According to Yates, Thomas has agreed to reduce his $2.975 million base salary to $1.5 million. As part of the agreement, Thomas receives a $100,000 roster bonus and $550,000 in incentives.
Thomas was on the Giants’ active/PUP list before the team activated him a few week ago.
Thomas, 28, is in the second year of his three-year, $12 million contract that includes $4.5 million guaranteed. He was set to make a base salary of $2.975 million in each of the next two years.
In 2015, Thomas appeared in 12 games and recorded 47 tackles and a half sack for the Giants. Pro Football Focus has him rated as the No. 28 outside linebacker in a 4-3 out of 34 qualifying players.