When entering into a physician employment agreement, each party has specific goals and interests. The physician generally looks for job security and the ability to make decisions that benefit her throughout the employment relationship. Conversely, the practice will want to maintain a degree of control over the physician. Four key issues that are scrutinized by both parties are: (i) restrictive covenants, (ii) termination clauses, (iii) malpractice insurance and (iv) compensation.
Restrictive Covenants
Restrictive covenants are customarily found in physician employment agreements and typically enforced by New Jersey courts. Such covenants include both noncompetition and nonsolicitation elements. During the term of the agreement and upon termination of the physician’s employment, the physician may be prevented from competing with the employer in a particular geographic area for a specific period of time and/or from soliciting patients, referral sources and employees of the employer.
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