Carolina Panthers quarterback Cam Newton on Tuesday agreed to a 5-year contract extension worth $103.8 million, according to a league source.The deal, which locks Newton into Carolina through 2020, includes a payout of $67.6 million in the first three years, with $60 million guaranteed. It’s currently unclear how much of that is fully guaranteed.According to ESPN’s Adam Schefter, the Panthers will pay Newton $31 million in 2015: $22.5 million signing bonus, $7.5 million roster bonus, $1 million salary. Based on those numbers, Newton’s cap charge this season would be $13 million, a $1.6 million savings from the $14.6 million he was originally owed.“I’ve said all along, Cam is our franchise quarterback and we are absolutely thrilled that we got the extension done,” general manager Dave Gettleman said in a statement. “It allows us to do the long-term planning that we need to do to make sure that he’s surrounded with players and that we can continue to build this team.“The amount of obstacles that Cam had to overcome last year and the way he finished the season, not only physically but more importantly mentally, was key for me. It made me very comfortable doing this deal. From a physical standpoint, he’s got everything you’re looking for. He’s strong, he’s fast, he’s got the arm to make all the throws and he’s got a natural feel in the pocket that you really can’t coach. He’s progressed very well as an NFL quarterback and we feel he is still ascending and has a big ceiling yet to reach.”One of the desires from some in the Newton camp was to get a deal richer than Atlanta quarterback Matt Ryan. Here is how Newton’s extension compares to the one Ryan signed in 2013:

• Newton: 5 years, $103.8 million, $20.76 million/year
• Ryan: 5 years: $103.75 million, $20.75 million/year

Newton joins Ryan, Aaron Rodgers, Ben Roethlisberger, Joe Flacco and Drew Brees as the sixth member of the $20-million-a-year quarterback club. Only Rodgers ($22 million) and Roethlisberger ($21.85 million) have a higher annual salary at the position than Newton.“This extension shows the commitment we wanted to make to Cam as our franchise quarterback,” head coach Ron Rivera said. “For me personally, he was the first draft pick we ever made and the first pick in 2011 so it continues to solidify that relationship we have with each other.“We’ve seen continued growth from Cam. As he continues to get better and better this football team seems to respond to him. He’s shown the type of ability to lead on the football field that we’re looking for. We’ve been to the playoffs two years in a row and it bodes very well for our future. I’m very excited we were able to get the deal done.”