From the Knicks:
NEW YORK, October 28, 2013 – New York Knickerbockers President and General Manager Steve Mills announced today that the team has exercised its fourth-year contract option on guard Iman Shumpert.
In two seasons, Shumpert, 6-5, 220-pounds, holds career averages of 8.3 points, 3.1 rebounds and 2.3 assists over 26.0 minutes in 104 games (80 starts) with New York. He appeared in, and started, 45 games last season to average 6.8 points, 3.0 rebounds and 1.7 assists over 22.1 minutes. The Oak Park, IL native was originally selected by the Knicks in the first round (17th overall) of 2011 and earned 2011-12 NBA All-Rookie First Team honors.
Cool. I hope Iman plays every year on that contract and every year after it until he no longer wants to play basketball.
According to Sham Sports, Shump is now locked in through the summer of 2015, at which point (as things currently stand) he will become a free agent.