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Companies are not required to offer severance pay, but those that do will have different sets of policies and guidelines for how severance is handled.

Your employer may offer you severance pay, also called a separation package if you’ve been terminated or permanently laid off from a long-term job.

Severance pay may include a lump sum payment, a period of continued paychecks, continuation of benefits or other forms of payment. For help drafting or negotiating a severance agreement contact our office at 954-306-6921.

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