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severance and termination that an employee may be entitled to upon termination termination pay is one week for a year up to a maximum of eight weeks you may be entitled to termination pay after your probation period is done which is typically three months severance pay you are entitled to if youve worked somewhere for five years if your company has 2.5 million payroll or if you have 50 employees in your workplace even though termination pay and severance pay are used interchangeably they actually mean very different things so make sure you discuss your termination package with an employment lawyer to make sure youre receiving both as well as other common-law entitlements that you may be receiving above and beyond what is in your employment agreement you