Indemnity

Indemnity. Means, in the cases of any of the events as set forth in section 1 above, the higher of (i) twelve times the monthly basic salary of the Executive and (ii) the amount of all statutory indemnities legally required to be paid upon the termination (which includes but is not limited to prior notice paid in lieu of notice and the 40% fine over the Unemployment Guarantee Fund - FGTS deposits) and all indemnities which may be provided by the applicable collective bargaining agreement, with the express... exclusion of proportional 13th salary and proportional vacation, payable within 30 days as from the date of the Notice of Termination, clarifying, therefore, that in this case only one of the values shall be paid, that is, the highest of them. View More

Indemnity. The guarantee granted by the Guarantor in Clauses 2 (Guarantee (Garantie) and Indemnity (Ausfallhaftung)) to 8 (Settlement Conditional) hereof.

Indemnity. The separate indemnity agreement that the Parent Company and the Employee will enter into pursuant to clause 3.3