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| Golden parachute | |
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| GOLDEN PARACHUTE Definitions: i. (informal) Part of a work contract in which a business person is promised a large amount of money if they have to leave their job. ii. (business) An agreement to pay a large amount of money to a senior executive of a company if they are forced to leave their job. ______________________________________________________________________ * All six elements would be in. 1. Purposeful and necessary for the signatories to contract. 2. Provisions in contract or agreement are specific and identifiable. That is, terms under which payment will be made will be very clear. 3. Payment will not be actionable. That is, no court or industrial tribunal will entertain suit brought concerning matter. 4. Outcry, uproar, etc., if any, will have no effect on decision to pay out megabucks to the person or executive concerned. 5. Circumstances that will lead to premature departure will be compelling and indisputable. (To emphasize.) That is, who gets very large amount would have preferred to remain in paid employment. 6. A cost-benefit analysis, if undertaken after a payment, will reveal the wisdom in a pay-off. (Connect to #3.) _________________________________ See perfect GOLDEN HANDSHAKE. | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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