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Each year, hundreds of thousands of people in America are let go from their jobs and offered severance packages. This video explains what is typically included in a severance contract and highlights that by accepting a severance deal, individuals give up certain legal rights. The video keeps things interesting by comparing a $10,000 severance agreement to a $400,000+ one. The presenter emphasizes that the shown severance agreements are real, with identifying information redacted. Viewers are also directed to other videos on severance-related topics.