Israeli President Moshe Katsav has submitted his letter of resignation a day after accepting a plea bargain that allows rape charges against him to be dropped.

Under Thursday's deal, Mr. Katsav agreed to step down and plead guilty to charges of sexual harassment, indecent acts and harassment of a witness. He will pay damages to the complainants but he will not serve any time in prison.

Last year, four past and present employees alleged that Katsav had sexually harassed them. One said the president raped her. Mr. Katsav denied the allegations and took a leave of absence to fight the charges.

The woman who accused the president of rape described the plea bargain as "outrageous."

Some information for this report was provided by AP .