If the group floats, CEO Richard Moat will enjoy an extraordinary payday...
Eir's senior executives and managers will split a windfall of €181.6 million when the company refloats or is sold.
According to figures seen by the Irish Independent, a large slice of that money would go to CEO Richard Moat, who is currently overseeing a €1.2 billion investment in Eir's network as the former semi-state telecom company repositions itself as a media firm.
The company puts its current value at €1.29 billion.
€3.5bn earlier this year after Singapore sovereign wealth fund GIC took a 16pc stake in Eir, investing €230m in the business.
Eir executives have already benefited from a liquidity event that took place in June 2015.
That saw the Luxembourg company that holds the shares on behalf of Eir executives buy €56.2m worth of a specific class of shares in return for either another class of shares in Eircom Holding SA, and/or cash, depending on each shareholders' decision.
Eir had planned to return to the stock market in 2014, which would have earned Moat – then Eir's chief financial officer – a total of €60 million in bonuses.
Though that flotation was pulled, it remains the most likely exit strategy for Eir's private equity shareholders.
Singapore's sovereign wealth fund GIC acquired a minority stake in the group last June. It received a 16% slice for a €230m investment. Eir now controlled by three major shareholders, along with Anchorage and Davidson Kempner. At the time of the acquisition, the group's enterprise worth, including debt and equity, was guided at €3.5bn.
It appointed three new non-executive directors in December, almost doubling the size of its board.