Golden Handshake

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Also known as a golden parachute. Financial benefits provided to employees (usually senior employees or directors) on leaving their employer. Such provisions may be: A long fixed-term contract giving rise to damages in the event of early termination Payment of a fixed sum in the event of employer repudiation or non-renewal of a contract The option to resign and claim …

Golden Parachute

TigercubGW Leave a Comment

Also known as a golden handshake. Financial benefits provided to employees (usually senior employees or directors) on leaving their employer. Such clauses run the risk of being held unenforceable as a penalty if they are payable on breach of contract and do not genuinely pre-estimate the loss that an employee may suffer. Approval of such clauses by directors may also …