The agreement comes just weeks after the pair settled their divorce.
According to documents obtained by ET, the Call Me By Your Name actor, 36, and his ex-wife, 40, have agreed on "joint legal custody," meaning that both Hammer and Chambers will have to "cooperate and agree in making any and all decisions relating to the health, education and welfare" of their two kids.
The agreement did not come without a few stipulations. Per the docs, both parties have agreed that it is not in their kids' "best interest to consistently have candy during either parent's respective custodial times" and that they will both refrain from giving their kids candy.
They also agreed to co-parenting counseling and that neither will smoke in the presence of their kids.
The agreement comes just weeks after the former couple settled their divorce after nearly three years.
Per a Declaration of Default obtained by ET last month, Hammer and Chambers "entered into a written agreement regarding their property and their marriage or domestic partnership rights, including support, the original of which is being or has been submitted to the court" and that the pair is asking "the court [to] approve the agreement.”
Hammer and Chambers announced they were going their separate ways after 10 years on social media in July 2020, sharing identical statements that read, "Thirteen years as best friends, soulmates, partners and then parents. It has been an incredible journey, but together, we've decided to turn the page and move on from our marriage. As we enter into this next chapter, our children and relationship as co-parents and dear friends will remain our priority."
Chambers filed to divorce the Social Network star shortly after, with Hammer responding to Chambers' divorce petition around the same time.
In the original divorce docs, Chambers cited irreconcilable differences as the reason for the split and was seeking primary physical custody of their two kids. Hammer, meanwhile, asked for joint legal and physical custody of the kids.
The filing came ahead of the myriad of accusations and claims leveled against Hammer from multiple women about his sexual fantasies. Hammer was also accused of rape and mental, emotional and sexual abuse by a woman named Effie.
Hammer's attorney denied her claims in full, telling ET in a statement at the time, "From day one, Mr. Hammer has maintained that all of his interactions with [Effie] — and every other sexual partner of his for that matter — have been completely consensual, discussed and agreed upon in advance, and mutually participatory.
The Los Angeles County District Attorney's Office completed its nearly two-year investigation of the allegations made against the embattled actor in May, and determined that he would not be facing charges.
Following the DA's decision, a source told ET that Hammer was elated to clear his name and was now working toward making things right with his children and his ex-wife.
"Armie was shocked and didn’t know that this case was going to be dropped today. He is beyond elated to clear his name and especially after spending so much money on legal bills and everything," the source said. "His highest priority right now is making things right with his kids and Elizabeth. His biggest fear is that his kids will see negative articles about him one day, so he’s very set on building up their trust and showing them the dad and man he really is."
While his highest priority is his family, the source also noted that Hammer was hoping to work again and was focused on his career.
The source continued, "Aside from that, he’s focused on his career and hopes and believes that he will work again. He doesn't have anything set in place yet for what he’s going to do or what his big reveal will be, but he's looking forward to picking up the pieces and getting his life back on track."