Wallace agreed to a four-year extension today that will keep him under contract through the 2010 season. He was set to become an unrestricted free agent after the 2007 season, but is now locked up after agreeing to his second extension in 12 months.

"We've been talking with his agent, Donald Yee, for a month or so now and it just came together recently," Seahawks president Tim Ruskell said. "We feel good about him. He brings that versatility you guys know about and it came together and the timing was right and we got that done."

Last season, Wallace filled in for an injured Hasselbeck and led Seattle to a 2-2 record in his first opportunity to start as a pro — including wins over Oakland and division rival St. Louis. Those wins helped the Seahawks gain control of the NFC West and eventually take their third straight division title.

He finished the season with eight touchdowns and completed 58 percent of his passes, but he also threw seven interceptions.

Wallace signed a one-year extension during training camp a year ago, but the signing didn't become public until after he had taken Hasselbeck's spot in the starting lineup. That deal paid Wallace $800,000 for the 2007 season. Financial terms of Wallace's new contract were not released.

"We all know the problems people are having in terms of getting quality quarterbacks," Ruskell said. "We thought this was a good opportunity to do that."

By agreeing to a new deal, Wallace is essentially giving up his chance to be a starter. Now in his fifth season, Wallace's contract will mirror that of Hasselbeck's, with both deals expiring after the 2010 season.

That situation is fine by Wallace, who Seahawks coaches would still like to try and find a way to use on the field in another position because of his athleticism.