The settlement reportedly leaves the former couple 'happier' as they want to 'settle their divorce amicably for their children's sake.'

AceShowbiz - Former "Today" host Matt Lauer is set to hand a hefty sum to his ex-wife in their divorce settlement. The disgraced TV personality has agreed to pay a whopping $20 million to Annette Roque, according to a new report.

"Matt and Annette have had an incredibly difficult year," a source notes about the former couple who shares three children, Jack (17), Romy (14) and Thijs (11). "They both wanted to settle their divorce amicably for their children's sake but it hasn't been easy."

"They've relied on their attorney's throughout the process and now after a very long year, Matt has agreed to pay Annette about $20 million in the divorce," the source adds. "He finally decided it was time to finalize everything and move forward and focus on the kids. He has a lot of guilt about how things went down and he wants to make sure Annette is taken care of."

"While they had issues and argued over properties and a final settlement, they have decided they can both put the children first and have come up with a plan," the source reveals. "For both Matt and Annette, there is a noticeable difference in their attitude toward this entire process. They seem happier and their family and friends are thrilled to see they are both moving forward."

In related news, Matt is seen trying to sell his Range Rover. The 60-year-old was spotted at Paddle & Party for Pink, driving his Range Rover with a big "For Sale" sign plestered on the back window.

Matt was fired from "Today" following multiple sexual misconduct allegations levelled to him. The scandal unsurprisingly affected his marriage with the former model, with Annette reportedly being angry and embarassed.

"Matt held on to the idea that Annette might eventually forgive him because she had always stuck by him but now he has no hope," another source said at the time. "Annette is angry. She feels Matt's behavior has affected a lot of people and has embarrassed the whole family."

"Annette plans to receive a very good settlement in this divorce. She wants to make sure she and the children will always be well taken care of," the source added.

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