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LSDefine

Simple English definitions for legal terms

silver parachute

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A quick definition of silver parachute:

A silver parachute is a type of employment contract that provides severance benefits to a corporate employee, usually below the executive level, in the event of a takeover. It is not as lucrative as a golden parachute, but still provides some financial security to the employee. It is also known as a tin parachute.

A more thorough explanation:

Definition: A silver parachute is a provision in an employment contract that provides severance benefits to a corporate employee, especially one below the executive level, in the event of a takeover. These benefits are usually less lucrative than those provided under a golden parachute.

Example: If a company is acquired by another company, the employees of the acquired company may be worried about losing their jobs. However, if they have a silver parachute in their employment contract, they will receive some severance benefits if they are laid off. For example, they may receive a certain amount of money or health insurance for a certain period of time.

Explanation: The example illustrates how a silver parachute works in practice. It shows that employees who have this provision in their employment contract can receive some benefits if they lose their jobs due to a takeover. However, the benefits are usually not as generous as those provided under a golden parachute, which is a similar provision for executives.

silver certificates | silver-platter doctrine

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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