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This video tutorial explains severance agreements, which are contracts in which employees relinquish their right to sue their employer in exchange for monetary compensation. The purpose of these agreements is to provide employers with peace of mind and certainty. When an employee signs a severance agreement, they typically cannot pursue legal action against the company, as these agreements are often standardized, formulaic, and enforceable. The video also aims to help viewers increase their negotiating leverage for better severance packages. At the end, the presenter will share six valuable bargaining chips to enhance negotiation outcomes.