According to ProFootballTalk, the New York Jets have re-signed Calvin Pace to a two-year, $5M contract. We'll probably discuss this one more later, but I'm not particularly thrilled about it. Pace is old, and he is terrible. He had arguably the most underwhelming 10+ sack season in NFL history, one that any living breathing human could have accomplished. This is a textbook example of when stats are misleading out of context.
On the other hand, there aren't a lot of good options at outside linebacker currently in free agency, so hopefully the team will look to upgrade the position in the draft. As it stands, the three main OLBs are Pace, Quinton Coples, and Antwan Barnes.
EDIT: Here is an article I wrote about Pace a while back.