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Jauan Jennings agrees to a one-year extension through 2025, with a guaranteed sum of $10.5 million.

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Wide receiver Jauan Jennings of the San Francisco 49ers was sighted at the team’s offices this afternoon for OTAs, according to NBC Sports Bay Area’s Matt Maiocco.

Adam Schefter of ESPN announced less than 20 minutes later that Jennings has agreed to a two-year contract worth up to $15.4 million, including a guaranteed $10.5 million. This is a one-year extension since Jennings did not sign his free-agent tender. He currently has a contract that runs through 2025.

Had Jennings accepted his tender, he would have made just less than $3 million. Based on the guaranteed money in his last contract, he is expected to earn over three times that amount. It will be interesting to examine Jennings’ contract in detail and the specific terms that must be met for him to receive the entire $15.4 million.

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