Wolff, 24, is in the second year of his four-year, $2.37 million rookie contract and stands to make base salaries of $585,000 and $675,000 in the final two years of his agreement.
His 2014 season ends with him appearing in seven games and recording just seven tackles and a pass defense.
Carmichael, 26, is a former fourth-round pick of the Houston Texans. He spent two years with the team before he was among the Texans’ final roster cuts last year.
Philadelphia later signed him off of the Texans’ practice squad shortly after the 2013 season got underway. However, he was once again released as the Eagles trimmed their roster down to 53 players a few months ago.
It would be surprising to see the Eagles aggressively pursue upgrades at safety during the offseason.