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Each year, many Americans are let go from their jobs and offered severance packages, which typically include money in exchange for signing a contract. This video tutorial explains the contents of a typical severance agreement, emphasizing that accepting a package comes with giving up certain legal rights. To maintain viewer interest, the video contrasts a $10,000 severance agreement with a $400,000 agreement. The presenter will share real severance agreements from former clients, with identifying details redacted, and mentions that they have previously created videos on how to assess the fairness of severance offers.