WHEREFORE, the petition is DENIED. The Decision dated May 14, 2000 and Resolution dated November 14, 2000 of the Court of Appeals are hereby AFFIRMED. Costs against the petitioner. SO ORDERED. Puno, (Chairman), Panganiban, Corona, and Carpio-Morales, JJ., concur. [1] Annex B, Petition for Review on Certiorari, Rollo at 24-39. [2] Annex A, id. at 15-23. [3] Annex A, Comment and Opposition, Rollo at 53-64. [4] Annex B, id. at 65-66. [5] G.R. No. 101527, January 19, 1993, 217 SCRA 237. [6] Section 23. Where the vessel is sold, laid-up or the voyage is discontinued necessitating the termination of employment before the date indicated in the contract, the seafarer shall be entitled to earned wages, repatriation at employers cost and one (1) month basic salary as termination pay, unless arrangements have been made for the seafarer to join another vessel to complete his contract in which case the seafarer shall be entitled to earned wages until the date of joining another vessel. [7] Section 3. Both parties agree that in case of x x x sale of any vessel covered by this agreement, the company shall have the right to terminate the services of the seamen of such vessel prior to the expiration of the individual contracts, provided that such seamen are paid separation pay equivalent to one (1) month basic pay x x x; however, the seamen affected x x x may opt to be transferred and continue working in the other vessels owned and operated by the company x x x.