What is another word for golden handshake?
Pronunciation: [ɡˈə͡ʊldən hˈandʃe͡ɪk] (IPA) 
A "golden handshake" refers to a financial incentive offered to a senior employee as they leave an organization. While this term is commonly used, there are several alternatives that can be used to describe the same concept. These include "severance pay," "exit package," "retirement bonus," and "termination agreement." Each of these phrases conveys financial compensation for departing employees either due to retirement or termination. Businesses offer such incentives to acknowledge the service of their senior employees or as a means of preventing legal action or damaging public relations. No matter what the term used to describe it, a golden handshake is an attractive incentive to say goodbye to a longtime job.
