Kevin 'receives $1 million from Britney'

Britney Spears' estranged husband Kevin Federline will reportedly receive just $1 million (£510,000) from their marriage.

The pair reached an agreement after a five-hour meeting in Los Angeles on Thursday. The agreement is said to be based upon a prenuptial agreement signed before they married in September 2004.

US financial magazine Forbes estimates Spears' wealth at around $100 million (£51 million).

Spears and Federline are also said to have reached an agreement over custody of their two children, 18-month-old Sean Preston and six-month-old Jayden James. Spears has reportedly gained custody with Federline granted full visiting rights.

The agreement must be approved by a Los Angeles judge before the divorce is finalised.