Ginats sign former 1st overall pick.

Veteran quarterback David Carr agreed to a deal with the New York Giants on Wednesday.

A source said that that the contract is for one year and $1 million with incentives that could increase the overall value of the deal.

The presense of Giants assistant coach Chris Palmer, who worked with Carr in Houston, was a major reason the quarterback chose New York.

"Chris knows me better than anybody," Carr told ESPN.com. "I'm looking forward to getting in there and working with him on what's right and wrong with my mechanics."

Carr, 28, spent last season with Carolina and struggled after taking over for an injured Jake Delhomme. Carr was the No. 1 overall pick in 2002 by Houston and spent the first five years of his career there.

He is expected to compete for the backup job behind Eli Manning.

Carr's best season came in 2004 when he passed for 3,531 yards and 16 touchdowns. Although he had 14 interceptions, the Texans finished 7-9, the best season at that point in the franchise's first three seasons.

But the Texans regressed to 2-14 the next season and 6-10 in 2006. The Texans then acquired former Falcons backup Matt Schaub and cut loose Carr for 2007. With Schaub and then Sage Rosenfels -- who took over due to injury -- at the helm, the Texans went 8-8.

Carr, meanwhile, played in six games for the Panthers last season, throwing for 635 yards and three touchdowns with five interceptions. Carolina went 2-4 in those games, and veteran Vinny Testaverde received the bulk of the starts down the stretch.