The former chief executive of Hertz agreed to pay nearly $2.2m to settle claims that he pressured subordinates to “find money” to meet financial targets, causing employees to violate accounting rules, according to regulators.

Mark Frissora neither admitted nor denied the Securities and Exchange Commission’s allegations but will refund Hertz nearly $2m in incentive compensation and pay a $200,000 penalty to the government. The deal was announced Thursday and is subject to court approval.