Meaning of the word "golden handshake" in English

What does "golden handshake" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

golden handshake

US /ˈɡoʊl.dən ˈhænd.ʃeɪk/
UK /ˈɡəʊl.dən ˈhænd.ʃeɪk/
"golden handshake" picture

Noun

a large payment made to an employee when they leave their job, especially when they are forced to leave or retire early

Example:
The CEO received a substantial golden handshake after the company merger.
Many criticized the large golden handshake given to the outgoing executive despite poor company performance.