Each year, hundreds of thousands of people across America are fired or let go from their jobs and presented with a severance package. When an employee accepts one of these severance deals, they're given money in exchange for their signature at the bottom of that contract. But what the heck is in these contracts? This video is going to explain what is typically included in a severance contract because these agreements are not free money; you give up significant legal rights. However, because contracts tend to be pretty boring, I'm going to keep this video interesting by comparing a $10,000 severance agreement with a $400,000+ severance agreement. Before we dive into it, there are three simple things we need to address. Number one, you're about to see actual severance agreements of former clients of mine. All identifying information has obviously been redacted, but these agreements are as real as it gets. Number two, I've made several other videos on severance. One is about how to determine if your severance offer is fair or not, and the other is about how to negotiate for more severance if you didn't receive a fair offer. I highly recommend that you watch those videos after finishing this one. I'll provide the links at the end of this video. Number three, I have a license to practice law only in California, but I've made this video to help anyone in America because most of the terms in a severance deal are very similar from state to state. However, YouTube videos are not legal advice. If you need legal advice, call an employment lawyer in your state so they can read your actual agreement and hear your termination story. This video is meant to give you a basic understanding of what is included in these agreements so...
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