OP, the way it’s written is that if the nanny terminated for cause, you will owe 4 weeks of severance. The listed reasons are bolded below. By the way, having different amounts of severance and notice is NOT the norm. If it’s two weeks for notice, it’s two weeks for severance.
This is NOT a good contract. Find something better online, and have it checked by a lawyer or at least someone who speaks English very well (someone you trust).
GROUNDS FOR TERMINATION PARENT
Inconsistent or non-performance of agreed-upon job responsibilities
Unapproved guests
The following are grounds for immediate termination:
Use of illegal drugs, drinking or smoking on the job
Allowing the safety of the child(ren) to be compromised
If the Nanny has to immediately terminate her employment for cause, The nanny will be entitled to a severance package of 4 weeks pay.
Home is left in an unsafe or in an unsanitary manner
Physical, emotional, or sexual abuse from child or parent
Breech of Nanny’s privacy
TERMINATION: Either party may terminate the contract by giving 14 days’ notice for any or no reason, with or without cause and all obligations shall cease at the end of said 14-day period. In lieu of providing notice, Parents will give Nanny two weeks’ pay to terminate the contract immediately. Notwithstanding this, Parents may terminate Nanny immediately for just cause without notice (see “Grounds for Termination”). Notwithstanding this, Nanny may end the contract immediately for just cause without notice (see “Grounds for Termination”)