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  1. nurselove757

    Contract Penalty fee $30,000

    Hello everyone. I am still in the process of negotiating... waiting to see what happens.
  2. nurselove757

    Contract Penalty fee $30,000

    Hello everyone, I am a fairly new nurse practitioner with only two years of experience. I recently got a job offer at a company that I really like. Although I agree with most contents of the contract, there is one part that I’m very cautious of. Please look at the paragraph below. Contract states three months of notice required before I quit this job. I have been hearing that the standard is two months. Moreover, I do not like the fact that if I don’t give them a three month notice, I will end up owing them $30,000. Is this normal? I have called the human resources department and ask them to remove this monetary amount. The three month notice doesn’t bother me as much as the amount that is listed in the contract. I know I will have to give 2 to 3 months notice before I quit anyways, because if I apply to a new place it takes about 2 to 3 months to get credentialed at a new place. I know the chances of something bad happening and myself owing them $30,000 just because I walked out of the facility without giving them a 90 day notice is very less then likely. But I am just trying to protect myself and trying to understand what the industry norm is. “This Provider acknowledges that COMPANY X is relying on Provider to provide 90 days written notice of termination of the Agreement. In the event that Provider breaches this Agreement by failing to provide 90 days written notice of termination, COMPANY X will suffer substantial damages as a result. These damages include, but are not limited to, the costs of locating a replacement, the loss of services during the search for a replacement and the costs of unused facilities. Both Provider and COMPANY X agree that these damages are difficult to predict and to determine, and they have, therefore. agreed to the amount of ****Thirty Thousand Dollars ($30,000)**** as the amount of liquidated damages (not a penalty) to be paid by Provider to COMPANY X in the event that Provider fails to provide 90 days written notice of termination, as required by this Agreement.”