David Garrard officially signed his contract with the Jets on Thursday and the team was granted a two week roster exemption for Garrard. Garrard’s salary will be based on a $1 million dollar Paragraph 5 salary, the same amount that Garrard was contracted to earn prior to his retirement during the offseason. The Jets will be responsible for $588,235 in salary cap charges if Garrard is activated after the two week period.
Garrard is currently the 5th QB on the New York Jets roster joining starter Geno Smith, injured Mark Sanchez, backup Matt Simms, and 3rd stringer Brady Quinn. Quinn has yet to be activated for any game this season so it would seem likely that the Jets would release Quinn if Garrard is capable of playing. The Jets had released Quinn prior to the first game of the year before re-signing him, thus eliminating their responsibility for full season Termination Pay.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.