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3. Employee who resigns by his/her own will is entitled to a
Separation Pay in accordance with the calculation formula of
Service Period Recognition Payment as stated in Article 59 point
2.
4. If the resigned Employee has taken leave from his / her Leave
entitlement (as stated in article 21), Management shall have the
rights to deduct payment to the Employee to substitute for such
leave from the amount due to the Employee.

Article 59
Payment for Termination of Employment Relations

As agreed by both the Bank and the Employee, the termination of
employment can be done by granting Severance Pay, Service Period
Recognition Payment, and Compensation Pay in accordance with the
prevailing Manpower Regulations, with the implementation as
follows:

1. The amount of Severance Pay shall be determined at least as
follows :
a. less than 1 service year
= 1 month salary
b. 1 or more service years but less than 2 years
= 2 months salary
c. 2 or more service years but less than 3 years
= 3 months salary
d. 3 or more service years but less than 4 years
= 4 months salary
e. 4 or more service years but less than 5 years
= 5 months salary
f. 5 or more service years but less than 6 years
= 6 months salary
g. 6 or more service years but less than 7 years
= 7 months salary
h. 7 or more service years but less than 8 years

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