ELI5: Explain Like I'm 5

Golden handshake

Imagine you are playing with your toys and your mom says it's time to clean up and go to bed. You don't want to stop playing, but your mom offers you a candy as a reward for cleaning up quickly. This candy is like a golden handshake.

A golden handshake is a reward that someone gets when they leave a job. It usually involves getting extra money or benefits. It's like a "thank you" gift for all the work they did while they were working at the job.

For example, if your dad worked at a company for many years and then decided to retire, his company might give him a golden handshake. This could be a large sum of money or other special benefits like healthcare coverage or a paid vacation.

So, basically, a golden handshake is like a reward for someone who worked really hard at a job and is now leaving. It's a way to show appreciation and say "thank you" for their hard work.