Pay in Lieu of Notice

Pay in Lieu of Notice - (noun)

Definition

This is payment made to an employee for a notice period that they don’t have to work. The amount of money should cover all the money that would have been earned during the notice period.

Extra

Source: Adapted from Wikepedia
Example of Use: She was given payment in lieu of notice, so he didn’t need to go into work after she was informed of her dismissal.