The Grizzlies have finally agreed to contracts with rookies Xavier Henry and Greivis Vasquez.

The pair reach the deals in principle through their agents. Both players will sign contracts worth 120 percent of the NBA's rookie salary scale designated for their draft positions.

"As far as I'm concerned, I'm happy the issue has been resolved," Memphis owner Michael Heisley said. "There's no question I'm doing what I should have probably done earlier."

The Grizzlies had offered 100 percent of the rookie salaries with an added 20 percent tied to performance clauses.