Reggie Williams has agreed to a deal with Spanish club Caja Laboral worth $1.5 million, reports Adrian Wojnarowski of Yahoo! Sports. Williams' NBA rights are controlled by the Golden State Warriors, but the small forward is a restricted free agent, which means he has no obligation to return to the Bay Area should the NBA lockout end. However, there is a buy-out provision that would allow Williams to leave Laboral to return to the NBA this season, Woj reports.

Williams signed with the Warriors in the 2009-10 as a D-League call-up, and appeared in 80 games last season as Dorell Wright's back-up. He went undrafted out of VMI in 2008, but is considered an NBA-level secondary scorer; he shot 42 percent on three-pointers last season.

Vitoria-based Caja Laboral will compete in Euroleague this season, in addition to the Spanish ACB. Williams will join Bosnian power forward Mirza Teletovic, Timberwolves prospect Nemanja Bjelica and the infamous Maciej Lampe.