The maximum amount Larsen can earn in 2016 is $2.4 million (including playing time bonuses), a league source told ESPN NFL Insider Adam Caplan.
Larsen started 26 games during the past two years for the Arizona Cardinals. Originally a 2010 sixth-round draft pick of the New England Patriots, Larsen spent four seasons on Tampa Bay's 53-man roster.
In six NFL seasons Larsen has appeared in 86 games, with 57 starts.
Larsen is the second offensive lineman to sign with the Bears this week, joining guard/center Manny Ramirez, who inked a one-year deal Wednesday.
At the very least Larsen and Ramirez will be experienced backups.