Katie Holmes' 'five-year contract': Did she stick around for more money?
When news broke on Friday of Tom Cruiseand Katie Holmes' divorce, everyone was suddenly a comedian. Your Twitter timeline and Facebook news feed were likely filled with your friends making hilarious (recycled) jokes about Tom "shaving his beard for summer" and Katie's "five-year contract expiring."
Turns out, the five-year contract joke may have some actual merit -- though it's not the kind of contract you thought. Katie and Tom did have a prenup before getting married in that enormous Italian castle, and she will receive a better payout for having crossed the five-year mark.
"The contract calls for payouts to Katie in the event of a divorce, with specific amounts depending on how long they were married. We've also been told that a certain dollar figure may kick in after five years of marriage and another after 10," reports E!. Because she held out until after they'd been married five years, Katie will walk away with significantly more money than she would have if they'd split earlier.
With Forbes reporting that Tom made $75 million last year while Katie made only $5 million, she stands to get a considerable pay bump. It's also likely that Tom will be required to buy a home for Katie to live in with Suri, though he'll possibly put the home in their daughter's name, not Katie's. You can bet that his child support payments will be nothing to sneeze at -- he's got to keep his little princess in those designer kitten heels to which she has become accustomed.