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Additional
Severance package
English Wikipedia - The Free Encyclopedia
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Severance package
A
severance package
is pay and benefits an employee receives when he or she
leaves employment
at a company. In addition to the employee's remaining regular pay, it may include some of the following:
An additional payment based on months of service
Payment for unused
vacation
time or
sick leave
.
A payment in lieu of a required notice period.
Medical
,
dental
or
life
insurance
Retirement (e.g.,
401(k)
) benefits
Stock options
Assistance in searching for new work, such as access to employment services or help in producing a
résumé
.
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