The top 10 executives on Billboard's annual ranking received an average of just 10% of their pay from base salaries -- on the low side for the corporate world.
Dolan will be paid a based salary of $1.5 million per year and is expected to receive one or more incentive awards worth at least $8.6 million.
The CEO has offloaded 675,000 shares in the company, according to a new Securities & Exchange Commission filing.
More than 53% of votes cast rejected 2022 compensation packages for Rapino and other top executives.
The pay bump, which includes a signing bonus and a performance bonus, comes amid a rocky time for the company.
The agreement takes the executive from an all-cash compensation package to one that combines cash and equity, including a one-time transition equity award worth $100 million.
