Paysinger, 25, is a restricted free agent and will receive an original round tender of $1.431 million. He appeared in all 16 games for the Giants last season and totaled 74 tackles, one sack and a fumble recovery.
He graded out as the N0. 23 inside linebacker in the league last season, according to Pro Football Focus.
Reynolds, 29, is an exclusive rights free agent, so the Giants were able to retain him at just $570,000 next season. He appeared in just three games last year and played 103 total snaps.