The consequences have finally dropped!

On Friday, the Academy of Motion Picture Arts and Sciences made a ruling on what will happen to Will Smith after his on-air assault of Chris Rock, following a joke made about the actor’s wife Jada Pinkett Smith.

Related: Will Smith’s Biggest Fear Amid Oscars Fallout Revealed

And the verdict is… the 53-year-old actor is banned for a decade from the event!

Academy President David Rubin and CEO Dawn Hudson shared in a statement to the press:

“The 94th Oscars were meant to be a celebration of the many individuals in our community who did incredible work this past year; however, those moments were overshadowed by the unacceptable and harmful behavior we saw Mr. Smith exhibit on stage.

During our telecast, we did not adequately address the situation in the room. For this, we are sorry. This was an opportunity for us to set an example for our guests, viewers and our Academy family around the world, and we fell short — unprepared for the unprecedented.

Today, the Board of Governors convened a meeting to discuss how best to respond to Will Smith’s actions at the Oscars, in addition to accepting his resignation. The Board has decided, for a period of 10 years from April 8, 2022, Mr. Smith shall not be permitted to attend any Academy events or programs, in person or virtually, including but not limited to the Academy Awards.

We want to express our deep gratitude to Mr. Rock for maintaining his composure under extraordinary circumstances. We also want to thank our hosts, nominees, presenters and winners for their poise and grace during our telecast.

This action we are taking today in response to Will Smith’s behavior is a step toward a larger goal of protecting the safety of our performers and guests, and restoring trust in the Academy. We also hope this can begin a time of healing and restoration for all involved and impacted.”

Now if we could only get this energy for the various sexual predators that have attended and won awards! No consequences for them at all. But that’s for another day.

For what it’s worth, Will also shared a short statement through a rep following the news, saying humbly:

“I accept and respect the Academy’s decision.”

Smith will be allowed back at the event in 2033, and it remains unclear if he’s eligible to be nominated at this time.

Thoughts, Perezcious readers?! Does the punishment fit the crime? SOUND OFF in the comments!

[Image via ABC/CBS/YouTube]

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