David Hasselhoff reaches divorce settlement

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David Hasselhoff has agreed to pay $25,000 a month to support his ex-wife and children.

Court documents released Thursday show the former "Baywatch" star's divorce settlement calls for him to pay $21,000 a month to ex-wife Pamela Bach and another $4,000 to support their daughters, 17-year-old Taylor and 15-year-old Hayley.

Hasselhoff and Bach have joint custody of the children.

The couple also agreed to joint ownership of their San Fernando valley home and will divide the family's cars, bank accounts and Hasselhoff's pensions from acting and directing guilds.

Bach and Hasselhoff divorced in 2006 after more than 16 years of marriage.
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