Posted on 05/20/2011 9:46:45 AM PDT by Libloather
Ex-IMF chief Strauss-Kahn set to receive 318,000 dollars 'golden parachute'
By ANI | ANI – 43 minutes ago
New York, May 20(ANI): Former International Monetary Fund chief Dominique Strauss-Kahn, who is accused of a sex attack on a New York City hotel maid and is currently awaiting release from jail after having been granted bail on Thursday, will reportedly get an exit package which includes an annual pension of over 318,000 dollars.
According to ABC News, it is common practice for executives of big organizations to get golden parachutes when they retire or are terminated, and Strauss-Kahn's deal with the IMF is no different.
The deal gives him a "separation allowance" of 60-65 percent of his take-home pay.
That means with Wednesday's resignation letter, he is likely due 318,000 to 349,000 dollars immediately.
The terms of the agreement do not seem to allow for the payment to be withheld for any reason - including being charged with or convicted of felony sexual assault.
The employment contract also sets up Strauss-Kahn with a lifetime of pension payments.
(Excerpt) Read more at in.news.yahoo.com ...
That’ll buy a lot of Ramen noodles at the prison commissary.
Being an elitist in the ruling class does pay... in a socialist/communist system.
/sarc>
If he is indeed a billionaire as reported, then $318,000 a year is pocket change, as his investment income should easily be $50,000,000 a year.
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