severance pay
noun
: an allowance usually based on length of service that is payable to an employee on termination of employment
Examples of severance pay in a Sentence
Recent Examples on the Web
Larry Scott received $3 million in severance pay (over two years), and George Kliavkoff took home $4 million in salary, including a $500,000 bonus paid during the calendar year (2022) in which USC and UCLA fled to the Big Ten.
—
Jon Wilner, The Mercury News, 25 May 2024
Eligible workers who do not transfer will be offered severance pay.
—Lorraine Mirabella, Baltimore Sun, 6 Mar. 2024
See all Example Sentences for severance pay 
Jon Wilner, The Mercury News, 25 May 2024
Eligible workers who do not transfer will be offered severance pay.
—Lorraine Mirabella, Baltimore Sun, 6 Mar. 2024
See all Example Sentences for severance pay
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'severance pay.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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“Severance pay.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20pay. Accessed 6 Jun. 2024.
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