Bouye, 29, wound up signing on with the Texans as an undrafted free agent out of UCF back in 2013. He returned to the Texans on a one-year, $1.671 million restricted contract in 2016.
Bouye later departed for a five-year, $67.5 million with the Jaguars. However, Jacksonville opted to trade him to the Broncos in March.
Bouye stands to make base salaries of $13 million over the final two years of the agreement.
In 2020, Bouye has appeared in seven games for the Broncos and recorded 23 tackles, no interceptions and six passes defended.