Add Comment Question: After 59.5 years of being one of the business owners on the payroll, am I entitled to severence pay? Answer: If you are on payroll and receiving income (like on a T4), then you are not only an owner but also an employee of the business. As such, if you were terminated in your capacity as an employee you would be entitled to severance just like any other terminated employee. Your Comment * Your Email * Your Name * Your City Note, your name, city and email is not displayed on the website. It is used to notify you that we have approved your comment.