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BORDA, LORENZ & GEGGIE PLLC<= /b>
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BORDA, LORENZ & GEGGIE PLLC<= /b>
PRESENTAT= ION TO HENRY FORD HOSPITAL
Employment Contracts for Physicians
 
Date:  February 29, 2008 =
Presenters:
Walter J. Borda <= /div>
Benjamin F. Wu
Immigration Specialist:
Holly A. Sales&= #13;
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WHO WE ARE --
=
nBorda, Lorenz & Geggie is a boutique
nlaw = firm in Novi, MI specializing in:
n
n - Executive and professional= representation
n
n - Business and transactional matters
n
n - Automotive supplier representation
n
n - Henry Ford Hospital discla= imer
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nPrin= cipal Contacts --
n
–Walter J. Borda  248-735-4980
n = wborda@borda-lorenz.com
n
–Joseph F. Lorenz  248-735-8800
n = lorenz@borda-lorenz.com
n = ;
n       Thomas H. Geggie  248-227-2930
n = geggie@borda-lorenz.com
n = ;
n      Benjamin F. Wu  248-735-8800
n bfwu@borda-lorenz.com
n
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n
n
n
nTHE ELEMENTS OF PHYSICIANS = CONTRACTS
n<= /span>
nBy: Walter J. Borda
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nSIX BASIC ELEMENTS REQUIRED IN AN= Y CONTRACT:
n
1)Offer
2)Acceptance
3)Consideration
4)Form of Contract <= /div>
5)Capacity to Contract
6)Legality of Matter
n <= /span>
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n1.  OFFER:
n
n &nbs= p; - a promise to do or forbear from doing something within a certain time period.
n
n “An offer is the manifestation by one party of the willingness to enter into a <= /span>bargain with another.  It creates in the offeree a power of acceptance.”= =
§
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§ =
§2.  ACCEPTANCE:
§
§ - an acceptance of an offer is made throu= gh a promise or performance.
§
§ “An acceptance is the manifestation by the offeree that he or she agrees to the terms of the offer and is willing= = to be bound to those terms.”
n
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n3.  Consideration:
n
n There = must be a legal and adequate inducement given –
n
n - in exchange for a promise:
n
n (i) t= o do something that one is not legally required to d= o, or
n
n (ii) = to forbear from doing something that one is legally allowed to do.
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nConsideration (cont.):
n
n
n Consideration is the quid pro quo, or the “this for that.” 
n
n
n
n Without consideration, no agr= eement can be enforceable as a contract.
n
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n4.  FORM OF THE CONTRACT:
n
n - the contract must be in proper legal        <= span style=3D'mso-bidi-font-family:"Times New Roman"'>form.
n
<= span style=3D'mso-special-format:nobullet;display:none;color:olive;mso-color-in= dex: 4;font-family:Wingdings;font-size:80%'>n <= /span>- Some contracts must be in writing:
n
n
n - Contracts for the transfer of interest in land
n
n - Contracts which, by their terms, = cannot be performed within a year
n
n
n
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nForm = of Contract (cont):
n
- - Contracts where one party= agree= s to act as a surety for anothe= r
-
n - Contracts made for the sa= le of      <= /b> goods for $5,000 or more = ;
n
n - Contracts made in conside= ration of marriage <= /span>
n
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§5.  CAPACITY TO CONTRACT:
§
§- parties must have the legal capacity and competency to contract.
§<= /span>
§“If a party is incompetent beca= use of age, insanity, intoxication, or statutory disability, the contract made may be avoided.”
n
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–6. LEGALITY OF THE MATTER: =
–
§ - the subject of the contract must be legally permissible.&#= 13;
§
§ “An agreement is ‘illegal’ if eit= her its formation or its performance is criminal or otherwise against public policy.= 221;
<= span style=3D'mso-special-format:bullet;color:olive;mso-color-index:4;position:= absolute; left:-8.41%;font-family:Wingdings;font-size:80%'>n
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PHYSICIAN CONTRACTS
n
nSOME EMPLOYERS DO = 211;
nSOME DON= 217;T
n
nHOW DO THEY DIFFER FROM OTHER CONTRACTS?
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PHYSICIAN CONTRACTS
=
n
nYOU !!
n<= u>
nTHEY’RE PERSONAL !
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n THOSE THAT DON’T USE SPECIFIC CONTRACTS:
n
nRely = on Employee Manual
nOften based on principal of employment at-will
nUnifo= rm rules for all
<= span class=3DBB style=3D'position:absolute;left:-4.43%;top:.22em'>nSimplicity of administration
nOften contain general policy = statements, as well as specific rules= 3;
<= span class=3DBB style=3D'position:absolute;left:-4.43%;top:.22em'>nTerms public
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nTHOSE THAT DO:
n
nBased on specific negotiations, and emplo= yment for a specified period
nOften necessary to attract high poten= tial, mobile, highly attractive candidates
nOften aimed at potential partners/co-owner= s
nTerms= may not be<= span lang=3DEN-US style=3D'font-family:Arial;mso-ascii-font-family:Arial;mso-fa= reast-font-family: "MS PGothic";mso-hansi-font-family:Arial;mso-fareast-language:JA'>unifo= rm
nTerms usually confidential
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nJob Description:
n =
<= span style=3D'font-size:114%'>§Specific Duties
<= span style=3D'font-size:114%'>§General Duties
<= span style=3D'font-size:114%'>§Title
<= span style=3D'font-size:114%'>§Reporting Relationship
<= span style=3D'font-size:114%'>§Functions Supervised/Managed
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nCompensation:
n
<= span style=3D'font-size:114%'>§Base Salary
<= span style=3D'font-size:114%'>§Bonus, usually performance based and measurable/scalable&#= 13;
<= span style=3D'font-size:114%'>§Sign-up/Completion Bonus
<= span style=3D'font-size:114%'>§Stock Options/Equity participation
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nBenefits (general)
n
<= span style=3D'font-size:114%'>§Medical/De= ntal/Vision
§<= /span>
<= span style=3D'font-size:114%'>§401K/403B Plans
§<= /span>
<= span style=3D'font-size:114%'>§Retirement Plans
§<= /span>
<= span style=3D'font-size:114%'>§Public Hol= idays
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nBenefits (specific)
<= span style=3D'font-size:114%'>§Personal vacation days
<= span style=3D'font-size:114%'>§Car/car allowance
<= span style=3D'font-size:114%'>§Club membership
<= span style=3D'font-size:114%'>§Expense allowance
<= span style=3D'font-size:114%'>§Investment counsel
<= span style=3D'font-size:114%'>§Spouse travel/official functions
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nPartnership/O= wnership:
n
<= span style=3D'font-size:114%'>§Time to buy in
§
<= span style=3D'font-size:114%'>§Interest &= #8211; partnership, stock, etc
§
<= span style=3D'font-size:114%'>§Amount and timing of payment, and percent of ownership
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nPartnership/O= wnership (cont):
n
<= span style=3D'font-size:114%'>§Rights = ;
§<= /span>
<= span style=3D'font-size:114%'>§Sale Back<= /b>
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
<= span style=3D'font-size:114%'>n Term: =
<= span style=3D'font-size:133%'>§Number of years
§<= /span>
<= span style=3D'font-size:133%'>§Renewable term, automatic or by specific agreement
§
<= span style=3D'font-size:133%'>§If a contract does not specify a term, it is terminable at will
§
§<= /span>
n
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nSpecial Considerations:
n
<= span style=3D'font-size:133%'>§Medical Malpractice Insurance
<= span style=3D'font-size:160%'>-Limits =
<= span style=3D'font-size:160%'>-Attorney fee= s
–- Tail coverage
§<= /span>
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nSpecial Considerations (cont):
n
§Continuing Medical Education
§- Who Pays
§- Paid time off
§
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
n  Speci= al Considerations (cont):
 
<= span style=3D'font-size:114%'> Hours of work -
 - Helpful for doctors with children
 - Avoids dilution of pay
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nSpecial Considerations (cont):
n
<= span style=3D'font-size:114%'>§Location o= f work -
§- Given multiple locations of hospital groups, doctors may be required to = transfer to inconvenient locations = without additional compensation.
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nTermination:&= #13;
n
<= span style=3D'font-size:114%'>§At-will= 3;
§<= /span>
<= span style=3D'font-size:114%'>§For cause&= #13;
§- Definition of cause is critical
§<= /span>
<= span style=3D'font-size:114%'>§Moral Turpitude
§<= /span>
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nCOMPENSATION ON TERMINATION:
n
<= span style=3D'font-size:114%'>§Base Salar= y
<= span style=3D'font-size:114%'>§Bonus =
<= span style=3D'font-size:114%'>§Stock Options
<= span style=3D'font-size:114%'>§Benefits
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nPOST TERMINATI= ON OBLIGATIONS:
n
<= span style=3D'font-size:114%'>§Confidenti= ality
<= span style=3D'font-size:114%'>§Non-Compet= e
§- Time
§- Geography
§- Industry
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PHYSICIAN CONTRACTS
KEY REQUIREMENTS
nDISPUTE RESOLUTION:
n
<= span style=3D'font-size:114%'>§Mediation/= Arbitration/Litigation
§<= /span>
<= span style=3D'font-size:114%'>§Applicable Law/Jurisdiction
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n
nBORDA, LORENZ & GEGGIE PLLC
------=_NextPart_01C87E0C.8B8B5210 Content-Location: file:///C:/EA435E92/Physician_Employment_Contracts2_files/slide0094_image003.gif Content-Transfer-Encoding: base64 Content-Type: image/gif R0lGODlh0AF6AHcAMSH+GlNvZnR3YXJlOiBNaWNyb3NvZnQgT2ZmaWNlACH5BAEAAAAALAAAAADO AXgAgAAAAJkzAAL/jI+py+0Po5y02ouz3rz7D4YgQJbmiabqyrbuC8fyTNf2jef6zvf+vzMAh8Si 8YhMKpfMplEoikqn1Kr1is1qt1ESlAsOi8fksvnM9QYA6Lb7DY/L5xk1W+jM6/f8vv8PiHRgN3hH d4iYqLjICGFIiNcoOUlZaXn1eJe5Ftjp+QkaKjqq8sVp6kWqusra6vragqpZyAlre4ubq0sk27v7 CxwsHNy7RjuMnKy8DFi8yQwdLT0dZBxpfUqtvc3d7XzcHS4+DvwdSY6erk5qnr3+Dh/v1J4qb3+P z0PPlt/v/x8LGyR3AAsazLev1sGFDNMlbAgxojeBs85JvIhx2cOM/xw77troMaRIViBHmjzZqSTK lSznUfTVMqZMQS9fzryJ04fKnDx7wtjpM6hQE0CHGu1Z9KjSmUmXOl3Z9KlUkVGnWs1Y9apWiFm3 ejXY9avYfmHHmpVX9qxadWnXuhXX9q1cbXHn2oVW965eZHn3+v3V96/gW4EHG25V+LDiUYkXO/bU +LFkP5EnW85T+bJmJZk3ey7S+bNonTWfjT4NuTQ41Kwpq7bYOrae0LJrB9xk07buJLR3+x4InN/v 4T96E7dt/Ljs5MpbM2+O+jn00dKnf65ufTP27Je3c5/s/fvj8OIXky9/+Dz6werX/23vfi/8+Hfn 059r//7b/PrX8q3vf9Z/AI4l4IBfFWjgVggmeNWCDE7l4INPRSjhUhRWeNSFGA6l4YZBdeghUq8R FGJtIJaI04koMjViPSvGpuKLLcUoI1QtCldjdDcqlKNoNPY40o9AhiTkkB0VaSRWOyZ53ZJMaufk k91FKSV4O16CZZZabsklbplU2eQpFIHpGS3YcIlmmmquScdAbL4JZ5xyUuHmnHbeiWeeDNhB5nJ6 /glooIIOSmihhh5SAAA7 ------=_NextPart_01C87E0C.8B8B5210 Content-Location: file:///C:/EA435E92/Physician_Employment_Contracts2_files/slide0093.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" BORDA, LORENZ & GEGGIE PLLC
n
n
nTHE PROCESS OF
nNEGOTIATING PHYSICIAN <= /span>CONTRACTS
n
nBy: Benjamin F. Wu
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PHYSICIAN CONTRACTS
BASIC NEGOTIATION PROCESS <= /span>
n Evaluating Offers: <= /span>
<= span style=3D'font-size:114%'>§Do you understand your own expectations and objectives? <= /span>
<= span style=3D'font-size:114%'>§What do the terms of the contract mean?
<= span style=3D'font-size:114%'>§Do the terms of the contract satisfy your objectives and goals?<= /span>
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PHYSICIAN CONTRACTS
BASIC NEGOTIATION PROCESS <= /span>
n Evaluating Offers (cont):&= #13;
§Prioritize and rank the terms of <= /span>the contract according to yo= ur objectives
§Assign values to each of the terms of the contract
§Establish a BATNA (Best Alternative to a Negotiated = Agreement)
<= span style=3D'mso-special-format:bullet;color:olive;mso-color-index:4;position:= absolute; left:-4.84%;font-family:Wingdings;font-size:80%'>n
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PHYSICIAN CONTRACTS
BASIC NEGOTIATION PROCESS<= /b>