Terms were not disclosed but a source told ESPN's Jeremy Fowler that Floyd is getting $7 million fully guaranteed with incentives for eight, 10 and 12 sacks that could increase the total value of the deal to $9 million. The Bills' salary cap hit will be lower due to void years added to the contract.
After not adding to the defensive line in this year's draft, the Bills signed defensive tackle Poona Ford to a one-year, $2.25 million deal, including $1.5 million guaranteed, in May. Defensive tackle Ed Oliver also agreed to terms on a four-year, $68 million extension with $45 million guaranteed on Saturday.
Floyd, 30, adds another veteran presence to a Bills pass-rushing group that includes his former Los Angeles Rams teammate Von Miller, who is coming off a major right ACL injury suffered on Thanksgiving that has about a nine-month recovery window, putting his availability in question for the start of the season. The Bills have also invested heavily in recent drafts at the position with second-round picks A.J. Epenesa (2020) and Boogie Basham (2021) and first-round pick Greg Rousseau (2021).
The Rams released Floyd in March after not being able to find a trade partner for the veteran.
Floyd had 29 sacks, two forced fumbles and an interception in his three seasons with the Rams, registering at least nine sacks each year. He had his best season in 2020, his first with Los Angeles, when he posted a career-best 10.5 sacks.
Floyd was drafted No. 9 overall by the Chicago Bears in 2016 but was released before the 2020 season, even though the team had exercised the fifth-year option on his rookie contract.
In seven seasons, he has 47.5 sacks, 103 quarterback hits and 338 tackles.
ESPN's Jeremy Fowler and Sarah Barshop contributed to this report.