The Jacksonville Jaguars have agreed to a new contract with cornerback Rashean Mathis, bringing back the long time veteran on a one-year, $5 million deal. General manager Gene Smith noted a few weeks ago that Mathis was a priority to be brought back to the team.

Like an old homecoming: Jaguars reached agreement with CB Rashean Mathis on a one-year, $5 million deal.

— Adam Schefter (@AdamSchefter) March 7, 2012

Mathis was in the final year of his contract last season and having one of his best season's ever before tearing his ACL and missing the final seven games of the season. The Jaguars now have both of their staring corners from last season under contract. Mathis has been with the Jaguars since he was drafted in the second-round of the 2003 NFL Draft as a safety. In Mathis rookie season he moved to the cornerback position and has been a playmaker there ever since.

This is a good "value" contract for both the Jaguars and Mathis, as the contract is full of incentives according to Tania Ganguli of the Florida Times-Union, of which is highly likely games and snaps played. By comparison, Mathis' 2011 base salary was $4.45 million.