breach of contract

[atee]

I recently joined a private practice after my fellowship. I am not happy for several reasons. Only good thing about this position is the pay. I have an opportunity to join a semi- academic position. Pay will be less by 4-5k/month. The new position has excellent benefits including pension. The new employer is willing to pay the breach of contract penalty which is close to 70k (they are willing to pay up to 80k)

in my current contract it states that "payments of these specified damages do not waive practice the right to make claim for further damages". I haven't disclosed to my current practice my intention to leave. My concern... what if they seek further $$.

I feel lost and not exactly sure what I should do. Any guidance is appreciated.

[billy]

how exactly are you breaching the contract? not giving enough notice? restrictive covenant? Where is the practice located (different states have different rules on non competes so you may not even need to worry)? First advice would be contact a lawyer- if you didnt use one for your initial contract negotiation, find a good employment lawyer who works with doctor contracts.

[Bmac]

Agree with billy. This is a question that warrants paying a good employment lawyer not an anonymous Internet forum.

[Tim]

Think about it. List you options. You haven't mentioned the contract length. I would NOT mention your reason for leaving until you are much further down the path.
You are smack in the middle of hiring season and the private practice may have similar feelings that things are working out. Mutual agreement might be offered. I would consider having some discussions. Disclosure, I am not a physician nor attorney. Just employment dissatisfaction is mutual on both sides a lot of time.

[Cubicle]

I'm just flabbergasted that a new employer is willing to pay your $70,000 penalty fee...

Find a lawyer.

[GUtiger]

Did you receive some sort of signing bonus with a vesting schedule? Is that what needs to be paid back? I can't imagine signing an employment contract with a 3 year term that has no way out without a penalty. Does this also mean they couldn't terminate you without paying you a $70,000 penalty? This seems weird. And to have a new employer willing to pay these penalties is even crazier. You must be an incredible candidate in a severely understaffed field, or going to practice in the middle of nowhere.