The Burt music chain is making $6 million in salary and stock deals for its chief executive, according to people familiar with the matter.
In all, the people said, Burt will pay about $6m to its executives and the rest will go to the company’s board of directors.
The payments are expected to be disclosed in the next two weeks.
The people asked not to be identified discussing the internal discussions.
Burt Music Chief Executive Mike Fusco, who was previously chief operating officer, will also receive stock options, according the people.
Burt said the payouts will be announced in the coming weeks.
Burlings and promotions for the rest of the company are not expected to begin until next year.
Busto, a San Francisco-based music company that produces music for the Internet, has been struggling to grow in the wake of its 2009 acquisition of Island Music, a label owned by Sony Music Entertainment.
Burbos revenue fell sharply in 2009, when its founder and chief executive fell ill.
The company’s stock price fell almost 25% during the year.
The company had to sell its record label to Sony in a deal valued at $1.6 billion.
Burbos is expected to file for Chapter 11 bankruptcy protection later this year.