Golden handshake
A golden handshake generally describes the early termination of a contract , whereby the consent of one contract partner is to be achieved through cash payments or other benefits from the other contract partner.
Flat-rate contracts
A golden handshake in lump-sum contracts often means that the service provider offers unwanted customers a certain sum to end the contractual relationship before the end of the minimum contract period . This was particularly the case at the beginning of the introduction of so-called flat rates for Internet access. Customers who messed up the Internet service provider's mixed calculation due to a high monthly volume of data (so-called power users ) were specifically written to and made an offer to terminate the contract early and receive a transfer fee.
Today, most contracts either only have a short term or the contract conditions contain passages in which excessive use is excluded (→ Fair Use Policy ). This form of the golden handshake is therefore rarely used.
severance pay
A settlement allows companies to employees who actually due to the employment protection to disconnect should not be dismissed without a compulsory redundancy to have to pronounce. If an employee is paid a high severance payment when he leaves the company voluntarily, this is also known as a golden handshake . In the case of older employees, the deduction can be such that - often together with early retirement - they can start their retirement earlier than usual without any loss of income .
See also
swell
- ↑ Michael Wilde: Golden handshake for power vacuum cleaner. In: heise online. June 8, 2005, accessed August 17, 2009 .