ACCOUNTS JUST filed for Eircom Ltd show that it paid €1.2 million in severance payments to directors in the year to the end of June 2009.

A spokesman for Eircom said this related to a number of directors who stepped down during the 12-month period.

Seven directors resigned from Eircom during the financial year, including former chief executive Rex Comb, and fellow Australians Peter O’Connell and Rob Topfer, who engineered Babcock Brown’s takeover of the business.

The others include Frenchman Pierre Danone, former deputy chairman Con Scanlon, stockbroker John Conroy and John Fanning.

Comb last year sued Eircom for €4.7 million that he claimed he was owed in bonus payments but later dropped the action. These account seem to indicate he didn’t get a knockout golden handshake.

Total emoluments paid to directors fell €7.4 million last year compared with €7.9 million in fiscal 2008. This included the severance payments.

They got €500,000 between them for services as directors and €5.3 million for “other” services.

The accounts also show that Eircom paid a dividend on September 1st last of €175 million to Valentia Telecommunications, which was controlled by Sydney- based Eircom Holdings.

A dividend of €870 million was paid in the year to the end of June.

Eircom made a profit of €311 million in the 12-month period.