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English definition of “golden handshake”

golden handshake

noun [C usually singular]     informal
a usually large payment made to people when they leave their job, either when their employer has asked them to leave or when they are leaving at the end of their working life, as a reward for very long or good service in their jobRetiring and resigning from work
(Definition of golden handshake noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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