The deed is done! Britney Spears has finally signed the contract to become part of X Factor USA's judging panel. She has officially signed the papers, which will see her role as a judge sitting alongside Simon Cowell, LA Reid, and a fourth judge. 

A source told E!Online: "The contract is signed. There's been a lot of back and forth over the past few weeks as they negotiated the small details, but she's on. It's all completed and Britney is beyond excited."

Spears will reportedly get $15 million for one season's work as a member of the judging panel.

"She's ready for this," the source says. "She can't wait to sit down next to Simon at the judges' table and give this everything she's got. She is excited about showing the world that she can do this, and do this well. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together."

Previous X Factor judges Paula Abdul and Nicole Scherzinger are not returning to the second season of the show. Host Steve Jones has also been fired by the music mogul. 

Earlier reports suggested that Demi Lovato will be the fourth judge of the show, although official confirmation is yet to come through. Others being considered for the position were rumored to be Miley Cyrus, Fergie, Avril Lavigne, and most recently, Chaka Khan. 

Tags: Britney Spears x factor usa