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Continuation of insurance benefits, assistance finding another job, and other perks can also be negotiated as part of a severance agreement. Typical severance packages offer one to two weeks of paid salary for every year worked.

The severance pay offered is typically one to two weeks for every year worked, but 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.

There's no requirement under the Fair Labor Standards Act that mandates companies provide severance following a layoff. However, organizations that do have a severance policy will usually include it either in the employee contract or offer letter you signed before joining the company, or in an employee handbook.

Severance packages may include salary continuation; vacation pay; continued, employer-paid period of benefits coverage; employer-paid COBRA premiums; outplacement services; counseling and resume workshops; and more.

No. At this current time, the government has indicated that a severance payment does not impact an individual's eligibility for the CERB (Canada Emergency Response Benefit). You will still be able to apply for and receive the CERB.

The severance agreement may have a confidentiality clause, but if the employee refuses to sign, the employee may go public with the contract. Often, employers offer severance packages even when they believe they can defend against future legal action.

1. What should a severance package include? Your severance package should include information about your financial compensation under the agreementfor example, how much you will be paid and how it will be paidas well as how you will be compensated for your unused vacation and sick time.