Britney Spears, Rihanna, Jason Trawick

Ethan Miller/Getty Images; Christopher Polk/Getty Images

We kid, we kid.

Jason Trawick has parted ways with Britney Spears—but don't think that supersexy smooch with Rihanna at the Billboard Music Awards last night had anything to do with it.

Here's the real deal…

Trawick is only stepping aside as her agent, not her boyfriend.

Trawick has left William Morris Endeavor, where he was working with the "Hold It Against Me" singer, and has taken a job with another company.

He'll soon create an arts and entertainment division for a Los Angeles based company called Famos LLC, which will promote artists who have a digital audience. A website for the company, whose partners include Dave Stewart of Eurythmics fame and Mick Jagger (themselves part of the newly formed supergroup Superheavy with Joss Stone, Damien Marley and Slumdog Millionaire music mastermind A.R. Rahman), says it will launch soon.

Trawick and Spears are still going strong. So strong, in fact, that last month, when Spears rocking some serious bling on her left ring ringer ,  her rep was forced to shoot down speculation that they were engaged.

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