The free-agent defensive end from Denver recorded 10 sacks for the Broncos out of their 4-3 last season. But for the vast majority of nine seasons before that he was an outside linebacker in a 3-4 in San Diego, and that's where he'd line up for the Titans, who are transitioning to that front.
He has 79.5 career sacks since being drafted by the Chargers, who selected him out of Purdue in the fourth round in 2004.
Here's a scouting report from ESPN's Bill Polian:
Phillips wound up being the only legitimate edge rusher for Denver's defense in 2013, and even though age may be a factor (he'll be 33 this offseason) it's hard to imagine that the Broncos would let him leave. He is decent versus the run with good effort and chase but his game is all about getting to the QB. Phillips takes good angles to the ball, closes well and is a finisher who makes a lot of plays.
If the contract is short enough and the price is reasonable enough, he'd be a great addition and he would lessen the pressure on the Titans to land an impact edge-rusher early in the draft.
UPDATE, 5:29 p.m.: Mike Garafolo and Jim Wyatt both report a deal is done. Two years and a max value of $6 million with $2.5 million guaranteed fit the parameters I just mentioned. Good get, I think.