While financial details regarding Paul Pierce's new contract with the Celtics have not been released, and likely won't be until the contract becomes official per league rules on July 8, Jeff Goodman of Fox Sports is reporting that it is less than a max deal: "According to a source close to the Celtics, Pierce's new contract is a 4-year, $61 million deal." That would break down to an average of $15.25 million per season (significantly less than the $21.5 million he stood to make in 2010-11 per the terms of his old deal).
Goodman also quotes the same source as ssayingg all four years will be guaranteed, which differs than what the Herald reported, which is that the fourth year is a team option.