RICHMOND, Va. (AP) – Liberty University said it paid its recently resigned president, Jerry Falwell Jr., the two years’ base salary owed under his employment contract Tuesday.
The Lynchburg, Virginia-based Christian university issued a brief statement about the compensation that did not provide an exact figure but said previous “media reports regarding the size and terms” of Falwell’s severance were incorrect. Falwell stepped down in August from his post at the school founded by his late evangelical father after a series of scandals.
“By his pre-existing contract, Mr. Falwell is entitled to two years’ base salary as severance,” the statement said. “Additional compensation that Mr. Falwell receives under his agreement following his resignation are only accrued retirement benefits. These accrued retirement payments reflect reasonable terms after 30 years of service to Liberty, with 13 as university president.”
Falwell, who declined comment in response to questions from The Associated Press last month about the terms of his employment contract and exit package, has previously discussed the matter with other news organizations that reported he would receive $10.5 million. He could not immediately be reached for comment Tuesday.
Falwell’s “reportable compensation” from Liberty was $1,099,356, according to a 2018 tax form the school provided AP. Other compensation was listed as $59,655.