Clauses that protect executives who bail of out of failing companies are referred to as "golden parachutes."

Name: Clauses that protect executives who bail of out of failing companies are referred to as "golden parachutes."
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This statement is true. Golden parachutes are clauses in executive contracts that provide lucrative financial benefits and protections in case they are terminated or leave a company, often in the event of a merger, acquisition or other form of financial instability.

Clauses That Protect Executives Who Bail of Out of Failing