New York, Feb 16 : Sir Paul McCartney is set to pay over 108 million dollars to Heather Mills as part of their divorce deal.
According to the Daily Mail, the former model will receive 40 million dollars as part of the divorce settlement.
Mills will further get 5 million dollars of annual payments until their 4-year-old daughter Beatrice turns 18. The deal was sealed with Mills agreeing to never speak publicly or write in about the breakdown of her marriage with the former Beatle.
Mills has been given the custody of Beatrice, but Macca will have equal visitation rights.
Sir Paul has also agreed to set up a 2 million-dollar trust fund that his daughter can access when she turns 18.
A source revealed that a verbal agreement has been reached.
"They have a settlement. They have agreed on all points. Nothing much has changed this week. There was a deal at the beginning, but it was a complex one," the New York Daily News quoted a source, as telling the British newspaper.
"There have been a few tweaks to the agreements, but those have been mostly changes Heather wanted made," the source added.
A hearing, possibly the final one, is scheduled for Feb 18.