Definition
Golden parachute (Ro.: clauza de despagubire in cazul denuntarii contractului de mandat de catre societate)(See also: compensation for loss of office, golden handshake, severance packages) = an agreement by which the employer is obliged to compensate an employee (usually an executive of a company) by paying him/her a package in case of termination of employment determined by change in ownership or control of the company.
Useful resources
Legislation
https://www.law.cornell.edu/uscode/text/26/280G - Golden Parachute in U.S. Code [English]
https://www.fdic.gov/regulations/laws/rules/1000-2000.html#fdic1000sec.18k - The Federal Deposit Insurance Act, Section 18 (k) [English]
http://www.legislation.gov.uk/ukpga/2006/46/part/10/chapter/4/crossheading/payments-for-loss-of-office - UK Companies Act 2006 – Payments for loss of office [English]
Case Law
http://courts.delaware.gov/opinions/download.aspx?ID=77400 - Delaware Supreme Court, In re Walt Disney Co. Derivative Litigation, 2005
Online Publications
http://scholarship.law.marquette.edu/cgi/viewcontent.cgi?article=1921&context=mulr - Coffey, Peter L., 1984, Golden Parachutes: A Perk that boards Should Scrutinize carefully, Marquette Law Review, Volume 67, Issue 2
http://scholarworks.law.ubalt.edu/cgi/viewcontent.cgi?article=1565&context=ublr - Storss, Alvin L., 1990, Golden Parachute Payment under Proposed Treasury Regulation Section 1280G-1: Analysis and Recommended Changes, University of Baltimore Law Review, Volume 19, Issue 3
https://kb.osu.edu/dspace/bitstream/handle/1811/64037/OSLJ_V51N1_0279.pdf?sequence=1 - Campbell, Drew Harrison, 1990, Golden Parachutes: Common Sense from the Common Law, Ohio State Law Journal, Volume 51, Issue 1
http://stetson.edu/law/lawreview/media/golden-parachute-tax-provisions-fall-flat-tax-gross-ups-soften-their-impact-to-executives-and-square-d-overinflates-their-coverage.pdf - Hankinson, Jamie Dietrich, 2005, Golden parachute tax provisions fall flat: tax gross-ups soften their impact to executives and Square D overinflates their coverage, Stetson Law Review, Volume 34
https://open.library.ubc.ca/cIRcle/collections/831/items/1.0077640 - Nussbaum, Matthias, 2005, Golden handshakes and golden parachutes: severance packages for corporate executives, UBC Theses and Dissertations
https://sydney.edu.au/law/slr/slr27_4/Stapledon.pdf- Stapledon, Geof, 2005, Termination Benefits for Executives of Australian Companies, Sydney Law Review, Volume 27:683
http://openscholarship.wustl.edu/cgi/viewcontent.cgi?article=1258&context=law_lawreview- Stras, David R., Scott, Ryan W., 2005, Retaining Life Tenure: The Case for a Golden Parachute, Washington University Law Review, Volume 83, Issue 5
http://www.nylslawreview.com/wp-content/uploads/sites/16/2013/11/52-4.Lederman.pdf - Lederman, Lawrence, 2007, Disney Examined: A Case Study in Corporate Governance and CEO Succession, New York Law School Law Review, Volume 52
https://msbfile03.usc.edu/digitalmeasures/fiss/intellcont/Fiss%20Kennedy%20Davis%20Org%20Science%202012-1.pdf - Fiss, Peer C., Kennedy, Mark T., David, Gerald F., 2012, How Golden Parachutes Unfolded: Diffusion and Variation of a Controversial Practice, Organization Science, Volume 23, Number 4
Publications
McGee, Robert W., 2008, Corporate Governance in Transition Economies, Springer Science + Business Media, p. 82
Kieff, F. Scott, Paredes, Troy A., 2010, Perspectives on Corporate Governance, Cambridge University Press, p. 205
Bodolica, Virginia; Spraggon, Martin, 2015, Mergers and Acquisitions and Executive Compensation, N.Y.: Routledge, p.124