According to JSonline, Ryan Grant and the Packers agreed to a 4 year deal. See the article for details.

This is great news, and sounds like a good deal for all involved. I will have move in the morning.

Update:

The reason I like this contract so much is because it is very incentive laden. These days running backs are, for the most part, very fragile players. They run at a high level for what seems to be 2-3 years, then break down. Add that to the fact that Grant has already had a serious injury that caused him to miss a year, and I think the Packers are right to be concerned about his longevity.

That said, if Grant runs like he did at the end of the season for the next 4 years, he deserves to be paid a lot, and that is exactly what this contract will do. If he performs well, he can get up to 30 million over the life of the contract. He most likely will not get all of that money, but it is better to have a contract with a big upside if they player performs than to lock them into a small contract and get disgruntled, or pay a big one and get injuries.

I don't like any holdout, but I like how this one was resolved.

I should point out that the injury that caused Grant to miss a year was non-football related. From this NYTimes article:

During the off-season in early 2006, someone bumped into Grant at the nightclub. When he wobbled and reached back to brace himself, his left hand went through Champagne glasses resting on the table. Grant cut an artery, a tendon and the ulnar nerve in his arm. Blood poured out of the wound, requiring emergency surgery. Grant plays down the ordeal now, but he acknowledged Wednesday that doctors were initially unsure if he would regain the use of his left hand.