Thomas, Giants Settle on One Year Deal

Details of Terrell Thomas’ restructured contract have been released. It is a one-year contract at the minimum.

From SNYGiants insider Ralph Vacchiano of the Daily News:

If Terrell Thomas had somehow stayed healthy last season and played well enough for the Giants to keep him under his old contract, he would’ve soon received a $6 million bonus and earned another $750,000 in 2012.

Instead, Thomas’ last chance with the Giants comes with a price tag of only $700,000, with the possibility that he could earn $500,000 more.

The deal Thomas signed with the Giants on Monday is a one-year contract with a salary of $630,000 and includes a signing bonus and workout bonus of $35,000 each. He also has another $500,000 in incentives written into the deal, though it’s not clear exactly what they are.