Physician Contract Glossary · Contract Structure
Term of Contract
The term of the contract is how long the agreement lasts before it ends or renews.
The term is the contract's lifespan, commonly one to three years, after which it either expires, renews, or rolls over automatically. The term interacts with everything: termination rights, renewal mechanics, and how long you are locked into the compensation model. A long term with no clean exit is a different commitment than a one-year term that renews by agreement.
Read the term together with the termination and renewal clauses, not in isolation. A multi-year term only protects you if your exit rights inside it are real.
Related terms
The PGY-Final-Year Path
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