Golden handshake

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A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement.[1] This can be in the form of cash, equity, and other benefits, and is often accompanied by an accelerated vesting of stock options. According to Investopedia, a golden handshake is similar to, but more generous than a golden parachute because it not only provides monetary compensation and/or stock options at the termination of employment, but also includes the same severance packages executives would get at retirement.[2]

 

Related Document

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Document:Labour ‘gagging orders’ put in place by McNicol – and gave hundreds of £1000s to alliesArticle16 July 2019Shadow Cabinet learns ‘non-disclosure agreements’ on disaffected ex-staff appearing on Panorama and talking to media were authorised by former General Secretary Iain McNicol – and enriched staff (considered to be his anti-Corbyn allies) by hundreds of thousands of pounds


References

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