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..
by Kritikal June 5, 2006
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An obscenely brobdingnagian severance package to an incompetent corporate executive who has been dismissed due to an egregious act(s) of greed. Golden parachutes, often ranging in the billions of dollars, are given to CEOs who have eliminated/raided the employee pension fund, closed work places due to massive oversea outsourcing or wall st. bankers stealing the equity out of hard working Americans' homes, dealing a death blow to the American dream.
Politicians oppose any type of aid or break for Americans because their own golden parachutes insure that themselves and their family maintain a standard of living which few Americans can afford or will ever know for themselves.
by Lou Daveeko November 7, 2016
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When a guy stands up and proceeds to urinate all over the sheets while his female companion is sleeping underneath them.
"I woke up with a morning boner and the bitch wouldn't fuck me so I gave her the Golden Parachute and then left for work"
by Sir Fraz November 14, 2008
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When a man gets naked, lays on his back, stretches out his sack to make a bowl shape out of his sack. Once the bowl is formed he must urinate on himelf and try to make as much urine into the bowl as possible. Now, maintaining positive control of the sack you must stand up, walk up to somebody and splash the urine on the person preferably a woman who is being an extreme ass hole!!!
by nasty bitch!!! March 24, 2011
When your boy friend pisses on your umbrella and you jump off the roof with it on to a massive dildo.
Dave didn't make it to the golf tournament today, he suffered a broken leg from performing a Golden Parachute last night.
by MeanJoeGreen1979 June 13, 2015
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A CEO who gets a fat paycheck after running a company into the ground.
Marge lost her 401K and all her company stock was worthless but the Golden Parachute Punk who drove the company into bankruptcy got a severance package of 20 million...the douche.
by Brett Burkhardt April 27, 2008
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