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The Green Bay Packers have agreed to contract terms with fifth-round receiver Trevor Davis, a source confirmed Thursday.

Davis, a senior receiver at Cal, was drafted with the 163rd pick in the fifth round. A source said Davis’ deal will pay the slotted amount for his draft spot. The 163rd pick is projected to receive $2.567 million over four seasons, with a $227,176 signing bonus and $506,794 cap hit in 2016, according to Spotrac.com.

Under the NFL’s slotted salary system for drafted players, the 163rd overall pick’s total compensation has increased 3.2 percent each season. A year ago, the Dallas Cowboys drafted Purdue defense end Ryan Russell with the 163rd overall pick in the fifth round. Russell’s deal paid him $2.482 million over four years, according to Spotrac.

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It's unlikely Davis would count against the cap this season. Only the 51 richest contracts count against a team's cap. Davis, the second-to-last player Packers general manager Ted Thompson drafted in this class, would figure to not crack the 51.

Davis brings speed to a Packers receiving group that needs it. His 4.42-secon, 40-yard dash at the third-fastest at the NFL scouting combine in February and could be good value in the late fifth round. The Packers also believe Davis is a smooth route runner, making cuts without losing speed.

"Very smooth. Sudden," director of football operations Eliot Wolf said. "Plays mostly outside there, but can also play in the slot. Really drops his weight well. Good route runner."

Davis had 40 catches, 672 yards and two touchdowns playing in the same offense as Cal quarterback Jared Goff, the No. 1 overall pick to the Los Angeles Rams. In a balanced passing attack, he was the Golden Bears’ fourth receiver.

Of course, Davis will join another former Cal quarterback in Green Bay. He's already excited to catch passes from Aaron Rodgers.

"I know my favorite quarterback is on their team," Davis said. "My boy that plays on their team from Cal. It's great. I've followed him throughout my career. I grew up in the Bay Area, but just knowing that they have such a great quarterback is just amazing for a receiver like me."

rwood@gannett.com and follow him on Twitter @ByRyanWood

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