golden parachute
noun
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The Gilded History of Golden Parachute
In 1981 an employee of a major company undergoing a corporate merger referred cynically to the huge severance packages given ejected executives as "golden parachutes." It isn't clear whether the employee actually coined the term, but it is well documented that both "golden" and "parachute" were already part of corporate parlance by that time. Since the 1960s, the business world had been using "golden handshake" for a compensatory package accompanying a termination or forced retirement. The image of the parachute, evoking a comfortable and painless landing, may have been inspired by the popular book about career change by Richard Bolles, titled What Color Is Your Parachute?
Examples of golden parachute in a Sentence
Tony Maglio, IndieWire, 12 June 2024
During Paramount’s 44-minute shareholder meeting, several investor proposals, including measures to provide clarity on the use of artificial intelligence and restrictions on golden parachutes for key executives, were rejected.
—Meg James, Los Angeles Times, 4 June 2024
Just before Thanksgiving, before the Zaslav meeting, before any rumors of a Skydance dance, Paramount stock rallied thanks to a golden parachute.
—Alex Weprin, The Hollywood Reporter, 4 Jan. 2024
Executives at Paramount, including CEO Bob Bakish, reportedly renegotiated their compensation packages to include a golden parachute clause in case of a change of ownership.
—Paolo Confino, Fortune, 11 Dec. 2023
See all Example Sentences for golden parachute 
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'golden parachute.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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“Golden parachute.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/golden%20parachute. Accessed 26 Jul. 2024.
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