EX-CBS CEO TO GET $120M PENDING PROBE OUTCOME

CBS will pay ousted chief Les Moonves $120 million if its ongoing investigation fails to find any evidence of sexual misconduct.

Moonves, the television company’s longtime CEO, resigned on Sunday, just hours after fresh allegations came out in a New Yorker article. A dozen women have alleged mistreatment, including forced oral sex, groping and retaliation if they resisted him. CBS has hired two law firms to investigate the claims.

In a regulatory filing Monday, CBS says the company will put $120 million in a trust that will go back to the company if the charges are substantiated and the CBS board decides it has cause for termination. Moonves will receive the $120 million as severance if the investigation doesn’t substantiate the allegations.