The New Orleans Saints have restructured the contract of veteran defensive tackle Brodrick Bunkley and only paid veteran cornerback Champ Bailey a $500,000 signing bonus, the lone guaranteed portion of his two-year contract that has a base value of $3.75 million and a maximum value of $6.75 million, according to a league source.

It amounted to a $2.85 million paycut for Bunkley.

Bunkley restructured his deal on Monday, receiving $300,000 guaranteed in a roster bonus due Thursday as his base salary for this year was lowered from $4.4 million to $1.3 million with his salary-cap figure down to $3.62 million for 2014. There's up to $350,000 in an escalator clause this year.

In 2015, he's still due a $4.4 million base salary with a $6.112 million salary-cap figure and a $100,000 workout bonus and up to $450,000 in an escalator clause.

In 2016, he has a $4.4 million base salary, a $100,000 workout bonus and up to $800,000 in an escalator clause.

Bailey has non guaranteed base salaries of $1 million and $1.5 million.

He got the $500,000 signing bonus this year, a $250,000 roster bonus if he's on the active roster for six games for a total payout of $1.75 million this year. He can also make up to $150,000 in incentives each year for interceptions, $150,000 more if he makes the Pro Bowl each year.

He's due a $250,000 roster bonus on the fifth day of the 2015 league year, $250,000 in 2015 if he's on the 53-man roster for the first game.

He has a one-time $1.2 million playtime incentive and a 2015 escalator clause worth up to $1.2 million.

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Aaron Wilson covers the Ravens for The Baltimore Sun