Tynecastle boss Gary Locke revealed the first-team duo had accepted an offer proposed by the club to receive reduced salary payments.
Football finance trouble-shooters from BDO have been appointed to oversee the rescue efforts and four members of Locke's squad are expected to be made redundant at a later date.
Locke told Press Association Sport: "There is no update on the names of the players to be made redundant but the good thing is that two players - Ryan Stevenson and Jamie MacDonald - have agreed to take wage cuts to stay.
"That's a bit of positive news, especially for myself. It's a magnificent gesture from the two players and they are the type of players we want at our football club. We have all made sacrifices over the last few days and now we just hope the fans can do the same."
The Edinburgh club owe £25 million to Lithuanian companies UBIG and Ukio Bankas.
Both firms were formerly controlled by ex-Hearts owner Vladimir Romanov but UBIG are now waiting to be put into administration after its assets were frozen, while Ukio Bankas will soon be liquidated after a Kaunas court declared it insolvent.
The threat of court action over a partially-paid £100,000 tax bill sparked the decision to place Hearts into administration.
The administrators now running the club's affairs on Thursday laid off 14 members of the Jambos' backroom staff. BDO have also confirmed that three Lithuanian directors - Roman Romanov, Sergejus Fedotovas and Vitalijus Vasiliauskas - have been sacked.
In a statement, the accountancy firm said: "The Lithuanian directors were all sacked immediately from the club and have no involvement in its future."