ATTORNEY ADVERTISING
It's that time of year for physicians coming out of training- contract signing time. And it is definitely an exciting time! However, it can also be very stressful, as the process of reviewing and signing your next employment agreement can be complicated, time-consuming, and tenuous. One issue that often comes as a surprise to many young physicians, is that the contracting process can be very far from straightforward. In some instances, there isn't just one contract to worry about, but instead there may be two. And they can come in all different forms, and under all different names. For example, you may be offered a traditional "Employment Agreement," or perhaps an employer sends you a "Letter of Agreement;" there may be a "Recruitment Agreement" or "Relocation Agreement" involved- and what do each of these do exactly, what do they mean? Of course the true answer is completely dependent on the actual agreements you are offered, and I highly encourage you to seek your own legal counsel, as only your own attorney can provide you a professional opinion on the agreements you are offered. But here are some general guidelines to keep in mind.
First, as suggested, the name or heading at the top of a given agreement is merely that- a name or heading- it does not necessarily tell you the true nature of the agreement, or the content of the terms. Second, you may be offered one agreement that references another, and the two seem to be intertwined in some ways. This is the case when an employer offers you a job via an Employment Agreement, and then there may also be a "Recruitment Agreement" that involves a separate hospital. This is a common arrangement where a private group may want to hire you to fill a need in the community, and the group needs financial assistance from a hospital to be able to afford to pay you a guaranteed salary. Be sure to read each document offered to you very carefully, and ensure you fully understand the nature of the relationship that will be established. Make sure that if any external documents are referenced in the agreement(s) offered to you, you obtain copies of and carefully review, all of the referenced external documents. It cannot be overstated, especially in instances where multiple parties are involved, such as in recruitment arrangements, seeking independent counsel is crucial, as they stakes can be very high, and the only person truly looking out for your best interests is you.
For more information on physician employment contract review assistance, please contact Leigh Ann at 317-989-4833 or loneill@lauthoneill.com.
ATTORNEY ADVERTISING