I am looking at going to work for a newer software company and am concerned about the validity of my future employment contract. My contract states that I am entitled to 2 months severance pay upon my departure for any reason including a sale or transfer of the majority of stock or assets of the company. Are the new owners of the company obligated to uphold and payout my severance or are all the employment contracts binding the old company null and void upon the completion of purchase?

Most likely, either the contract will be binding on the purchasing company, or you will be entitled to the severance upon completion of the sale, whether or not you continue working.