English to Portuguese Bus/Financial Human Resources Compensation and Benefits

What’s the meaning of severance in this extract?

“Benefits: Employees are eligible to the benefits that include severance available in their country of residence. No employees should have employees in countries where they do not belong to the payroll. Any exception to this policy must be presented to HR. For the current cases, if no legal liability exists, the benefit will be grandfathered, if any liability for COMPANY exists, we will identify a way to adjust the benefits to the legal requirements without penalizing the employee. No new cases are permitted.”

Simply "indenização"? As in Employee Severance Indemnity (Indenização por demissão)
http://www.proz.com/kudoz/english_to_spanish/accounting/1284...

I’ve also found these terms:

Severance Pay – Quantia paga por ocasião da aposentadoria, semelhante ao FGTS // indenização trabalhista

Severance Package – Pacote de benefícios na demissão // Pacote de demissão

Thanks in advance.