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Each year, hundreds of thousands of people in America are fired or let go from their jobs and given a severance package in exchange for signing a contract. This video explains what is typically included in a severance contract, highlighting that they involve giving up certain legal rights. The video keeps things interesting by comparing a $10,000 severance agreement with a $400,000+ severance agreement. The creator notes that the agreements shown are from real former clients, with identifying information redacted, and mentions other videos on severance topics are available.