NBC/"Today"
During an interview with Matt Lauer, Morgan, who was accompanied by his lawyer, broke down several times.
"I can't believe I'm here and the tragedy that happened," Morgan opened by saying.
A year after a Wal-Mart truck struck Morgan's limousine on his way home from a comedy show, the "30 Rock" actor says, "It's been up and down. I have my good days and my bad days, where I forget things."
"There are times where I get the headaches, and the nose bleeds," added Morgan. "I won't even let my lady know because I don't want her to be worried about it."
NBC/"Today"
Morgan became most emotional when discussing the death of his friend Jimmy Mack.
"The case is settled but the pain is always going to be there for Jimmy Mack, he's a close friend of mine and a comrade in comedy," Morgan told Lauer. "He's a loving man, a warm man, a good man, and it just hurts me to know that he's gone."
Morgan says he doesn't remember the accident, but afterwards would watch video footage of the wreck online.
"Every day I would watch the accident on YouTube and one day I came across his [Jimmy Mack] funeral on YouTube and that, I just, I lost it for about a week."
NBC/"Today Show"
"Bones heal but the loss of my friend will never heal," added Morgan. "But I'm happy Wal-Mart stepped up to the plate in a tremendous way. They took full responsibility and I'm really happy that they looked after Jimmy Mack's family because I know my friend can rest in peace now."
In March, James McNair's children settled with Wal-Mart for $10 million.
NBC/"Today"
As for what's next, Morgan says, "I love comedy and I can't wait to get back to her but right now my goal is just to heal and get better because I'm not 100% yet, and when I'm there, you will know. I'll get back to making you laugh, I promise."
Watch Tracy Morgan's interview with Matt Lauer below:
The terms of the proposed settlement were not disclosed.
On June 7, 2014, a Wal-Mart truck driver crashed into a limousine, killing McNair and injuring four others, including Morgan.
Morgan, a former "Saturday Night Live" and "30 Rock" star, suffered broken bones and what his lawyer, Benedict Morelli, said was a traumatic brain injury.
"Walmart did right by me and my family, and for my associates and their families. I am grateful that the case was resolved amicably," Morgan said in a written statement.
"Our thoughts continue to go out to everyone that was involved in the accident," Wal-Mart US Chief Executive Greg Foran said in a statement at the time. "While we know there is nothing that can change what happened, Walmart has been committed to doing what's right to help ensure the well-being of all of those who were impacted by the accident."
In March, Morelli told the AP that Morgan is not fully recovered but is "working very hard to get better, physically, emotionally and mentally."