TMZ has learned that Britney Spears and Kevin Federline have mutually agreed to a custody arrangement during the month of January.

Under the terms of the stipulated agreement, just filed in Los Angeles County Superior Court, Britney and Kevin will have joint legal custody of their two children, one-year-old Sean Preston and four-month-old Jayden James. Britney will have the lion's share of physical custody. Kevin's physical custody is extremely limited. He will be allowed to be with the children from noon to 4:00 on Monday, Wednesday and Friday at Spears' residence. Under the agreement, Spears can be present, but no one may interfere with Federline's right to be with the children.

Also under the terms of the stipulation, Federline is allowing Spears to take the children to Florida for one week in January.

No agreement has been reached on custody matters after January.

In her petition for divorce filed in November, Spears asked for sole physical and legal custody of the couple's two children. Federline responded one day later asking for the same thing. Britney's Evolution gallery: Click to launch photos

Federline is represented by attorney Mark Vincent Kaplan. Spears is represented by Laura Wasser.

Labels: Britney Spears