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Ah, retirement…

Dow Jones’ (DJ) outgoing general counsel, Peter Skinner, may be leaving on Dec. 31. But he’ll continue to be on the company’s payroll for the next two years. In the company’s recent Q, Dow Jones, which earlier today announced it would acquire CBS MarketWatch (MKTW) for $519 million, disclosed a lucrative consulting agreement with Skinner that will pay him more — just over 10 percent more — as a consultant than the $610,000 he made in 2003, when he was presumably working full-time. Under the consulting contract, Dow Jones will pay Skinner $675,000 in 2005, though in 2006, his salary drops to $475,000.

Still, considering that the contract doesn’t spell out a specific number of hours that Skinner is required to work, it’s not a bad little deal. In exchange, Skinner, 60, won’t be allowed to work for a competing company or compete in any other way with Dow Jones. But given the deal, why would he?