Found 2 items, similar to golden parachute.
English → English (WordNet) Definition: golden parachute golden parachute n : giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
English → English (gcide) Definition: 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]