Katie Holmes receives just USD 400,000 a year in child support
Los Angeles: Katie Holmes will receive no spousal support from superstar ex-husband Tom Cruise and has been granted a mere USD 400,000 per year in child support payments in her divorce settlement.
The 33-year-old former `Dawson`s Creek` star signed a prenuptial agreement when she married Cruise in 2006 which excluded her from his USD 250 million fortune.
With no spousal support from the `Top Gun` star, Holmes will only receive USD 33,000 a month in child support for their six-year-old daughter Suri until she turns 18.
Cruise, 50, will also pay for Suri`s medical and dental expenses as well as her insurance, education costs and college tuition. The money will reportedly be paid by electronic transfer, reported a website.
The couple also agreed that their daughter will not attend boarding school, shooting down reports that Suri would be sent to a school which focused on Cruise`s religion, Scientology. Holmes will have sole custody of Suri, however Cruise was granted `meaningful` visitation rights.
If their marriage had lasted more than 11 years, Holmes, who earns a considerable amount less than her former husband, would have received half of Cruise`s USD 250 million fortune.
The settlement came just two months after Holmes sensationally lodged the legal papers to end their five-year marriage citing `irreconcilable differences`.