Trevor Lawrence is staying in Jacksonville, Florida, for quite some time.

On Thursday, according to NFL Network insider Ian Rapoport, the Jacksonville Jaguars and former Clemson football star quarterback have agreed on a five-year, $275 million contract extension that would make him one of the highest-paid quarterbacks in the NFL. The news was confirmed by USA TODAY Sports' Cydney Henderson and Tyler Dragon.

The extension comes after the Jaguars picked up Lawrence's fifth-year option in April and Lawrence telling reporters during Jaguars OTAs at the start of the month that he had no preferred timetable to sign his extension.

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The Jaguars took Lawrence with the No. 1 overall pick in the 2021 NFL Draft. Since then, he has earned one Pro Bowl selection, which came in his second season in 2022. He led Jacksonville to a 9-8 record last season, finishing with a QB rating of 56.1%. He completed 370 of 564 passes, throwing for 4,016 passing yards and 21 touchdowns.

Here's everything you need to know about Lawrence's NFL contract extension, from its details to where he now stands among the highest-paid quarterbacks in the NFL:

Trevor Lawrence contract details

• Length: Five years

• Total salary: $275 million

• Total guarantee money: $200 million

According to NFL Network insider Ian Rapoport, Lawrence's contract extension with the Jaguars is for five years and $275 million. Of that $275 million, $200 million of it is guaranteed, with $142 million of that fully guaranteed once Lawrence and the Jaguars put pen to paper.

Highest-paid quarterbacks in the NFL

• Total value: $275 million (2nd)

• Average annual value (AAV): $55 million (Tied 1st)

• Total guarantees: $200 (2nd)

Using Over The Cap as the database, along with reporting from ESPN, Lawrence's five-year contract extension ties him with Cincinnati Bengals quarterback Joe Burrows as the second highest-paid quarterback in the NFL in total value at $275 million. Only Kansas City Chiefs quarterback Patrick Mahomes surpasses at $450 million.

In terms of where Lawrence's $55 million average annual value (AAV) ranks among NFL quarterbacks, it is tied for first with Burrows.

He is the sixth quarterback in recent years to agree to a contract extension that has an AAV worth more than $50 million, according to ESPN, joining the Detroit Lions' Jared Goff, the Los Angeles Chargers' Justin Herbert, the Baltimore Ravens' Lamar Jackson and the Philadelphia Eagles' Jalen Hurts, along with Burrows.

Note: Over The Cap has not updated its tracker to reflect Lawrence's contract extension with the Jaguars.

This article originally appeared on Greenville News: Trevor Lawrence contract details: Ex-Clemson QB, Jaguars on extension