### Question
What is the definition of golden parachute payment?


### Answer
The definition of **golden parachute payment** is as follows in *12 U.S.C. § 1786*:

> any payment (or any agreement to make any payment) in the nature of compensation by any credit union for the benefit of any institution-affiliated party pursuant to an obligation of such credit union that—


(i) is contingent on the termination of such party's affiliation with the credit union

#### Citation:
  - *12 U.S.C. § 1786*
  - Heading: **CHAPTER 14-FEDERAL CREDIT UNIONS > SUBCHAPTER II-SHARE INSURANCE**

