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April 17, 2018 01:45 PM

Jeremy Renner‘s buzzing career in Hollywood is earning him a big paycheck — meaning his child support payments are changing.

When The Avengers star split from ex-wife Sonni Pacheco due to “irreconcilable differences” in 2015, the duo agreed to share custody of their now 5-year-old daughter Ava, with Renner on the line to pay child support to the tune of pay $13,000 per month as well as 5 percent of the excess if he makes over $2.3 million a year.

According to documents obtained by PEOPLE and first reported by The Blast, Renner’s current $11.4 million income makes him an “extraordinary high-income earner.” As a result, he was to pay $292,000 as additional child support this year –a very large sum.

The former couple have reached a new agreement per the court documents: Renner’s yearly payments for 2018, 2019 and 2020 will not exceed $200,000 — but any amount over that limit will go into an account that will go towards Ava’s education expenses. Any leftover money in the account will be available to Ava when she turns 27.

RELATED: Cutest Date! Jeremy Renner Is #DadGoals While at the Oscars with 3-Year-Old Daughter: “Could Not Be More Proud”

The 47-year-old actor regularly features Ava on his social media pages, including photos of a recent unicorn-themed party for her birthday.

“Happy 5th to my little miss!!!💕💕💕 5 years ago, my life began,” he captioned a black and white photo giving his daughter a kiss on the cheek, with her face hidden by a fairy emoji.

Although Renner admitted that being a single dad “is not fun” in a September cover story for Men’s Journalhe would ideally love to have more children — seven more, to be exact.

“I’d like to have eight [kids] running around. A gaggle, a little clan,” he said, divulging that he has thought of being a dad to another little girl, whom he’d name Hannah.

“But at this point, that’s not in my future,” Renner added of expanding his family.

Renner’s next Avengers movie, Infinity War, opens April 23.

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