Employment contract – If the employee is dismissed for failing to fulfil or not having the necessary qualifications and ability to perform his duties, he has the right to continue working for a notice period of between eight and 30 days. The employee may agree to stop working prior to expiry of the notice period on payment of compensation for salary, the amount being determined by the General Act and the employment contract.
Regarding redundancy, the employee is entitled to a severance payment for an amount determined by the company’s internal acts and employment agreement. Where an employee exercises the right to severance pay, it cannot be lower than the sum of one-third of the employee’s average gross salary paid over the previous three months of employment preceding the month in which severance pay is issued, for each full year of employment with the employer.
Management contract – No statutory requirement, but it may be agreed upon in the management contract.