Under the agreement approved by Montgomery County state District Judge Kelly Case and announced during a scheduled court hearing, Peterson pleaded no contest to a misdemeanor charge of reckless assault.
Case deferred a finding of guilt for two years while imposing a $4,000 fine and 80 hours of community service on Peterson.
According to highly credible NFL insider, Adam Schefter, Peterson will appeal the league's decision.
The eight season veteran has only played in one game this season. Prior to this latest suspension Peterson had been placed on NFL Commissioner Roger Goodell's exempt list.
"The timing of your potential reinstatement will be based on the results of the counseling and treatment program set forth in this decision. Under this two-step approach, the precise length of the suspension will depend on your actions. We are prepared to put in place a program that can help you to succeed, but no program can succeed without your genuine and continuing engagement. You must commit yourself to your counseling and rehabilitative effort, properly care for your children, and have no further violations of law or league policy."
Goodell added that AP has "shown no meaningful remorse" for his conduct.