An employment-contract provision that grants an upper-level executive lucrative severance benefits ¡ª including long-term salary guarantees or bonuses ¡ª if control of the company changes hands (as by a merger). Cf. TIN PARACHUTE. [Cases: Corporations 308(3). C.J.S. Corporations ¡ì¡ì 532¨C533, 536.]
How to translate the legal term golden parachute in Chinese?
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