The Memphis Grizzlies exercised the third-year contract option on Quincy Pondexter, guaranteeing his contract through the 2012-13 season, Chris Wallace announced.

Pondexter (6-6, 225) has averaged 4.4 points and 2.1 rebounds on .469 shooting in 14.9 minutes in 16 games this season after being acquired by Memphis from New Orleans on Dec. 24 for Greivis Vasquez. The 23-year-old scored a career-high tying 14 points on Jan. 8 at LA Lakers, sinking a career-best seven field goals.