Re: Parachute
The idea is that you jump first and fall faster than the 'copter, then deploy the parachute when you're a safe distance. OTOH if you want an ejector seat with parachute, they can make the rotors eject before you do (they fly off at a tangent and slice into the ground or whoever is standing in the way).
I were flying at 10,000ft and the LiPos started smoking, I'd choose a parachute and jump, then be a he-hang.