chutes [count] : a large amount of money that a company… …   Useful english dictionary

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