The deal will bring some stability to the life of one of the NBA's youngest journeymen.
Over his three-year professional career, the 23-year-old has played for Cleveland, Chicago, Charlotte and the Lakers, who at different times last season used Brown or Jordan Farmar as the primary backup to starting point guard Derek Fisher.
A source said all the money is guaranteed for Brown, who was an unrestricted free agent despite playing in the NBA for only three years. The Bobcats signed him as a free agent a year ago after his rookie contract was not extended, and he was dealt to the Lakers in the Vladimir Radmanovic trade in early February.
He averaged 4.1 points last season, and supplanted Farmar as the primary backup ballhandler late in the regular season before coach Phil Jackson went back to Farmar late in the postseason.
Brown cannot sign his contract until Wednesday, when the NBA's moratorium on trades and free agent signings ends.
Chris Sheridan covers the NBA for ESPN Insider.