SAO PAULO, Sept 16 (Reuters) - Boeing (BA.N), opens new tab will pay Embraer (EMBR3.SA), opens new tab a gross amount of $150 million over its decision to walk away from talks for a commercial aviation tie-up in 2020, the Brazilian planemaker said on Monday.

The deal marks the completion of a lengthy arbitration process that began after the U.S. company aborted a $4.2 billion agreement to buy Embraer’s commercial jet-making operations in the middle of the COVID-19 pandemic.