Mel Gibson to Pay Ex-Girlfriend Oksana Grigorieva $750K in Custody Settlement

The actor and his ex hammer out the details of a settlement that gives them equal custody of their daughter Lucia

It's all water under the bridge for Mel Gibson and ex-girlfriend Oksana Grigorieva. After a bitter year-long battle over the custody of their 22-month old daughter Lucia (among other things), the estranged couple finally reached a peace settlement on Aug. 26 -- and now the terms of that truce have been ratified.

In Los Angeles Superior Court on Wednesdy, Gibson, 55, and Grigorieva, 41, agreed to split custody of their daughter 50-50. In addition, Gibson will pay Grigorieva $750,000 over the course of five years, and also allow his ex to continue to live in an L.A. home that he owns. Gibson will sell the house when Lucia turns 18 and put the proceeds in a trust fund for her.

One big stipulation of the agreement is that neither party is allowed to publicly discuss each other or their relationship, and they are forbidden from writing books about each other. (So don't look for Mad Mel: The Fury of My Baby Daddy, by Oksana Grigorieva, on bookshelves anytime soon.)

Both parties seem fairly pleased with the outcome. "Thanks, your honor, for bringing this case to a reasonable conclusion," Gibson said in court on Wednesday.

Grigorieva's lawyer, Daniel Horowitz, said that his client was also content with the agreement. "Oksana settled this case today because it's in the best interests of Lucia," he told reporters, adding that Grigorieva is looking forward to focusing on her daughter and her music career. Just don't expect her to write any songs about Mel.

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