04/19/2015 // Dallas, Texas, United States // Attorney Keith Clouse // Keith Clouse // (press release)
Dallas physician employment lawyer Keith Clouse regularly counsels physicians regarding their resignations. As part of the resignation process, a physician must review all signed documents so that he understands both what he has promised to do and what has been promised to him.
Documents to review include: an employment agreement, a shareholders’ agreement, an operating agreement, a deferred compensation arrangement, a retirement plan, a malpractice insurance agreement, and the practice’s policies and procedures manual.
The physician should pay particular attention to certain provisions:
- Advanced notice. The physician will likely be required to give advance written notice of his intention to leave. Failure to do so could result in a breach of contract claim.
- Forfeiture provisions. Some retirement plans may require an employee to work for a particular time period in order to vest. A physician will not wish to leave prematurely and forfeit significant funds.
- Insurance provisions. A physician needs “tail” insurance coverage to cover claims that may be made after his employment ends. If his employment agreement does not already provide for tail insurance, he will need to take out an additional policy.
- Noncompete provision. The doctor may be prohibited from practicing within a particular area unless he buys out the noncompete agreement. The physician may also be prohibited from soliciting the practice’s employees to work for a new employer.
This article is presented by the Dallas employment attorneys at Clouse Dunn LLP. To speak to an employment law attorney, send an email to [email protected] or call (214) 239-2705.
Address: 1201 Elm Street Suite 5200 Dallas, Texas 75270 – 2142