—n. 1. a folding, umbrellalike, fabric device with cords supporting a harness or straps for allowing a person, object, package, etc., to float down safely through the air from a great height, esp. from an aircraft, rendered effective by the resistance of the air that expands it during the descent and reduces the velocity of its fall.
2. See parachute brake. 3. Horol.a shockproofing device for the balance staff of a watch, consisting of a yielding, springlike support for the bearing at either end.
4. Informal. a. the aggregate of benefits, as severance pay or vacation pay, given an employee who is dismissed from a company.
b. See golden parachute.
—v.t. to drop or land (troops, equipment, supplies, etc.) by parachute.