The Jets have placed the low tender on restricted free agent wide receiver Kenbrell Thompkins.
Jets have placed the low (original round) restricted tender on WR Kenbrell Thompkins, per source.— Dom Cosentino (@domcosentino) March 10, 2016
Thompkins' RFA tender is for $1.671M. Jets have right of first refusal if another team were to make an offer. No compensation if he walks.— Dom Cosentino (@domcosentino) March 10, 2016
Essentially this means the Jets have a one year contract offer on the table for the amount mentioned. Thompkins is free to talk to other teams and sign an offer sheet. If he does, the Jets have the option to match it and keep him. If they decide not to match, the Jets would receive no compensation.
Thompkins had 17 catches for 165 yards last season for the Jets in limited playing time. He did have his moments, though, including a 43 yard catch late in the fourth quarter against the Cowboys that helped set up the game-winning field goal. On the negative side, Thompkins had a chance to come up with a ball in the final minute of the season-ending loss to the Bills that could have gone for a touchdown to put the Jets into the Playoffs.
In any event, Thompkins showed enough to be brought back on a cheap deal. This move makes sense to me.