Alphyra's proposed merger with Cardpoint will net tidy pay rises for the Irish company's chief executive and its head of finance.

According to the admission document for Payzone, Mr Nagle will earn a basic salary of €400,000 as chief executive of the merged entity.

This represents a 23 per cent rise on the €325,000 in basic salary and fees that Mr Nagle earned with Alphyra in 2006, according to the document.

Mr Nagle could also receive a bonus of up to 50 per cent of his salary and a pension contribution of 10 per cent of his salary. The document states that Mr Nagle is entitled to car expenses up to a maximum of €22,855 and 29 days paid holiday.

Mr Nagle's total remuneration in 2006 with Alphyra was €450,008. His salary was supplemented by a bonus of €65,000, benefits of €27,512 and a pension contribution of €32,496.

Mr Williamson, meanwhile, will be paid a salary of €300,000 as chief financial officer of Payzone.

This is a 20 per cent rise on the €250,000 basic salary he earned with Alphyra in 2006.

Mr Williamson's total remuneration that year was €351,351. The Alphyra finance chief will also be eligible for a bonus of up to half his salary, a 10 per cent pension contribution, car expenses of €22,000 and 27 days paid holiday.