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golden parachute clause

noun

Definitions of golden parachute clause

  • an agreement between a company and an employee (usually a top-level executive) under which the employee will receive certain benefits if employment is terminated (sometimes used to prevent takeovers)

    "Frequently, golden parachute clauses contain language that states these benefits may only be available if the company is taken over by another company."

Phrase Bank for golden parachute clause

Additional Notes for golden parachute clause

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