Golden parachute

Golden parachute

Payments made to business executives in excess of their usual compensation (e.g., stock options, bonuses) in the event the business is sold and the executives are terminated from employment.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Accounting
Category: Payroll
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Collect to Blossary

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Related terms

golden parachute

Printing & publishing; Publishing

Colloquial expression for a clause in the employment contract of a senior executive that provides financial and other benefit guaranties if a change of corporate ownership, ...

golden parachute

Accounting; Payroll

Payments made to business executives in excess of their usual compensation (e.g., stock options, bonuses) in the event the business is sold and the executives are terminated from ...

golden parachute

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A contractual arrangement between a key employee and the company that provides for the payment of a large bonus or other payment to the employee upon the occurrence of certain ...

golden parachute

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Compensation paid to top-level management by a target firm if a takeover occurs.

golden parachute

Business administration; Business management

(1) An American golden handshake. (2) A relatively large sum paid to the directors of the losing company in a take-over bid should they suffer redundancy. No such provision is ...

golden parachute

Law; General law

An employment contract or termination agreement that gives a top executive a big bonus or other major benefits if the executive loses his or her job (usually due to a change in ...

annual wage reporting (AWR)

Accounting; Payroll

Social Security Administration’s system of recording wages reported annually by employers on Form W-2.

statutory nonemployees

Accounting; Payroll

Special groups of workers who may qualify as common law employees but are treated under the law as independent contractors (e.g., qualified real estate agents and direct sellers) ...

taxpayer identification number (TIN)

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social security number or employer identification number, which serves as the taxpayer’s account number with the IRS.

wage orders

Accounting; Payroll

State agency directives that set wage and hour standards, usually for specific industries.

paycard

Accounting; Payroll

Stored-value debit cards funded by employers with employees' pay. Workers can access their pay by using the cards to withdraw cash or make purchases.

withholding

Accounting; Payroll

Subtracting amounts from an employee’s wages for taxes, garnishments or levies, and other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid ...