What is Golden Parachute?
1.
A clause in an executive's employment contract specifying that he/she will receive large benefits in the event that the company is acquired and the executive's employment is terminated. These benefits can take the form of severance pay, a bonus, stock options, or a combination thereof.
Larry Johnston, the biggest douche bag in the world is getting a 120 million dollar golden parachute for destroying Albertsons, one of the largest grocery chains in America.. Fuck him..
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