The couple, who split in December 2012 and filed for divorce a month later, had been fighting over their 4-year-old daughter, Bryn, but the matter has now been resolved, Hoppy's attorney says.
"My client is delighted that this custody battle has been resolved; that his co-parenting status has been acknowledged; that the parties' child will have the benefit of being raised by both parents; and most importantly, that his daughter will no longer be at the mercy of a high-profile courtroom battle," attorney Bernard Clair says in a statement to PEOPLE.
When the exes appeared in a New York courtroom on May 28, the former talk-show host, 43, was in tears as she testified that Hoppy allegedly said he would destroy her. Throughout the proceedings, both sides argued over who would be the better parent to their daughter.
Clair said that the specific terms of the settlement are confidential but added that "Jason wishes Bethenny only the best of luck, and he looks forward to sharing with her all of the joyous occasions, milestones and blessings that will be coming up in his daughter's future."
With reporting by LIZ McNEIL