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severance pay

Line breaks: sev¦er|ance pay

Definition of severance pay in English:

noun

An amount paid to an employee on the early termination of a contract.
Example sentences
  • The decree stipulates that the severance pay for a worker depends on their working period.
  • I would take it easy for a few months and go scuba diving and windsurfing courtesy of my severance pay.
  • The severance pay would be worked out according to the number of years a worker had been with the company.

Definition of severance pay in:

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