Gooden, 25, is a former third round pick of the Titans back in 2013. He had two years remaining on his four-year, $2.681 million rookie contract that included a $506,016 signing bonus. He was set to make a base salary of $590,000 for the 2015 season.
Gooden, unfortunately, sustained a torn hamstring last month that led to him being placed on injured reserve.
He has yet to appear in an NFL game.
Smallwood, 23, was taken in the seventh-round by the Falcons in last year’s NFL Draft. He wound up being released at the start of the 2014 season.
However, the Titans signed him to a future/reserve contract in January.
During his three-year college career, Smallwood recorded 332 tackles, 27 tackles for a loss, 8.5 sacks, two interceptions and five forced fumbles.