A delighted Slade told Town's official website: "If you put aside the fact that he's been at the club for nearly 10 years, that he hasn't moved anywhere else and all those loyalty things that come around in football, he's very much on his own.
"What Terry's proved and what's important to this club right now, is that he can more than handle himself in League One and that's what he's proved since he's been with me.
"I'll be talking to a central midfielder soon and hopefully we'll be able to conclude a deal and bring him here."