Les Moonves, the once-powerful head of CBS, will not receive any severance payment in the wake of sexual misconduct allegations, the CBS Board of Directors announced Monday.

The network made the announcement after the completion of a company investigation that found Moonves was guilty of “willful and material malfeasance” and a failure to comply with the investigation. He was set to receive as much as $120 million as part of his severance package, depending on the results of the inquiry.

Moonves resigned in September after several women accused him of sexual misconduct in a pair of scathing exposes in the New Yorker.

A lawyer for Moonves called the CBS Board conclusions “without merit.”

“The press was informed of these baseless conclusions before Mr. Moonves, further damaging his name, reputation, career and legacy,” Moonves attorney Andrew Levander said in a statement. “Mr. Moonves vehemently denies any nonconsensual sexual relations and cooperated extensively and fully with investigators.”

Severance packages, which often result from the terms of an employee’s contract, have become flash points in high-profile workplace harassment and assault cases. Fox News abruptly terminated Bill O’Reilly’s contract in 2017 after he was accused of harassing female employees, and the former host walked away with $25 million. Roger Ailes received a $40 million severance package after he stepped down as head of Fox News in 2016 after his own scandal.

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