Actor and singer David Hasselhoff has come to a deal with his former wife Pamela Bach.
The couple, along with their respective legal representatives, met earlier this month to hammer out a settlement.
Financial terms of the agreement - including spousal and child support - have not yet been disclosed, although it is understood that the pair will sell their California home.
After over 16 years of marriage and with two children, Hasselhoff and Bach divorced in August 2006 and have since been embroiled in a legal dispute.
Commenting on the outcome of the court proceedings, the ex-Baywatch star said: "I'm pleased that everything has been resolved and I'm proud of my kids, who remain strong and have exhibited dignity during this very difficult time."
Whereas prior to the deal Hasselhoff had full custody of their teenage daughters - 17-year-old Taylor and 15-year-old Hayley - Bach will now share custody.