1. If the employment contract is of an indefinite term or is not specified for the completion of a specific work, either party may terminate the contract at any time, provided that they notify the other party of their intention to terminate, and the notice period shall not be less than sixty (60) days, unless the law or the agreement provides otherwise. 2. If either party fails to notify the other of the termination of the contract or does not observe the expiry of the notice period, they shall be obligated to compensate the other party for the notice period or the remaining part thereof. The compensation shall be calculated based on the last wage received by the employee and all its fixed and specific allowances.
Interpretation and application must be checked against the official text and current version.