|
Definition |
a generous compensation package as a form
of financial safety net |
Examples |
1) The CEO received a golden parachute
worth $10 million when he was fired.
2) The government is considering legislation that would limit the size
of golden parachutes. |
Etymology |
It is an aviation term dating back to the
1960s to metaphorically mean safe landing. |
Synonyms |
golden handshake, golden umbrella |