According to a league source, the Indianapolis Colts have reached agreement on a four-year contract with seventh-round cornerback Ray Fisher.

Fisher's deal is believed to be worth $1.83 million dollars, and includes a signing bonus of roughly $42,000.

The 5-8, 172-pound Fisher began his career at Indiana University as a wide receiver, catching 118 passes for 1,070 yards and 9 touchdowns before moving to cornerback before his senior season. Fisher started six of nine games at cornerback for the Hoosiers in 2009, totaling 49 tackles with a pair of pass break-ups and a fumble recovery.

During his career, Fisher averaged 36.1 yards on 18 kick returns, returning two for touchdowns, and 9.7 yards on 17 punt returns. Fisher’s longest return went for 95 yards.

With 2010 third-round pick Kevin Thomas expected to miss the season with a knee injury, Fisher will compete with second-year corner Jacob Lacey for the team's nickel cornerback role.

Fisher is the first of the Colts' eight picks in the 2010 NFL Draft to sign or agree to terms on a contract.