Godfrey has the opportunity to earn back $1.7 million through a $106,250 per-game active roster bonus.
The deal was changed Monday and still includes a $100,000 workout bonus and $100,000 in incentives.
Godfrey tore his Achilles tendon last season.
This offseason, the Panthers have acquired safeties Roman Harper and Thomas DeCoud.
In 2015 and 2016, his base salaries are still $5 million and $5.3 million, respectively.
In 2012, he signed a $23.1 million contract extension that included a $5 million signing bonus and $6.8 million in total guaranteed money.
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Aaron Wilson covers the Ravens for The Baltimore Sun
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This story originally appeared on Nationalfootballpost.com
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