Executive Compensation Terms

noun a privilege, gain, or profit incidental to regular salary or wages; a bonus

• The company offers various perquisites to its executives, such as a car allowance and stock options.
• One of the job's perquisites is access to the company gym for free.
• Getting free concert tickets is a cool perquisite of working in the music industry.
• In the world of politics, having influential connections is considered a valuable perquisite.

noun a sum of money paid to an employee as compensation in the event of a sudden termination or change in ownership of a company

• The executive received a large parachute payment upon leaving the company.
• When the CEO got fired, he got a huge parachute payment as a severance package.
• The boss scored a fat parachute payment when he got the boot.
• Receiving a parachute payment can soften the blow of losing a job.