MATCHING KEY TERMS AND DEFINITIONS
-A financial protection plan for executives in case they are severed from the organization.
A)Team-based compensation
B)Extrinsic rewards
C)Compensation administration
D)Ordering method
E)Fair Labor Standards Act
F)Performance-based rewards
G)Wage structure
H)Differential
I)Organization-wide incentive
J)Classification method
K)Equal Pay Act
L)Merit pay
M)Golden parachute
N)Compensation surveys
O)Exempt

Question

Quizplus · Accepted Answer

A golden parachute is a financial protection plan designed to provide executives with significant benefits if they are terminated from the organization. This can include severance pay, stock options, and other compensations.