Mr. Gerry Quinn:

In the general sense we can see why calling it a severance payment is challenging but it is the overall framework of settlements that were arrived at. The circumstances were as I outlined in my opening statement. An individual was offered a role and resigned an existing position but then made a claim based on not being made fully aware, or not being made aware in sufficient time, of all the various elements associated with the terms and conditions of the Central Bank of Ireland. Clearly, there was a deficiency in our process of offering the particular job. The individual took a case on the basis of resigning a particular job and not being willing to take up the role in our organisation, which was still open and available if the person wished to do so. The person decided not to do so and took a case to the High Court for a variety of reasons. We looked at the circumstances of the case and took legal advice. We examined the potential costs of High Court proceedings and the likelihood of succeeding. On this basis a negotiated settlement was arrived at using the legal advice.