Katie Holmes gets sole custody of her six-year-old daughter, reports say. But Tom Cruise is expected to enjoy a "significant custodial time" with their daughter, according to a TMZ report indicating that the ex-couple has concluded their out-of-court divorce settlement.

In an interview with TMZ, Holmes' lawyer Jonathan Wolfe said: "This case has been settled and the agreement has been signed."

"We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life," the lawyer noted, hinting to fans that the divorce is skipping an ugly display of dirty laundry. Instead, everything seems to have been processed quietly and quickly.

Settlement: Katie's Rumoured Terms

Daily Mail reports Katie Holmes has won sole custody of her only child with Tom Cruise, Suri. She reportedly made it clear that Suri will not be involved with Scientology.

Speaking to Radar, an insider source said Katie also wanted her staff to accompany Suri even on trips with her father.

"Katie insisted that Suri's nanny and bodyguards always accompany her when she visits Tom... This will ensure a smooth and easy transition for Suri when she is with Tom."

Radar's source hinted that Tom Cruise's staff is comprised of Scientologists, and Katie insisted on arrangements that would lessen Suri's interaction with Scientology believers (except with her father).

However, a TMZ updated report claimed the clause on bodyguards and nannies accompanying Suri is not part of the settlement. It is "absolutely, 100% false."

Suri shall hear limited religion talks from mum and dad -- until certain age?

TMZ further claimed the clauses detailed in the out-of-court settlement between Tom Cruise and Katie Holmes include scenarios in Suri's life in the years to come.

Religion is also detailed in the settlement, such that mum and dad have limitations on what each of them can discuss to Suri with regards to Scientology (dad's religion), Roman Catholic (mum's religion) and other expressions of spirituality and faith.

Daily Mail cited a Hollywood source said that Cruise agreed to pay a 'substantial' sum to Holmes, but her lawyers insisted all financial matters will remain confidential.

Wolfe also thanked Cruise's lawyers via TMZ, saying: "We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Also read:

Katie Holmes: Elle Cover Speaks to Women, Paints a Thousand Feisty Words