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..