Payne, 24, originally signed on with the Ravens as an undrafted free agent out of Stetson back in May of 2017. He was waived coming out of the preseason and later claimed off of waivers by the Jaguars.
Payne is in the second year of his three-year, $1.66 million contract and set to make base salaries of $555,000 and $645,000 over the final two years of the agreement.
In 2018, Payne appeared in seven games for the Jaguars and recorded one tackle and a fumble recovery.
Lee, 23, was selected in the sixth round of this year’s draft by the Jaguars. He signed a four-year, $2,601,544 that included $141,544 in guarantees with the Jaguars.
Jacksonville elected to waive Lee as they trimmed their roster down to 53 players, but later added him to their practice squad.
During his college career at Tulane and Nebraska, Lee threw for 6,744 yards while completing 55.2 percent of his passes to go along with 46 touchdowns and 37 interceptions.