(b) If a physician elects to exercise the option to purchase a release from a noncompete agreement under section 2(a)(4) of this chapter, the employer shall negotiate in good faith with the physician to determine a reasonable purchase price.

(1) a physician notifies the employer of the physician’s election to exercise the option to purchase a release from the noncompete agreement under section 2(a)(4) of this chapter; and

(2) the physician and the employer cannot agree on a reasonable purchase price;

the physician or the employer may serve a notice of intent to pursue mediation.

     (d) A party shall serve a notice of intent to pursue mediation under subsection (c) on the other party not later than thirty-five (35) days after the physician notifies the employer under subsection (c)(1).

     (e) The parties shall mutually select a mediator to conduct a mediation under this section.

     (f) Unless the parties agree otherwise, the mediation must take place in the city within Indiana that:

(1) is closest to the physician’s primary place of employment during the term of the physician’s contract with the employer; and

(2) has a population of more than fifty thousand (50,000).

     (g) The mediation must conclude not later than forty-five (45) days after the date that the notice of intent to pursue mediation was served under subsection (c).

     (h) Unless the parties agree otherwise, the cost of the mediator and any other direct costs of the mediation must be equally divided between the parties engaged in the mediation. All other costs must be paid by the party incurring them.

As added by P.L.165-2023, SEC.4.