In The Wolf of Wall Street there is a comical scene with Donnie Azoff (in a suit and glasses) and Brad Bodnick (in a black bomber, seen from back), where Donnie gets into a public brawl with Brad. Their talk:
Brad: I’m gonna give you a pass. Just give me the case.
Donnie: You’re gonna give me a pass?
Brad: Look, it’s a figure of f*ing speech.
Donnie: Oh, my gosh. The Emperor of F..cksville came down form F..cksville to give me a pass!
From the context I may guess that "give somebody a pass" means something like "ok, I’m gonna forgive you this time". Is it so? Does it have some additional meaning?