Tom Cruise will pay "more than $10 million" in child support to Katie Holmes.
The former couple - who announced they were to divorce after five years of marriage last month - have reached an undisclosed agreement to end their marriage, but insiders insist reports the actress is to receive a $50 million lump sum are "ridiculous."
However, the sources tell TMZ.com that Tom, 50, is paying "a lot of money" in child support for their six-year-old daughter Suri, with payments for the next 12 years amounting to "more than $10 million."
Katie, 33, has sole custody of Suri, but the Rock of Ages actor will have substantial visitation rights.
Speaking about their split, Scientologist Tom and Katie - who registered at a Catholic church in New York this week - released a statement saying, "We are committed to working together as parents to accomplish what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."
Katie Holmes signed a confidentiality agreement as part of her divorce settlement with Tom Cruise.
The former couple - who split last month after five years of marriage - agreed conditions to end their union on Monday, with the terms said to include the actress agreeing not to speak about her estranged spouse's personal life or his religion, Scientology.
"Confidentiality was the key. If Katie hadn't signed up to remain silent it could have become a very messy legal battle," a source said.
Representatives with both stars have insisted the details of their settlement will be kept under wraps, though it is believed Katie will get primary custody of their six-year-old daughter Suri, with Tom allowed visitation rights. The welfare of the little girl was key to the pair resolving their split amicably and privately following initial speculation there would be a public court battle.
Katie Holmes will reportedly get primary custody of her and Tom Cruise's daughter Suri.
The 33-year-old actress and the 50-year-old star - who split late last month after five years of marriage - agreed a divorcement settlement earlier today, and insiders believe the brunette beauty will continue to live with their six-year-old daughter in New York City.
Katie is also thought to have insisted that Suri is accompanied by the actress' own team of bodyguards when she visits Tom to ensure she isn't indoctrinated into sci-fi cult Scientology. "Katie insisted that Suri's nanny and bodyguards always accompany her when she visits Tom. Katie did this for several reasons. This will ensure a smooth and easy transition for Suri when she is with Tom. Suri is Katie's number one priority. Tom only has Scientologists that work for him and Katie insisted that her staff will always be with their daughter. Under terms of the settlement, Suri isn't permitted to be exposed to anything Scientology related and this includes going to any Scientology churches, parties, etc. Katie made sure that this was ironclad in the agreement," a source said.
Tom Cruise wants to meet Katie Holmes in an attempt to save his marriage.
The Rock of Ages star is set to face his spouse in court next week for the beginning of their divorce proceedings next week, but he wants to talk things over with Katie in a bid to stop the details of their relationship being made public.
"Tom either doesn't get it or doesn't believe that his marriage is ending. He feels there is still time for Katie and him to sit down and sort out a compromise. He knows that they are days away from a huge public court clash and stopping that or at least making it as amicable as possible are his goals. He feels he can still communicate with Katie and wants to sit down with her one on one. The lawyers are working away, but Tom reckons he is the best one to communicate with his wife. He reckons he can delay the hearing or come to an interim agreement," one source said.
Tom Cruise and Katie Holmes have begun discussing their divorce settlement.
Katie filed for divorce from Tom after five years of marriage late last month, and lawyers for both of them are now in talks to settle issues including child custody, visitation and child support for their six-year-old daughter Suri and property division.
According to TMZ.com, there are no immediate plans to go to court unless the negotiations fall apart. Should things go well, the settlement could be completed in New York, the city where Katie filed for divorce.
Katie is seeking sole legal and residential custody of Suri, and it is believed that she would more likely gain it in New York than in California, where Tom was thought to be filing his own papers.
Katie Holmes showed signs she was distancing herself from Tom Cruise in a new magazine interview.
The actress spoke to a women's publication just weeks before she announced she was to divorce the Oblivion actor. During the questioning, she hinted that she wanted to focus on her separate image as opposed to being Tom's wife and the mother of his child Suri Cruise. "He has been Tom Cruise for 30 years. I know who I am and where I am and where I want to go, so I want to focus on that," she said.
When asked whether she thought being married to Tom helped or hurt her when it came to getting new jobs she admitted that she realized she would have to put extra effort into establishing her own brand. "Things are not handed to anyone. If anything, you work a little bit harder when you're in such visible circumstances," she added.
Katie also stated that she has no problem being independent and thinks that her age is the reason behind it: "I definitely feel much more comfortable in my own skin. I feel sexier. I think in my twenties - it's like you're trying too hard to figure everything out...I'm starting to come into my own. It's like a new phase."
Katie Holmes has filed for an emergency custody and child support hearing in New York.
The 33-year-old actress' - who began divorce proceedings against estranged husband Tom Cruise last week - requested an "emergent application" in New York City court yesterday to determine immediate custody and child support issues over the couple's six-year-old daughter, Suri. The filing means Tom - who is being represented by Dennis Wasser, one of Los Angeles' top divorce lawyers - will have to hire his own New York-based attorney and the couple will have to appear before Judge Matthew Cooper on July 17 in an open court.
"Katie filed an 'emergent application' in New York City on July 3. It's a motion seeking temporary emergency relief, which can include child support and custody. It also means that Tom is going to have to hire a New York lawyer - he can't use his California lawyer anymore. The motion also means that both Tom and Katie have to be present in court on July 17. A judge is now assigned to their case, which means it's no longer going to be an out-of-court settlement. They are scheduled to appear before Judge Matthew Cooper on July 17 at 9:30am," a source said.
Katie Holmes filed for divorce in order to save her daughter from undergoing Scientology auditing.
The 33-year-old actress ended her marriage to Tom Cruise - who is a high-profile member of the quasi-religious cult - last week and sources close to the star have revealed she was worried their six-year-old daughter would be subjected to a process known as "sec checking," according to TMZ.com.
During these tests, the subject holds electrode handles on a device called an electropsychometer or E-Meter and is then asked a series of personal questions that help the church locate "areas of spiritual distress," but according to ex-members it is designed to help kids spy on their parents. While the person is being asked the questions, a church auditor collects E-meter readings from the device, which has been compared to a polygraph machine.
Katie Holmes claims her marriage to Tom Cruise was "irretrievably" broken for at least six months.
The former Dawson's Creek actress filed for divorce from her husband of five years last week in New York and, according to official documents, she said their union had been over for some time. However, sources close to Tom says Katie's version of events are baffling, telling gossip website TMZ.com he had "no idea" she was going to legally end their marriage.
Katie - who wants sole custody of the couple's six-year-old daughter, Suri - also claimed both she and Tom have been residents of New York for "at least two years," even though their main family home is in Beverly Hills, California. The 33-year-old beauty must establish legal residency in New York in order for the court to have jurisdiction, which is something she wants because New York courts are more likely to grant her sole custody of Suri.
Tom Cruise is "deeply saddened" to be splitting from Katie Holmes.
The 49-year-old actor- has confirmed he is upset about the demise of his five year marriage but is focusing on his children Connor, 17 and Isabella, 19 from his relationship with Nicole Kidman and his six-year-old daughter Suri.
"Kate has filed for divorce and Tom is deeply saddened and is concentrating on his three children. Please allow them their privacy," his representative said in a statement.
Meanwhile, insiders close to the situation claim former Dawson's Creek star Katie wanted to split from Tom - who has been married twice before - because she wants to "amp up her career."
"Katie just wants to live out of the spotlight of Tom. She wants to focus on her acting career, which has taken a backseat since her marriage. She is currently filming a movie and has another project lined up and she wants to amp up her career another notch, which she has struggled to do the past few years," a source said.
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