Management severance is lump sum only, paid within 45 days of termination, assuming document is signed.
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Management (non-union) is lump sum only. No option to split up payments.
In some states you won't get unemployment benefits while you are receiving "stretched" severance
Their are 2 options, 1) you get the 50k up front and the rest of the money is paid out over 4 years, or 2) you get the 50k and half of what is left up front, and the other half is paid over 4 years.
Take the check. put it in stocks/money market/bonds/savings. you will get a better return than stretching it out.