### Question
Can you define what golden parachute payment means?


### Answer
**Golden parachute payment** is defined as the following in *12 U.S.C. § 5221*:

> any payment to a senior executive officer for departure from a company for any reason, except for payments for services performed or benefits accrued

#### Citation:
  - *12 U.S.C. § 5221*
  - Heading: **CHAPTER 52-EMERGENCY ECONOMIC STABILIZATION > SUBCHAPTER I-TROUBLED ASSETS RELIEF PROGRAM**

