What exactly does the severance include and is there a max? Is it 2 weeks for every year of service? What’s the max amount of weeks they’ll give? 50? Do they also give bonus and stocks?
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Normal severance below band 5 is 2 weeks per year of service with a minimum of 2 weeks and a maximum of 35 weeks. You will also immediately vest any outstanding stock together (it will be deposited to your Fidelity account within 60 days post term) and you will receive a prorated STI if you are otherwise STI eligible.
Max is 35 weeks for management other than band 5 which gets 52 weeks. Straight out of the most current plan document out there.
35 weeks is the cap for the associate cap for the vsp
Look it up!!! It hasn't changed in 25 years!!!
I believe the cap for VZt was 35 weeks
Did it change to 26 weeks? For many years it capped at 36 weeks.
2 weeks every year up to a max of 26 weeks plus accrued vacation and 100% of you bonus potential. Stock plan says you have to be employed on the day hour shares vest so you lose whatever you haven’t already vested in.