golden parachute
noun
: a generous severance agreement for a corporate executive in the event of a sudden dismissal (as because of a merger)
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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
Recent Examples on the Web
Members of the transition are being accused of prioritizing their hold on power, and in some cases negotiate what critics describe as golden parachutes with cash payouts, ministerial appointments and immunity from charges of corruption.
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Jacqueline Charles, Miami Herald, 9 Jan. 2026
Landry further vowed that Kelly’s successor would not receive a similarly extravagant golden parachute.
—Daniel Libit, Sportico.com, 1 Dec. 2025
McCarthy and Robbins got sweet golden parachutes, but no one was paid to not work at Paramount as much as Bakish.
—Tony Maglio, HollywoodReporter, 19 Nov. 2025
Florida pushed Billy Napier out the door with a $21 million golden parachute.
—Sean Keeler, Denver Post, 1 Nov. 2025
See All Example Sentences for golden parachute
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Jacqueline Charles, Miami Herald, 9 Jan. 2026
Landry further vowed that Kelly’s successor would not receive a similarly extravagant golden parachute.
—Daniel Libit, Sportico.com, 1 Dec. 2025
McCarthy and Robbins got sweet golden parachutes, but no one was paid to not work at Paramount as much as Bakish.
—Tony Maglio, HollywoodReporter, 19 Nov. 2025
Florida pushed Billy Napier out the door with a $21 million golden parachute.
—Sean Keeler, Denver Post, 1 Nov. 2025
See All Example Sentences for golden parachute
Cite this Entry
“Golden parachute.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/golden%20parachute. Accessed 12 Mar. 2026.
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