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Katie Holmes and Tom Cruise DivorceReuters

Two-months after they filed for divorce in New York court citing "irreconcilable differences" after five years of marriage, Katie Holmes and Tom Cruise's divorce has been finalised, allowing them to legally part ways with mutual financial settlement.

"The case has been settled and the agreement has been signed," Holmes attorney told E! News.

However, a sneak-peak into their divorce settlement suggests that Tom is getting off pretty cheap and easy and Holmes has settled for merely nothing.

According to TMZ, the 50-year-old Hollywood actor will just have to shell out $4.8 million from his staggering $250 million fortune.

Tom will pay $400,000 per year for daughter Suri till she turns 18, while as per their prenuptial agreement Holmes will not get anything, not even spousal support.

As requested, the sole custody of their six-year-old daughter Suri Cruise has been granted to mother Holmes. However, Tom will have to bear Suri's medical, dental, insurance, education and extracurricular expenses.

In addition, the duo have agreed that Suri will not attend the Delphian, a Scientology school in Oregon, like her step brother and sister, instead will be admitted to another school.

"We are committed to working together as parents to accomplish what is in our daughter Suri's best interests," the former couple said in a joint statement, Daily Mail reported.

"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," the statement further added.

The couple married in 2006 and declared their split in July, this year.