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The video explains the contents of typical severance contracts given to employees who are let go from their jobs. Accepting a severance package involves signing a contract in exchange for money, but this means giving up significant legal rights. The video aims to make the topic interesting by comparing a $10,000 severance agreement with a $400,000+ severance agreement. The speaker presents real severance agreements from former clients, with identifying information redacted. Additionally, the video is part of a series that includes tips on how to determine if your severance package is fair.