golden handshake

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Definitions from WordNet

Noun golden handshake has 1 sense

golden handshake - a lucrative severance agreement offered to an employee (usually as an incentive to retire)
--₁ is a kind of severance agreement

Definitions from the Web

Golden Handshake

Definition:

A golden handshake refers to a generous financial agreement or benefit given to an employee, typically a high-ranking executive or a long-serving employee, upon their departure from a company. It is a form of voluntary or involuntary severance payment that aims to reward their service and facilitate a smoother transition.

Senses:

Noun: A financial package offered to an employee as an incentive to retire or leave their employment.
Verb: To provide a generous financial settlement or package to an employee upon their departure.

Sample Sentences:

The CEO was awarded a golden handshake of $10 million upon his retirement.
Due to the company's financial struggles, several employees were given golden handshakes as a cost-cutting measure.
The disgruntled executive sued the company for not receiving a golden handshake after being laid off.