| The New Dictionary of Cultural Literacy, Third Edition. 2002. |
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| golden parachute |
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| A generous package of benefits offered to an employee as an inducement for early retirement or departure from a company: “Following the merger, many executives decided to leave after the offer of a golden parachute.” | 1 |
| ‡ The term golden handshake means essentially the same thing: “The principal accepted the golden handshake in lieu of being demoted to assistant principal.” | 2 |
| ‡ Both expressions are from the last quarter of the twentieth century, when such packages were offered frequently. | 3 |
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| | | The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
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