# golden parachute

idiom

Source: https://englishreference.com/idiom/golden-parachute
Updated: 2026-08-10

## Meaning

An agreement between a company and an employee, usually an executive, specifying that the employee will receive certain significant benefits if employment is terminated.

## Examples

- The CEO received a golden parachute when he left the company.
- Many employees were angry that the departing executive received a massive golden parachute while the rest of the staff faced layoffs.
- Critics often argue that a generous golden parachute encourages reckless risk-taking by executives, as they remain financially protected even if their strategic decisions lead to corporate failure.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.