8:00 AM PT -- A source close to Johnny Depp tells us he'll be making a pledge followed by a contribution to several charities using the $1M. Contrary to what Amber Heard says, our source tells us the judgment can still be used against her in the future if she repeats the defamatory allegations.
Depp's attorneys, Camille Vasquez and Benjamin Chew, tell us, "We are pleased to formally close the door on this painful chapter for Mr. Depp, who made clear throughout this process his intent to bring the truth to light."
They continue, "This was never about the money. The jury's unanimous decision and the judgment in his favor against Ms. Heard remain fully in place, and the payment of $1M -- which Mr. Depp is pledging and will donate to charities -- reinforces Ms. Heard's acknowledgment of the conclusion of the legal system's rigorous pursuit for justice."
Amber Heard is closing the book on the defamation case brought by her ex-husband, Johnny Depp -- a decision that's going to cost her 7 figures.
The actress just issued a lengthy statement announcing that she's settled with Johnny -- this as opposed to going through with her appeal -- which she just recently filed. Amber says, in part ... "This is not an act of concession. There are no restrictions or gags with respect to my voice moving forward."
Sources with direct knowledge tell TMZ ... Amber is going to shell out just $1 million to Johnny -- but we're told it'll be money from her insurance company, not her own pocket.
As for what she has to say about it further ... Amber explains she never chose this, and that all she ever did was defend and speak her truth -- which she notes has destroyed her life ... via vilification through social media and beyond, which she calls a humiliation she can't relive again. AH says she did this to move forward and emancipate herself from this saga.
Amber also makes sure to mention the fact that she has lost faith in the American legal system -- having been found liable for defaming Johnny, whereas in the UK ... the verdict came in her favor. She says she has exhausted almost all of her resources in fighting this thing here -- and in the end, it seems she's decided it was going to be a losing battle.
One other thing ... Amber says she's going to now focus on things that matter to her life, including working for causes she believes in, not to mention time with her daughter.
She adds, "I will not be threatened, disheartened or dissuaded by what happened from speaking the truth. No one can and no one will take that from me. My voice forever remains the most valuable asset I have." Amber ends by thanking those who've backed her all along.