A severance package is primarily intended to provide financial assistance to employees who have been involuntarily terminated from their jobs, helping them cover immediate expenses and support themselves during the period of job search and transition.

Stock options are not typically included in severance packages as they are long-term incentives tied to the company's performance and not directly related to the termination of employment.

The value of a severance package is typically determined by considering factors such as the employee's length of service, their salary and benefits, the company's financial situation, and any relevant employment contracts or agreements.

In the United States, severance packages are not legally required and are provided at the discretion of the employer. However, some states may have specific laws or regulations that govern severance pay in certain circumstances.

A non-compete clause in a severance agreement aims to protect the company's interests by restricting the employee's ability to work for a competitor, solicit clients, or disclose confidential information.

In many cases, employees can negotiate the terms of their severance package, especially if they have a strong bargaining position due to their skills, experience, or contributions to the company.

While the range can vary, a typical severance package in the United States often falls between 2 to 4 weeks of pay for each year of service, although it can be higher or lower depending on various factors.

Outplacement services in a severance package are intended to provide the employee with career counseling, job search assistance, and resources to help them transition to a new job.

In most jurisdictions, employers can require employees to sign a release of claims in exchange for a severance package, provided that the release is voluntary and the employee has the opportunity to consult with an attorney.

In many jurisdictions, severance pay can reduce the amount of unemployment benefits an employee receives, as it is considered income that offsets the unemployment benefits.

In the United States, severance pay is generally taxed as ordinary income, meaning it is subject to federal and state income taxes.

In most at-will employment jurisdictions, employers can terminate employees without providing a severance package, as long as the termination is not discriminatory or retaliatory.

In unionized workplaces, unions play a significant role in negotiating severance packages on behalf of their members, representing their interests and advocating for favorable terms.

The notice period for a severance package can vary significantly depending on the company's policies, industry norms, and any applicable employment contracts or agreements.

A garden leave provision in a severance agreement allows the employee to take a leave of absence from work during the notice period, while still receiving their salary and benefits.