The Tennessee Titans and Derrick Henry have agreed to a four-year, $50 million contract. The deal includes $25.5 million in guaranteed money.

Henry was prepared to play under the franchise tag if they were unable to agree to a contract.

Henry's contract, which carries an average per year of $12.5 million, makes him the NFL's fifth-highest-paid running back, trailing only the Panthers' Christian McCaffrey ($16 million), the Cowboys' Ezekiel Elliott ($15 million), the Jets' Le'Veon Bell ($13.1 million) and the Texans' David Johnson ($13 million).

The Tennessee Titans are not expected to reach a long-term deal with Derrick Henry by Wednesday's deadline for franchise players, according to a source.

Henry, 26, signed his franchise tender in April and is scheduled to make $10.27 million this season and become a free agent in the offseason.

He rushed for a league-leading 1,540 yards last season with 16 touchdowns.

The Tennessee Titans remain interested in signing Jadeveon Clowney.

However, Jon Robinson says he'd like to see the pass rusher in person first.

"What I've seen on Twitter, him rushing off the edge and hitting that bag," the general manager said. "Anytime you are dealing with whatever the contract is going to command, you want to make sure that the player is healthy, that you are able to allow your doctors to see him, to look at it, to make sure everything is going to be good."