The family of the co-pilot who died in the South Carolina plane crash that DJ AM and Travis Barker survived just struck a settlement.

James Bland's widow and 17-year-old daughter will get nearly $500,000 from the companies that operated and owned the aircraft -- Global Exec. Aviation, Inter Travel & Services Inc., and Pem Group, Inc.

According to docs obtained by TMZ, Bland's widow will get $406,250 and the daughter will receive $25,000 per year for three years.