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tin parachute

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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.
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Origin of tin parachute

First recorded in 1985–90

Words nearby tin parachute

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

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