12.03. The employer who does not give the notice prescribed in section 12.01 or who gives a notice of an insufficient period, must pay the employee a compensatory indemnity equal to his regular wage, excluding overtime, for a period equal to the period or remaining period of notice to which he was entitled.
That indemnity must be paid at the time the employment is terminated or at the time the employee is laid off for a period expected to last more than 6 months, or at the end of a period of 6 months after a layoff of an undetermined length, or a layoff expected to last less than 6 months but which exceeds that period.