Hey there, let's dive into the latest twist in Matt Lauer's story. You might remember him as the former co-host of the Today show, but his career took a dark turn after a sexual misconduct scandal surfaced. Now, as if losing his job wasn’t enough, Matt’s not getting a payout from that $20 million contract he had with NBC. That's right, folks. Despite reports that his lawyers were trying to fight for the remainder of his salary, NBC is standing firm, refusing any payout.
A Lucrative Deal Gone Wrong
In 2016, Matt inked a pretty sweet deal with NBC—a $20 million annual salary. The contract was set to expire in mid-2019, but things took a nosedive when allegations of sexual harassment emerged. According to Closer, his legal team argued that he was owed a whopping $30 million after his abrupt firing on November 29, 2017. However, the New York Post's Page Six reported that NBC isn’t budging on this one. They’re not giving him a dime more than what he’s already earned.
The Morality Clause: NBC’s Ace in the Hole
So, what gives NBC the right to cut ties and refuse payment? It’s all about the morality clause in Matt’s contract. Most high-profile contracts include these clauses, allowing companies to terminate an agreement if the employee’s actions tarnish the company’s reputation. And let’s face it, the allegations against Matt brought significant negative attention to NBC. A senior NBC News source told CNN Money, “Matt will not be paid past his last day of work.” They’re standing their ground, and it seems like Matt’s lawyers are up against a pretty solid legal argument.
Read also:Trading Spaces Reboot Get Ready For An Unforgettable Home Makeover Experience
(Photo Credit: Getty Images)
Why NBC Won’t Pay Up
According to insiders, the morality clause in Matt’s contract is the key reason NBC won’t be cutting him a check. A source from Page Six said, “There is no way Matt is getting paid. There has been an irrevocable breach of Matt’s contract, there is a moral clause that says if he brings the company into disrepute—which he clearly has—NBC can terminate his employment immediately without pay and they do not have to pay out his contract.” It’s a tough pill to swallow, but it seems NBC has a strong legal stance here.
