Former couple came to agreement late Thursday.
Nearly five months after Britney Spears filed for divorce from Kevin Federline, the parties reached a settlement late Thursday (March 29) though it's not yet certain what the agreement entails.

The settlement session took place Thursday at Spears attorney Laura Wasser's office in Century City, California. Spears, Federline and their respective lawyers met for five hours, during which they came to terms on "all issues of their marriage and child custody," according to a statement from the spokesperson for Federline's attorney, Mark Vincent Kaplan. "At one point, Kevin went down for a smoke and Britney followed him outside," the statement read. "They had a 15-minute conversation. Then they went back upstairs."
While reports have circulated that K-Fed's end of the deal is a $1 million payout with a joint-custody arrangement, sources close to the case told MTV News those reports are false. The terms of the settlement had not been disclosed as of late Thursday.

Federline originally asked the court not to award spousal support to Spears because he wanted it for himself, according to papers he filed in November  Spears had petitioned the court that her property  including jewelry and earnings from and after the date of separation be considered separate from Federline's.

The couple had agreed in January to a temporary joint-custody arrangement that included a three-days-a-week visitation schedule for Federline, according to documents filed in Los Angeles Superior Court. But Federline took over custody of their two children then 18 month-old Sean Preston and 6-month old Jayden James just before Spears checked into rehab in February . A source close to him told MTV News that he's "not about to give them up."

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