Jerry Falwell Jr. to Receive $10.5 Million as Part of Severance Package

By Christina Darnell - Posted at Ministry Watch:

Jerry Falwell Jr. will get $10.5 million as part of his severance package after resigning as president from Liberty University following allegations of a sex scandal.

Falwell, 58, told the Washington Post that he will receive $2.5 million over the next two years and $8 million in retirement, in accordance with a contract he signed in July 2019. He says he’s still entitled to it since he has not been formally accused nor did he confess to wrongdoing.

“The board was gracious not to challenge that,” Falwell told the Post of his decision to step down in good standing. “There wasn’t any cause. I haven’t done anything.”

The Liberty University board announced Tuesday morning (Aug. 25) that they had formally accepted Falwell’s resignation following accusations of a years-long extramarital affair involving the couple and a former business partner, 29-year-old Giancarlo Granda.

He was already on indefinite leave after posting photos on Instagram of himself and his wife’s assistant with their shirts hiked up and pants unzipped.

Read more here.