The Cleveland Cavaliers will be keeping a vital cog of their success last season after they successfully concluded an agreement with Iman Shumpert.

Shumpert, 25, who plays at the shooting guard and small forward positions, agreed to a four-year, $40-million deal with a player option in the final year, according to ESPN's Jeff Goodman.

Shumpert was acquired from the New York Knicks with shooting guard J.R. Smith via trade last season. He has proven his worth as a versatile player and reliable offensive contributor for Cleveland last season.

Earlier, the Cavaliers signed up another vital cog of their success. According to ESPN, Kevin Love, 26, who plays at the power forward and center positions, agreed to a five-year, $110 million contract. 

Love was acquired from the Minnesota Timberwolves before the start of the 2014-15 season, and despite his struggles in the regular season, he was an efficient contributor for Cleveland.

The Cavaliers found their groove in the second half of the season and entered the playoffs as the second seed in the Eastern Conference. Unfortunately, Love could not join his team on the road to the NBA Finals after he got injured in the first-round against the Boston Celtics.

In a first-person essay he made to announce his re-signing with the Cavaliers, Love said one of the things that made him want to stay was the fight spirit the team displayed during the Finals, amid all the setbacks it faced.

"Yeah, of course I've heard the free-agency rumors. But at the end of the day, and after meeting with my teammates and with the front office, it was clear Cleveland was the place for me," Love said in the essay that was posted on The Players' Tribune website.

The Cavaliers are also looking to reach an agreement with center Tristan Thompson while franchise star LeBron James has yet to strike a deal with the team.