(Bloomberg) -- Athenahealth Inc. will pay former Chief Executive Officer Jonathan Bush $4.83 million if the company is sold with his help in coming months.
Bush, who stepped down in June after being accused of sexual misconduct, will receive an additional $2 million in early 2020 if he upholds a non-compete agreement with the health-technology firm, according to a regulatory filing Wednesday.
Athenahealth, based in Watertown, Massachusetts, has said it plans to explore a sale or merger. This year, activist Elliott Management Corp. proposed buying the firm for $160 a share, saying it had been mismanaged and would be better off in private hands.
Bush, a nephew of former President George H.W. Bush who co-founded Athenahealth in 1997, faced complaints of inappropriate behavior with female employees and reports that he assaulted his then-wife more than a decade ago.
He and his family owned about 1 percent of the firm's shares as of June 1. He forfeited equity awards worth $17.8 million when he resigned.
--With assistance from Jenn Zhao.
To contact the reporters on this story: Anders Melin in New York at amelin3@bloomberg.net;Alicia Ritcey in New York at aritcey@bloomberg.net
To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Peter Eichenbaum, David Scheer
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