Bob Jones was recently permanently laid off. His company, ACME Manufacturing, has issued Bob a cheque that represents one month's pay for every year Bob worked at ACME. What does this cheque represent?

A) Bob's unused vacation pay
B) Bob's unused benefits
C) Bob's unused sick leave
D) Bob's severance pay

Severance Pay

A compensation package offered to an employee by an employer upon termination of employment, often based on length of service.

Permanently Laid Off

A situation where an employee is dismissed from their job without the expectation of being rehired, often due to organizational restructuring or economic downturns.