A labor contract shall be terminated under one of the three circumstances as follows:

(I) A labor contract shall be terminated upon:

(1) The expiration of its time limit;

(2) the occurrence of conditions to terminate labor contracts as agreed by and between the parties;

(3) insolvency, dissolution or the termination of a workplace organization, or

(4) employee retirement, resignation, or death.

(II) A labor contract may be terminated in the case of either party committing "de facto non-performance" for a period exceeding three months.

(III) A labor contract may be terminated in the case of an employee suffering from occupational diseases or injuries experienced during work whereby they lose part of their labor capability while the labor contract is current, and the employer pays the employment subsidies for the disabled employee in compliance with the applied recommendations.