After an underwhelming 2014 campaign where he caught 22 passes for 190 yards with zero touchdowns in 14 games, Brandon Myers has worked out a restructured contract with the Tampa Bay Buccaneers.

According to Greg Auman of the Tampa Bay Times, Myers will receive $500,000 up front while lowering his salary from $2.25 million to $1 million for next season. He could also make $1.75 million in 2016, but that looks to be a non-guaranteed deal. Auman also believes that there are some performance incentives in place which could also bump up his overall financial haul.

Basically, Myers took a pay cut to stay with the Buccaneers. As the No. 2 tight end on the depth chart, the 29-year-old Myers could’ve tried to look elsewhere for a new contract but he probably played his cards right by taking a restructured deal after failing to post the type of strong numbers in 2014 which would entice other teams across the league to open up their checkbooks.

Myers’ veteran presence should also help fellow tight end Austin Seferian-Jenkins as he heads into his second year in the NFL. It wasn’t that long ago (2012) when Myers put up career highs in catches (79) and receiving yards (806) and touchdowns (4) in his last season as a member of the Oakland Raiders. When you factor everything into play, this is a win-win situation for both sides.