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 (see [article id="1545309"]"Kevin Responds To Britney's Divorce Filing: He's Going To Fight"[/article]). 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 (see [article id="1552810"]"Britney Spears Checks Into Rehab"[/article]). A source close to him told MTV News that he's "not about to give them up."

Just over a week ago, Spears checked out of the Promises Malibu Alcohol and Drug Rehab Treatment Facility after completing her program during a four-week stay, according to her manager. When Spears temporarily left the program less than 24 hours after checking into rehab for a second time -- she had briefly visited the Crossroads Centre on the Caribbean island of Antigua prior to entering Promises -- Federline requested an emergency family court hearing, which was canceled after Spears checked herself back in (see [article id="1552908"]"Britney Spears Leaves Rehab; Federline Requests Emergency Hearing"[/article]).

After returning from her first trip to rehab, Spears made a shocking public appearance, debuting her newly shaved head at a tattoo shop in Sherman Oaks (see [article id="1552735"]"Britney Spears Shaves Head, Gets Tattoo"[/article]). In recent months preceding the rehab stint, the singer was photographed at clubs across the country, often in a disheveled state and in scant attire (see [article id="1549365"]"Britney Tells Fans 'I Get It ... I Know I've Been Far From Perfect' "[/article] and [article id="1547506"]"Britney Speaks: 'Thank God For Victoria's Secret's New Underwear!' "[/article]).

Federline is Spears' second husband. Her first marriage -- in a quick Las Vegas ceremony in January 2004 to childhood friend Jason Alexander -- lasted 55 hours before being annulled (see [article id="1484377"]"Britney On Her Marriage: Vegas Made Me Do It"[/article]).

Spears' camp did not respond to requests for comment by press time.

For more on Spears and Federline's relationship, check out [article id="1545307"]"Britney & Kevin Timeline: Those Were The Days ... "[/article].