Matt Lauer Reportedly Seeking $30 Million To Complete NBC Contract
MATT LAUER REQUESTING $30 MILLION BUYOUT
The Today show co-anchor was terminated with a year and a half left on his $20-million-per-year contract, causing his lawyers to request the remaining $30 million. Previously paid $25 million each year, Lauer had his contract renegotiated in 2016 and his salary was lowered to by $5 million each year and extended through the end of 2018.
The issue now is that there may be a moral clause in his contract that would allow the company to terminate without monetary repercussion. “[Lauer’s team] are currently looking at his contract and determining whether the claims against him, which clearly would affect any moral clause in his contract and his ensuing termination, would cut off his contractual rights to be paid through to the end of his contract,” a source told PageSix.
Generally, a moral clause is attached to TV contracts to specify that talent can be fired without pay if he brings the company any disrepute. According to another insider, “there is no way Matt is getting paid. There has been an irrevocable breach of Matt’s contract, there is a moral clause that says if he brings the company into disrepute — which he clearly has — NBC can terminate his employment immediately without pay and they do not have to pay out his contract.”
Lauer was seen leaving his $33 million Hamptons estate on Thursday to meet with his lawyer, Eddie Burke Jr. One of Burke’s former clients was NBA star Jason Kidd, whom he defended against a drunk driving charge.