The Charlotte Bobcats will sign veteran point guard Jannero Pargo for the rest of the season, an informed source told the Observer Tuesday.

Pargo was signed to two 10-day contracts as a fill-in for injured backup Ramon Sessions. Sessions is still out with a sprained knee and Pargo has performed well behind starter Kemba Walker.

With Pargo's second 10-day about to expire, the Bobcats had to sign him for the rest of the season or lose him under NBA rules