Strauss-Kahn’s Golden Parachute from IMF

Dominique Strauss-Kahn will receive an annual pension in excess of $318,000 from the International Monetary Fund (IMF) after having resigned as its chief as he prepares for a rape trial in New York, according to a report from ABC News.

Strauss-Kahn, who is current under house arrest in a Manhattan apartment after having posted a $1-million bail and an additional insurance bond of $5-million.

According to the terms of the contract he signed in late 2007 upon taking over as managing director of IMF, he received a base salary and allowance totaling almost $500,000, subject to cost of living increases.

In the event of resignation or termination, he would receive a separation allowance of 60-65 percent of his take-home pay.

ABC News calculates that this deal would entitle him to receive an annual salary of $318,000 to $349,000, effective immediately.

He would also be eligible to receive a pension payment for life, although the contract did not spell out details.

There appear to be no provisions in the contract that would prohibit payments in the event of criminal convictions.