### Question
What does golden parachute payment mean?


### Answer
**Golden parachute payment** has the following meaning in *12 U.S.C. § 1828*:

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


(i) is contingent on the termination of such party's affiliation with the institution or covered company

#### Citation:
  - *12 U.S.C. § 1828*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

