- severance contract
- noun
: an agreement for employment that stipulates certain benefits for the employee at the time of severance
Useful english dictionary. 2012.
severance contract
Look at other dictionaries:
severance pay — n. A sum of money paid to a terminated employee as compensation for firing him or her. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. severance pay Mone … Law dictionary
severance — early 15c., from Anglo Fr., from O.Fr. sevrance, from sevrer (see SEVER (Cf. sever)). Meaning discharge from employment contract is attested from 1941. Severance pay attested by 1942 … Etymology dictionary
severance pay — ► NOUN ▪ money paid to an employee on the early termination of a contract … English terms dictionary
Contract — law … Wikipedia
Severance Pay — The compensation that an employer provides to an employee who has been laid off, whose job has been eliminated, who through mutual agreement has decided to leave the company, or who has parted ways with the company for other reasons. Typically,… … Investment dictionary
severance — A settlement received after being released from a corporation. In the context of corporate governance, an agreement that assures high level executives of their positions or some compensation and are not contingent upon a change in control.… … Financial and business terms
severance — The separation of the good parts of a contract from the bad; it applies to contracts that are not illegal but are void by statute or common law. Courts will, if possible, save contracts from complete invalidity by severance of the parts that are… … Big dictionary of business and management
severance pay — Money, often the equivalent of one or two months salary, that is offered by employers to employees who are laid off. Severance pay is not a legal requirement, but it must be paid if it was offered in a contract. The term also sometimes refers… … Business law dictionary
severance — n. 1 the act or an instance of severing. 2 a severed state. Phrases and idioms: severance pay an amount paid to an employee on the early termination of a contract … Useful english dictionary
severance pay — noun money paid to an employee on the early termination of a contract … English new terms dictionary
