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One aspect of physician employment contracts that are often overlooked are the termination provisions. When physicians sign an employment agreement without having it reviewed by a health care lawyer, there is a good chance that the contact included unfavorable termination provisions. For instance, it is important for physicians to know how to protect themselves in instances where the employment arrangement terminates for some reason that is no fault of their own. Unfortunately, it is common for unfavorable contract terms, such as non-competition covenants, to continue to be enforceable despite the termination of the employment due to some fault of the employers. Many physicians find this possibility shocking, but this sort of language can be easily amended at the suggestion of a physician agent or physician health care attorney.
A second type of common and unfavorable termination provision is one that allows the employer to terminate the employment agreement without cause, even where no similar termination right is available to the physician. It is desirable for both parties to have a termination right that allows either party to terminate the agreement upon a breach by the other party of a material contract term and failure of the breaching party to cure the breach within a set number of days. A mutual term such as this is balanced and fair and is one example of the reasonable terms physicians want to negotiate into their employment agreements.
For more information on how we can assist physicians in negotiating their employment contract terms, please visit us at www.lauthoneill.com.
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