Orlando Magic added to their point-guard depth during the first hours of the NBA’s free-agency period early Friday morning, reaching a deal in principle with 28-year-old D.J. Augustin.

According to ESPN, the deal will be worth a total of $29 million over four seasons.

Augustin’s impending move to the Magic will reunite him with his former Indiana Pacers coach, Frank Vogel.

Augustin posted one of the best long-range shooting years of his eight-year career this past season, making 40.5 percent of his 3-point tries in stints with the Oklahoma City Thunder and Denver Nuggets.

Players may not formally sign contracts until July 7, when the NBA will lift its moratorium period.

Augustin’s addition signals that Magic officials felt it was necessary to improve the depth behind starting point guard Elfrid Payton.