The deal, signed Monday, offers a $660,000 base salary, the minimum available to a three-year veteran. It includes an injury split that would drop the quarterback's salary to $388,000 if he is placed on injured reserve, according to USA Today.
It's a typical, one-year, $660,000 deal — paid in weekly installments of $38,824 during the season if Tebow makes the team — that comes without a signing bonus or other guaranteed money, according to contract details obtained by USA TODAY Sports on Wednesday.
Tebow, 27, last played for the New York Jets in 2012. He signed with the New England Patriots in June, 2013 but was cut before the season. He spent last season working for ESPN and SEC Network as a college football analyst.
In 2011, Tebow quarterbacked the Denver Broncos to the playoffs and fired a game-winning pass to Demaryius Thomas in the team's first-round win over the Steelers. He completed only 46.5 percent of his passes on the season.
- Alex Putterman