Recent studies revealing how many U.S. companies pay severance aren't available. Hollett says he believes the practice is common, although not legally required, except for union and employment contracts. Pay Attention to Benefits. Accrued but unused vacation pay should be paid in full - that's the norm. So get a new job as quickly as you can.
Stock options is a tricky area.
You see horror stories about former employees of failed start-ups who owe the IRS millions of dollars on paper profits but who became paupers when the stock died. Be Wary of Non-competes. Internet technology company Cisco Systems recently gave all terminated employees two months' severance. If employees signed a raft of legal releases, including non-compete agreements that prevent them from working for competitors for a given period of time, they got another four months'. Take enough time to think things over before signing and, if you wish, consult an employment attorney, Hollett advises.