GOLDEN BUNGEE

Benefit awarded to chosen top executives providing severance package, as well as deferred cash payment and stock options in order to entice them to stay with the company. This is part of an executive’s employment agreement that takes effect upon a change of control such as acquisition of the firm or merger with another company. It can be viewed as a combination of a golden parachute, severance package and golden handcuff, deferred cash payment and stock options.