A court spokesman says no formal settlement has been filed, but Federline's attorney, Mark Kaplan, said the agreement averts a trial on custody issues that had been scheduled for late August.
Spears' attorney, Laura Wasser, says the agreement will give Spears more time with her young boys, Sean Preston and Jayden James. While Federline still has full custody, Wasser says Spears may get expanded rights by the end of the year.
Spears lost custody last year following several high-profile incidents of erratic behavior. She has since been under the conservatorship of her father, Jamie Spears, who retains control of her personal affairs and finances.
