The Carolina Panthers will make Jason Baker one of the NFL’s highest-paid punters. Baker has agreed to a five-year extension through the 2012 season. He could have become a free agent after the 2007 season. The deal is reportedly worth $8.5-million and includes more than $2-million in guarantees. Baker, who was acquired from Denver two years ago, averaged 45.7 yards per punt last season. He has been a Pro Bowl alternate the last two seasons.