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A severance package includes the pay and benefits that an employee receives when his or her employment contract has ended unexpectedly, generally due to a layoff or job elimination.

In either case, your severance agreement should state explicitly what the employer's policy is. So don't sign it until you're clear about those terms. But if the agreement is silent on the issue then you likely may continue to receive your full severance while also earning income from another source.

The severance pay offered is typically one to two weeks for every year worked, but it can be more. If the job loss will create an economic hardship, discuss this with your (former) employer. The general practice is to try to get four weeks of severance pay for each year worked.

Yes, you can rehire a laid-off employee. There are no laws preventing you from doing so.

Severance pay is usually based on the number of years you've worked at your employer. Generally, you'll get one week to four weeks of pay per year of service, but it is common for employers to pay out two weeks of pay for each year at the company. Of course, every company differs in calculating total severance pay.

Severance May Not Be Available if You Quit Most often, when there is an agreement beforehand, an involuntary termination of your employment would require your employer to pay severance to you. This termination would include if you choose to resign instead of being terminated.

You can always try to negotiate more severance. Employers rarely withdraw an offer just because an employee asks for more.

5 examples of when you may not want to do so are when: you intend to sue your employer after your termination, the severance package is not sufficient, you do not have legal representation, it would unduly restrict your professional future, and. you do not fully understand the agreement.

The most important part of the California severance agreement for the employer is going to be long and full of legalese. This entire release may be negotiable.

The general practice is to try to get four weeks of severance pay for each year worked. Middle managers and executives usually receive a higher amount. Some executives, for example, may receive pay for more than a year. If your lump-sum severance payment is considerable, it could push you into a higher tax bracket.