Rick Bonnell of the Charlotte Observer confirmed the sides had reached an agreement. Wojnarowski noted Williams had received offers with a higher average value of around $15 million per season, but he wanted to remain in Charlotte.
Williams, 30, averaged 11.7 points, 6.4 rebounds, 1.4 assists and one block in 28.9 minutes per game. He started 81 games for the Hornetsthis season and helped lead the team to the playoffs.
He struggled offensively in the postseason, however, averaging just 5.1 points and 6.9 rebounds in seven games. The Miami Heat eliminated the Hornets in seven games in their opening-round series.
Nevertheless, Williams was an excellent defender this season and had to take on a bigger role in that capacity, as Bonnell noted: