Britney Spears & Kevin Federline Settle

By: Shannon Gossage

Michael Sands, a spokesperson for Federline’s lawyer Mark Vincent Kaplan, said Thursday, "All parties signed a global settlement on all issues concerning their marriage and custody of their two children [Sean Preston, 18 months, and Jayden James, 6 months]." The couple and their lawyers spent five-hours on Thursday negotiating the settlement. No details have been released, but the rumors of a $1 million settlement with 50/50 custody are reportedly false.

Spears and Federline reportedly stepped outside the Century City office building where her attorney Laura Wasser’s office is located to have a cigarette break. Sands reported, "They had a 15-minute conversation." Spears and Federline have seemed to come to a mutual agreement to be friends for the sake of their young sons. Federline has been instrumental with getting Spears the help she needs and getting her to go into rehab and stick it out after she had a meltdown in late February. Federline took care of the kids while Spears completed the 30-day stint at the Promises treatment facility in Malibu, California.

Spears and Federline were married in 2004 and had a rocky two-year marriage. Spears announced their split in November and enjoyed a steady downward spiral that landed her right into rehab. Federline, who has been the butt of many jokes since their marriage, stepped up to the plate and showed that he does care for his children and Spears. Hopefully they will be able to maintain a friendship and an easy relationship for the sake of their kids. Federline also has two children – Kori, 4, and Kaleb, 3 – from a previous relationship with actress Shar Jackson.