tin parachute
noun
an employment agreement guaranteeing a worker compensation, especially in the form of bonuses and benefits, in the event of dismissal as a result of a merger or takeover.
Origin of tin parachute
First recorded in 1985–90
Words nearby tin parachute
tin god,
tin hat,
tin lizzie,
tin pan alley,
tin pants,
tin parachute,
tin pest,
tin plate,
tin pyrites,
tin soldier,
tin spirit