Jonathan Wolfe, Holmes’s attorney, confirmed the deal in a statement to PEOPLE magazine.

“The 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,” he says.

Katie’s attorney adds, “We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution.”

No details surrounding the agreement have been leaked yet, but sources close to Tom and Katie say their biggest concern remains their daughter Suri. They’re reportedly working on an arrangement where Suri lives with Katie in New York and Tom will have visitation rights.

Publicists for Tom Cruise and Katie Holmes released a joint statement earlier today from the couple. The statement says, “We are committed to working together as parents to accomplishing what is in our daughter Suri’s best interests. 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.”

Weren’t we all expecting more fireworks? Such a speedy resolution is surely going to spark those “marriage contract” rumors.

We’re looking forward to seeing more of Katie as she reignites her career. She has already taped a guest spot for Project Runway All Stars.