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The terms of Will Hill's deal

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The Ravens locked up Will Hill III on a two year deal yesterday, keeping him in Ravens purple for an extra year. The terms of the deal have now been made public:

<blockquote class="twitter-tweet" lang="en"><p lang="en" dir="ltr">2-year deal on <a href="">#Ravens</a> S Will Hill is worth $7M total, plus another $400K in P/T incentives. Keeps him thru &#39;16 season. Got $2.84M guarantee</p>&mdash; Jason Cole (@JasonColeBR) <a href="">August 28, 2015</a></blockquote>

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So instead of playing the 2015 season on the $1.542 million tender, Hill received $3.5 million average salary for the next 2 seasons. This gives the Ravens an additional year to evaluate Hill and make a decision on a long term deal. The Ravens had $8,770,466 of cap room with Hill on his tender, so this deal probably takes some off that total with the signing bonus. With only $2.84 million guaranteed in the deal, this deal looks like a bargain.