Webb received a signing bonus slightly higher than $529,500.
His base salary for 2009 is $310,000 with subsequent base salaries of $395,000 in 2010 and $480,000 in 2011.
"Lardarius was slowed some in the OTAs with a hamstring problem, but toward the end, when he was feeling better, he showed he belonged," Ravens coach John Harbaugh said in a statement. "He’ll help us on special teams, including as a gunner, and he’ll contribute to our defense."
Webb is a two-time Division I-AA All-American selection from Nicholls State (La.). He transferred from Southern Mississippi after running afoul of team rules.
Webb intercepted seven career passes and recorded 179 tackles, three sacks and returned three kickoffs for touchdowns.
As a senior last year, Webb recovered two fumbles, forced another and picked off two passes while notching 50 solo tackles.
Webb has drawn praise from the coaching staff for his versatility because of his ability to play cornerback and safety as well as his kick return skills.
“The fact that he can play both positions was a real positive when we drafted him,” defensive coordinator Greg Mattison said at the Ravens’ recent rookie minicamp. “The thing you have to decide now is, ‘Where can he get the most work to make him the best he can be?’ He’s so flexible to be able to be a corner and he has played safety and special teams. All of those things are real positives for him.”
With Webb agreeing to terms, the Ravens only have two more unsigned rookie draft picks: first-round offensive tackle Michael Oher (Ole Miss) and second-round defensive end-outside linebacker Paul Kruger (Utah).
Those pending negotiations are expected to accelerate in July.
Aaron Wilson covers the Baltimore Ravens for the Carroll County Times and the Annapolis Capital.