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).