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LSDefine

Simple English definitions for legal terms

tin parachute

Read a random definition: contempt of court, indirect

A quick definition of tin parachute:

A tin 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. These benefits are not as valuable as those provided under a golden parachute. It is also known as a silver parachute.

A more thorough explanation:

Definition: A tin parachute is a provision in an employment contract that provides severance benefits to a corporate employee, especially those below the executive level, in case of a takeover. These benefits are usually less generous than those provided under a golden parachute. It is also known as a silver parachute.

  • When the company was acquired by a larger corporation, the employees with a tin parachute received a few months' salary as severance pay.
  • John's employment contract included a tin parachute clause that ensured he would receive some compensation if the company was taken over.

These examples illustrate how a tin parachute works. In the event of a takeover, employees with a tin parachute clause in their contract will receive some form of compensation, although it may not be as generous as the benefits provided under a golden parachute. This provision is designed to protect employees from sudden job loss and provide them with some financial security during a period of transition.

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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