Children's, Intermediate and Advanced Online English Dictionary & Thesaurus

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golden parachute

golden parachute

 
pronunciation:
gol dn pae r shut
part of speech: noun
definition: (informal) a contract or agreement that guarantees top executives of a company severance pay or other compensation in the event that they lose their jobs as a result of an acquisition by or merger with another company, or the severance pay so offered.