Augustin, the ninth pick in the 2008 draft, averaged 11.8 points and 3.5 assists last season. He led NBA rookies by shooting 89 percent from the foul line.

Augustin will make $2.1 million next season. Charlotte also has an option for a fourth season.

The team has until the end of the month to decide whether to do the same with center Alexis Ajinca.

The 7-foot Ajinca was the 20th pick last year but played sparingly as a rookie. Bobcats coach Larry Brown was critical of him before training camp, and general manager Rod Higgins said Tuesday "we'd like to see how it goes in the preseason" before making a decision.