Mariah Carey and Nick Cannon have reached a settlement in their divorce. It’s been a long time coming, and I’m sure both parties are happy to put this all behind them!

Per the agreement, Nick is required to put away $5k a month in a trust for the twins, while Mariah doesn’t have to put anything away. (It’s to be noted that she has primary custody of them, so she’s paying for more expenses than Nick.) Neither Mariah nor Nick can allow the kids to address a new significant other as mom, dad, mommy, daddy, father, mother or any facsimile thereof. When Nick comes to visit the kids, Mariah has to pay for travel and lodging and finally, Nick gets the 2012 Ferrari.

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No details were released as to whether Nick will get spousal support, but the pair did list their 2014 income if you’re interested! Mariah says she made $6.3 million in 2014, and Nick scored $2.7 mil.

Source: TMZ