4 months is pathetic.
Worked in Fin services and their package was 2 months for first year of service, and subsequently 1 month pay for every year of service with the company. no limit. i.e. 8 years of service gives 9 months of severance pay (excluding any garden leave etc).
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Final Date of Employment is November 15, 2024.
If you choose to sign the Separation Agreement on November 15, 2024, you will receive the following benefits.
What you will receive for signing the Separation Agreement:
· Separation Pay: Four (4) months of Monthly Base Pay.
· Years of Service Recognition Payment (if applicable): If you have ten (10) or more consecutive completed years of service at Cisco, you will be eligible for a Years of Service Recognition Payment where you will get one (1) week of Weekly Base Salary for each completed Year of Service from the 10th Year of Service to the 19th Year of Service; and two (2) weeks of Weekly Base Salary for each completed Year of Service from the 20th Year of Service and beyond. Note that for purposes of this benefit, years of service is measured as of sixty (60) calendar days from your Notification Date. Only continuous years of service calculated from your most recent hire-date will be recognized. If you joined Cisco through an acquisition, your years of service with the acquired organization are recognized. Partial years of service, i.e., years of service that are not fully completed, will not be recognized.
· RSU Acceleration: RSUs scheduled to vest through December 15, 2024, will accelerate and vest.
· COBRA Payment: a lump sum payment equal to four (4) months of COBRA premiums (“grossed up” to cover taxes) based on your group health benefit elections as of your Termination Date. This payment can be used in any manner that you decide, including for the payment of COBRA continuation premiums.