PoliticalChristine Lagarde Black Hooded-Top
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Christine Lagarde Black Hooded-Top: For most it is often said that there are two inevitabilities in life: death and taxes. Not so for the current Managing Director of the International Monetary Fund, Christine Lagarde. An extract from her terms of appointment reads as follows:
3. (a) Your salary as Managing Director of the Fund shall be $467,940 per annum. As explained in Section 14(b) of the By-Laws, this salary shall be net of income taxes.
(b) You will receive an allowance in the aggregate amount of $83,760 per annum, similarly net of any income taxes, payable in equal monthly instalments, without any certification or justification by you, to enable you to maintain, in the interests of the Fund, a scale of living appropriate to your position as Managing Director and to the Fund's need for representation. In addition, you will be reimbursed for reasonable expenses actually incurred for entertainment directly related to the business of the Fund.
(c) The Fund will reimburse you per diem at the rate applicable to Executive Directors plus reasonable vouchered expenses not covered by the per diem, including all hotel expenses, incurred by you for travel in the interest of the Fund. Such expenses shall include travel and hotel expenses of your spouse/partner in attending Annual Meetings of the Board of Governors held outside the Washington, D.C. area, and in accompanying you on official travel in circumstances where this is in the interest of the Fund.
3. (a) Your salary as Managing Director of the Fund shall be $467,940 per annum. As explained in Section 14(b) of the By-Laws, this salary shall be net of income taxes.
(b) You will receive an allowance in the aggregate amount of $83,760 per annum, similarly net of any income taxes, payable in equal monthly instalments, without any certification or justification by you, to enable you to maintain, in the interests of the Fund, a scale of living appropriate to your position as Managing Director and to the Fund's need for representation. In addition, you will be reimbursed for reasonable expenses actually incurred for entertainment directly related to the business of the Fund.
(c) The Fund will reimburse you per diem at the rate applicable to Executive Directors plus reasonable vouchered expenses not covered by the per diem, including all hotel expenses, incurred by you for travel in the interest of the Fund. Such expenses shall include travel and hotel expenses of your spouse/partner in attending Annual Meetings of the Board of Governors held outside the Washington, D.C. area, and in accompanying you on official travel in circumstances where this is in the interest of the Fund.
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