Philadelphia, PA -- (Sports Network) - The Philadelphia Eagles restructured the final two years of Donovan McNabb's contract on Thursday. The franchise quarterback's current deal is set to expire at the conclusion of the 2010 season.

The Eagles, who signed McNabb to a lengthy extension back in 2002, did not release the financial details but have scheduled a press conference at 10 a.m. (et) on Friday.

"We are thrilled that this all worked out," said Eagles president Joe Banner. "[McNabb] is a great football player, a great person, and someone who gives back to the community. We are lucky to have him in Philadelphia."

The second overall pick in the 1999 Draft has played his entire 10-year career in Philadelphia, guiding the Eagles to five NFC Championship games, including an appearance in Super Bowl XXXIX.

The Chicago native had a tumultuous 2008 campaign, highlighted by his benching in a Week 12 blowout loss to Baltimore. But the five-time Pro Bowl selection battled back to lead the Eagles to four victories in their final five regular season games to sneak into the playoffs, where they were once again ousted in the NFC title bout by Arizona.

McNabb has re-written the franchise's record book for quarterbacks, ranking first in passing yards (29,320), touchdowns passes (194) and completions (2,534). He also has the lowest interception percentage in NFL history (2.09 percent).

In addition, the Syracuse product has rushed for 26 TDs and 3,109 yards in his career.