I just got a glance at the details of the contract Carolina Panthers linebacker Jon Beason restructured earlier this week.

It’s pretty simple. Beason took a significant pay cut and didn’t recoup any of it with up front money.

Under the new deal, Beason’s base salary for this year dropped from $5.25 million to $1 million, which is fully guaranteed. That drops Beason’s cap figure for this year from $9.5 million to $6.1 million. Beason can recoup $1.75 million if he is active for all 16 games.

The rest of Beason’s contract, which runs through 2016, remained untouched. That means there’s a good chance Beason will have to restructure again next year because his 2014 cap figure is $10.75 million.

The Panthers now are $12.8 million under this year’s cap.