Hampton Roads Bankshares [2] of Virginia, which received $80.3 million of TARP money last year, announced [3] last week that its CEO was retiring. On Friday, the bank disclosed [4] that in addition to a full slate of retirement benefits, the exec will be paid $1.3 million for “consulting duties.”

Jack Gibson, the departing CEO, evidently doesn’t think he’ll be working too hard consulting. “I can think of no better time to fulfill my personal goal of early retirement,” he said in a press release [3] announcing his exit. “It is well known within the company that I would like to retire by age 60, and I’m almost there.” During the period of his three-year consulting gig, the bank has also agreed to cover his membership dues at a local country club.

The $1.3 million that Gibson will receive roughly matches the total amount he received in salary over the last three years as CEO ($1.4 million).