The Chiefs and quarterback Alex Smith agreed to a four-year deal on Sunday, according to Terez A. Paylor of The Kansas City Star.
The deal could be worth a total of $68M over four years, and $45 million of it is guaranteed.
Smith, 30, was a Pro Bowler last season after throwing 23 touchdowns and seven interceptions in 15 games, leading the Chiefs to the playoffs for the first time since 2010. He had one year left on a deal that would have paid him $7.5 million this season.
Smith, the first pick of the 2005 draft, spent his first eight NFL seasons with the 49ers before they traded him to Kansas City for two second-round draft picks last offseason.
- Chris Mascaro