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Franchised a year ago by the Falcons, cornerback Brent Grimes was a free agent in 2013, for a lot longer than he had planned to be.

Per a source with knowledge of the situation, Grimes has agreed to terms on a one-year deal with the Dolphins.

The contract is worth $5.5 million, which puts him near the top of this year’s pathetic cornerback market — and which gives him another crack at getting paid again in 2014. Of that amount, the base value if $5 million; $500,000 comes from per-game roster bonuses.

The deal also includes a $2.25 million signing bonus, and $750,000 of the base salary is guaranteed. That results in a total guarantee of $3 million.

Grimes tore an Achilles tendon in the first week of the 2013 regular season. Coupled with the fact that he’ll be 30 later this year, interest wasn’t as high as it could have been, but he still did well in relation to the market at large.

For the Dolphins, the amount counts fully against the 2013 cap. But that’s not a problem, given that they structured all of the new multi-year deals to have minimal cap consequences in the current year.