Last week, the Titans signed running back Chris Johnson to a four-year extension, with a new-money average of $13.4 million. The full details, for those interested (all five of you), are now available.
Per a source with knowledge of the deal, Johnson received a $10 million signing bonus, along with a $3 million fully guaranteed base salary in 2011.
In 2012, Johnson will receive a base salary of $8 million. The base salary is guaranteed for injury only at the time of signing. It becomes fully guaranteed on the fifth day of the 2012 League Year.
The base salary reduces by $250,000 if Johnson doesn’t participate in the team’s offseason workout program. It drops by another $300,000 if he doesn’t rush for 1,000 yards in 2011.
In 2013, Johnson’s salary is $10 million, $9 million of which is guaranteed for injury only now. It becomes fully guaranteed on the fifth day of the 2013 League Year. The salary drops by $250,000 if he fails to complete the offseason workout program.
In 2014, Johnson’s salary is $8 million, with the same $250,000 de-escalator. Ditto for 2015.
In the final year of the deal, Johnson’s salary will be $7 million, with a $2 million roster bonus due on the seventh day of the 2016 League Year. The base salary can drop by up to $2 million based on rushing yards, along with a potential $250,000 reduction based on participation in offseason workouts.
It works out to a be a six-year, $56 million deal. That’s an average of $9.3 million.