Former Olympus chief executive Michael Woodford has settled his claim of unfair dismissal with the Japanese camera company.
Mr Woodford, 52, was fired last October after he questioned dubious payments made by the firm.
After initially denying the accusations, Olympus eventually admitted it had hidden $US1.7 billion in losses over 20 years.
Mr Woodford was said to be asking for $US60 million from a tribunal in London.
But after a night of negotiations, Mr Woodford's lawyer told the tribunal judge that they had reached a settlement and that final agreement would depend on ratification by the Olympus board at a meeting on 8 June.
Mr Woodford was the first foreign boss appointed at Olympus. He was fired last October, two weeks into the job after persistently warning about corruption at the upper levels of the company.