Physician Contract Glossary · Restrictive Covenants
Buyout Amount
A buyout amount is the sum you can pay to be released from a non-compete restriction.
Some non-competes include a buyout: pay a defined amount and the restriction lifts. A handful of states, including Texas, require physician non-competes to offer a buyout at a reasonable price. The amount is sometimes a flat sum and sometimes a formula tied to your salary. A fair buyout turns an absolute barrier into a priced option, which is far better than a non-compete you cannot escape at all.
If a buyout exists, scrutinize how the amount is calculated, because a buyout priced at a punishing multiple of salary is a non-compete in disguise. If none exists, negotiate one, especially in states that do not mandate it.
Related terms
The Signwise System
One term is one piece. Here is the whole map.
See every option
Browse 53,000+ vetted physician-owned practices across 51 jurisdictions and 28 specialties.
STEP 02Read what you are signing
The Real Contract walks you through the clauses on this page, line by line.
STEP 03Sign with a guide
Find a physician contract attorney in your state before you sign anything.
Stop being recruited. Start choosing.
You are about to sign something the senior people in your program signed without reading.
They had no guide either. You do. Start with the option that costs you nothing: see every practice that is actually out there before anyone hands you a contract.
Contact Lawyers in Arizona
Ā
Disclaimer: The use of the internet or this form for communication with any firm or any individual member of a firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.