- an employment contract or agreement guaranteeing a key executive of a company substantial severance pay and other financial benefits in the event of job loss caused by the company's being sold or merged.
- a clause in the employment contract of a senior executive providing for special benefits if the executive's employment is terminated as a result of a takeover
More Definitions
- PLUMED (noun) Definition, Meaning & Examples
- UNDER THE WIRE (noun) Definition, Meaning & Examples
- CUE BALL (noun) Definition, Meaning & Examples
- ELEMI (noun) Definition, Meaning & Examples
- STABILIZATION PRINT (noun) Definition, Meaning & Examples
- COMMERCIAL PILOT (noun) Definition, Meaning & Examples
