MLchartDataset catalogue

Severance pay

Term · Law · MLC-T-LAW-005446

Compensation paid to an employee upon termination of employment, beyond any wages or salary earned up to the date of dismissal. This payment is often provided in exchange for a release of claims against the employer, particularly in cases of layoffs or involuntary separation. The amount and conditions of severance pay are frequently outlined in employment contracts, company policies, or collective bargaining agreements.

Table 1. Record
IdentifierMLC-T-LAW-005446
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005446",
  "term": "Severance pay",
  "field": "Law",
  "definition": "Compensation paid to an employee upon termination of employment, beyond any wages or salary earned up to the date of dismissal. This payment is often provided in exchange for a release of claims against the employer, particularly in cases of layoffs or involuntary separation. The amount and conditions of severance pay are frequently outlined in employment contracts, company policies, or collective bargaining agreements.",
  "url": "https://mlchart.com/terminology/law/severance-pay/"
}

Record 4,593 of 5,445 in Law terminology (MLC-0107). Request the full dataset.