Heuermann has been charged with the murders of seven women.
people.com
The settlement was reached on Thursday, March 27 but it still needs to be finalized by a Suffolk County judge,
ABC News reported.
"This has been in the works for the last couple years," Ellerup's attorney Bob Macedonio tells PEOPLE. "She needs to move on with her life for her and her children. She realizes that."
Macedonio says Ellerup is "withholding any judgment on the guilt or innocence of Rex until the conclusion of the trial. She still maintains the position that the man that she was married to for 29 years was not capable of committing these horrific crimes."