The Atlanta Falcons have their backup in place.

Last week, the organization announced that they agreed to terms with reserve quarterback Matt Schaub on a two year contract extension, keeping the veteran with the team through 2020.

Now, we appear to have an idea of what the Falcons are paying him.

Schaub agreed to a two year contract worth a total of $3.78 million, including a guarantee of $750,000, and features a team option for 2020, according to a report from ESPN’s Field Yates.

Under his previous arrangement, Schaub was averaging over $4 million per year, so this deal is more cost effective for the Falcons. Going forward, the quarterback is averaging less than half that number and the team has the option to part ways with him in 2020 should another option at the position come available.

A 15 year NFL veteran, Schaub has spent the past two seasons in Atlanta as the backup to Matt Ryan, his second stint with the franchise after he was originally selected by the Falcons in the 2004 Draft, one known for the number of high profile quarterbacks that were picked, including Ben Roethlisberger, Eli Manning, and Philip Rivers.

In his first three years with Atlanta from 2004 to 2006, Schaub appeared in 39 total games, including five starts, throwing five touchdowns against six interceptions.

Atlanta traded Schaub to Houston prior to the 2007 season, where he stayed until 2014. He spent one season in Oakland and then Baltimore before returning to Atlanta in 2016.

Schaub signed a one year contract with the Falcons to back up Matt Ryan during the starter’s eventual MVP campaign that resulted in Atlanta playing in the Super Bowl. Over the 2016 season, Schaub played in four total games and amassed 16 passing yards in reserve.

In the following offseason, Schaub signed a two year extension with the team, but did not play in any games over the 2017 season. This past season, he went 5 of 7 for 20 yards in Atlanta’s Week 5 road loss to Pittsburgh, one of his three appearances for the Falcons in the 2018 outing.

Overall, Schaub boasts 30 Texans franchise records for passing, is a two time Pro Bowl selection, and was the NFL’s passing yardage leader in 2009, when he had a career high 4,770 yards.

The Falcons see Schaub as a valuable asset inside the locker room and during players meetings, with linebacker Deion Jones saying that Schaub has helped him develop as a professional.

“Matt has a great understanding of our scheme and brings valuable experience to the position,” head coach Dan Quinn said in a statement following news of Schaub being signed.

Schaub has played in 148 career NFL contests, has started 92 games, passing for 24,887 yards, 133 touchdowns, and 90 interceptions.