Jefferson, currently in Greece as a member of the U.S. Olympic team, agreed to the deal last week and the Nets announced Friday he had signed it. He would have become a restricted free agent after next season.
Jefferson averaged a team-high 18.5 points and 38.2 minutes a game last season. Jefferson also averaged 5.7 rebounds, 3.8 assists and 1.12 steals a game, and appeared in a career-high 82 games.
New Jersey was forced to sign and then trade Martin to Denver
rather than match a proposed seven-year, $90 million contract. The Nets would have had to pay Martin $23 million in salary and bonuses had they matched a planned Nuggets offer sheet.
Kittles was traded to the Los Angeles Clippers for a second-round draft choice.