Britney reaches Divorce Settlement with K-Fed

Britney Spears and Kevin Federline have officially terminated their 18 month's marriage after having arrived at a divorce settlement in a five hour meeting. The settlement is subject to an approval by a judge.

Troubled pop star, Spears and former backup dancer, Kevin Federline on Thursday gave their nod to a "global settlement" on their marriage and officially terminated their marriage, according to Michael Sands, a spokesman for Federline's attorney, Mark Vincent Kaplan.

"The parties signed an agreement which was a global settlement on all issues of their marriage and child custody," Sands said in a statement.

The signing of the divorce agreement, which is subject to final approval of a judge, came after a five-hour meeting between the couple and their lawyers on Thursday in Los Angeles, Sands informed. As told by Sands, a breakthrough in the talks came after Federline stepped away to smoke a cigarette, and Spears followed him outside. They had a 15-minute private talk, and then returned to the negotiating table.

However, Sands declined to disclose the terms of the settlement, saying that it covers only child custody and financial matters. Spears' attorney, Laura Wasser, declined to comment.

Celebrity Web site TMZ.com cited anonymous sources as saying that Federline, Britney’s estranged husband, will receive $1 million as part of the settlement, and that the couple agreed to joint custody of their boys.

But a source close to couple said the $1 million figure was inaccurate declining to tell the accurate one.

Federline, 29, who has been trying to launch himself as a singer, has two children with Spears, 5-month-old Jayden James and 17-month-old Sean Preston.

Britney, 25, filed divorce from her hubby in November, citing irreconcilable differences as the reason for ending her two-year marriage to K-Fed. In her divorce petition, Britney sought custody of the children, with visitation rights for Federline. Acting promptly, Federline counter-filed court papers the following day seeking sole custody of their boys.

After departing from Federline, Britney has been seen partying hard with Paris Hilton, and her appearance has been increasingly sloppy. The popstar, who has always been interesting fodder for media wags, with her strange behavior dragged media attentions many a times.

She has been criticized for her strange acts ranging from her kiss with Madonna at the 2003 MTV Video Music Awards to posing nude for the August 2006 cover of Harper's Bazar. She has also been pictured climbing out of cabs without wearing underwear while partying out with socialite Hilton.

She was also criticized for her carelessness towards her children. Several photographs published showed Spears driving her SUV in Malibu, California with her 4-month-old son Sean Preston perched on her lap rather than strapped into a car seat in the back seat, and another time almost dropping him.

Late last month, Britney left her fans in shock and prompted fears over her mental health by wildly shaving-off her locks at Esther's Haircutting Studio in the Tarzana district of Los Angeles. She was also pictured crazily attacking a photographer's car with an umbrella when Kevin refused to open the door and let her into his house.

After bout of bizarre behavior, the troubled pop star checked into the Promises treatment center in Malibu, California, on 22. Even, during her nearly one-month stay at the Promises Clinic, the “Oops!” girl tried to take her own life by hanging herself. According to a UK tabloid, the falling pop star tried to hang herself with a bedsheet after an erratic behavior, and after the suicide attempt asked Kevin on phone to father another child with her.

The American pop singer, dancer, actress, author and songwriter, who had been the driving force behind the return of teen pop in the late '90s, has checked out of the luxurious rehab center more than a week ago.

Currently, the singer is working on her fifth studio album which is due for release in 2007.