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Each year, many Americans are fired or laid off from their jobs and offered a severance package in exchange for signing a contract. This video explains what a typical severance contract entails, emphasizing that it is not free money and involves giving up legal rights. To make the topic more engaging, the video compares a $10,000 severance agreement to a $400,000+ severance agreement. The presenter shows actual severance agreements from former clients, with identifying information redacted. The video also mentions other videos on severance, such as how to determine if your severance is fair.