Baton Rouge-based Amedisys Inc.’s board of directors will pay chief executive officer William F. Borne and three other executives retention bonuses under an agreement filed Tuesday with the U.S. Securities and Exchange Commission.
Borne’s retention bonus is $187,500. Chief Compliance Officer Jeffrey Jeter’s bonus is $31,250; Chief Medical Officer Dr. Michael Fleming’s bonus is $35.625; and General Counsel and Corporate Secretary David Bucey’s $32,500.
“The retention bonuses were paid in recognition of the value that each executive officer brings to Amedisys and in encouragement of their continued service to the company,” according to the SEC filing.
Borne recommended the board pay the bonuses to Jeter, Fleming and Bucey, according to the SEC filing. Amedisys President and Chief Financial Officer Ronald LaBorde was not awarded a retention bonus because he joined the company in November.
Each executive will have to repay the bonus if he is fired or voluntarily resigns before April 1, 2013. The executives must repay two-thirds of the bonus if they are fired or resign between April 1, 2013, and April 1, 2014. They must pay back a third of the bonus if they are fired or resign between April 1, 2014, and April 1, 2015.