Golden parachutes

Resource type: Practice note

Status: Maintained

Jurisdictions: England, Wales

This practice note provides an explanation of the term "golden parachute" and the issues that need to be taken into account by an employer considering whether to enter into a contract with a director which contains a golden parachute clause where there is a change of control.

Nicholas Robertson and Elizabeth Hodgkinson, Mayer Brown International LLP

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Resource ID: 6-201-6322
Products: PLC UK Employment, PLC UK Public Sector
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Related content

Topics

Contracts of EmploymentContracts of Employment (http://employment.p02del.practicallaw.com/9-103-1223)
DirectorsDirectors (http://employment.p02del.practicallaw.com/7-200-0622)
Termination of EmploymentTermination of Employment (http://employment.p02del.practicallaw.com/1-103-1222)

Practice notes

Acting for an employee entering into an employment contract Acting for an employee entering into an employment contract (http://crossborder.practicallaw.com/topic8-200-2121)
Dismissing a senior executive Dismissing a senior executive (http://crossborder.practicallaw.com/topic2-200-2162)
Taxation of termination payments Taxation of termination payments (http://crossborder.practicallaw.com/topic0-200-2422)

Standard clause

Change of control clauses Change of control clauses (http://crossborder.practicallaw.com/topic8-203-1642)

Glossary

Change of control clause Change of control clause (http://crossborder.practicallaw.com/topic5-107-5884)
Golden handshake Golden handshake (http://crossborder.practicallaw.com/topic1-107-6654)
Golden parachute Golden parachute (http://crossborder.practicallaw.com/topic6-107-6656)
Liquidated damages Liquidated damages (http://crossborder.practicallaw.com/topic7-107-6769)

External resource

Best practice on executive contracts and severance - a joint statement by the ABI and NAPF Best practice on executive contracts and severance - a joint statement by the ABI and NAPF (http://crossborder.practicallaw.com/topic8-203-4985)

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Golden parachutes

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