Bank of Ireland's chief executive Richie Boucher was paid €623,000 last year, however his total remuneration package came to €831,000.
The bank's annual report shows that he was awarded €690,000 but waived €67,000 of that.
A spokesperson for the bank said the arrangement had been agreed with the former Minister for Finance Brian Lenihan.
The spokesperson said Mr Boucher's core salary was €500,000, which was within the Government's salary cap. He was paid a further €123,000 as pension cash allowance for waiving his right to retire at the age of 55, the spokesperson said.
She added the salary for Mr Boucher was the same as in 2010.
Mr Boucher also received a contribution to his pension of €174,000 from the bank. He received other remuneration of €34,000 which can cover car allowance, club membership and benefits in kind.
Bank of Ireland also said today that its Annual General Court meeting (AGM) will be held in UCD on April 24.
