Jerry Falwell Jr. to receive $10.5 million in compensation for resigning from Liberty University
Jerry Falwell, Jr., the former president of Liberty University, will receive a $10.5 million compensation package from the evangelical school, he told CNN.
Falwell, who resigned late Monday after a series of scandals, said he will receive about $2.5 million during the next two years and another $8 million thereafter. As the university's president and chancellor, Falwell was paid about $1.25 million per year.
Falwell, 58, told The Washington Post his Liberty contract entitles him to the severance package because he is departing the school without being formally accused of or admitting to wrongdoing....