Golden parachutes

Golden parachutes

Employee severance arrangements that are triggered whenever a change in control takes place.

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Part of Speech: noun
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Industry/Domain: Banking; Business services
Category: Mergers & acquisitions
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Related terms

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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, ...

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

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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 ...

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