Stephen Bollenbach, the retiring chief executive of Hilton Hotels Corp., will walk away from the Beverly Hills-based hotel chain owner and operator with about $125 million when private equity firm Blackstone Group buys the company.

The details of the payment came as Hilton disclosed that it is facing a dozen lawsuits filed by shareholders from California and Delaware charging the company’s board with breaching its fiduciary duties in agreeing to the $20 billion takeover by the New York-based equity firm.

Hilton said that it considered the payout packages of Bollenbach and other directors and executives in reaching its decision to approve the merger. The cash-out value of Bollenbach’s stock options are just over $74 million, performance share units $13 million, and restricted stock units $2.2 million, according to a filing with the Securities and Exchange Commission.

Bollenbach, who plans to retire at the end of the year, will also receive close to $35 million under a deferred compensation plan.

Bollenbach will become chairman of KB Home upon his retirement.

Shares in Hilton were up 29 cents $43.65 in afternoon trading Friday on the New York Stock Exchange.