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This video explains what is typically included in a severance contract when people are let go from their jobs in America. Severance packages involve giving up legal rights in exchange for money. The video compares a $10,000 severance agreement to a $400,000+ severance agreement to demonstrate the differences. The speaker also clarifies that the severance agreements shown in the video are real but with identifying information redacted. Check out their other videos for more information on understanding and negotiating severance agreements.