"I'm excited. A lot of HOF DBs have gone through this incredible organization and I am looking to uphold that standard," Sherman said via a text message sent to Steve Wyche of NFL Network.
Tom Pelissero of NFL Network reported some of the details of the contract.
Sherman's deal includes a $5 million signing bonus and a $2 million base salary. He will earn $2 million in 46-man roster bonuses and $1 million in play-time incentives.
Should Sherman make the Pro Bowl in 2018, he will earn $3 million and $16 million in base salary for 2019 and 2020 will become guaranteed.
The new deal makes Sherman the sixth-highest paid cornerback in the NFL when it comes to average annual salary, according to Spotrac.com.
Sherman, who spent all of Saturday meeting with the 49ers in Santa Clara, represented himself in the contract negotiations. The visit started on Friday night when he had dinner with head coach Kyle Shanahan.
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