The Neptunes' Pharrell Williams and Reebok have mutually agreed to part ways after a legal dispute.

The Neptunes' Pharrell Williams and Reebok have mutually agreed to part ways after a legal dispute. Last month, Williams filed a $4 million breach-of-contract lawsuit against the company, alleging it failed to meet distribution and quality standards for his Billionaire Boys Club apparel line and Ice Cream footwear collection.

Williams and Reebok had entered into the licensing-and-distribution partnership in 2003, and the Billionaire Boys Club and Ice Cream collections launched last year.

According to his spokesperson, Williams has dropped the lawsuit against Reebok as part of the agreement. Reebok will continue selling Ice Cream shoes until June 30. Williams says he will soon be announcing future plans for the Billionaire Boys Club and Ice Cream lines.

"Reebok and I both understand we have very different visions for my clothing line, BBC and my sneaker line, Ice Cream," Williams said in a statement. "I have learned a great deal doing business with Reebok, and it has been a great experience. I am pleased that we can part ways amicably and am excited to launch my line independently."

According to Reebok chief marketing officer Dennis Baldwin, the company's design and distribution strategy was at odds with Williams'. "Although we would have liked for this venture to have been more successful, in the end, we both realize that the design and distribution fit just wasn't there," he said.

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