The former couple announced their split less than two weeks ago and have today (July 9) reached a settlement on their divorce.
> Tom Cruise, Katie Holmes release joint statement on divorce
People has since reported alleged details of the custody agreement over 5-year-old Suri, revealing that while she will remain with Holmes, Cruise will receive "generous visitations" with his daughter.
"They both love their daughter and Tom thinks she should be with her mother," a source told the publication.
"[Tom] didn't want his family dragged through the mud. Neither one of them wanted this to be hashed out in public."
It was recently reported that Cruise was seeking "significant contact" with Suri and saw her as a primary concern in his split from Holmes.
Photo gallery - Tom Cruise and Katie Holmes - their relationship in pictures:
Copyright: Rex Features