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CHARLOTTE -- The agent for Panthers wide receiver Steve Smith says the five-time Pro Bowler has agreed to a contract extension that will likely keep him with Carolina for the remainder of his career.

Derrick Fox confirmed Tuesday Smith's new contract runs through the 2015 season with a club option for 2016. Smith's contract was to expire after the 2012 season.

Fox did not disclose financial terms of the deal, but said Smith will sign the contract at a 3 p.m. press conference.

Fox says his client is "simply ecstatic about being able to finish his career in Carolina."

Smith, who turns 33 in May, has spent all 11 seasons with the Panthers. He was selected to the Pro Bowl last season after catching 79 passes for 1,394 yards with seven touchdowns.

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