Free agent guard Jannero Pargo will re-sign with the Charlotte Hornets on a fully guaranteed one-year, $1.45 million deal, a league source told RealGM.

Pargo has spent the past two seasons with Charlotte, joining the team on a 10-day contract in March of 2013. In 29 games last season, Pargo averaged 4.7 points and 1.8 assists.

A 10-year NBA veteran, Pargo is a reliable reserve for competing teams. The 34-year-old has averaged 6.4 points and 35.5 percent three-point shooting while playing with the Los Angeles Lakers, Chicago Bulls, Toronto Raptors, New Orleans Pelicans, Atlanta Hawks, Washington Wizards and Hornets.