According to the terms of their divorce settlement, Osbourne will pay a sizeable amount in child support and they will share joint custody of their kids while they make an effort to co-parent, TMZ reports.
Court documents obtained by ET back in May show that Stelly cited irreconcilable differences as the grounds for divorce in her initial filing.
After news of the divorce broke, Osbourne shared a statement to Instagram addressing their split, writing, "So the news about us separating has probably come as a bit of a shock to everyone. But we just want to clear the air and share with you what's going on."
"First and foremost, we absolutely still love each other," the statement continued. "Our family is the most important thing in our lives, and we tried everything we could for many years to make this work. What's best for our family right now is that we separate lovingly, and remain best friends who are committed to raising our children together."