Avril Lavigne Blames 'weak' Spears For Her Meltdown. - page 2

02-04-2007 10:01

The pair reached an agreement after a five-hour meeting in Los Angeles on Thursday (29Mar07), based on a prenuptial agreement signed before they married in September 2004.

According to newspaper reports, Federline has settled for a payout of just $1 million from Spears' estate, which is valued at anything between $50 million (£27.5 million) and $100 million (£55 million).

The former couple also reached an agreement over custody of their two children, 18-month-old Sean Preston and six-month-old Jayden James. Spears is thought to have gained custody with Federline granted full visiting rights.

Spears appeared happy with the outcome of the talks - she grinned at photographers who caught up with her just hours after coming out of the meeting.

The agreement must be approved by a judge before their divorce is finalised.