golden handshake

American  

noun

1. a special incentive, as generous severance pay, given to an older employee as an inducement to elect early retirement.

2. the giving or offering of such an incentive.

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golden handshake British  

noun

1. informal a sum of money, usually large, given to an employee, either on retirement in recognition of long or excellent service or as compensation for loss of employment

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golden handshake Idioms  

1. Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers. This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.

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Etymology

Origin of golden handshake

First recorded in 1955–60

Example Sentences

The virtuosity came in the form of a golden handshake, the documents show.

From Washington Post

He leaves with a golden handshake and a promise not to work for a competitor for two years.

From Reuters

"And then I saw the all important 'golden handshake' letter and it just blew my mind."

From BBC

Scudamore, the Premier League’s highest-paid executive, earned a basic salary in the low seven figures – news of the £5m “golden handshake” he received on his way out caused a brief furore in December.

From The Guardian

“We know there are people taking their golden handshake from us here and knowing that they have a job and then attacking us,” said Sidibé.

From The Guardian