EXCLUSIVE: As he is wrapping his first starring TV series role on NBC‘s 30 Rock, Alec Baldwin is staying in business with the network and the studio behind the departing Emmy-winning comedy. I’ve learned that Baldwin, whose turn on 30 Rock has earned him two Emmys, has signed a two-year overall deal with Universal Television. Under the pact, Baldwin, who also serves as a producer on 30 Rock, will develop and produce series projects for the studio, including potential new starring vehicles for him. Baldwin joins his 30 Rock co-star, the series’ creator Tina Fey, who recently signed a new four-year overall deal with Universal TV. The pact assures Baldwin’s continued presence in the TV business. He had indicated that he may leave acting post-30 Rock for “more of a normal life,” and also has been constantly rumored for a potential political career. The current seventh and final season of 30 Rock ends January 31.

Following a string of TV gigs in the early 1980s, including a two-season run on Knots Landing, CAA-repped Baldwin launched a feature career that has included a string of starring roles and an Oscar nomination in 2004 for The Cooler. On TV, in addition to his role on 30 Rock, he is best known for his frequent hosting stints on NBC’s Saturday Night Live.