After two weeks of drama, Prince Harry and Meghan Markle have come to an agreement with the Royal Family. Over the weekend, Queen Elizabeth II announced that the couple would be losing their HRH titles, stepping back from royal duties, including official military appointments. They will also no longer receive public funds for royal duties.

A royal source tells ET of the negotiations, “The discussions were all extremely friendly and constructive because the common goal was clear as was the desire to reach a successful conclusion. Everyone is pleased.”

As for the duke and duchess becoming financially independent, the source adds, “[Harry and Meghan] currently have no commercial agreements already signed or in the pipeline. The spirit of this agreement allows them to pursue financial independence but they’ve made it clear everything they do will continue to uphold the values of Her Majesty.”

The family is currently in the midst of a “transitional time” while some of the “finer details” are being worked out.

“There is scope for the family to review how it operates in a year’s time,” the source says.

On Sunday, Prince Harry spoke out publicly about his exit from the royal family for the first time since the news broke while at a dinner for supporters of Sentebale in London.

“The decision that I have made for my wife and I to step back is not one I made lightly. It was so many months of talks after so many years of challenges,” Harry said. “And I know I haven’t always gotten it right, but as far as this goes, there really was no other option. What I want to make clear is, we’re not walking away, and we certainly aren’t walking away from you.”

For more on the news, watch the clip below:

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