Severance Agreement (Noun)
Meaning
An agreement on the terms on which an employee will leave.
Classification
Nouns denoting communicative processes and contents.
Examples
- The company offered her a generous severance agreement in exchange for her immediate resignation and a non-disclosure clause.
- As part of the severance agreement, he would receive six months of pay and continuation of his health benefits.
- The employee's severance agreement included a formal apology from the company for the wrongful termination.
- The HR representative walked her through the severance agreement, explaining each point and answering her questions.
- His severance agreement specified that he would receive a lump sum payment and assistance with outplacement services.