0 a large payment made to someone who has an important job with a company when that person is forced to leave their job
1 a large payment made to an executive if they are forced to leave a company, for example, if it is bought by another company:
In the private domain one gets a golden parachute.
Also, the company is prohibited from making golden parachute payments to a senior executive.
Miroljub is a skydiving instructor, he has been awarded the golden parachute mark since 2004.
He later became embroiled in controversies and lawsuits about his allegedly excessive pay package and $140 million golden parachute.
The local union paid him a golden parachute valued at $140,000.
Executive benefits (e.g. golden handshake and golden parachute plans), exceed this level and are taxable.
The exception to the general rule includes certain executive benefits (e.g. golden handshake and golden parachute plans) or those that exceed federal or state tax-exemption standards.
He left in 2007 in what was considered a surprise move, becoming a barrister again, and receiving a golden parachute package of approximately either 87,000 or more than 200,000.
