golden parachute

/ˌgoʊldən ˌpɛrəˈʃut/
IPA guide

Definitions of golden parachute
  1. noun
    giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
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    type of:
    porcupine provision, shark repellent
    a measure undertaken by a corporation to discourage unwanted takeover attempts
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