Matt Lauer’s years of sexual misconduct will cost him many millions of dollars, as NBC said Friday they will not be paying the former host beyond his last day of work.
The Associated Press reported that Lauer was fired “for cause,” meaning he forfeits any claim to his $25 million annual salary going forward.
Lauer’s current contract would have run through 2018.
Page Six reported Thursday that Lauer’s lawyers were working to get him a $30 million settlement after his termination.
Most television employment contracts include “moral clauses” that void the contract if the on-air talent engages in inappropriate behavior that hurts the company’s reputation.
The network is still reeling from the sudden loss of one of its biggest stars, and facing outside scrutiny about why they either knew about Lauer's behavior and did nothing, or somehow didn't know about what one of their highest-profile employees was doing.
NBC News Chairman Andy Lack opened an internal investigation into how and why Lauer was allowed to continue with the company for so long, given his behavior.
“Many of you have asked what we are doing to learn as much as we can about the circumstances around Matt Lauer’s appalling behavior, why this was able to happen, and why it wasn’t reported sooner,” Lack wrote in an internal memo released to USA Today.
A team of NBC legal and Human Resources staff members will conduct the review of the situation.