A company’s agreement with an employeeAn individual who is hired and paid by another person, compa..., usually a top executive, which promises a significant amount of money and/or benefits if the employeeAn individual who is hired and paid by another person, compa... is forced to leave their job, usually because of a change of company ownership, outside of the control of the original employerA person, business, organisation, etc., that pays for the se... company.