golden parachute payment

(11) Costs incurred in making any payment (commonly known as a “golden parachute payment”) that is— (A) in an amount in excess of the normal severance pay paid by the contractor to an employee on termination of employment; and (B) paid to the employee contingent on, and following, a change in management control over, or ownership of, the contractor or a substantial portion of the contractor’s assets.

Source

41 USC § 4304(a)(11)

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Scoping language

None identified, default scope is assumed to be the parent (chapter 43) of this section.

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