Also remember the Stay Bonus you will get paid 25% of this up front within 30 days of signing the work agreement if you leave the company early all that money must be paid back to the company as soon as you leave plus the 20% the government takes out for federal taxes. If you sign the agreement it would be better for you and your family to stay until you LDW. Don't stress if you can't find a job that starts immediately after your LDW remember the safety nets we have Unemployment and Food Stamps were set up for situations like this and Medicaid will keep your family healthy if you still can't find anything after the severance runs out.
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You won't get any severance if you sign and then quit. It's considered a breach of the agreement and if you receive any money, you have to pay it back. If you don't sign the agreement, that's considered quitting/resigning and again, no severance. Doesn't really give you many options that benefit you unless you sign and work till the last day you were given. Good luck!
You sign the contract and then quit you are not eligible for any bonuses or severance pay. Additionally you might not even able to collect unemployment. It's in your best interest to stay with company until LDW.