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Panthers renegotiated Jonathan Stewart’s contract

Jonathan Stewart has a slightly renegotiated contract (USA Today Sports Images)

In late January, the Carolina Panthers and running back Jonathan Stewart made a slight adjustment to the five-year, $36.5 million contract extension they reached last August, a source with knowledge of the situation confirmed to "Shutdown Corner".

Stewart was scheduled to earn $1 million in fully guaranteed base salary in 2013. Under the renegotiation, Stewart's base salary was lowered to $715,000 – and became fully guaranteed a few days after Super Bowl XLVII – and the 2008 first-round pick out of Oregon received a $2.5 million signing bonus, which was comprised of a portion of Stewart's original 2013 base salary ($285,000) and the remaining $2.215 million was taken from a $9 million option bonus that is due in 2014.

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Stewart's 2014 option bonus is now worth $6.875 million.

In terms of cash, Stewart will still earn $1 million in 2013 as $2.215 million of his signing bonus was deferred until April 1, 2014. Stewart's cap number, however, has increased from $2.8 million to $3.015 million this season, but since the value of the 2014 option bonus has been reduced, his cap numbers from 2014-17 have decreased by a little more than $50,000 per season.

In addition to his 2013 salary being fully guaranteed, by remaining on the Panthers' roster three days into the start of the 2013 waiver wire period, Stewart's $1.5 million base salary in 2014 and $2.5 million of his $4.25 million base salary in 2015 are now fully guaranteed.

Stewart, who turns 26 in March, started six games for the Panthers last, a new career-high. However, Stewart missed seven games due to injury and logged just 30.29 percent of the Panthers' offensive snaps. In that limited action, Stewart had 93 carries for 336 yards and one touchdown with 17 receptions for 157 yards and a touchdown out of the backfield.

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More will be expected from Stewart in 2013 as the team is expected to part ways with DeAngelo Williams, who logged 40.58 of the snaps and ran for 737 yards and five touchdowns, totals that were good for second on the team behind quarterback Cam Newton. Williams signed a five-year, $43 million contract that included $21 million in guaranteed money in 2011. Williams is scheduled to earn $5 million in non-guaranteed cash compensation in 2013 and figures to be released with a "post-June 1" designation, which would allow the Panthers to split the $9.6 million in remaining signing bonus proration over the next two league years ($3.2 million in 2013, $6.4 million in 2014) and free up $5 million cap space this season.

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