The city of Cleveland has agreed to pay Tamir Rice's family $6 million to settle a federal lawsuit filed over the boy's November 2014 shooting death by city police, reports Cleveland.com . The 12-year-old was playing with a realistic-looking pellet gun when he was shot.

The settlement, announced Monday, does not resolve all of the lingering legal issues surrounding the 12-year-old's death. However, it is a sign that both the city and the boy's family did not want to endure what could be a tension-filled and expensive litigation process that could last years.

The settlement was revealed via a court filing from U.S. District Judge Dan Polster, who presided over settlement talks.

Tamir Rice's estate will receive $5.5 million, Samaria Rice, the boy's mother, and his sister Tajai Rice will each receive $250,000. The settlement does not mean the city or the two officers or dispatchers involved are admitting to any wrongdoing. The city will pay $3 million this year and $3 million in 2017.

The settlement must be approved by a Cuyahoga County Probate Court judge before it is final.