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The video explains the content of typical severance contracts given to employees who are fired or let go in America. When an employee accepts a severance deal, they receive money in exchange for signing the contract, giving up legal rights. The video compares a $10,000 severance agreement with a $400,000+ severance agreement to show the differences. The video showcases real severance agreements from former clients, with identifying information redacted. The creator has made other videos on severance, including how to determine if your severance is fair.