Flexible Spending Account. Your employer may offer dependent care benefits by allowing you to use pre-tax dollars to pay for your child care expenses. This arrangement is a flexible spending account that is funded pre-tax contributions, deducted from your pay. For 2013, the maximum tax-free amount is $5,000.
golden parachute. A clause in an executive's employment contract specifying that he/she will receive large benefits in the event that the company is acquired and the executive's employment is terminated.
contract. 1) n. an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration.