| gen. |
severance pay (money, exclusive of wages, back pay, etc., paid to an employee who has tenure and who is dismissed because of lack of work or other reasons beyond the employee's control. RHWD. Money paid as compensation to someone whose employment is ended, often in exchange of waiver. 2008, Tom Clark, The Guardian, G2, 15 Jan 2008, p. 3: The only case for severance pay on top is that fortunes in public life are so uncertain that some MPs might be discouraged from seeking office if there weren't any cushion. WT Alexander Demidov) |
