Tipton, 25, signed on with the Colts as an undrafted free agent out of Central Michigan back in May of last year. Since then, he’s been on and off of their active roster.
This season, Tipton has appeared in 10 games and ran for 20 yards on five carries to go along with five receptions for 57 yards receiving.
Quarles, 23, signed with the Giants as an undrafted free agent out of South Carolina back in May. However, he lasted just a few months with the Giants before he was cut at the start of the season and later claimed off of waivers by the Patriots.
Since then, Quarles has had brief stints with the Colts Browns and Patriots.
Last year, Quarles appeared in two games and recorded one tackle, one sack and a pass defense.