Marcus Gilchrist

Ex-Chargers safety Marcus Gilchrist's new deal with the Jets isn't what it seems. (Jake Roth | USA TODAY Sports)

When former Chargers safety Marcus Gilbert agreed to terms with the Jets on a free agent contract last week, the deal was widely reported to be for four years and $22 million, with $10 million guaranteed. But, as with pretty much every NFL contract, a closer inspection reveals something quite different: Gilchrist's deal has nothing fully guaranteed except for one year and $3.5 million.

To be sure: If Gilchrist were to remain with the Jets for the four-year life of the contract, he would indeed earn $22 million. But the way the deal is structured, the Jets can opt out after the 2015 season while doling out nothing more than $3.5 to $5 million.

Gilchrist is due to earn $1 million this season in fully guaranteed base pay, plus a signing bonus of $2.5 million that gets pro-rated over the next four years in terms of how it counts against the cap. He also stands to earn up to $1.5 million in per-game roster bonuses. Next year, Gilchrist's base pay jumps to $5 million, but it is guaranteed for injury only and doesn't become fully guaranteed until the third day of the 2016 league year. Gilchrist is then scheduled to make $6 million in base pay in both 2017 and '18, though neither of those figures is guaranteed.

Which means that on the off-chance Gilchrist stinks out the joint this season, the Jets can walk away after this year and owe him nothing beyond the maximum of $5 million they will have given him. They can similarly get out of the deal after 2016 (after having paid him no more than $10 million) or 2017 ($16 million) with no additional costs, should they choose to do so.

Most NFL players sign deals like Gilchrist's that have little security beyond the first or second year. People want to tsk-tsk a player like Jets cornerback Darrelle Revis for chasing money? This is why he does it.

Gilchrist's cap charges each year break down as follows: $3.125 million for 2015, $5.625 million for 2016, $6.625 million for 2017, and $6.625 million for 2018.

If the Jets decide to get rid of Gilchrist after this season, his dead money charge would be $1.875 million. After 2016, that dead money hit would be $1.25 million. And after 2017, it would be $625,000.

Dom Cosentino may be reached at dcosentino@njadvancemedia.com. Follow him on Twitter @domcosentino. Find NJ.com Jets on Facebook.