CEOs and top senior executives are sometimes referred to as 'fat cats' because of the enormous pay packages and rewards they are offered when joining a company. These may include details of salary, pension and, frequently, even the possibility of a 'golden parachute' or very generous severance deal, which is the sum of money they are guaranteed when they leave the company. Pay deals are negotiated by remuneration committees (compensation committees in the US) and are voted on by shareholders.