The family of a man shot and killed by police during a traffic stop in July has reached a settlement of $4.85 million with the University of Cincinnati.

In addition to the money, the family of Samuel DuBose will receive approximately $500,000 in educational scholarships or free undergraduate education for DuBose’s 12 children, a memorial to DuBose will be created on campus, and the family will be included in future discussions with the Community Advisory Committee about police reform.

[RELATED: Cincinnati Officer Indicted for Murder After Body Camera Reveals False Report]

Ray Tensing, 25, was indicted for murder in the shooting death of DuBose, 43, on July 29, 2015. The shooting occurred during a traffic stop on July 19, 2015, in which Tensing pulled DuBose over for driving without a front license plate on his car.

Tensing told his fellow officers that he fired his gun because he feared for his life after his hand got caught on DuBose’s car, and he thought DuBose would run him over.

However, Hamilton County Prosecutor Joe Deters confirmed that the footage from Tensing’s body cam appeared to directly contradict his story by showing that the car did not did not start rolling until after Tensing pulled out his gun, shot DuBose in the head, and then fell backwards.

Deters called the shooting “totally unwarranted” and said it was the “most asinine act” he had ever seen from a police officer.

[RELATED: Officers Involved In Samuel DuBose Coverup Will Not Face Charges]

The same grand jury that indicted Tensing for DuBose’s murder announced on Aug. 1 that the other two University of Cincinnati officers who arrived on the scene would not face charges.

Officers Phillip Kidd and David Lindenschmidt, who were initially placed on paid administrative leave while the university investigated, claimed they witnessed Tensing being dragged by DuBose’s car and corroborated his false account of the shooting.

In a statement from UC President Santa Ono, he said the agreement was made as part of the healing process for the family, as well as the community of Cincinnati.

“I want to again express on behalf of the University of Cincinnati community our deepest sadness and regrets at the heartbreaking loss of the life of Samuel DuBose,” Ono said. “This agreement is also part of the healing process not only for the family but also for our university and Cincinnati communities.”