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The Chargers and Herbert agreed to terms on a five-year, $262.5 million extension Tuesday, Ian Rapoport of NFL Network reports.

Herbert's new deal means he's locked in through the 2029 campaign. Through his first three seasons, he's topped 5,000 passing yards on one occasion and 30-plus touchdowns two times, while also rushing for eight scores in 49 games. Herbert is the second-to-last domino to fall in the QB extension market this offseason, with Joe Burrow still yet to get his big payday from the Bengals.

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