Nobody does, obviously.
EM jobs are more like rivers than rocks. My reason for making the point is directed more towards young people get wise to the recruiting BS/lies that get told ad infinitum, like,
"We have a five year contract, therefore..." Here comes the lie, "...therefore, the terms of this job that I'm advertising to you can't change for five years. That's because we have a 'five year contract.'" {Well, yes, but not really. Can be tossed in garbage can on 90 days notice, no reason needed.} "And because..." Here comes lie #2, "...because we have several partners high up in administration, we're guaranteed to renew the contract as is or better in five years." That means little.
All are common recruiting lies and/or half truths. Every single term of a so-called "iron clad contract" can change in just a few months, on a whim if a hospital CEO wants, for any reason or no reason at all, if there is one of these 90 day, 120 day, termination-without-cause clauses.
Common scenario: ED group has great and seemingly secure contract. Lots of money, great hours, good support staffing. Hospital changes out CEO due to retirement/promotion/relocation, or whatever. New CEO comes in, desperate to make a mark, show his metal, whatever. Says, "This is crap. At my last shop, we had (insert contract clone group)________ that worked for dirt cheap and jumped when we said 'jump.' They were total lap dogs. These guys seem like ----s. What's the out clause on this contract?"
Pointdexter #2, "90 days, boss."
New CEO, "Get Jim ____ from (insert contract clone group)________ on the phone. I want them in here in 90 days. The existing ER doctors can join these guys..." (on completely new terms, new pay, new jobs, new director, new everything) "...or they can go _____themselves. Pointdexter, #2, do you see how it's done? This will increase my bonus by at least (insert dollar amount, could be $1, or $100,000, either way it's easy money to him)_______dollars." Big smile, half-belch and warm-fuzzy feeling ensue.
Point? Recruits, be wise to the recruiting BS that gets told to you. No ER contract is as secure as they make it sound. Don't put too much emphasis on finding the perfect job, or expect to keep the perfect job. The "perfect job" could vaporize on short notice, with no warning. You won't likely be out of a job, but the terms could change 180 and there's likely not much you can do about it. But you can make changes to remain mobile if a job changes in unacceptable ways, or at the least, have realistic expectations. EM jobs are more like rivers than rocks. They are rarely stable, and always changing.