By Sandra Rose  | 

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Update: Will Smith tells Page Six: "I accept and respect the Academy's decision," after the Academy announced he is banned from the Oscar's for the next 10 years.

The disgraced actor can't attend the Oscars in person or virtually and he will not be nominated for an Academy award for the next decade.

The harsh decision was announced on Friday, April 8, after the Academy's Board of Governors met via Zoom to decide his fate for slapping comedian Chris Rock on March 27.

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Smith, 53, walked onstage and slapped Rock, 57, after the comedian joked about the actor's wife, Jada Pinkett Smith's hair loss during the 2022 Oscars ceremony at the Dolby Theater.

The 54-member Board, including Whoopi Goldberg and Steven Spielberg, decided to let Smith keep his Oscar.

The meeting was pushed up to Friday, from April 18, after Smith resigned from the Academy last week.

Participants stated the Zoom meeting was "contentious" until they finally settled on banning the "King Richard" Oscar winner for the next 10 years.

According to a statement, the Academy "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."

The statement continued:

"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."

According to The Sun, Board members were "bitterly divided" over whether to repossess Smith's Best Actor trophy.

However, they ultimately decided it would be hypocritical to snatch his trophy while past winners like Harvey Weinstein still had theirs.