The contract has a base value of $8 million and includes $1.1 million fully guaranteed at signing with a $2.5 million roster bonus set to be paid out on Tuesday.
The Panthers picked up $2.075 million of cap space with this move, as it reduced Stewart’s 2017 cap figure from $8.25 million to $6.175 million.
In 2017, Stewart will make a base salary of $1.1 million fully guaranteed to go along with a $250,000 workout bonus and $25,000 in per-game roster bonuses.
In 2018, Stewart has a $1 million roster bonus due on the first day of the league year to go along with a $1.9 million base salary, a $250,000 workout bonus and $37,500 in per-game roster bonuses.
There are also incentives included in the contract which amount to $250,000 for 825 yards, $350,000 for 900 yards, $500,000 for 1,000 yards and $750,000 for 1,100 yards.
The Carolina Panthers announced Friday that they’ve signed veteran RB Jonathan Stewart to a one-year extension.
This is an interesting move from the Panthers, as there had been some talk that Stewart could be a release candidate this offseason. However, it appears as though the Panthers are willing to keep him around for at least another year.
Of course, it still wouldn’t be surprising to see the Panthers add a running back in this year’s draft.
Stewart, 30, is a former first-round pick of the Panthers back in 2008. He was in the final year of his six-year, $37.811 million contract that included $22.5 million guaranteed and set to make a base salary of $5.5 million for the 2017 season.
Stewart’s cap figure was $8.25 million, so this will give him some security while lowering his cap figure in the process.
In 2016, Stewart appeared in 13 games for the Panthers and rushed for 824 yards on 218 carries (3.8 YPC) to go along with eight receptions for 60 yards receiving and nine touchdowns.