13.03. An employer who does not give the notice prescribed by section 13.01 or who gives insufficient notice shall pay the employee a compensatory indemnity equal to his regular wage, excluding overtime, for a period equal to the period or remaining period covered by the notice to which he was entitled. The 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 for a layoff of indeterminate length, or a layoff expected to last less than 6 months but which exceeds that period.