Correct me if I'm wrong, but isn't a so-called "golden parachute" compensation that is paid to an employee when he screws up, essentially upon termination? Then in what way are the terms of these proposed bonuses golden parachutes? They are performance-based enhancements, nothing more!
An acquisition by another firm could lead to an earlier executive termination thereby triggering a golden parachute even without the executive's screwup. Golden Parachutes are a way of staving off an unwanted buyout which might benefit the shareholders. Really now, why complicate life with these goodies when a decent compensation package will motivate qualified people just as well? If they need additional motivation then perhaps they don't need to stay with this Company anyway.