Bank of Ireland's annual report shows that former chief executive Brian Goggin, who resigned in February, was paid a total of just over €3m in the year to the end of March.
Mr Goggin's salary was lower at €1.17m, but he also received a €1.46m payment. This was because under his contract, he was entitled to 12 months' notice. As he left the bank in March, he received 12 months' pay in lieu of this.
New chief executive Riche Boucher received just over €1m in the year.
In the annual report, chairman Richard Burrows - who is stepping down in July - said total pay for executive directors had been cut by at least a third and no increases or bonuses would be given in 2009 or 2010 for these executives.
The bank also announced the proposed appointment of Patrick O'Sullivan as a non-executive director at its AGM on July 3. Mr O'Sullivan retired recently as vice chairman and chief growth officer of Zurich Financial Services Group, based in Switzerland.
