The Atlanta Falcons announced today that defensive tackle Corey Peters agreed to a one-year contract. Peters was an impending free agent, as the period where players can officially join new teams begins a week from today. Per Scott Carasik of Draft Falcons, Peters’ deal is worth $1.5 million minus playing-time incentives.

Corey Peters deal broken by @caplannfl is 1 year, 1M base, 500k in per-game bonuses and 100k in a playing time incentive for 65% of snaps.

— Scott Carasik (@ScottCarasik) March 4, 2014

Originally a third-round pick out of Kentucky by the Falcons in 2010, Peters has been a regular starter since joining the team. He is coming off his most productive season, tallying career-highs of 46 tackles and five sacks. Peters suffered a torn Achilles tendon at the end of this past season however, limiting his potential market. He had successful surgery in January and is currently in a walking boot for a few more weeks.