An executive compensation package that offers additional benefits designed to encourage early retirement.
a lucrative severance agreement offered to an employee (usually as an incentive to retire)
An early retirement incentive program that provides you with additional age or years of service credit enabling you to receive a higher retirement benefit than otherwise possible.
A large payment to a senior employee who is forced into retirement or fired as a result of a takeover or simular development.
A final payment or benefit paid to an employee on leaving his/her employment.
a large cash sum, some of which will be tax free, paid to employees who leave, usually not of their own accord, before the end of a service contract.
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement. This can be in the form of cash, equity, and other benefits, and is often accompanied by an accelerated vesting of stock options.