1.
Severance from a person or group, or the ~ of a connection, involves the ending of a relationship or connection. (FORMAL)
...his bitter sense of ~ from his family.
...the complete ~ of diplomatic relations.
N-UNCOUNT
2.
Severance pay is a sum of money that a company gives to its employees when it has to stop employing them. (BUSINESS)
We were offered 13 weeks’ ~ pay.
ADJ: ADJ n