ENGLEWOOD—All the kids are now accounted for.

The Denver Broncos reached an agreement Thursday morning with first-round quarterback Paxton Lynch on a four-year contract that includes a signing bonus of $5,091,860 and a fifth-year option the team can exercise after his third season.

The total value of the contract (not including the fifth-year option) should come in around $9.5 million based on the NFL’s draft pick slot system. Lynch will sign his contract following the team’s minicamp practice today.

The Broncos traded from their No. 31 overall pick up to No. 26 in the first round of the NFL Draft to select Lynch, a 6-foot-7, athletic quarterback from Memphis.

Lynch has been operating as the Broncos’ No. 3 quarterback during the offseason, although he has been sharing reps with Mark Sanchez and Trevor Siemian.

The Broncos now have all eight of their draft picks under contract.