Che, i think this is instead of normal indemnity in case of restructuring, so if you were here 15-20 years you are basically screwed.
Indemnity is separate from the redundancy pay.
Indemnity is an integral part of the remuneration package in accordance with the labour law, as expats don't receive a pension. Indemnity would not be paid IF the company would be dissolved or goes bankrupt
Redundancy is paid as compensation for the breach of contract. Therefore an expat can expect to be paid both in case of being made redundant. Except if the redundancy was because of going into administration.
Therefore if an expat wanted to leave anyway it would be better to be made redundant!
However I'm sure GF HR are looking for ways to pay the least amount of money possible.