from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun An employment agreement that guarantees a key executive lucrative severance benefits.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun idiomatic, business An
agreementbetween a companyand an employee, usually an executive, specifying that the employee will receive certain significant benefitsif employment is terminated.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover
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