Collmenter was 5-5 with a 3.13 ERA in 49 games last season. He led all NL relievers with 92 innings pitched and a club-record nine relief appearances of at least three innings. His 29 extra innings pitched were the most by a major leaguer since Tug McGraw had 29 in 1972.
The deal Wednesday gives Collmenter a $925,000 salary this year and $1.4 million in 2015. He also gets a $100,000 signing bonus.
There is a club option for 2016 at $1,825,000, and the contract includes a $2 million mutual option for 2017. If Collmenter exercises the 2017 option and the team declines, he gets a $150,000 buyout. If the pitcher turns down that option, the team can pick it up for $2.25 million.
If all the options are exercised, Collmenter's deal could be worth up to $6.5 million over four years.
Tejada lost his job as the team's starting shortstop last year, when he was demoted to the minors for months during an injury-plagued season. He missed time with a strained right quadriceps and broke his right leg on Sept. 18, eight days after he was recalled from Triple-A Las Vegas.
Tejada batted .202 with no homers, 10 RBIs and a dreadful .519 OPS in 57 games. But assuming he's healthy by the start of the season, he's in line to start at shortstop again because the Mets have been unable to find a suitable upgrade this winter.
Information from The Associated Press was used in this report.