The Kansas City Chiefs have signed quarterback Alex Smith to a contract extension as reported by Terez Paylor of the Kansas City Star.

Paylor is reporting that Smith has received a 4 year contract worth $68 million with $45 million in guaranteed money.  Other reports say Smith will get a guaranteed $30 million at signing and another $15 million that vests in March.

Smith was scheduled to become a free agent after the 2014-15 season.