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

Calgary Herald - - WORLD -

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.

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