This week, Adams was sensationally traded by the Oklahoma City Thunder after seven years at the NBA club, since making his debut back in 2013 when he was the 12th overall pick in the draft that year.
The two-year extension is reportedly worth US$35 million (NZ$50.16m), according to ESPN.
Adams, 27, had one year remaining on his four-year deal with the Thunder, reportedly worth US$100m (NZ$143.3m).
According to ESPN, Adams will still bank US$27.58m (NZ$39.52) in the upcoming 2020-21 season.