Over the weekend, New England Patriots linebacker Jerod Mayo signed a five-year, $48.5 million contract extension. A league source has passed along the details and here's how the deal breaks down:
Signing bonus: $6 million
2012 Option bonus: $12 million
2012: $750,000 (injury only guarantee)
2013: $1.25M (injury only guarantee)
2014: $3.25M (injury only guarantee)
2015: $6.25M (injury only guarantee; injury only guarantee reduces to $4.5 million if option exercised)
2016: $7.25M (injury only guarantee voids if option bonus exercised)
Total base salary: $27.5 million, $26.75 million of which is considered "new" money.
In addition, Mayo has $500,000 in per game roster bonuses from 2013-17 ($2.5M total) and $250,000 workout bonuses from 2013-17 ($1.25M total). Combined with the signing/option bonuses and base salary, the amount of new money is $48.5 million, or $9.7 million per year, which ties him with Oakland Raiders outside linebacker Kamerion Wimbley for eighth-highest APY among linebackers, just ahead of Pittsburgh Steelers linebacker Lawrence Timmons ($9.559M).
Mayo can also earn $300,000 in annual incentives tied to Pro Bowls from 2013-17, and next year's base salary can increase by up to $800,000 under his previous contract.