The Baltimore Orioles came to terms with No. 1 pick Jackson Holliday on Thursday, according to a source.

Holliday will receive a record bonus for a high school player.

The deal is worth $8.19 million, just under the slot value for the top pick at $8,846,900. The club has not confirmed the agreement, which is pending a physical.

The first two picks in Major League Baseball's 2022 draft, Jackson Holliday and Druw Jones, have agreements in place with their respective clubs, according to a report.

Both players are expected to receive signing bonuses that exceed $8 million. They are also both represented by Scott Boras.

Holliday, a prep shortstop from Oklahoma and the son of former All-Star Matt Holliday, was selected No. 1 by the Baltimore Orioles.

Jones, a prep outfielder from Georgia and the son of Andruw Jones, was chosen No. 2 by the Arizona Diamondbacks.

The Los Angeles Dodgers and longtime backup catcher Austin Barnes have agreed to a two-year contract extension, sources confirmed to ESPN's Alden Gonzalez on Sunday.

Financial terms of the deal weren't immediately known.