severance agreement

English Thesaurus

1. an agreement on the terms on which an employee will leave (noun.communication)

hypernym	:	agreement, understanding,
definition	:	the statement (oral or written) of an exchange of promises (noun.communication)

hyponym	:	golden handshake,
definition	:	a lucrative severance agreement offered to an employee (usually as an incentive to retire) (noun.communication)