exit package
Termination benefits bundle
An exit package is a bundle of benefits offered to an employee leaving a company, typically including severance pay, extended health insurance, and sometimes outplacement services.
The term usually applies to negotiated departures—layoffs, buyouts, or mutual separations—rather than firings for cause: The company offered generous exit packages to encourage early retirement.
Golden parachutes for executives are a lavish variety.
- severanceTermination pay or disconnection
- separation agreementContract formalizing a split
- golden parachuteLucrative exit agreement
- lump sumEntire amount at once
- layoffTermination without cause
termination · buyout · redundancy · payout · compensation · settlement · final paycheck · departure · farewell · pink slip · negotiation · benefits · healthcare · pension · outplacement · career transition · soft landing · non-compete
- severanceseverance, severance pay, termination pay, separation pay, redundancy pay
- unemploymentunemployment, unemployed, jobless, joblessness, unemployment rate
- cutbackscutback, cutbacks, decrease, layoff, reduction
- oustedfired, axed, sacked, canned, terminated
exit packagesign-on bonus
Payment for accepting employment
signing bonus · job offer · relocation package · starting salary · promotion
exit packagepromotion
Rank increase or publicity
advancement · raise · career progression · bonus · performance bonus
exit packageretention bonus
Payment to keep employees
golden handcuffs · loyalty bonus · employment contract · contract renewal · vesting schedule
exit, package, exits, exited, exiting, packages, packaged, packaging, packager