FLORHAM PARK - The New York Jets have signed quarterback Ryan Fitzpatrick to a one-year contract worth $12 million, according to published reports.

Fitzpatrick and the team have been in a contract stalemate for most of the summer over the deal. Fitzpatrick will also reportedly get another $3 million in incentives.

The 33-year-old quarterback has been with the Jets since 2015. He set a franchise record with 31 touchdown passes last year.

If the team was unable to come up with a deal, Geno Smith would have taken over as the starting quarterback.

The Jets also signed running back Bernard Pierce and waived running back Zac Stacy, who failed his physical after missing the last half of last season with a broken left ankle.

The NFL announced in May that Pierce will be suspended for the first two games of this season, likely stemming from a DUI arrest.

Jets training camp started Wednesday. Their first team practice is expected to be held Thursday.

The Associated Press wire services contributed to this report.