Mel Gibson to Pay Oksana Only $750,000 in Divorce Settlement

CLICK PICTURE TO ENLARGE

Mel Gibson has agreed to pay $750,000 to his baby mama Oksana Grigorieva as part of their custody settlement.

According to the terms of the agreement, revealed in court today, Mel will give Oksana the money in 3 installments of $250,000 -- the first payment will be made when the deal is signed today.

The next payment will be made on Sept. 15, 2013 -- and the final payment will be made on Jan. 1, 2016.

Today in court, the judge in the custody case said the couple will have joint legal and physical custody of their daughter Lucia.

The judge also said the house that Oksana and Lucia are living in will be sold when Lucia turns 18 and the money will be placed in a trust for Lucia.

This settlement is a huge blow to Oksana who was expecting to receive millions from Mr. Gibson.