Following last week’s sudden and rapid firing of three X Factor personalities, the only two people left standing were Simon Cowell and co-judge L.A. Reid.

Many wondered if Reid would get the axe as well, but now they can rest easy: He’s all set for season two.

The Hollywood Reporter learned that he signed his contract yesterday (Friday).

Presumably Cowell will be on the judges panel too, but two spots are still open. Rumors a few days ago suggested that Cowell is hoping to get Beyonce to be one of the judges.