Smith has been with Seattle since the start of the 2019 season.
According to Rapoport, Smith’s new deal is a one-year contract worth $3.5 million in base salary. That contract includes a $500,000 signing bonus, with up to $3.5 million in incentives to be earned.
Shortly after the Seahawks announced the deal, Smith tweeted that he’s ready to get to work.
Smith, an eight-year NFL veteran who has played for four teams throughout his career, will be among the players in competition to earn the Week 1 starter’s role for Pete Carroll’s group. Seattle is looking to replace former All-Pro quarterback Russell Wilson, who was traded to Denver last month.
Carroll has spoken positively about Smith over the offseason.
In four games played, including three starts, Smith completed 68.4 percent of his passes for 702 yards and five touchdowns.