The following is the contract signed by veteran defensive end Will Smith with the Patriots, per a source:
Length: 1 year
Total value: $920,000
Base salary: $855,000
Roster bonus: $50,000 (if on roster for first game of regular season)
Offseason bonus: $15,000
Salary cap charge: $595,000
ANALYSIS: This deal qualifies for the minimum salary benefit, which is when the salary-cap charge is lower than the base salary. The minimum salary benefit is geared toward helping longtime veterans land jobs (despite making significantly more than rookies) by lowering their salary-cap charge as long as the base salary is at the minimum level and the total in bonuses is $65,000 or lower. This deal also includes an injury split that would lower Smith's salary to $423,000 should he land on a reserve list. As the deal reflects, the Patriots don't assume much risk here.