Download the Guide
Contract Review: Exiting an Employment Agreement
It is crucial that you understand what is in your contract and what particular terms and conditions you should be aware of as you prepare to exit.
What’s Inside the Guide?
Repayment of Bonuses
While bonuses or reimbursement can make a contract very attractive, they are usually accompanied by repayment obligations if the agreement is terminated early for any reason.
Tail Insurance
Understanding what type of malpractice insurance you have is vital to protect yourself from potential lawsuits in the future. Get clarity on how tail coverage will be handled before you sign.
Non-Compete and Restrictive Covenants
Get to know what is fair and regular in terms of a physician leaving a practice and what is included in your contract. Look at the scope of work, geographical area, and length of time.
Intellectual Property
Beware of over-reaching language which may claim complete or partial ownership rights to inventions, new medical devices, break-through treatments, or procedures that you develop.
Know Your Next Contract
Gain confidence in your knowledge of contracts and employment offers.
The best time to have a contract reviewed by your attorney is before you sign. An experienced attorney can identify areas that could become problems and take care of them before they do so.
The second best time to review your agreement is before you give notice to leave your current position. If you are thinking about changing employers, you need to plan your exit to create a smooth transition for both you and your employer. Having a full understanding of what both you and you employer have agreed to will help you fulfill the terms of your contract and prevent any costly misunderstandings.
Call Us
Need a Contract Review?
Physicians Thrive is the only contract review provider who gives physicians access to both a licensed attorney and certified financial planner with every review.
Our Resources and eBooks
A Wealth of Knowledge
Browse More by
3 Ways to Avoid Taxes on Life Insurance Benefits
Veronica Baxter | Boonswang Law Firm As a general rule, they do not tax proceeds from a life insurance policy as income to…
Read The Article
5 Smart Financial Moves for Residents and Fellows to Prepare for the Future
Steps you can take today toward a firm financial foundation Medical residents and fellows have an enviable opportunity to …
Read The Article
6 Major Risks to Family Wealth
All too often, family wealth fails to last. One generation builds a business – or even a fortune – and it is lost in e…
Read The Article
3 Common Contract Issues that Green-Card Seeking Physicians Face
Foreign-born physicians are an integral part of the American healthcare landscape. According to a 2018 JAMA study, approxi…
Read The Article
3 Ways to Avoid Taxes on Life Insurance Benefits
Veronica Baxter | Boonswang Law Firm As a general rule, they do not tax proceeds from a life insurance policy as income to…
Read The Article
A Physician’s Guide to Building an Emergency Fund
While a career in medicine is often financially rewarding, it also often comes with significant debt from student loans. S…
Read The Article
Physician Contracts, Disability Insurance and Investments
Contracts: Horrible Unexpected Results Of Casual Contracts It’s tempting to trust your new employer and assume he or she…
Read The Article
New Employer Insurance Plans
Be prepared for the transition to a new employer by obtaining private disability insurance before the employer paid plan r…
Read The Article
Employment and Income Changes
When a doctor changes jobs or their income increases, their disability income protection plan may need to change. It is du…
Read The Article
How to Start a Medical Practice
For many physicians, the decision to start their own practice can be a difficult one. While many physicians understand the…
Read The Article
Practice Start Up Webinar
Private Practice Start-Up Webinar Virtual Learning Session Filling The Gap Between Medical Training And Business Training …
Read The Article
