What does the below wording on divorce decree mean?

Unless there is other language limiting or qualifying that statement (for instance, "as long as he remains current in his child support obligation", or words to that effect) it means that you are allowed to claim the state and federal income tax exemptions for your minor child, but that your former spouse is entitled to half of any state and federal tax refunds resulting from your separate tax filing.  That's probably not what you intended, and doesn't sound fiar, but that's what it says.