EAST RUTHERFORD, N.J. — The New Jersey Nets have signed first-round draft pick Terrence Williams.

Nets President Rod Thorn announced the signing today.

The deal is for four years, with the Nets holding an option on the final two years. Williams will earn a little over $2 million in his first season and just over $2.2 million in the second. He will earn $2.4 million in the third and $3.1 million in the final year if the team exercises the option.

Williams, a 6-foot-6 guard-forward from Louisville, was the 11th overall pick in the draft. He was a first-team All-Big East selection who became the first player in school history to finish his career with at least 1,500 points, 900 rebounds, 500 assists and 200 steals.