Spence, 24, is in the third year of his four-year, $2,644,424 rookie contract that included a $484,424 signing bonus. He stands to make a base salary of $585,000 to go along with $675,000 in 2016.
This season, Spence appeared in eight games and recorded 11 tackles and a sack for the Buccaneers.
James, 24, is a former sixth round pick by the Buccaneers back in 2013. He was waived a few weeks into the season, but was later signed to their practice squad after clearing waivers.
In 2014, James appeared in 11 games and ran for 37 yards on 19 carries (1.9 YPC) to go along with one reception for minus five yards.