If you are being laid off from employment, it’s important to understand what severance pay you may be entitled to and the issues around the severance agreement you will be presented with. This article reviews the most frequently asked questions about severance pay and severance agreements in connection with a termination of employment.

Hearing the words, "you're being laid off," can bring on one of the worst feelings in the world. After all, if you're like most people, you probably count on your job to provide you with a paycheck, not to mention health insurance and other valuable benefits.

When news broke of Tata Consultancy Services (TCS) parting ways with senior employees and offering generous severance packages ranging from six months to two years, depending upon the tenure, it stirred both shock and speculation.