Reportedly, Britney Spears' estranged husband Kevin Federline will walk away with a mere $1 million from their divorce.  According to newspaper reports, Federline has settled for a payout of just $1m from Spears' estate, which is valued at anything between $50m and $100m. This settlement is tiny in comparison to the estimated $10m that Federline was going to receive from the divorce.

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

Both Attorneys declined to elaborate on terms of the settlement, saying only that it covers child custody and financial matters.

When Spears filed for divorce on Nov. 7, the pop star cited irreconcilable differences as the reason for ending her two-year marriage to Federline. She sought custody of the children, with visitation rights for Federline.  Spears appeared happy with the outcome of the talks as she was grinning at photographers who caught up with her just hours after coming out of the meeting.