The dust has settled, Stephen Colbert is replacing David Letterman, and CBS Late Late Show host Craig Ferguson is staying exactly where he is. Although he'll probably be at least $5 million richer.

The True Scotsman of late night won't be taking over Letterman's seat next year, likely to his dismay. But don't feel too bad. Apparently anticipating this situation, Ferguson's people reportedly put a clause in his contract stipulating that if some shady non-Ferguson character takes over the Late Show, Ferguson would get a consolation payout from CBS. The figures vary: the New York Post is reporting the payout as $5 million, while the New York Daily News puts it closer to $8 million or even $12 million.

Ferguson's contract, which expires in June, actually isn't all that unusual. In the past, NBC has reportedly paid both Conan O'Brien and Letterman not to take over the Tonight Show. And while Ferguson may always be the bridesmaid, at least he gets a sweet bonus for it.

[image via Getty]