The deal looks good for Seattle. Two agents familiar with the details helped fill in some of the blanks:
Williams gets a $500,000 signing bonus.
The deal includes $1.35 million in roster, reporting and workout bonuses for the 2011 season, plus a $1.75 million salary.
Williams gets $3 million in salary and a $250,000 roster bonus in 2012.
The deal carries a $3.4 million salary and $250,000 roster bonus in 2013.
Williams can earn $300,000 in workout bonuses spread over the 2012 and 2013 seasons.
The deal includes salary escalators that could add about $1.3 million in value to each of the final two seasons.
Basically, Seattle can get out of this deal painlessly at any time. The Seahawks paid more than $6 million to T.J. Houshmandzadeh after releasing him. The price for releasing Williams would be far less if the new deal did not work out for the team.
Williams, meanwhile, gets some money in his pocket heading into a potential lockout. I'm a little surprised he would agree to a deal that will keep him under contract until age 30 at what amounts to less than what a No. 2 receiver might expect to earn. If Williams produces at a high level next season, I would expect to see him back at the bargaining table.