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27Sundays and national holidays are considered by Colombian labor law as mandatory periods ofpaid rest. This implies that, as a general rule, the employee is not obliged to render services onthese days but is still entitled to receive the relevant salary. In Colombia there are 13 nationalholidays and five religious holidays. Where employees have to render services on Sundays ornational holidays they are entitled to special surcharges calculated according to the following rules:(i) If work on Sundays is regular or habitual (i.e. three or more Sundays in one month), theemployee is entitled to an additional surcharge of 75% over the ordinary hourly rates, plusone day of compensatory rest in the following week.(ii) If work on Sundays is occasional (i.e. two Sundays or less in one month), the employee isentitled to one of the following benefits of his/her choice: one day’s compensatory rest inthe following week, or an overtime payment of 75% over the ordinary daytime hourly rate.Termination of the Employment AgreementGenerally, employment agreements may be terminated without prior notice by any of the parties. Ifthe contract is terminated by the employer, the effects of the termination will vary depending on thetype of contract and whether the contract is terminated with or without just cause.IndemnificationIndemnification payments become payable in the event of the employer’s failure to comply withany legal or contractual obligations, or for the failure to comply with any obligations that thelabor law imposes on employers. The most common types of indemnifications include thefollowing:Indemnification for the termination of the employment agreement without cause (Severance):Type ofEmploymentAgreementFixed termFor the timethat theperformanceof the workmay lastIndefiniteTermSeveranceThe salary payable for the time period remaining until the completion of the term.The salary corresponding to the term determined by the duration of the duty or thecontracted work, in which event the indemnification will not be less than 15 days ofsalary.Employees with salaries less than ten times the minimum legal monthly wage:For employment relationships of one year or less, thirty days of salary; plus twentyadditional days for each subsequent year and proportionally for fractions thereof.Employees with salaries that are equal to or exceed ten minimum legal monthly