golden handshake


A large payment made by a company to a senior executive upon termination of employment before his/her contract ends.

Use golden handshake in a sentence

After decades of faithful service, few complained when the retiring CEO got the proverbial golden handshake upon his leaving the company.

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The director of my region has been around for a long time, but new blood was needed in the firm and the cost of waiting for her to retire would be too great, so the company gave her a golden handshake and sent her on her way with seven figures before the end of her contract.

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When James Smith was ushered out as CEO of DigiCorp the Golden Handshake he had with the board of trustees ensured he never had to worry about working again, and included 5 years severance and a lucrative stock portfolio.

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