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Golden Handshake |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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Golden handshake A large payment to a senior employee who is forced into retirement or fired as a result of a takeover or simular development. Golden Handshake A clause in a high-ranking executive's hiring contract describing a lucrative severance package once the executive leaves the company. The package often includes cash and stock options worth millions of dollars, as well equity in the company. The executive is normally eligible for a golden handshake regardless of the circumstances under which he/she left the company, whether retirement, redundancy brought about from a merger or acquisition, or termination for mismanagement. Controversy surrounding the practice tends to increase in times of increased mergers, as well as in economic downturns. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The one-page document outlines eight major areas on which Stuckey is to report by April 29 as part of the golden handshake approved by the Los Angeles City Council last month in the face of his threat to sue over being fired by Mayor Antonio Villaraigosa. After an initial flurry of projects--including a golden handshake commission at Hopkins' offices in Marylebone--Snell Associates has been relatively quiet. If your school district never has offered the golden handshake, you will receive a barrage of questions from your employees, probably under a cloud of suspicion. |
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