A visiting judge in Stark County Probate Court approved the legal agreement this week.
Mark and Krystin Dailey, whose son was the school wrestler named in the lawsuit, filed the complaint in December 2019 in Stark County Common Pleas Court.
Probate court was involved because a minor is among the three plaintiffs in the case.
The $125,000 will be paid by the defendants as compensation and for the pain and suffering of the boy and his family, as well as for attorney fees, court records said.
Funds will be divided three ways, with $41,647 awarded to the parents; $41,647 for the boy and not accessible until age 18; and $41,662 designated for attorney fees.