layoff case, please help ....thank you!

Brief description:
1. On 6/30, employer told employee, “ I feel you are not willing to help me for the operation duties”
Employee: could you mention any specific details?
Employer answered few cases, and those examples, employee did make things done or employer didn’t assign work to the employee. But in the end, employer ask employee to take leave for one month and think about whether she would like to work or not.
2. On 7/31, employee wrote email to employee, mention she is pregnant for almost 2 months, and she is willing to continue work and see if both employer and her can find better way to coordination. She will be back to work on 8/1.
3. On 7/31, employer replied email, and mention:
employer decide to layoff the position
from employer : This is two weeks layoff notice: I will calculate your payroll for 8/1-8/15, and you don’t need to come to work, I will notify you when check is ready.
4. On 8/5, employer email an “EMPLOYMENT TERMINATION AND RELEASE AGREEMENT”, and let employee know when she go to get check, need to sign this
5. Questions:
- The last day shows on the agreement is 7/31, so the two weeks pay is considered ”severance pay”, but per email on 7/31, employee think it should be 8/15 for last day, and 8/1-8/15 is regular payroll
- Can employee refuse to sign the agreement? Any effect?
- Could such case be a lawsuit? Any suggestion ?