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(1) A contract of employment may be terminated at any time by either party giving to the other party,

(a) in the case of a contract of three years or more, one month’s notice or one month’s pay in lieu of notice;

(b) notice or two weeks’ pay in lieu of notice; or

(c) in the case of contract from week to week, seven days’ notice.

(2) A contract of employment determinable at will by either party may be terminated at the close of any day without notice.

(3) A notice required to be given under this section shall be in writing.

(4) The day on which the notice is given shall be included in the period of the notice.