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Dead Hand Provision

   Also found in: Wikipedia 0.18 sec.
Dead Hand Provision
A stipulation on a defense mechanism or poison pill used by companies in order to protect against a merger or takeover by another company. The dead hand provision prevents the removal of the poison pill even if shareholders of the target company favor the takeover.

Notes:
A dead hand provision states that only the original directors who put the provision into place can dismantle the pill, so any new directors are prevented from interfering.
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Last Friday the company announced that it had removed the `dead hand' provisions from its poison pill, but the board retained the poison pill itself and the right to reinstate the dead hand provisions at any time without shareholder approval.
French and Coulson Criticize SLAM's Governance "smokescreen" by Business Wire
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