According to official salary figures circulated by the league Tuesday after the deal was formally signed and obtained by ESPN.com, Camby's extension is a two-year deal worth $17.7 million in guaranteed salary. The extension will pay him $8,453,250 in 2010-11 and $9,256,500 in 2011-12.
The deal, though, also features unspecified incentives. Camby's agent Rick Kaplan told The Oregonian on Tuesday that the contract contains up to $5 million in potential incentive bonuses.
The 6-11, 235-pound center was acquired from the Los Angeles Clippers on Feb. 16 in exchange for Travis Outlaw and Steve Blake. He started 23 regular season games for the Trail Blazers, reinforcing a position depleted by injuries to Greg Oden and Joel Przybilla.
Portland went 17-6 with Camby in the lineup, and the 36-year-old grabbed 17 rebounds Sunday as the Trail Blazers beat Phoenix in Game 1 of their first-round playoff series.
In a statement, general manager Kevin Pritchard said Camby has been a "great fit for us."
Information from The Associated Press and ESPN.com's Marc Stein was used in this report.