Jones struck the deal with the Ravens while visiting the New York Giants. The Ravens were trying to arrange transportation for him to get back to Baltimore to sign the contract.
Jones, 29, was one of the Ravens' Super Bowl heroes in 2012. He scored a game-tying 70-yard touchdown in the AFC divisional game in Denver, a play now known as the Mile High Miracle. Jones then scored two touchdowns in the Super Bowl, a 56-yard catch and a 108-yard kick return.
Last season, it took time for Jones to get healthy after teammate Brynden Trawick ran into him in the season opener and injured his knee.
Jones showed flashes, although not consistency, as a receiver and finished fourth on the team with 37 catches for 455 yards and two touchdowns. His biggest impact came on returns, where he averaged 28.8 yards on kicks (fourth in NFL) and 12.5 yards on punts (fifth).