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tin parachute

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
1985-90 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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tin Lizzie

noun phrase

An early Ford car, esp a Model T: It is as simple and homely as an old tin Lizzie

[1915+; perhaps because such vehicles were sturdy, dependable, and black, like the traditional ideal Southern servant, called Elizabeth]

The Dictionary of American Slang, Fourth Edition by Barbara Ann Kipfer, PhD. and Robert L. Chapman, Ph.D.
Copyright (C) 2007 by HarperCollins Publishers.
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