Following is a check-list of things that employees who are terminated need to receive from the employer:

1) Termination letter.
2) payout of any unused vacation days
3) payment of Havra’a (if tenure is 1 year
or more)
4) severance pay (if tenure is 11 months or
more)
5) release letters for all savings plans,
pension plans to the employee’s
ownership.
6) recommendation letter
7) copy and explanation of all final
calculations (severance pay, etc)
8) 161 and 161A tax forms
9) final pay slip and time-sheet
10) make sure all company property has been
returned: keys, swipe card, laptop, cell
phone, car. etc and that the company
employee who receives them from you has
signed off that they have been returned.

Also see the Guest post blog I wrote on this topic:
http://jobmob.co.il/blog/employee-layoff-rights-israel/