Halle Berry’s divorce settlement from Oliver Martinez has been finalized after almost eight years.

The pair, who are co-parents to son Maceo, 9, settled their divorce and custody agreement, according to documents obtained by PEOPLE.

Part of the ruling indicted that the two will share joint legal custody, with Berry agreeing to pay Martinez $8,000 a month in child support. She will also pay him “4.3% of any income she receives above $2,000,000” in additional support.

Berry will also shoulder the costs of her son’s private school tuition, uniforms and school supplies, as well as any extracurricular activities. She’s agreed to pay Martinez back for any of these costs from the 2023/2024 school year.

The Oscar winner and the actor initially filed for divorce in October 2015 after two years of marriage.

At the time, the pair released a statement to PEOPLE regarding their decision.

“It is with a heavy heart that we have come to the decision to divorce,” they said in a joint statement to PEOPLE. “We move forward with love and respect for one another and the shared focus of what is best for our son. We wish each other nothing but happiness in life and we hope that you respect our and, most importantly, our children’s privacy as we go through this difficult period.”