The NCAA made Dez Bryant sit out the entire year after it was determined that he lied to investigators. So yeah, sitting out half of a conference season is light.
As of mid-January, Pearl hadn't even signed the new contract UT drew up for him last October after this incident blew up.
If they were to fire him after sanctions are handed down, and he continues to play intentional stall ball on signing the new contract, he could be entitled to a larger payout because the terms of his former contract would be in play.
Here's a good overview on his contractual situation:
SPORTSbyBROOKS UT Coach: Another Disingenuous Pearl Unearthed
On another note, for those of you claiming not to care about a bowl ban, you seem to be forgetting that players are entitled to transfer out with impunity, depending upon how many years you get, and how much eligibility they have remaining.
If you get one year, seniors get the transfer out. If you get two years, juniors and seniors get the transfer out, which obviously further depletes your roster.
If a bowl ban is given, almost assuredly scholarships will also be taken. You'll then experience the compounding effect of players transferring out, as well as reduced scholarships being available.