Falwell Owed $10.5 Million by Liberty University

“Liberty University owes Jerry Falwell Jr. a total of about $10.5 million over the next two years after he resigned as president of the nation’s largest evangelical college following several scandals, according to a person close to Mr. Falwell with knowledge of his employment contract,” the Wall Street Journal reports.

“Mr. Falwell is due his $1.25 million salary for two years, followed by a lump-sum payment of about $8 million, because of a clause in his contract that allowed him to resign with full pay if his responsibilities were curtailed, which they were when he was put on an indefinite leave of absence two weeks ago.”