Physician Shareholder and Physician Employee Liquidated Damages. The employment agreement terms described in Sections 9.2 and 9.3 of this Agreement will provide that the Physician Shareholders and Physician Employees (existing or future) may be released from the restrictive covenants described in Sections 9.2(b) and (9.3(b) contained in their employment agreement by paying Liquidated Damages in the amount of the lesser of Two Hundred Thousand Dollars ($200,000) or one (1) times such physician's income, as reported to the Internal Revenue Service for the previous twelve (12) months. In addition, if a Physician Shareholder or Physician Employee received any ProMedCo consideration pursuant to the CFP Stock Purchase Agreement or the FMC Stock Purchase Agreement, and said Physician Shareholder or Physician Employee terminates their employment agreement with CPC for any reason (other than death or disability) prior to the seventh anniversary of the CFP Stock Purchase Agreement and the FMC Stock Purchase Agreement, or is terminated for cause by CPC prior to the seventh anniversary of the CFP Stock Purchase Agreement and the FMC Stock Purchase Agreement, then said Physician Shareholder or Physician Employee will forfeit any Unredeemed Equity, as hereinafter defined, that was yet to be received pursuant to the CFP Stock Purchase Agreement or the FMC Stock Purchase Agreement, as the case may be. Such payments shall be made to ProMedCo by CPC simultaneously with the payment by the physician to CPC. Such payment shall be first applied to all costs incurred by ProMedCo in the enforcement of the employment agreement for that departing physician and in recruiting a replacement physician for that departing physician. The remainder, if any, shall become an additional service fee to be paid to ProMedCo pursuant to Section 7. The accounting treatment of such funds shall be consistently applied and approved by ProMedCo's independent certified public accountants and the Policy Council.
Physician Shareholder and Physician Employee Liquidated Damages. After the fifth (5th) anniversary of the date hereof, the Physician Shareholders and Physician Employees may be released from their Restrictive Covenants with the written consent of Manager by paying liquidated damages in an amount as follows:
Physician Shareholder and Physician Employee Liquidated Damages. The Restrictive Covenants described above may provide that the Physician Shareholders and Physician Employees (existing or future) with the written consent of Manager may be released from their Restrictive Covenants by paying liquidated damages under this Agreement in an amount as follows:
Physician Shareholder and Physician Employee Liquidated Damages
