The Carolina Panthers and Cam Newton have agreed upon a five-year, $103.8 million extension.

The extension features $60 million guaranteed and will earn Newton $67.6 million in the first three years, according to the source. The deal further breaks down to a $22.5 million signing bonus, a $7.5 million roster bonus due Saturday, and a $1 million base salary this season which all totals to $31 million for this season, the source said.

Newton will be the highest paid player in the NFL in 2015 barring an extension for Russell Wilson or Andrew Luck.