Investopedia (admittedly not an official source) defines severance pay this way:
"Severance pay is any form of compensation paid by an employer to an employee after employment has ended."
https://www.investopedia.com/terms/s/severancepay.asp
Fidelity Investments defines it this way:
"Severance pay is any compensation that your employer gives you when your employment there ends, beyond what you’re owed in remaining paychecks or unused time off that your company may pay out. It’s commonly offered to employees who are laid off through no fault of their own, but it is occasionally offered to other employees, including those who willingly resign."
https://www.fidelity.com/learning-center/smart-money/severance-pay#subscribe-to-smart-money
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
