Minnesota Vikings Corey Wootton sacks Kansas City Chiefs quarterback Alex Smith
Aug 23, 2014; Kansas City, MO, USA; Minnesota Vikings defensive tackle Corey Wootton (99) sacks Kansas City Chiefs quarterback Alex Smith (11) in the second half at Arrowhead Stadium. Minnesota won the game 30-12. Reuters

Alex Smith and the Kansas City Chiefs will extend their partnership after the veteran quarterback signed a four-year contract extension worth roughly $68 million. $45 million is guaranteed in the deal.

The deal will pay Smith $17 million annually landing him inside the top 10 of the highest-paid quarterbacks in the National Football League (NFL). Smith will also be the highest-paid player on the Chiefs roster with a better annual average salary over linebacker Tamba Hali ($11.5 million) and Jamaal Charles ($9.05 million).

Highest Paid Quarterbacks in the NFL (Annual Salary Average):

1. Aaron Rodgers (Green Bay Packers) - $22 million
2. Matt Ryan (Atlanta Falcons) - $20.75 million
3. Joe Flacco (Baltimore Ravens) - $20.1 million
4. Drew Brees (New Orleans Saints) - $20 million
5. Peyton Manning (Denver Broncos) - $19.2 million
6. Colin Kaepernick (San Francisco 49ers) - $19 million
7. Jay Cutler (Chicago Bears) - $18.1 million
8. Tony Romo (Dallas Cowboys) - $18 million
9. Matthew Stafford (Detroit Lions) - $18 million
10. Alex Smith (Kansas City Chiefs) - $17 million

Smith was acquired by the Chiefs in 2013 in a deal with the San Francisco 49ers with his current deal paying him just $7.5 million.

Kansas City general manager John Dorsey was excited for the Chiefs’ future with Smith under center for a long time.

"It was a priority of ours to get this deal done and keep Alex in a Chiefs uniform long-term," Dorsey said via the team's official website. "Alex is a proven leader on and off the field. He is a special individual with a lot of ability, and we are fortunate to have him here."

The signing will also renew the partnership of head coach Andy Reid of Smith. The duo led the Chiefs franchise to a 11-5 record good for second in the AFC West and made the playoffs for the first time in three years.

“John and his staff along with Tom and his group have worked hard to get this deal done. They’ve done a nice job,” Reid said in the same team press release. “Alex is a smart, talented football player that has adapted well to our offensive scheme. He also, obviously, has had a tremendous amount of success as a quarterback in this league. We as a team are very happy to have Alex as our quarterback moving forward.”

Smith was picked the no. 1 overall pick in the 2005 NFL Draft and played there from 2005 to 2012. The SF franchise found another franchise QB in Colin Kaepernick which led the team to trading Smith away to Kansas City.