The deal, which was agreed upon on Thursday, also includes a team option for a fifth year. The deal is reportedly worth $6.767 million and includes a $3.301 million signing bonus.
Elam is expected to put pen to paper when he reports for training camp on Sunday.
He waited to ink the deal because he didn’t have an agent. In the end, Elam decided not to hire representation and negotiated the deal on his own.
Under the current NFL collective bargaining agreement, the rookie wage scale is relatively set, so there isn’t much room for an agent to negotiate with the club.
“Matt Elam is what we expected and maybe a little bit more,” Secondary Coach Teryl Austin said during minicamp. “[He's] going through the usual changes that a rookie goes through, but he’s smart. He’s tough, he’s fast, he gets football, and I think he is going to be a fine player for us soon.”
Elam is competing for a starting job with veterans Michael Huff and James Ihedigbo.
“My goal is to continue to get better and do whatever I can to help the team win,” Elam was quoted s saying. “That’s my first goal – to continue to improve and get better. I just want to do whatever I can to help this team win.”