Parker was due to earn $540,000 in non-guaranteed base salary as an exclusive rights free agent this season. As part of the extension, Parker received a $50,000 signing bonus (the only portion of the contract that is guaranteed) and is scheduled to earn $1 million in base salary in 2013.
Signed by the Buccaneers as an undrafted free agent out of North Alabama in 2010, the 5-foot-11, 195-pound Parker had four catches for 42 yards in nine games as a rookie. In 16 games last season, Parker came off the bench to catch 40 passes for 554 yards and three touchdowns while playing in over 45 percent of the Buccaneers' offensive snaps. Parker has averaged 20.6 yards on 30 kick returns the last two seasons, averaged 9.1 yards per punt return in 2011 and has made seven tackles on special teams during his career.
Parker's path to a roster spot will likely come via his contributions on special teams and he should compete with Dezman Briscoe and Sammie Stroughter for the No. 4 receiver role on a Buccaneers offense that got deeper at the position with the signing of Vincent Jackson to a five-year, $55.555 million contract in March.