Yes - the contract I had agreed to allowed for some time to elapse after being let go and I would still be able to exercise the options.

I got a payday of $27k before taxes, $18k after taxes. In my opinion, I should've negotiated $10k additional salary if not more when I got the job; it would have been a far better payout without any 4 year requirement of loyalty (I was not appropriately rewarded for said loyalty).