Ola Ray, the girl who played Michael Jackson's date in the"Thriller" music video (below), has settled her lawsuit over payment for her role.

Three years after filing suit, and 29 years after starring in it.

Ray sued MJ and his production company in May 2009, the month before Jackson died, claiming she was owed royalties from the 1983 smash.

She sued Jackson for breach of contract, insisting that she was still owed a massive share of "Thriller" profits.
The director of the music video John Landis -- who filed a similar lawsuit against the estate -- has also settled ... but he wanted in excess of $2 million, so we're guessing he got a little more than Ola.

$55,000 to Ola ... and $20,000 to her lawyer...Cashout
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