According to the beloved Manish Mehta:
— Manish Mehta(@MMehtaNYDN) April 27, 2013
This was a necessary step following the acquisition of the former New Orleans' Saints running back, who had been on a one year deal. It wouldn't have made sense to trade a fourth rounder for a one year rental without a plan in place to keep him around longer. This is another indicator that GM John Idzik is looking towards the future of the franchise, not just trying to "win now," but instead, put the team in a position to contend for years to come.
We don't have the specific terms of the deal yet, but it's rumored to be in the $3 million/year range. We'll update this once we know for sure.
Edit: Jason LaCanfora is reporting three years, $10 million. It's unclear how much is guaranteed and how much is incentives, but it's definitely not all guaranteed.