Britney Gives Up Custody

Devastated BRITNEY SPEARS has given up sole custody of her two sons to ex-husband KEVIN FEDERLINE.

The singer agreed to give up her rights to SEAN PRESTON, two, and one-year-old JAYDEN JAMES after a reaching a settlement in her on-going custody battle with Federline.

As part of the agreement Britney will also have to pay "K-Fed" US$20,000 a month in child support costs for their children.

Britney will continue with her current visitation rights of two days per week and one over night stay per week and she may also be granted an additional overnight stay by the end of the year.

A source tells People.com,  "All Britney was seeking was a formalisation of her increased visitation that she's obtained over recent weeks, and the additional overnight. She won both of those requests."

It has also been reported Federline's lawyer, Mark Vincent Kaplan, received US$250,000 for his work on the case.

Former backing dancer, Federline said he is "absolutely delighted" about the agreement.

Federline's lawyer Mark Vincent Kaplan says, "Nobody could have anticipated the terms of events that have occurred. This was a two-year journey that will be halted at a point that is good for these children.

"Kevin's goal was not to get custody. Kevin's goal was to set up some kind of template so the mother of his children can co-parent."