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Golden parachute clauses aim to attract and retain top executives in companies by establishing, in the various scenarios of termination of their contracts, the payment of higher amounts than those provided for by law, by way of compensation. However, these agreements have raised questions of a corporate and employment nature. In an opinion article for RHmagazine, Carolina Bonina Cariano, Senior Associate in the Labor practice at CCA Law Firm, explains what these clauses are, how they work and the limits of their application.
‘(...)golden parachute clauses are intended, precisely by means of the employment contract, to provide differently from the law or collective bargaining instrument for the amount of compensation due in the event of termination of employment,’ says the CCA lawyer.
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- RH Magazine