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Contract.

4. The wage component in calculating Severance pay, long service
pay, separation pay, and compensation pay, consists of basic
wages and fixed allowances.

5. Termination of employment that occurs due to reasons regulated
by the Manpower Act will still refer to the formula for severance
pay and gratuity pay which has been regulated in BMI CLA article
59.

However, if the termination of employment is due to an
employee's mistake after receiving Third Warning Letter, then the
Bank will apply the calculation formula for Years of Service Award
which is multiplied by 0.5 from the formula stated in Article 59
paragraph 2.
The rest, if the layoffs that occur are due to the Bank's corporate
actions (e.g. acquisition, merger, bankruptcy etc.), as the
calculation formula will follow the existing formula in the existing
PKB BMI as a minimum standard, or based on a mutual
agreement between Management and BMI Union in good faith to
maintain harmonious industrial relations.

6. Salary per month must be the same as 25 (twenty five) times
salary per day or 173 (one hundred seventy three) times salary
per hour.

7. In case Employee receives the Salary based on lump sum work or
unit calculation, the amount of monthly Salary must equal to the
average income of the last three months.

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