Golden parachute

A golden parachute is a special kind of agreement between a company and an executive. It's a way of ensuring that the executive will be taken care of if the company goes out of business or if the executive is fired without cause. The executive usually gets a severance package, which means they get money, stock options, and other benefits even though they are no longer working with the company. It's a bit like a parachute—it's there to cushion the fall if something bad happens.