golden parachute
📖 Definitions
noun
An agreement to pay generous compensation to a company executive if dismissed.
💬 Usage Examples
“His faux optimism only made Brooke wonder how big a golden parachute the new owners must have opened for him. He was no doubt making a soft landing into a pile of several million dollars.” Talia Carner; Hotel Moscow; William Morrow; 2015. “The documentary spends a lot of time on Adam Neumann, who ended up with a $1.7 billion golden parachute.
Through various interviews with reporters, customers, and employees, the documentary tries to characterize the man. But my favorite characterization comes from Neumann himself. A montage of clips from public interviews shows Neumann repeatedly telling the same story about what his wife Rebekah once told him: ‘You have a lot of potential, but you’re full of shit.’” Danielle Abril; WeWork’s Distorted Reality; Fortune; Apr 8, 2021.