Payments After Termination - Physician Contract Glossary
Payments After Termination
Definition
How salary, bonuses, or other amounts are handled once the contract ends.
Examples in Context
“Physician shall receive all earned but unpaid compensation within 30 days of termination.”
“Upon termination of employment, all pending collections shall be credited to Physician as outlined in Exhibit B.”
“Employer shall issue final paycheck, including unused PTO and prorated bonus, within 15 business days of termination.”
Implications for Physicians
- Ensures final pay, including unused vacation or owed bonuses.
- Some contracts pay out collections on claims filed before departure.
Negotiation Tips
- Ask if you get credit for collections that come in after your departure.
- Clarify when your final check will be issued to avoid delays.
Red Flags and Pitfalls
- No mention of tail compensation if you’re on a collections-based model.
- Employer offsets or withholds pay without clear contract language.
Related Terms
FAQs
- “Am I paid for leftover PTO?”
- Some contracts include payout for unused PTO, while others may exclude it. Review your contract carefully.
- “What if my formula pay is calculated annually?”
- In such cases, you may receive a reconciliation payment after your contract ends to adjust for final collections.
- “When should I expect my final paycheck?”
- Most contracts specify final payment within 15 to 30 days. Ask to include a clear timeframe to protect your rights.