The second-round tender will cost Falcons the $2.553 million for the 2016 season and net them a second-round pick if either player receives an offer sheet from another team and they elect to pass on matching it.
Worrilow, 26, wound up signing on with the Falcons as an undrafted free agent out of Delaware back in 2013.
In 2015, Worrilow appeared in 15 games and recorded 97 tackles, two interceptions, a forced fumble, a recovery and four pass defenses.
Schraeder, 27, also signed on with the Falcons as undrafted free agent out of Valdosta State back in 2013.
In 2015, Schraeder appeared in all 16 games for the Falcons and was rated by Pro Football Focus as the No. 5 offensive tackle out of 77 qualifying players.