Smith won't be allowed to attend any Oscar ceremonies for the next 10 years, through April 8, 2032, for slapping Chris Rock at last week's 94th Academy Awards -- but he'll still be eligible for future Oscar nominations, the Academy's board of governors ruled this morning at a special meeting. The ban extends to all Academy functions. "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," Academy of Motion Pictures Arts and Sciences president David Rubin and CEO Dawn Hudson wrote in a letter to Academy members. They also apologized for not responding to the incident immediately during the telecast. "During our telecast, we did not adequately address the situation in the room," the wrote. "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." As Deadline's Anthony D'Alessandro and Dominic Patten, the Academy's decision was hamstrung by Smith's resignation from the Academy a week ago today. The resignation resulted in the Academy's board of governors expediting its decision. "With whispers in the preceding days that the organization’s more than 50-person strong Board of Governors were strongly considering a decade long expulsion as part of their self described 'disciplinary proceedings,' the actor’s April Fool’s Day decision effectively neutered the organization," they explain. "While disinvites to future Academy Awards, a fine or even a lawsuit for staining the Oscar brand were discussed to varying degrees in recent days, there was never ever a possibility that Smith would have his Best Actor Oscar taken away from him — as Roman Polanski can tell you. Now not giving the Best Actress award at the 95th Academy Awards, as is traditional for the previous Best Actor winner, there is nothing in today’s AMPAS decision that prevents the busy Smith from being nominated in future years. Such a move on the part of the Board of Governors would have been unprecedented for AMPAS, and likely could blow up in their face." UPDATE: Will Smith said in a statement "I accept and respect the Academy’s decision."