EXCLUSIVE: Britney Spears Being Sued For $10M By Ex Business Partner

In the sensational suit, filed in Los Angeles County Superior Court, Britney and her father Jamie are accused of being "sneaky and underhanded" in their clandestine moves to cut Brand Sense Partner, LLC., out of a licensing agreement.

"Britney secretly made a separate deal with Elizabeth Arden in a sneaky underhanded effort to circumvent and evade its obligations to Brand Sense," the suit states.

"Effectively, Britney improperly and illegally cut Brand Sense out of the Elizabeth Arden deal."

Brand Sense accuses Britney of "concealment and evasive actions."

Jamie, who remains his trouble's daughter's conservator, was allegedly caught "red handed" acting on behalf of the singer.

"Brand Sense had a contractual right to a 35% commission on any Britney Spears-branded fragrance sold by Elizabeth Arden," the suit claims.

"But Mr. Spears complained that the commission was too high and said that Britney did not want to pay it."

A compromise deal was orchestrated, which would have delivered royalties directly to Britney.

However, the alleged scheme did not come to light until Elizabeth Arden sent a letter to Britney and Brand Sense, dated February 16, 2011, enclosing a revised royalty report which excluded the Radiance scent.

The agreement was nothing more than a "rouse and a cover-up for" for the Spears' "fraudulent scheme," it's alleged.