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Concept information

social science subjects > business and management > business ethics > employee issues in business ethics > golden parachutes

Preferred term

golden parachutes  

Definition

  • A golden parachute is a provision in an employment contract that grants lucrative severance benefits to an executive if control of the company changes hands, as by a merger. Most definitions offered by legal authorities stress three elements: (1) a lucrative or attractive severance package, (2) available to a few selected senior executives, (3) in a change of control situation for the company. [Source: Encyclopedia of Business Ethics and Society; Golden Parachutes]

Broader concept

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URI

http://data.loterre.fr/ark:/67375/N9J-BR4GZB7K-4

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