The Charlotte Hornets will be keeping one of their younger players as they signed guard Jeremy Lamb to a contract extension before the deadline given by the National Basketball Association (NBA) last Monday.

A deadline was given for teams to sign former first-round picks, who are in the fourth of fifth year of their existing deals, to extension contracts. 

Lamb was a first-round pick in 2012 (12th overall) by the Houston Rockets who traded him to the Oklahoma City Thunder and also saw action in the NBA Developmental League (D-League). 

The former Connecticut Husky spent his first three seasons in the NBA with Oklahoma City before getting traded in this year's offseason to the Hornets. 

Lamb was one of a handful additions to Charlotte in the offseason which included the likes of forward Nicolas Batum, point guard Jeremy Lin, and centers Tyler Hansbrough and Spencer Hawes. 

The new contract for the 23-year-old guard was reportedly a three-year pact that will earn him $21 million. 

"We were thrilled with the opportunity to add Jeremy Lamb to our roster this past summer," Hornets general manager Rich Cho stated, according to the team's website. 

Cho added, "Through the preseason and start of our regular season, Jeremy has proven to be the type of player and professional we seek here in Charlotte. We're excited to have him as a part of the Hornets for years to come."

Lamb missed the Hornets' season opener, a 104–94 loss to the Miami Heat, but played in their next two games which were also defeats, as they started the season at 0–3. 

The Hornets continued their campaign this season when they took on the Chicago Bulls and secured their first win this season at the The Time Warner Cable Arena on Tuesday. The match was the second of a two-game home stand. 

Following their matchup with the Bulls, the Hornets will be on a three-game Western Conference road trip taking on the Dallas Mavericks, San Antonio Spurs, and the Minnesota Timberwolves.