Definition: a Golden Parachute is a form of employee benefits or executive compensation, wherein the executive is provided with a lucrative severance package in the event of job termination, for example in case of a takeover by an acquiring company. A GP may include a continuation of salary, bonus and/or certain benefits and perquisites, as well as accelerated vesting of stock options.
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More on compensation and benefits: Broadbanding, Competency-based Pay, Employee Benefits, Executive Compensation, Golden Handcuff, more...
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