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This video explains what is typically found in a severance contract that employees are presented with when they are fired or let go from their jobs in America. The contracts offer money in exchange for their signature, but by accepting, they give up significant legal rights. The video compares a $10,000 severance agreement to a $400,000+ severance agreement to show the differences. The speaker emphasizes that the severance agreements shown are real but with identifying information redacted. The video aims to make the topic of contracts interesting and also references other videos on severance available.