The Gibsons formally agreed to an appeal window of two years in exchange for $4 million in interest.
I am not certain what they would gain from it. Is it worth it to the family to drag out the litigation process 2 more years for 4 million? The stress and continued attacks with the possibility of losing. I wouldn't do it.
Maybe their lawyers told them that they didn't have much of a choice. Or maybe they are trying to play fair. Maybe the family is hoping for a favorable relationship with Oberlin in the future and so that they can reestablish the business relationship with the college.